FinecoBank starts distribution of PIR funds
FinecoBank is now offering Piani Individuali di Risparmio (PIR funds) to its customers through the investment platform.
Recently introduced by the 2017 Budget Law, the main aim of PIR is to encourage medium/long-term investment and to support the economy by facilitating access to credit for Italian enterprises.
Fineco financial advisors will be able to offer the plans through web-collaboration enabled by its X-Net cyborg advisory platform, which will contain all the documentation relating to PIR, as well as reporting.
FinecoBank financial advisors are continuously meeting customers to explain the characteristics of the product and how to sign up.
The PIR enables customers to benefit from full exemption of withholding and substitute taxes on any gains, returns and dividends on financial instruments, and exemption from inheritance tax, provided they are held in the PIR continuously for at least five years.