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Designated nominees: cost?
Thought I’d post this to see if it stimulates any discussion.
“Designated nominees” (where you have your own nominee rather than pooled in with all your broker’s other clients) have recently become obligatory (European Union’s Central Securities Depositories Regulation), and brokers are obliged to offer them now.
I believe the official title for designated nominees is “Individual Client Segregated Accounts”
Does anyone have any figures for what any broker is charging from them. I’ve heard an indicative figure of £1000.
Yes, there will be charges & costs involved, so a fee to the client is understanding, but I’m interested in what brokers might be charging.