Selftrade, one of the UK’s longest standing retail investment platforms, has re-branded as EQi, marking its new name with the launch of a market-leading LISA (Lifetime ISA). The new LISA has a fee of just 0.2% for new investors, while EQi customers won’t be charged for adding the LISA to their existing portfolio.
As part of the re-brand, EQi has also launched an expanded list of 60 funds, selected by independent researchers Square Mile, along with a new best execution price guarantee. The website and investment platform have also received a number of improvements, developed hand in hand with EQi’s own customers, and based on how investors want to manage their portfolios and access their preferred tools and guides.
EQi is owned by FTSE 250 Equiniti Group plc, an international technology-led services and payments specialist that also includes employee share scheme platform, Shareview. The re-brand, led by Commercial Director, Cesar Reyes-Torres, will bring to the fore the reputation and technical innovation of its parent company, as well as a renewed focus on providing even better service to EQi’s existing customers and widening its appeal to new investors.
Richard Pearson, Director at EQi, explains: “When Selftrade launched it was one of the first providers to make investing in stocks and shares available to people outside of the City, or who didn’t have access to a stockbroker. Over the intervening years the growth of retail investing has skyrocketed and investors have a huge choice of firms and platforms to use.
“By re-branding to EQi we are reminding people that, not only are we still in business, but that we have the backing of a hugely successful and innovative organisation. That backing will help us develop and grow to support the changing needs of new and existing customers. Crucially, we still provide all our investors with the tools, support and service that has been developed over the last 20 years of experience.”
Customers using the EQi platform can invest in stocks and shares, funds, investment trusts and ETFs directly, as well as via ISAs, SIPPs and now a LISA. The launch of the new LISA is part of EQi’s desire to open investing up to a new and often younger audience.
Richard Pearson continues: “Cash savings rates are offering pitiful returns at the moment, so savers should be looking at investment-based products to make more of their money. The LISA is a great way for people to begin their investment journey by encouraging them to start saving for a home or their retirement, as well as taking advantage of the government bonus.”
More information on EQi’s LISA can be found here
In addition to the LISA, EQi has also launched a new best execution price promise, as well as a pricing holiday for new customers who won’t pay any fees for their first two quarters with EQi. The price promise means that EQi will achieve the best execution price in over 99.9% of trades, and if it doesn’t it will automatically refund the dealing commission charged. EQi can offer this promise because its execution technology is powered by Equiniti, which services over 70% of the FTSE 100, getting investment right for millions of shareholders and blue chip companies.
These new offers are in addition to EQi’s existing pricing features:
- Frequent Trader Discount: If investors trade more than 20 times a month, they will pay just £5.99 per trade instead of the standard £10.99.
- Offset custody fee: If investors make two £10.99 share trades a quarter, there will be no custody fee to pay on the dealing account, ISA or SIPP.
- £100 transfer fees covered: EQi will cover transfer costs of up to £100 per account when investors move their investments from another provider.
More information on EQi’s pricing can be found here
In terms of funds, previously only ten funds were available, aligned to an investor’s risk appetite. By working with Square Mile this has been expanded to 60 selected funds that will enable an investor to choose a suitable fund based on a category, such as emerging markets, as well as match it to an outcome such as growth, income or preservation. There will also continue to be a range of funds for newer investors based on risk. All of the new funds come with ESG ratings.
Details of the selected funds can be found here
SIPPs will form a bigger part of the future focus for EQi as the investment platform believes many people, particularly the self-employed, business owners and entrepreneurs, are not well-served with pension provision and guidance.
The new EQi brand went live on 2nd March 2020 with the new website address www.eqi.co.uk. Customer log-in details for the investment platform will remain unchanged, so investors will not need to update their credentials to be able to manage their portfolios.