Business
Investment in Hubwise Holdings Limited
Investment in Hubwise Holdings Limited.
About this update from Jarvis Securities Plc
[{"type":"text","content":"\n \nRNS Number : 8933Q Jarvis Securities plc 26 October 2011 \n \n\nJarvis Securities plc (\"Jarvis\" or \"the Company\")\n \n26th October 2011\n \nInvestment in Hubwise Holdings Limited\n \nJarvis is pleased to announce that it has today entered into an agreement with Hubwise Holdings Limited (\"Hubwise\"), a new start-up company. \n \nHubwise have designed a web based, integrated solution targeted at IFAs and wealth managers. The solution offers straight through processing for a broad range of financial products. It is a low cost, Retail Distribution Review (RDR) compliant solution.\n \nUnder the agreement Jarvis will invest £200,000 in return for a 15.38% shareholding in Hubwise. Andrew Grant, Chief Executive, will also be appointed to the board of Hubwise. \n \nJarvis has also entered into a commercial contract to provide model B settlement services to Hubwise.\n \nThe opportunities to Jarvis will be threefold:\n \n- Jarvis will provide settlement services to Hubwise, creating an additional NAV-based income stream;\n- Jarvis anticipate gaining further introductions to its model B stockbroking service from Hubwise; and\n- Jarvis can benefit from additional income through a predefined dividend policy with Hubwise.\n \nThe Board anticipates that the agreement with Hubwise will be income-enhancing to the Company during the 2012 financial year.\n \nAndrew Grant commented:\n\"Our success at Jarvis is driven by our ability to provide administrative solutions with market leading efficiency. This investment and commercial relationship with Hubwise gives us a significant opportunity to apply this strength to a broader range of financial products and services.\"\n \n \nEnquiries:\n \nJarvis Securities plc tel: 01892 510 515\nAndrew Grant\n \nArbuthnot Securities tel: 020 7012 2000\nAndrew Kitchi...