148 Opening online unit trust account (unit trust with servicing agent)
Introduction
Phillip Mutual has once again stand one step ahead—opening of FAME unit trust investment account (with servicing agent) online. That said, Phillip Mutual has two type of unit trust investment accounts that can be open online.
- Wrap / Non-Wrap unit trust account is our normal unit trust investment account where we agent used to meet client to sign them up by filling forms. Wrap / Non-Wrap account is suitable for clients that need agent's advice on fund selection or switching etc.
- Non-WRAP Account: Higher upfront Service Charge, higher inter-fundhouse switching fee, nil quarterly WRAP fee.
- WRAP Account: Lower upfront Service Charge, nil / minimal inter-fundhouse switching fee, quarterly WRAP fee applies.
- eUnitTrust account is a cost-saving investment account (refer to 147 eUnitTrust — Cost-efficient and convenient way to online unit trust / PRS investing)
Because of Movement Control Order (MCO), social distancing has become a new norm. At least for a short while, investors may not want to go to crowded place to meet an agent to sign up a new unit trust investment account. How wonderful if this step can be done online and future correspondence can be done through phone calls or emails with agent.
