Investment club broker

[Douglas Keir]

Does anyone know of an established broker who is accepting new investment clubs as clients? II am involved in a new one and we are having trouble finding one.

[Mark Bentley]

Hi Douglas,

ShareSoc members have reported that both interactive investor and Hargreaves Lansdown offer a service for investment clubs.

Best,
Mark

[Douglas Keir]

In reply to reply #16984

Thanks for getting back, but we have contacted both and neither are accepting investment clubs at the moment. HL indicated that they hoped to re-open when lockdown was ended.

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[Mark Clenshaw]

Letter received from Interactive Investors giving notice that they are no longer to provide dealing services to Inv Clubs. I find that HL and AJ Bell have also withdrawn from offering club dealing. Does anyone know of a preferably mainstream broker still offering this? Thanks

[Sandy Forbes]

In reply to reply #31815

We are in the same position with II closing down Investor Club services. To date we have only found iDealing to be offering Investor Club accounts

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[Richard Jones]

We too have the same problem with Interactive Investor closing down all Investment Clubs. I tried contacting iDealing and received the following reply:-

iDealing Admin
Mon 1 Sept, 08:23 (1 day ago)
to me

Dear Sir,

We appreciate your interest in iDealing.

Due to the current AML and regulatory requirements, we are not currently
accepting new Investment Club Applications.

Kind regards,

The Admin Team

We also wrote to Interactive Investor for suggestions but they were unable to forward any suggestions. Have you or anyone else found a broker that will accept a transfer? We fear it could be the end of our club if we don’t find one before our next meeting on the 27th September

[John Calvert]

I’ve had a no from AJ Bell, iWeb, Hargreaves Lansdowne, Interactive Brokers, iDealing and Trading 212. Money Laundering and financial regulation seem to be making these accounts unattractive to stock brokers. If anyone gets a positive result please do let us all know.

[Mark Bentley]

Thanks for the comments, all.

ShareSoc’s board is looking at actions we could take to help alleviate this situation.

Best,

Mark

[Richard Jones]

Thank you Mark and All. That has saved me writing to and researching the brokers mentioned by John.
We look forward to hearing if there is anything you can do or if anyone else finds anything.

[William Fawkner-Corbett]

When I looked at this a few years ago, Redmayne Bentley were still taking on new Investment Club accounts.

[John Calvert]

Also had a no from Halifax, Redmayne Bentley and Fidelity. Anything you can do, Mark, would be much appreciated.

[Richard Jones]

In reply to reply #31868

Thanks for the update John. I was going to try Redmayne Bentley after Williams post but obviously that has gone as well.
It looks like you are exhausting all avenues 🙁
Fingers crossed that Mark can come up with something.

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[Sandy Forbes]

I received a no from iDealing today but a more positive note from AJ Bell
AJ Bell
Aaron Willsher
0345 543 8929

RE: Investment Club Services
02/09/2025 11:46:01
Good Morning
Secure messages
Thank you for your email. Unfortunately, AJ Bell do not currently offer a Dealing account for an Investment Club. That said,
we are aware 02/09/2025 12:35:04 of Interactive Investors (II) decision to cease offering these account types from Monday 27 October. Given the volume of
enquiries we have received on the matter we are collating key information to present to our Product Team to see if we would consider
offering this new account type, which if approved, would allow you to transfer this account over to AJ Bell. Whilst I cant make any guarantees at this stage, please can I kindly ask you to provide the below information as soon as possible:

· The approximate value of your Investment Club Dealing account
· How many members are involved in the Investment Club
· Whether every member has a unique login to access the account with II or if one member
is designated as the nominated contact for managing the account / receiving all communications
· Any other key information that you think would be useful to pass on, for example, the account set up with II, the
governance of the Investment Club or the initial account application process
If you can return the above information to me as soon as possible then Ill come back to you in due course to confirm
whether we can offer a solution for you.
Yours sincerely
Customer Onboarding Team

[Richard Jones]

Wow, thanks for sharing that with us Sandy. I guess the more of us that express an interest, the more likely they will do something. I’ll also get in touch.

[John Calvert]

Had the same email from AJ Bell this morning. So, everyone, please do contact them, as the more that do, the better the chance AJ Bell will take us on.

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