SPRINGFIELD, Ohio, Sept. 28, 2016 /PRNewswire/ -- EF Hutton America (symbol: HUTN) announced today the introduction of a set of new financial products that will provide Main Street investors with greater choices and the best value.
EF Hutton, long known for its attention to clients, is opening its doors today with a wide range of investment choices that include online trading of stocks and options, online investing with multiple service levels – standard, premium and institutional/high net-worth. Institutional services will start in October.
"Main Street investors have cried out for a new approach from financial providers that is free from conflicts of interest," said EF Hutton CEO Christopher Daniels. "Our no-commission model answers that call and aligns our interests with our clients' in a way that eliminates conflicts. EF Hutton clients can trade and invest for no commission, and our unlimited trading promotion offers a value that no other firm comes close to offering."
"Our MAIN STREET PRICING approach is simple and straight-forward –one single price with no commissions," Daniels said. "EF Hutton can provide investors with the best service value because we have a low cost structure and we use the most advanced technology." He continued, "this is a 9.2 on the Richter-scale for investors."
Furthermore, investors can unify all their accounts with EF Hutton. Until now, many investors kept two accounts- one with a discount broker and one with an investment advisor. EF Hutton's MAIN STREET approach makes it compelling for investors to keep both accounts with EF Hutton.
Website Opening on Wednesday, September 28
EF Hutton expects hundreds of thousands to visit www.efhutton.com. Although the special offer ends October 15, EF Hutton recommends investors avoid rushing to the site the first day to open an account. In the first day the high volume of visitors may result in slower response times, delays or error messages due to the expected heavy volume because each account opening process involves multiple calls on servers.
Unlimited Trading – as low as $19.95 – Low-Price Promotion Ends on October 15
As a special promotion to welcome new clients to EF Hutton - customers who open an account before October 15, 2016, will receive unlimited trades for listed stocks, bonds and options for as long as their account is open for one low monthly fee – forever (as long as they maintain an account with EF Hutton).
The flat-monthly fee for unlimited trading is based on the amount held in a customer's investment account. Stock trades starting at $29.95 per month and as low as $19.95 per month, for clients that also have an investment account with EF Hutton, for listed stock trades and option trades starting at $49.95 per month and as low as $39.95 for listed options (see website for details). By comparison, some other online trading services charge as much for a single round-trip stock trade.
Daniels noted that almost all investors will benefit from this simple, flat-fee pricing promotion, though the chance to get in on the special offer ends on October 15. Trades are executed through EF Hutton's strategic partner, a FINRA registered broker-dealer.
Lowest Investment Services Fees of any Nationally-Branded Firm
EF Hutton is also providing investment services for a low fixed fee, as little as 25 basis points (BPS) per year, for most self-directed accounts. This applies to IRAs, 401ks and other retirement and investment accounts and is the lowest fee of any nationally-branded firm, Daniels said. EF Hutton's three levels of investment services are:
- Standard Investment Service – Ideal for fully self-directed investors with fees as low as 25 BPS per year.
- Premium Investment Service – Designed for investors with portfolios over $250,000 who want to be actively involved in their investments and want some guidance from an investment advisor, with fees of only 50 BPS per year.
- Institutional Investment Service – For clients with large portfolios and more complex investment needs. These clients will be served by a dedicated investment advisor. The fee is only 84 BPS per year.
Importantly, the EF Hutton fees are all-in "wrap" fees without extra charges that other providers charge.
"When we moved our headquarters to Main Street we said it was a signal of our commitment to a new approach for investors," Daniels said. "Today, we demonstrate that approach with these products."
More details about EF Hutton financial products are available at www.efhutton.com
And More to Come
EF Hutton plans to introduce more investor-friendly services later in October. The new services will add value by making it easier for investors to get started and help them to manage and protect their money.
About EF Hutton
EF Hutton is a legendary brand in financial services. For 112 years it has been known for its attention to clients. The firm developed many innovative financial products such as the investment advisor "no commission" model and has now extended that to "no commission" trading. EF Hutton provides financial products and services using advanced technology to better serve clients. EF Hutton stock is traded under the symbol HUTN. Learn more at www.efhutton.com
Cautionary Note Regarding Forward-Looking Statements
Certain statements contained in this press release that are not historical facts may constitute "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), and are intended to be covered by the safe harbor provisions of the Private Securities Litigation Reform Act of 1995.
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SOURCE EF Hutton America