Victoria Mutual Wealth Management reduces online commission fee
Victoria Mutual Wealth Management (VMWM) has reduced its equity trading commission rate from two per cent to 0.75 per cent for online clients.
This means that VMWM clients now benefit from this reduced rate for every trade that they make online effective July 12, 2019, whether buying or selling stocks on the Jamaica Stock Exchange (JSE).
“The driving factor behind this move was the empowerment of our clients and Members. As a mutual, one of the core values of the VM Group is Member Focus. The VM Group strives to give value to its Members and this is just another way that we are giving value back to our members”, said Rezworth Burchenson, Chief Executive Officer, Victoria Mutual Wealth Management.
He continued: “as the investment arm of the VM Group, we have a vested interest in seeing the investor community continuing to grow and to unlock wealth and financial independence. At VMWM we believe that a key avenue for creating wealth is the stock market and that, through online trading, clients have more control and flexibility over their own trades. This reduced commission rate will enable VMWM clients to trade more and realize greater returns on their trading activity”.
Some of the benefits of online trading for the investor include real-time monitoring of investments, faster execution of trades, greater responsiveness to new market information, avoidance of brokerage bias and increased control and flexibility over their own trades.
As such, the demand for online trading has increased in recent times and clients have been showing signs that they are embracing this sense of autonomy.
This move will empower VMWM’s clients to become more involved in the capital market. Further, it will increase their purchasing power when trading equities, as the cost for trading is reduced, the company added.