Unity adds online broking to its site
Being a 150 year old friendly society is no hold back for Manchester Unity in the world of online finance.
Thursday, March 23rd 2000, 12:00AM
The company's website Unity Direct, which was launched in 1998, is the leader in New Zealand when it comes to selling products over the Internet.
While volumes aren't being disclosed the site continues to evolve into a comprehensive offering of products.
On Sunday Unity plans to launch its online share trading service done in conjunction with brokers DF Mainland.
DF Mainland's point of differentiation in the increasingly competitive online broking market is that it supplies research to clients and it offers IPOs such as Beauty Direct.
Unity's share trading will including real time quotes, trading, charting and the ability to create an investment portfolio.
The site will be offering a special rate of $25 a trade at the launch, versus its stand flat rate fee of $29.50 per trade.
The aim of the site is to bring together, on the Internet, information and education relative to finances, simple planning tools and product offerings, with the facilities to complete share-broking transactions.
Unity Financial Services managing director Brian Howard Clarke says the online broking service was being launched as he predicted there would be a decline in face-to-face broking services, and fees were coming under pressure.
Unity currently makes its revenue from trail fees on managed funds and commissions of sales of risk products and mortgages.
In the next three months Unity also hopes to introduce "voiceover Internet protocol and collaborative browsing," allowing users to speak to a call centre agent over the site using a telephone line, and the agent will be able to guide a user's mouse while providing instruction.
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