Hoodless Brennan to close online share dealing

Ranchero_2

I saw this coming with Hoodless Brennan.
The difficulty they have is in ensuring important information relating to traders shares is sent to them. For instance, I never got a dickie bird relating to the HBOS shares being delisted an issue currently being investigated by the Financial Ombudsman.
Waterhouse is okay if you do ten trades in a quarter and I would hope that I would qualify just. But the £12.25 fee is a bit steep if you don't.
While Hoodless Brennan was not very good at the communication side - and once you realise this you just have to manage it, it was the cheapest out there and I like the portfolio layout.
Having said that it was clear in the last few weeks or so that the updating of prices was getting slower and slower.. another sign perhaps that all was not well.
Hoodless Brennan has got into trouble by the regulator over its share dealings and they did with me try a bit of a hard sell on shares they wanted to punt... which I would not touch with a barge pole.
Once you get past that, the actual facility was fine for me.
What Waterhouse seems to offer that Hoodless doesn't is international trading. Which might well be worth the extra quid.
However I would love to be able to testdrive the Waterhouse site before I commit.
From the sound of it, it is the most economical out there after Hoodless Brennan.
The £10 admin fee would not come into the equation if you use the account, which I would think the majority of people would, so it is not something I would concern about.
Apart from that it is the flat fee and ensuring you do ten trades a quarter.
If there is a better flat fee without any strings out there apart from Waterhouse I would love to know about it.

frank40

I'm in the same situation as the rest of you. Not sure what to do. I've read the TDW Terms and Conditions and think an important difference is that a trade is not contractual at the accepted price until TDW come back with the confirmation (which may be at a different price), with no right of refusal by the customer. This is a critical and fundamental difference to HB. Not sure I can live with it.

oxenryd

Following the information given by Dave101t, i m looking at sharecrazy.com

they state

9.99 PER TRADE FLAT FEE


NO QUARTERLY ACCOUNT CHARGES

NO INACTIVITY CHARGES
STOP LOSS & LIMIT ORDERS 24/7

k8r4u

I've used TDW for ten years or so, no complaints or I've have left well before now ! I've got half a dozen accounts with them, from ISA to regular investment (£1.50 per trade monthly portfolio builder type account), regular trading accounts, savings account etc.

Range of products is fine, normal execution trades £12.50, only pay quarterly inactivity fee if you do under 10 trades per quarter OR have under £5k in your account.

No gripes with the website: portfolio management, real-time quotes, market research, company info etc. etc. all the usual.

Overall as good as any I've used, nothing out of the ordinary, it just works !

Pssst

The_MoneySavingKid wrote: »

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

I quite like dealing with TD and i like the interface.

They have had bandwidth /server issues for a while,especially at peak traffic but they do promise that ongoing upgrades are happening.

Hatone

I too received an email from HB.

However, I'm reluctant to move to TD Waterhouse because of their inactivity fee. I'm holding onto my shares for now (for at least 2-3 years) and won't be trading again until the Autumn. I suppose I can still leave my account with HB for now knowing I won't be able to execute a trade unless I switch.

k8r4u

Do you have over £5k in your portfolio ? If so, there's no inactivity fee.

skylight

Is there a transfer fee for moving elsewhere and not to TD?

magpiejay

Pssst wrote: »

I quite like dealing with TD and i like the interface.

They have had bandwidth /server issues for a while,especially at peak traffic but they do promise that ongoing upgrades are happening.

Hoodless Brennan have been also having bandwidth troubles for a while due to the volume of traffic and accounts. If TDW suffer the same, what's going to happen when they suddenly get all the Hoodless Brennan accounts on their system? Obviously they'll have to upgrade pretty sharpish...one hopes.

Am looking into Share Crazy (have emailed them to ask what's going on with them). In theory, if most of the traffic moves to TD Waterhouse, HB's servers (those used by ShareCrazy) should improve a lot.

ian-d

Looking at the faq's, you'll pay only £8 per trade for a year, after which point you'll pay TDW's rates.

You won't pay an inactivity fee of £10 per quarter in the first quarter, but will after this time if you don't trade at least once!

Account management:
TD Waterhouse does not charge an account management fee as long as you trade at least once in the quarter, or have total assets in your account of £5,000. A fee of £10+vat per quarter is charged on accounts which do not meet these criteria.
We will be waiving this fee for the quarter in which you transfer to TD Waterhouse.

What's the other option of sending share certificates, how would you sell these when that time comes, is it expensive?