I've been reading a lot of "how to make money in shares" books lately, and one idea I came across that seems interesting is a share plan where you organise with the company to buy a certain $ worth of their shares automatically at the going price each month. Eg, organise with BHP to buy $100 worth of BHP shares on the 15th of each month. According to the book it's a way to accumulate shares without paying brokerage fees.
Unfortunately I can't remember which book it was in, only that the book was an American one which makes me wonder if any companies over here do something similar? I know that managed funds do, but I want to have a little bit more input into which shares I buy.
So my questions are ...
Does anyone know any Aussie companies that do this?
Has anyone tried this or heard of it before?
Does anyone have some thoughts on this as an investment strategy for someone on a low income who can save a little each month?
Thanks in advance for any replies.
BHP is only used as an example here, I have no idea if they do this!!