21st January 2014
AXA has launched the AXA Self Investor service today. As part of the launch, the service will not charge for its stocks and shares Isa for the first year for customers who invest before 6 April 2014 as part of what it is calling a crystal clear price promise.
The promise also includes a promise of no exit charges and no transaction charges. The new website is at www.axaselfinvestor.co.uk and is aimed at people who want to invest in a stocks and shares ISA and make their own investment decisions.
The site comes with guides and tools to help customers become “confident self-investors”.
Axa says it should appeal to the first time self-investor, as well as those people who have built up sizable funds over time and wish to transfer their entire ISA investments.
From 1 May 2015 AXA Self Investor will charge 0.5% a year, equal to £50 a year on a £10,000 investment. This covers the cost of administering the stocks and shares ISA.
It adds that there are no initial fund charges, no hidden or confusing monthly ‘service’ charges, no transaction charges to buy or sell funds, no commission paid to fund managers and no exit penalties.