Please note that ShareSoc does not recommend particular platforms, but aims to keep members aware of their relative merits.
The Daily Mail reports today https://www.dailymail.co.uk/money/comment/article-6196807/JEFF-PRESTRIDGE-Investing-platform-sends-message-clear-Bell.html the good news that:
“AJ Bell has decided that its customers should not be left out of the impending stock market party. Anyone who has an account with the platform when October 15 comes around will be eligible to apply for shares(minimum of £1,000).
While AJ Bell is dwarfed by Hargreaves Lansdown – and probably always will be – the business is something of a disruptor. By competing on price, it has grabbed a three per cent share of the platform market. Customer numbers are heading towards the 200,000 mark, assets are around £42billion and it makes money.
Last week, chief executive Bell flew down from Manchester to confirm the next stage in the company’s development. Like Hargreaves and Stephen Lansdown did 11 years ago, AJ Bell is heading for the UK stock market. If all goes according to plan, it will float in December – January if there is a hiccup or two (a stock market correction).”
I have been thinking of opening more platform accounts and spreading my assets around, in view of the low FSCS limits and a desire to evaluate the relative merits of different platforms. This may now give me a chance of picking up some shares on the cheap as I think IPOs get priced to get a target 5 to 10% price bump on flotation. Too often, individual investors get excluded in placings and IPOs, see https://www.sharesoc.org/sharesoc-news/access-to-placings-for-individual-investors/
Thank you Andy Bell for your enlightened approach.
Cliff Weight, 23 Sept 2018.