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New B2B iFAST stockbroking service hopes to attract mass-market, affluent clients

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Asked what the take-up rate had been like, iFAST CEO Lim Chung Chun said a "couple hundred" clients have started on the service. Many are existing clients, including dormant accounts. Meanwhile, account enquiries have increased. "It's only been two weeks," he said.

Singapore

WITH some financial advisory firms on its side, fund distributor iFAST Corporation will launch on Friday a business-to-business stockbroking service with stock commissions as low as 7.5 basis points (0.075 per cent).

Financial advisers can now manage stocks for clients

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