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VCTs added to GrowthInvest’s platform


 

GrowthInvest has launched a dedicated VCT area on its platform which when went live at the same time that many of the VCTs began to announce their latest offers.

The VCTs will sit alongside the existing investments in EIS and SEIS funds, portfolios and single companies.

GrowthInvest is an independent platform for advisers and their clients in the tax efficient investment arena.

The new area will include new VCT offers, alongside key data on existing VCTs and links to third party information and research. It can facilitate both execution only and advised investments.

GrowthInvest believes the new service will strengthen an already compelling solution for investors and advisers looking to find an intelligent single option for their tax efficient portfolios.

This year promises to be one of the largest years for funds raised through VCTs, with some commentators already suggesting that funds could pass the £542 million raised in 2016/17.

Managing Director of GrowthInvest Daniel Rodwell (pictured above) said: “We are delighted to be expanding out our offering, and have received great support and feedback from both advisers and their clients. The addition of VCTs to the platform is something that has been planned since our relaunch in 2016.

“VCTs and EIS go hand in hand for many advisers, and they play a slightly different role in a client’s tax efficient portfolio. As well as the obvious attractions of the tax incentives and growth potential of these exciting British investments, our long-held view that VCTs and EIS can play an important element in long term retirement planning, has been absolutely backed up by our work and conversations with advisers over the last 12 months.”

A unique focus of the GrowthInvest platform is its Asset Consolidation service, which allows clients to consolidate their existing investments onto a single platform. This has always included VCTs and other alternative assets.

Operations Director at GrowthInvest David Lovell added: “Advisers and their clients have given us a clear message that they wanted to see new VCT offerings up on the platform, and that they wanted to make the investment process as smooth and straightforward as possible. Subject to the specific requirements and agreement of each Venture Capital Trust, we are now able to offer an online VCT investment service which sits very well alongside the existing range of EIS/SEIS investments.

“We believe that a single consolidated tax efficient portfolio has a number of clear benefits in both the short and long terms, and is the logical step for the vast majority of tax efficient investors.”

Head of the tax-efficient division at LGBR Capital Jack Rose commented: “Advisers are always keen to look for effective tools and technology that can help their clients, and bringing VCTs into line with EIS portfolios on a single online platform will make a lot of sense for many advisers.”

GrowthInvest is actively promoting the service across its programme of pitch presentations, round-table lunches and regular adviser email communication channels.