OnLine Investments and ICLUBcentral Sign Co-marketing Agreement
March 17, 2003 -
OnLine Investments and ICLUBcentral to Bring Low-cost Brokerage Services to Investment Clubs
CAMBRIDGE, MA and RESTON, VA March 17, 2003 -- ICLUBcentral Inc. (www.iclubcentral.com), the market leader in affinity group software products, and OnLine Investments, Inc. (OLI), a unique financial services company dedicated to long-term investors, today announced a co-marketing agreement that will bring a new and valuable range of financial services to investors. Through MyStockFund Securities, Inc., the investors who use ICLUBcentral’s financial management software can participate in dollar-based investing and fractional share ownership as they pursue their investment strategies.
ICLUBcentral customers can now sign up for a MyStockFund brokerage account by clicking on the MyStockFund banner advertisements. By doing so, members can enjoy all of the benefits that MyStockFund offers, including: the ability to purchase fractional shares from hundreds of companies, exchange traded funds and bond funds; a low annual fee for unlimited monthly purchases; low minimums; free dividend reinvestment; an automatic stock purchase program; and a range of educational and financial services designed to better assist the long-term investor. Additionally, ICLUBcentral customers will receive a discount off their first year’s annual fee.
"ICLUBcentral has transformed the investment club marketplace by enabling investors to create and manage their own investment clubs online," said Stewart Christ, co-founder and president of OnLine Investments. "Through our partnership with ICLUBcentral, investment clubs will have the ability to easily collaborate on investment decisions, execute transactions and manage bookkeeping – all online. Together, we provide clubs with a cost-effective, flexible and convenient way to pursue their long-term investment strategies. This is a win-win situation for everyone."
"MyStockFund offers a unique service to meet the needs of investment clubs, which is why we're so excited to have entered into this agreement," said Robert Brooker, CEO of ICLUBcentral. "Investment clubs tend to have a long-term outlook and a do it-yourself approach. MyStockFund has built its business for this type of investor, creating online brokerage services designed for investors who want to do their own research and make their own decisions for an affordable price. Our customers will be delighted to have MyStockFund as a valued investment partner."
ICLUBcentral Inc. develops and supports software products to address the specialized needs of affinity group members, including individuals involved with trade associations, membership societies, and civic, fraternal, and philanthropic organizations. Started in 1989, this effort has been so successful that ICLUBcentral now provides accounting and tax software to a majority of investment partnerships in the United States—nearly 60,000 in all—via software programs distributed by the National Association of Investors Corp., a national non-profit association dedicated to investor education.
About OnLine Investments
With headquarters in Reston, Va., OnLine Investments, Inc. (OLI), is a financial services holding company that has developed a convenient and cost-effective Internet-based investment and savings product geared to long-term investors, many of whom do not currently own common stocks. Co-branded versions of the product are available through channel partnerships that OLI will be establishing with organizations, affinity groups, financial services and benefit providers. MyStockFund Securities, Inc., member NASD/SIPC is the wholly owned broker-dealer subsidiary offering the securities trading platform. To learn more visit (www.olistocks.com).