Brokers

Platform Transfer Finally Completed and Pointless Trust Changes

Good News! A transfer of one of my SIPPs from one platform to another has finally been completed today (22nd June). I initiated the transfer on the 12th January this year so this has actually taken over 5 months. A totally unreasonable period of time for what should have been a simple transfer of cash and a few direct shareholdings of UK listed crest stocks. However their failure to collect the tax refunds on PID dividends on some of the holdings ...
Post Date: June 22, 2021 Read more

Buying, Selling and Voting US shares

by Cliff Weight, Director ShareSoc. The Gamestop upcoming AGM votes have highlighted the differences in the platforms. Some still do not allow you to buy US shares. Notably Interactive and eToro will allow voting of Gamestop shares. I was sent the information below by a journalist, which looks right, but I cannot guarantee it is so. These things often change. I understand that Hargreaves are looking at making voting easier and considering using Broadridge. That would definitely be a great step in the right direction. Platform Access to US ...
Post Date: June 2, 2021 Read more

Platform Transfers – It’s Even Worse Than Thought

I commented last month on an article in Investors Chronicle by Mary McDougall on the subject of platform transfers, and how they are inordinately slow. Despite past efforts by the FCA, the situation does not seem to be getting any better. My latest transfer, which was commenced on the 12th of January, is still not complete. The shareholdings have recently been transferred to the selected new platform but not the substantial cash holding in the portfolio. But according to the latest article ...
Post Date: April 16, 2021 Read more

Platform Transfers – “Progress has been pitiful”

There is a very good article in this week’s Investors Chronicle by Mary McDougall on the subject of platform transfers. I have sent her the following email: Mary, On the subject of platform transfers, you are quite right to say that “It appears progress has been pitiful”. I have done several such transfers in the past and none has been completed in under 3 months. The FCA initiatives to improve matters has had minimal impact. I am currently still trying to get one ...
Post Date: March 21, 2021 Read more

Telegraph, 23 Feb 2021, How to use your broker to hold your investments to account

The Telegraph wrote a useful article about AGMs and voting. see https://www.telegraph.co.uk/investing/shares/use-broker-hold-investments-account/ It was headed How to use your broker to hold your investments to account But the real story was in the byline - Stockbrokers require investors to jump through lots of hoops to register their vote. It also explained the problems and quoted ShareSoc: However, new investors might not know that owning company shares comes with part ownership of a company – and with it the right to vote on issues at their annual ...
Post Date: February 24, 2021 Read more

Information and Experience on Brokers and Platforms

One thing that all ShareSoc members depend upon is a good quality broker. With that in mind, we have started to create topics in our member forum. Our members can now use these to share any news or opinions and raise issues about individual brokerages. This will be helpful to other members. I have set up a separate “Topic” for each of the usual suspects in this area - https://www.sharesoc.org/forums/forum/choosing-a-stockbroker-or-platform/ Over time, I hope this will become a useful resource for members ...
Post Date: January 27, 2021 Read more

ShareCentre Flexi ISA query

A ShareSoc member has sent in this question. Can anyone help?  I currently hold an ISA with the Share Centre which is being taken over by Interactive Investor and I was interested to read Roger Lawson's article "Share Centre: The Future" in Issue 113.    In the past I had made use of the Share Centre's Flexi ISA and had assumed that the same facility would apply once my account was transferred over to Interactive Investor, but having checked with the Share Centre this ...
Post Date: January 6, 2021 Read more

Invinity Open Offer, Ideagen, and AJ Bell Results

I have recently taken a strong interest in those shares that are involved in electrification of the world. It’s not just the UK Prime Minister who wants to save the world from global warming and air pollution with Joe Biden likely to be much more environmentally conscious than Donald Trump. Those companies or trusts that are involved in alternative energy sources such as wind and solar, and systems to manage the fluctuations they impose on the grid, are of particular interest. One ...
Post Date: December 3, 2020 Read more

Epidemic Over? Unable to Trade and Chrysalis VCT Wind-Up

Pandemic News The news that the Pfizer vaccine for Covid-19 appears to work (at least 90% of the time) and has no negative side effects gave stock markets a good dose of euphoria yesterday (9th November). It suggests that we might be able to return to a normal life in future, but exactly when is far from clear. Actually producing and distributing the vaccine is going to be a mammoth task and it is very clear that it will only be given ...
Post Date: November 11, 2020 Read more

Positive Markets but Platforms Letting Investors Down

Following Pfizer and BioNtech's announcement today that early results from Phase III trials of their Covid-19 vaccine suggested that the vaccine was safe and effective, markets generally have soared. Cyclical and leisure/travel stocks in particular have benefitted whereas certain others have suffered. With this market turbulence it is not surprising that many investors wanted to trade. However, I have seen widespread reports that certain major investment platforms, including Hargreaves Lansdown and AJ Bell/YouInvest have buckled under the strain and are not allowing ...
Post Date: November 9, 2020 Read more