Type Limited Area served United Kingdom Number of employees 13 | Industry Financial services Founded 2002 | |
Key people David Scrivens (Director)
Philip Rhoden (Director) Products ISAs, VCTs, EISs,
OEICs, Unit Trusts,
Shares, Pensions,
Annuities, Mortgages,
Life Insurance Services Discount Brokerage
Sharedealing Platform Headquarters Hemel Hempstead, United Kingdom | ||
Clubfinance is a financial services company based in Hemel Hempstead. The firm is an execution-only discount brokerage specializing in selling tax efficient investments such as Venture Capital Trusts and Enterprise Investment Schemes to private investors. The company also has a fund and sharedealing service aimed at experienced investors.
Contents
History
The company was founded in 2002 by David Scrivens and Philip Rhoden, who ran the company from David's spare bedroom until the company moved into offices in 2005. Clubfinance diversified into providing financial modelling services until the modelling services were demerged into a separate company Clubfinance Project Finance in May 2012. In July 2012 the company launched its sharedealing platform in conjunction with stockbroker James Brearley, targeted at investors that traded shares more than once a month.
Operations
After talks with competitor Intelligent Money in late 2012, Clubfinance was able to buy their direct to consumer client book, including assets under management of around £100m. The next year, it also acquired the client bank of Ivan Massow's Paymemy.com business, which was experiencing financial difficulty. Following the Retail Distribution Review, the company changed the charging structure of their sharedealing service, making their annual percentage fee lower but their charge per trade higher.
Services
The company offers no advice, and therefore only caters to clients who manage their own investments. This allows it to rebate some of the commission it receives from the products back to its clients.