Open+Direct launch online ISA strategy

The independent financial advisory company Open+Direct have launched a new online investment portfolio service which is the first of its kind in Northern Ireland and the United kingdom.

A subsidiary of the Viridian Group, Open+Direct Financial Management (O+DFM), launched their online Individual Savings Account (ISA) scheme at their Northern Ireland headquarters in Belfast on Wednesday January 23.

The company’s ISA is unique in that it offers investors three different portfolios of funds - Income, Cautious Growth or Balanced Growth - online.

Each of the portfolios includes between eight and ten different funds, selected by O+DFM’s team of investment professionals situated in Belfast, Derry and England.

David Crozier, Investor Director at O+DFM said: “The aim of this new ISA is to simplify the often needlessly complicated process of ISA investment. Many people find the financial documentation sent to them overwhelming, with the result that they buy unsuitable investments.

“With our new online ISA, O+DFM has selected what we believe are the best funds across a wide range to enable cautious and balanced growth or an income.”

The online scheme offers investors a chance to still choose the funds and the amount invested in each one, making it is less bewildering and complicated to make choices. Mr Crozier added: “By placing the ISA onto our website we can further simplify the process.”

NI representative from Skandia, Desmond Stewart, Open+Direct’s technology partner said: “We are delighted to be working with O+DFM whom we have found to be a very professional company, with a dedicated and well respected team of advisors, and in particular, one which is eager to embrace technology for the benefit of their clients.” (AMcE)