Hoodless Brennan - Alternative provider with no monthly charge - advice please?

FlyingWolf

Hi,

Just to clarify (in case anyone has missed the point) that TD Waterhouse will also waive account management fees for individual portfolio (ie account) balances of £5000 and over. Whilst many of us will have smaller amounts invested than this, there may have been an inference in the previous posts that TDW will levy inactivity charges period - this is not the case.

FW

Dave101t

sharecrazy:
a) As our contractual relationship with Hoodless Brennan draws to an end on 31st July, Sharecrazy is preparing to launch a replacement dealing facility charging almost exactly the same rates as before (in some cases less)

k8r4u

marvin wrote: »

Run that by me again they refused to take money off you because of your credit rating? Its not a credit account you can't trade unless you have money in the account, can you?

Strange world where a credit rating stops you spending, imagine going into tesco with cash and they say sorry can't serve you your credit rating is not up to scratch.

Of course you need a credit rating - "normal" share trades settle some days after the transaction (e.g. a T+3 buy will settle three business days later). I've never come across a broker that requires cleared funds on the transaction date, only on the settlement date. As a result the broker is exposed until your cleared funds arrive in your account, hence need to know how credit-worthy you are before taking your business.

Obviously this is different for some "regular investment/portfolio builder" style accounts (the "trade-once-a-month for £1.50" type accounts).

G_M

Dave101t wrote: »

sharecrazy:
a) As our contractual relationship with Hoodless Brennan draws to an end on 31st July, Sharecrazy is preparing to launch a replacement dealing facility charging almost exactly the same rates as before (in some cases less)

Settlement and Clearing providers to change from Hoodless Brennan to Jarvis Investment Management

There will be a slight change in the rates. The good news is that we intend to maintain the price per trade executed online at £9.99.

Jarvis apply a £5.00 per annum account charge for maintaining each account on their books, which we (Sharecrazy) will suffer for the first year only for existing clients, new clients however will have to pay this charge themselves.

Jake'sGran

ian-d wrote: »

I've now set up with iii, just waiting for password in post but did confirm with them that a single trade is £10, but there are no annual or inactivity charges so that will suit me just fine. I had sold my taster shares with HB, made some profit and they dropped the next day, so hopefully will remain low for a couple more days until I can invest heavily.

I can recommend The Share Co (Share.com). They have been around for a long time and have a good reputation. Their charges are low and they also give FOC advice which is unusually. I only have about £1k with them.

G_M

Jake'sGran wrote: »

I can recommend The Share Co (Share.com). They have been around for a long time and have a good reputation. Their charges are low and they also give FOC advice which is unusually. I only have about £1k with them.

Share Centre : UK Trades: 1% (£7.50 min) + £2.50 per quarter.

Geoffo_M

G_M wrote: »

Share Centre : UK Trades: 1% (£7.50 min) + £2.50 per quarter.

This suits me down to the ground, as I only buy in small quantities. I have already transferred my HB account to them. What I would say is that if you deal in larger amounts say £1,500+ where you are looking at fees of £15+ (being 1%), it would be worth considering their 'Trader Option' whereby you pay £20 a quarter and the fees are then pegged at £7-50.

G_M

For those thinking of switching from ShareCrazy following the announcement of changes to their provider (and introduction of annual fee next year) I have received the following email:

"
Apologies for the delayed reply, we have been flooded with emails as you would expect!

There will be no transfer fee incurred on this particular transfer if you inform us by the end of the week.
thanks
Monisha Varadan
Director
Tel: +44 20 7562 3389
Fax: +44 20 7562 3368
Mobile: +44 78 1784 5882
Website: www.rs-cf.com"

savadude

G_M wrote: »

A quick trawl shows:
iii 10.00 per deal + 0 fee (also operates Fool)
Fool 10.00 + 0 (some admin fees higher than iii eg transfer out)
Halifax 11.95 + 0
Share Centre 1% (7.50 min) + 2.50 pq
Self Trade 12.50 + 35 pa
Fidelity 9.00 + 5 pm
Share Crazy 9.99 + 5 pa (free for 1 more year if existing customner)

Can not comment on quality.

Interested in any others.....

To add to the others:
Hargreaves Lansdown >£499.99 = £9.95 £500-£1,999.99 = £14.95 £0 fee pa

uk_steve

just got my holdings from hb to my selftrade account today


bye bye HB