Hoodless Brennan to close online share dealing

magpiejay

Just logged into my share account this morning to discover that Hoodless Brennan are ending their execution-only online trading service on July 10th. As one of the cheapest on the market, that's a bit of a bummer.

They have an arrangement with TD Waterhouse to (seamlessly they say) transfer your account/portfolio to them, maintaining Hoodless Brennan's (low) rates for at least a year. (Meaning you may be held hostage by whatever fees they decide to impose after a year).

They also give the option to transfer to another provider with no transfer charges.

I read mixed things about TD Waterhouse. Does anyone have good/bad experiences with them they'd care to share to help us Hoodless users decide what to do?

sabretoothtigger

I wonder why, not profitable anymore or something. I know volumes have been dropping, is that it maybe

hoodless was £7 a trade wasnt it. Its possible TD was always handling these trades anyway, Im not dealt with them myself but it sounds reasonable

The_MoneySavingKid

Is that really bad notice,or is it just me?
I mean 6 months AT LEAST what have been more ideal than less than 30 days.
What are people's opinions on TD?
I

uk_steve

Just seen the same so i tel my hb guy which alerts me on some stocks on the aim market

he said the internet share dealing has grown so big the company sold it off for a profit


but keeping there telephone adv account

abit of a bummer !!!!!!

Dave101t

try sharecrazy.com

its ran by hoodless, but i just logged in and there are no notifications of a change.
its 9.99 per trade, no other fee's and i used it for 6 years

BellyButtonFluff

From what I have read this is the execution only accounts, yes? is that what everybody else understands by this?

By sheer coincidence I called them yesterday about closing my advisory account (to consolidate and simplify share accounts and because it had lost a great chunk of my money ). Originally I just wanted to shift into the online execution but then realised it is 4x £15 (per line item) so I figured I would just transfer them externally for the same cost unfortunately. (Heading in the direction of Hargreaves Lansdowne to meet my other accounts)

It would have been nice timing to transfer these out and be shot of all the HB accounts.


*UPDATE* Ahh... I just got the "official" email to confirm this, the info i had was a limited response to a helpdesk email sent relating to my transfers above.

qfk123

I recieved this and not really sure what to do. Tempted to go with TD Waterhouse as hoping it doesnt change the way i deal and 1 year price fix on the fees.

King_Weasel

HB execution-only is £8/trade, reduced to £6.50 for frequent traders (not sure what the definition is.).We are promised the same rates at TDW for a year, so we have a year to look elsewhere, assuming TDW is reasonably competent and their website is clear.

Can any (ex-) TDW-users confirm this?

Views welcome.

Wookey

TD Waterhouse is 9.95 a trade so not that much more than hoodless, have taken option 1.

oxenryd

Wookey wrote: »

TD Waterhouse is 9.95 a trade so not that much more than hoodless, have taken option 1.

But they have a £10 a quarter "inactivity charge".

Does anyone know of anyone that just charges you per trade - no other charges - like Hoodless Brennan ?

Many thanks

magpiejay

King_Weasel wrote: »

HB execution-only is £8/trade, reduced to £6.50 for frequent traders (not sure what the definition is.).We are promised the same rates at TDW for a year, so we have a year to look elsewhere, assuming TDW is reasonably competent and their website is clear.

Can any (ex-) TDW-users confirm this?

Views welcome.

Don't forget that they are waiving the usual 'transfer fee' this time. If you need to transfer from JD in a year's time, this won't be the case.