Suddenly, we're all wealthy...

[troyresearch]

Apparently Merill Lynch & HSBC's integrated banking/broking partnership aimed at the 'mass affluent' has reduced the cash account minimum from £50K to £10K:

http://www.guardian.co.uk/business/story/0,3604,486900,00.html

Have checked out the site and the full service is still in pre-launch stage (I suspect those with at least £50K find the traditional entry level private banks more appealing). Still no info on what deal costs are going to be or if it's possible to go short, but trading on margin is one of the planned facilities:

http://www.mlhsbc.com

Any opinions?

Troy

 

[shelman]

They are obviously desperate for clients and looking to recruit less affluent members than the good members of this board

 

[Riz]

hehe...

Think they'd dare with all these signatures?

Riz

 

[shelman]

I never reveal my true identity when applying for a new account.... it's hard to explain why i'm trying to kickstart an imaginary motorbike.