Brokers

Share Centre Future and FT Spoofing Article 

The Share Centre recently advised their customers of “Our Future with Interactive Investor”. It gave details of the transfer of accounts to the Interactive Investor platform following the acquisition of the Share Centre business. However they failed to point out one important point which customers need to be aware of. Share Centre ISAs are “Flexi ISAs”. This means that you can take cash out of the ISA and put it back in so long as you do it in the same tax ...

A Liquidity Fairy-tale

Introduction This article is about the prices you pay or get when you buy or sell shares. It may seem somewhat technical and arcane, but please bear with me, as those prices can have a significant effect on your investment results and hence this issue affects all investors. I will cite a specific example which illustrates how much existing systems that your broker offers are costing you. Quote Driven Markets vs Order Driven Markets There has been a longstanding debate about the merits of ...

Share Centre Takeover and Holding Unlisted Shares

This morning it was announced that the Share Centre (Share Plc: SHRE) were recommending a takeover bid from Antler Holdco, the holding company of Interactive Investor and the ii...

Draft Response and Petition on LSE Market Hours Consultation

Further to my earlier post on this subject, I have now drafted a response, on behalf of ShareSoc, which you can download here: Response to LSE Consultation on Market...

Bucket Shops are Back

I recently saw an advertisement on Twitter for a company, who shall remain nameless, offering to trade “fractional shares”. That means instead of buying a whole one share of...

The Vultures are Circling – Woodford, Carpetright et al

With the demise of the Neil Woodford’s empire and the winding up of the Woodford Equity Income Fund, investors are looking for whom to blame – other than themselves...

Woodford and Hargreaves Lansdown

To follow up on my previous blog post over the collapse of Woodford Investment Management and how to avoid dud managers, the focus has now turned in the national...

Another Update on the SVS Special Administration

Since my last update, there have been several significant developments: Leonard Curtis have published a "Statement of Proposals", setting out their plans for returning client money and assets A creditors' meeting has been held and a creditors' committee has been appointed Scammers have been trying to defraud SVS clients Another firm, Reyker Securities, enters special administration   Avoid the Scams Sadly, in cases like this, scammers will often prey on the worries of clients of failed firms, suggesting that clients might lose all or ...

An Update on SVS Securities

On 5th August the FCA announced that broker SVS Securities had entered Special Administration. Once again, as in the case of Beaufort Securities, this is a situation that will...

Broker Charges, Proven VCT Performance Fee and LoopUp Seminar

The Share Centre are the latest stockbroker to increase their fees. The monthly fee for an ISA account is going up by 4.2% to £5.00 per month with increases on ordinary share accounts and SIPPs also. This is the latest of a number of fee increases among stockbrokers and retail investor platforms. The Share Centre blame the required investment in technology development and “an increasing burden of financial regulation”. The latter is undoubtedly the result of such regulations as MIFID II ...