Japanese online trading company Monex, Inc, a subsidiary of Monex Group, Inc (TYO:8698), today announces that it will act as a contracted trust agency of Monex SP Trust, Inc. Under the agreement, as an intermediary of Monex SP Trust’s stock management service, Monex will start offering “Takusu Stock,” designed to help customers be prepared for their life events, for instance, dementia or inheritance.
This is the first ever stock management service offered in the security services sector that allows stock sales and fund withdrawal by a designated third-party on behalf of customers. The aim is to relieve some of the inconveniences and stress experienced by customers, thereby helping to resolve some of the social challenges and playing a part in building a sustainable society.
The stock management service, “Takusu Stock,” leverages the trust scheme to hold customers’ stocks and ETFs in the designated accounts of Monex Trust SP. Based on the trust agreement, the scheme allows family members to sell securities and withdraw funds if a customer is diagnosed as having dementia. When these securities need to be passed down for inheritance purpose, the funds in the designated accounts will be handed over in a timely manner to the designated family members.
Monex and Monex SP Trust say they will keep enhancing its services to accelerate the Japan segment strategy, the transformation to the “Asset Management Model”.