Stockbroker transfers

Stockbroker Transfers – More Evidence of Unreasonable Delays

Back in November I wrote about the delays that can occur in switching a portfolio of shares from one stockbroker to another. I now have a file of 7 examples contributed by different people where such transfers took several months. This is surely totally unreasonable and unnecessary. On behalf of ShareSoc and our members I have written to the Financial Conduct Authority (FCA) complaining about this problem and have received a response which provides some more information at least. The FCA does have ...

Stockbroker Transfers – Why So Long?

  Why, oh why, do transfers between stockbrokers take so long? Having just suffered the second delay of three months or more to simply switch from using one stockbroker (or "investment platform" as some now prefer to call themselves) to another, I am now writing to the Financial Conduct Authority (FCA) to demand some action on behalf of investors. Other ShareSoc Members have reported similar delays on a regular basis and I am building up a portfolio of cases to support our submission ...