Jarvis X-O and KIDs

cloud_dog

I tried to make a IT investment in my childs JISA the other day and encountered the KID issue message (to telephone them, so they could manually do what they do). Needless to say I was a little unimpressed that they were still running this manual process, so I took fingers to keyboard and emailed them explaining my frustrations that they were still in this position regarding KIDs.

Anyway, received a reply this morning advising that they will be updating their system to resolve / streamline the KID process in approximately 6 weeks time. I wait with bated breath.

Thrugelmir

I'm sure that they are are unhappy as you are. Considering the value given by this procedural change. In relation to the cost of system enhancement. How many people actually read the documents fully. One suspect very few.

My longer term concern is how this cost will be recovered from customers. After all it is us that picks up the tab.

cloud_dog

Good point but, as other platforms have demonstrated, it doesn't have to be overly onerous on the platform. It all depends what the platform decide is acceptable from a governance perspective.

Shedman

It's about time. It's been especially frustrating that you have to go through the phone them up malarkey even when just buying some more of an existing investment!

Glen_Clark

Thrugelmir wrote: »

How many people actually read the documents fully. .

Judging by the number starting threads on here to ask questions that are answered in the terms and conditions - very few

Glen_Clark

I agree with the summary in the best buy section of this website
https://www.moneysavingexpert.com/savings/cheap-online-sharedealing/?_ga=2.14774326.1017526747.1498207934-1345294851.1496851258
X-O 'Best if you know what you're doing'
HL 'Best if you need hand holding'
(but you pay for that)

xiox

You can email them with your account number and a list of investments, confirming you have read the KIDs. I did this for the ITs I hold and am considering buying.

Thrugelmir

cloud_dog wrote: »

Good point but, as other platforms have demonstrated, it doesn't have to be overly onerous on the platform. It all depends what the platform decide is acceptable from a governance perspective.

Jarvis put the cost of implementation at some £500k. For a small broker not inconconsiderable sum of money,

cloud_dog

Thrugelmir wrote: »

Jarvis put the cost of implementation at some £500k. For a small broker not inconconsiderable sum of money,

Ok, but to what degree are they accommodating the requirement? It will be interesting to find out what they do (for this £500k).