Web site opens for finance advisers

PUBLISHED : Friday, 17 March, 2000, 12:00am
UPDATED : Friday, 17 March, 2000, 12:00am

A Web site has been launched to enhance the services of independent financial advisers.


The Internet site, Nav global.com, can provide daily updated information about insurance policies, savings plans, bonds, unit trusts and equities.


Through the site, financial advisers can obtain reports including client valuations and fund holdings.


The Web site will help financial advisers 'streamline their administration and back-office functions, saving time and money,' said Ian Fleming, Navglobal.com's general manager.


Clients of financial advisers can also use the site to view up-to-date net-asset values of their investments, Mr Fleming said.


Financial advisers charge commissions to the owners of the investment portfolios they manage.


Navglobal.com will generate most of its revenue by charging a small rate on the commissions of financial advisers who use its Web site.


The company has initially targeted Hong Kong's 200 financial advisers, but it eventually plans to sign up advisers from around the Asian region.


Navglobal.com, owned by about 30 investors, was looking for partnerships with Internet brokerages, Mr Fleming said.


'Since our site does not trade shares, we are not competitors,' Mr Fleming said.


Partnerships with on-line brokerages could bring extra expertise and content to the site, he said.


About eight financial advisers had already signed up with the site.