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Trustnet launch new DIY investment platform
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They were all told to get their act together and come up with a system to allow rapid paperless re-registration.
Progress hasn't been what you might call fast.I am not a financial adviser and neither do I play one on television. I might occasionally give bad advice but at least it's free.
Like all religions, the Faith of the Invisible Pink Unicorns is based upon both logic and faith. We have faith that they are pink; we logically know that they are invisible because we can't see them.0 -
gadgetmind wrote: »They were all told to get their act together and come up with a system to allow rapid paperless re-registration.
Progress hasn't been what you might call fast.
Over 2 months in and my re-registration from Youinvest to ATS hasn't fully completed. At least the investments moved over after 2 months but still waiting for the cash amount (what's left of it
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This is despite Youinvest charging me £140 plus £9.95 selling costs. Youinvest have taken a further £12.50 platform fee to reward themselves for not processing the re-registration in a timely and efficient manner. Youinvest have been requesting information from ATS that ATS had already provided them with a month earlier so ATS tell me.
When I re-registered funds to Youinvest they tried to take a custody charge while they didn't even have custody of my funds during the months it took for those funds to move over. I did persuade Youinvest that for a custody fee to be charged they probably had to have custody, and they reluctantly backed down.I came, I saw, I melted0 -
Hmmm, I must get my BestInvest transfer forms filled out this weekend!I am not a financial adviser and neither do I play one on television. I might occasionally give bad advice but at least it's free.
Like all religions, the Faith of the Invisible Pink Unicorns is based upon both logic and faith. We have faith that they are pink; we logically know that they are invisible because we can't see them.0 -
They originally said: "We are hoping to be open for business towards the end of January" so possible they're doing some rethinking.
As it stands, 0.25% but with £10 dealing fees on top isn't going to do it for smaller investors and bigger pots will need to be well over the £80k threshold to offset the effect of dealing costs. Some may see value in extra Trustnet research but it would be of most interest to frequent traders who won't like the trading fees.
The £15 a stock exit penalty is mid-range but would agree is still way too high. I can see a lot of outfits revising their pricing over the coming months which encourages me towards those with low or no exit penalties even if their overall package isn't currently the cheapest.0 -
Has there been any news on Trustnet Direct launching ? - Their holding page on the website is no longer working...0
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On the 14th feb they said "We are in the final testing phase and training staff furiously at present and hope to be able to go public in the next few days."
It looks like they are going to be using a version of the interactive investor platform.
"We have repurposed the Interactive Investor trading platform."
http://www.trustnet.com/News/478127/fe-launches-new-low-cost-platform-for-private-investors/ see the comments section below the article.0 -
Platform now open
https://www.trustnetdirect.com/
Charges are at
https://www.trustnetdirect.com/account-chargesI came, I saw, I melted0 -
Got a sinking feeling the trustnet website portfolio features are about to disappear behind a client only pay wall, which would be a pity.
They look very expensive for anything but hefty fund portfolios (discounting the first year)'We don't need to be smarter than the rest; we need to be more disciplined than the rest.' - WB0 -
Very cool website with a great interface. The design, layout and features available put many of the competitor sites to shame.
Look out HL, you might be losing your 'best user website' crown!Old dog but always delighted to learn new tricks!0 -
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