Article date: 14 January 2002
norwichunion.com has launched an online share dealing serviceand a fund supermarket Isa.
These two new products are designed for people who want to takea more active role in managing their finances.
norwichunion.com's online share dealing service is keenly priced- with an introductory offer of just £5 a trade - and enablescustomers to buy and sell online. There is a competitive quarterlyfee of just £9.95.
The fund supermarket Isa offers investors a "pick 'n' mix"approach to funds. There are around 70 funds all of which have aStandard & Poor's A, AA or AAA rating and over the last fiveyears have out performed the average in their sectors by 61 percent1. Charges are 75 per cent less than some moreconventional channels.2
Standard & Poor's has proven that, on average, 72 per centof S&P rated funds, subject to its ongoing monitoring process,have gone on to achieve above average performance over a two-yearperiod.3
Inexperienced investors can 'try before they buy' using'virtual' portfolios of shares or funds, without having to commitany of their own money. This allows them to monitor performance andget to grips with investing online before actively making anyfinancial commitments.
Despite been driven by the latest technology norwichunion.com iskeen to retain the personal touch with customers able to talk to acontact centre manned by qualified consultants if they need help orguidance.
Commenting on the launch, Rob Davies, brand manager,norwichunion.com, said: "Research shows that while eight millionpeople have researched financial products online, less than fourper cent have actually bought an investment productonline4. Most will undoubtedly be put off by thecomplexity and almost elitist qualifying criteria of some sharedealing services.
"However we aim to appeal to everyone - from novice investors toexperienced day traders - and are confident that the competitivepricing and ease of use will prove popular."
The service also provides customers with a wealth of jargon freeimpartial information, financial planning tools, designed to maketheir decision-making easier and more personal.
norwichunion.com's online share dealing service and fundsupermarket Isa can only be found at www.norwichunion.com.
The fund supermarket is operated by NUSOF.com limited.
David Ross at Norwich Union on 08703 66 68 65
1 Source: Norwich Union: Five year performance to31/12/01. Average performance of the funds in the Norwich UnionFund Supermarket Isa against the weighted average of the AUTIFsectors in which they are invested. Figures quoted on an offer tobid, net income reinvested basis. The Fund Supermarket becameavailable December 2001. Therefore the performance illustrated isnot the actual performance of our Fund Supermarket, but shows theperformance of the funds now available.
2 Source: Norwich Union: Modal average initial charge offunds in the Norwich Union Fund Supermarket Isa is 1.25%. Modalaverage quoted by the fund managers for these funds is 5.25%.
3 Source: Standard & Poor's
4 Source: Forrester (published January 2001) 3% sharedealing and 1% investment funds
Notes to editors
- norwichunion.com was launched in May 2001 and provides acomprehensive range of free, interactive financial planning toolsand impartial money guides, designed to help people make betterfinancial decisions by making complex money matters simple.
- A fund supermarket Isa and share dealing service are the firstin a range of products that will subsequently include a number ofbanking products.
- Norwich Union is the UK’s largest insurer offering acomprehensive range of long-term savings and general insuranceproducts.
- Norwich Union’s news releases are available on thisinternet site
- A selection of images are available from the Norwich UnionNewscast site at www.newscast.co.uk
- An ISDN facility is available for studio quality interviews.Call the press office on 08703 66 68 68
For life and pension media enquiries 08703 66 68 73 For allother media enquiries 08703 66 68 68
Please remember that past performance is no guide tofuture performance. These are risk investments and their value, andany income from them can go down as well as up.
The norwichunion.com online share dealing service is provided byPershing Securities Limited (Pershing) who are regulated by theFinancial Services Authority. By using the service, customers willform a contract with Pershing and all share trades effected bycustomers will be with Pershing. To market the service, NorwichUnion Wealth Management Limited is regulated by the FinancialServices Authority for investment business.