An execution-only investment platform launched a year ago by Surrey-based IFA Informed Choice has closed to new business after its pricing terms became uncompetitive.
The decision was taken in March after the company reviewed its charges in the wake of moves by a number of leading platforms to overhaul their pricing structures. As a firm "without the scale to negotiate improved terms with our partners, we have decided to close IC Direct to new business", Informed Choice managing director, and founder of IC Direct, Martin Bamford wrote in an update on the firm's website. Existing customers can continue to access the service. Powered by FundsNetwork, IC Direct launched in April 2013 targeted at retail investors with between £20,000 and £40,000 in ...
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