In 1995 Equity Trustees introduced the Portfolio Minder service.
Innovative at the time, this service allowed clients to take total control of their equity investment decisions, while relinquishing all the record-keeping and transaction detail to Equity Trustees.
The Portfolio Minder service created a database of the portfolio, including maintaining CGT (capital gains tax) indexed values for each share parcel, liaising with clients’ share brokers, settling transactions, taking up share issues (where advised), registering share holdings, collecting dividends and income and investing cash daily.
Clients, who were quick adopters of the service, got regular statements detailing all their portfolios’ activity, especially that all-important information on income tax and CGT obligations.
The system has since been superseded by electronic platforms, with Equity Trustees constantly reviewing how it delivers statements and portfolio activity, and meets access requirements of private clients.