People power against Hoodless Brennan!

Bazn

hey everyone,

you may have seen this thread about hoodless brennan's new charges...

http://forums.moneysavingexpert.com/showthread.html?t=480721

Now as a long term buy-and-hold investor who only trades a few times a year, i think the proposed "maintenance charge" is VERY unfair.

I have expressed my complaint, but if you agree with me then please email info@hoodlessbrennan.com to complain! maybe if enough people complain, they'l listen or at least allow free transfer to another broker....

strange

I'm doing exactly that! £20 a year for doing absolutely nothing! It's a disgrace!

Strange

PS: Anyone know a way to hold your shares without paying for the privelidge?

dunstonh

It seems quite calculated to me. Get lots of people in initially on low charges. Then introduce a small charge/alter dealing charges. It you lose 15% of people then its no problem as you werent earning much from them but you gain on the other 85% that stay.

You cannot blame them for introducing a maintenance charge as someone has to pay for the equipment and staff and who better than those that use the service.

gt94sss2

strange wrote: »

PS: Anyone know a way to hold your shares without paying for the privelidge?

Change broker - there are others who do not charge an inactivity fee for standard dealing accounts (though they may charge slightly more per trade instead)

Options include:

1. HSBC InvestDirect

2. Selftrade (who also have a referral scheme)

3. Alliance Trust

Regards
Sunil