LONDON: Share plc, which operates The Share Centre Limited (“The Share Centre”), a leading UK independent retail stockbroker, announced on 8 August 2018 that it had agreed to acquire an active book of accounts covering almost 20,000 customers and over £750m of assets under administration, predominantly Investment Trusts.
The Company is now pleased to disclose that the book of accounts being acquired is from J.P. Morgan Asset Management, one of the world’s leading global financial services firms. The transfer of accounts is expected to start in September 2019, with activity flowing through immediately.
The Share Centre is a strong advocate of investment trusts. Having launched its preferred list of investment trusts in 2016, it provides research and information services to assist personal investors navigate the market.
This acquisition further underpins The Share Centre’s position as a leading provider of administration services to those investment trust managers wanting to ensure that retail investors have the best possible service when choosing to invest in their products.
Richard Stone, Chief Executive of Share plc, commenting on the acquisition, said: “I am delighted to announce the strategic acquisition of a book of accounts we previously reported on a no-names basis is from J.P. Morgan, one of the world’s leading global financial services firms. It is a privilege to have been chosen by the company as the best home for their investment trust customers and we look forward to helping these customers work towards their investment goals.
“The Share Centre is an execution-only stockbroker that provides substantial resources and guidance on our website to help personal investors, but fundamentally our customers make their own investment decisions. Established in 1990, our platform has grown successfully and the business now serves approximately 300,000 customers with over £5bn of assets.
“We provide two services – custody (we provide a safe home for our customers’ investments) and trading (we facilitate the trading of those assets). Importantly, we charge a flat fixed account fee, which does not penalise investors when they invest more or see the value of their investments rise, and a low dealing commission.
“We have a proud history of campaigning for the interests of personal investors. For example, this included the successful enfranchisement of nominee shareholders. The acquisition of the customer base of J.P. Morgan is in line with our stated aim of growing our business through strategic acquisitions and partnerships and continues our efforts to support personal investors.
“At the heart of our business is the customer relationship and high quality customer service is central to all that we do. We have an experienced team, are proud of the service we offer and look forward to providing customers of J.P. Morgan and investors in J.P. Morgan investment trusts with a secure home and trading service for their investments.”
Simon Crinage, Head of Investment Trusts at J.P. Morgan Asset Management, commented: “After careful consideration, we concluded The Share Centre would be best placed to offer a comprehensive, high quality client service, with an array of features and functionality which will provide an optimal outcome for J.P. Morgan investment trust clients.”[the_ad id=”31605”]