I believe many private investors should seriously consider online dealing together with independent advice. What many private investors don't realise is that you can buy funds covering any asset class on the stock market. Quoted, or listed, funds are cheaper, more transparent and the choice is better. For those not wishing to pay income tax on dividend income as per comment above, you can stick with non-yielding funds that roll-up the income. And, of course, there are stocks. One caveat I might add is that the gillenmarkets website has nothing to do with dealing, we provide independent advice only on our website. We do have a banner advert from the online dealing broker, FXCM of London.
I am negative on traditional stockbroking, which is a selling model, although I should not tar all with the same brush. Elsewhere, the whole IFA market (or investment intermediary market) in Ireland is also a selling machine with intermediaries being paid by the product seller. How can you get an honest service if the guy on the other side of the table needs a sale!
Our website is the only one of its kind in Ireland. But there are many offerings like mine in the US and of course a private investor might subscribe to a few websites to get different views and services. The Internet has changed the way we can invest and has given the power of choice and control of costs back to the investor.
Rory
