[Richard Jones]

So sorry to hear that John. It has further confirmed that we made the right decision, sad though it is 🙁

[Richard Jones]

Good luck all of you that are still trying. We have now paid everyone out and closed our club 🙁

[Richard Jones]

Thank you Mark for trying, your efforts are very much appreciated.
I’m afraid we have decided that this is now too much of an obstacle for our little investment club to overcome so we have agreed that it is time to throw in the towel and wind up the club. Such a shame, we have been running since 1998 and have been forced into this through no fault of our own.

[Richard Jones]

So our stumbling block will be that we don’t, currently, have an LEI number for the Investment Club.

[Richard Jones]

Maria has replied as follows:-

Hello Richard,

Thanks for your email.

Please follow the link below to start an application for a proprietary trading account. This is the type of account for investment clubs. Please go to Institutions -> Business/Organization,

https://www.interactivebrokers.co.uk/Universal/servlet/formWelcome?p=100&atype=ORG&ibsrp=609

At the end of the application, you will have the option to upload the documents. We will need,

Proof of existence
Proof of principal place of business
List of partners in the investment club
Proof of address and identity for all the partners in the investment club
LEI number for the investment club

Please contact me should you have any doubt during the application.

Best,

Maria Dieguez Rodriguez
Sales Executive | Sales
+44 207 710 5634
mdieguez@interactivebrokers.co.uk

[Richard Jones]

In reply to reply #31941

I have written to Maria Dieguez, (mdieguez@interactivebrokers.com), a sales representative for Institutional Sales and will let you know if I receive a reply.
I have also found two other contacts within the Institutional Sales Contacts, in case anyone else wants to try:-

Joyce Blok (jblok@interactivebrokers.com) Sales Representative
Gerald Perez (gperez@interactivebrokers.com) Managing Director, Sales

Institutional Sales Contacts

Regards,

Rich

---

[Richard Jones]

Hi Mark,

Thank you for your feedback and for talking to AJ Bell this morning.
We don’t have an LEI. Is it possible that Interactive Investor would have done that on our behalf, having attained all the information that they would have needed from the club members?
We can try Interactive Brokers, as you suggest, and let you know how we get on.

Thanks again,

Rich

[Richard Jones]

Thanks Mark and good luck, I’m sure we all have our fingers crossed.

[Richard Jones]

Thanks for sharing with us Sandy. I also looked at the FCA register and they are registered on there but as John says, it appears to be a one man band with one director and nine resignations! I will hold out to see what AJ Bell can do but keep it in mind if they fail to come up with anything to help us.

[Richard Jones]

Great news Mark. Fingers crossed.

[Richard Jones]

Thank you Mark, much appreciated. You and AJ Bell are giving us a glimmer of hope that our investment club can survive.
I received a reply from AJ Bell this afternoon:-

Customer Onboarding Team <CustomerOnboarding@ajbell.co.uk>
12:33 (2 hours ago)
to me

Dear Mr Jones

Thank you for your email.

Unfortunately, AJ Bell do not currently offer a Dealing account for an Investment Club. That said, we are aware of Interactive Investor’s (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 see if we would consider offering this new account type.

Thank you for providing the key information below regarding your Investment Club. I have passed all the details over to our Product Team to review and we’ll come back to you in due course to confirm if we’re able to offer a solution for you.

I can’t make any guarantees at this stage as we’re against the clock with II’s deadline under 2 months away. It could well be that we have insufficient time to make the necessary system changes to introduce this new account type before 27 October. Nonetheless, I’ll come back to you shortly to confirm either way.

Yours sincerely

Aaron Willsher
Customer Onboarding Team

Customer Onboarding Team
|
AJ Bell
​​​​
Tel: 0345 543 8929
Website:
http://www.ajbell.co.uk

[Richard Jones]

I used their ‘Not yet a customer’ option to send them a message last night.
I’ll let you know if and when I receive a reply.

[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.

[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.

---

[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.

[Author]

Posts