Stockbrokers for Investment Clubs

PipneyJane

Hi Everyone.

Can anyone recommend a website that compares stockbrokers and their fees for investment clubs?  For the last 17 years, my husband and I have participated in an Investment Club. The club has changed over the years and now we're only reinvesting the dividends, not contributing fresh money to invest.  Our current stockbroker has just been taken over and the fees have gone from £2.50-ish a month to £10, which is unsustainable for us. 

This is the fourth time our stockbrokers have been taken over, but only the first massive price hike.  When the club started, I remember going onto a comparison site that listed things like monthly charges, etc, and whether they supported investment clubs.  (That's is how we found our original stockbrokers.)   A quick Google has just left me confused.

Many thanks for your help,

- Pip 

george4064

HL allow for investment clubs, you can also see the charges here; https://www.hl.co.uk/investment-services/fund-and-share-account

DireEmblem

HL stopped supporting investment clubs this year.

PipneyJane

Thanks @george4064 and @DireEmblem for your feedback.  We’ll have to see what the other club members did up.

I guess investment clubs are no longer the flavour of the month.

- Pip

DireEmblem

You could try using a free trading platform, say trading212, and share a 'pie' - essentially sharing your own stock picks, and you could manage your own portfolio.  I think maybe that's the way things are going.

Thrugelmir

PipneyJane said:

I guess investment clubs are no longer the flavour of the month.

Never been easier and cheaper to invest on a global level.  Why add a layer of cost and administrative burden? 

AnotherJoe

No disrespect meant, but if £120 a year is "unsustainable" is it worth carrying on?

PipneyJane

AnotherJoe said:

No disrespect meant, but if £120 a year is "unsustainable" is it worth carrying on?

As I said, we’re no longer contributing, just reinvesting dividends.  We get about £1,000 of dividends a year.  Like most investors, our portfolio has taken a bit of a battering during 2020 so selling up now is not an option we want to consider.

- Pip

NottinghamKnight

PipneyJane said:

AnotherJoe said:

No disrespect meant, but if £120 a year is "unsustainable" is it worth carrying on?

As I said, we’re no longer contributing, just reinvesting dividends.  We get about £1,000 of dividends a year.  Like most investors, our portfolio has taken a bit of a battering during 2020 so selling up now is not an option we want to consider.

- Pip

Most investors are up in 2020 even with the Covid crash, the uk markets are still well down but US and others are above pre crash levels.

AnotherJoe

PipneyJane said:

AnotherJoe said:

No disrespect meant, but if £120 a year is "unsustainable" is it worth carrying on?

As I said, we’re no longer contributing, just reinvesting dividends.  We get about £1,000 of dividends a year.  Like most investors, our portfolio has taken a bit of a battering during 2020 so selling up now is not an option we want to consider.

- Pip

Really? I'm up. I suspect most are. Even my dull global equities funds are up even if oniy slightly. 

However if you are in dividend paying shares as a strategy maybe you need to address that. 

And after 17 years I'd have expected you'd have learned that waiting until shares you hold go up , simply because they have fallen, is not a strategy . 

Or at least, not a  good one.
Out of interest want to post the share club portfolio ? This seems like a bigger problem than £10 a month  charge 

DireEmblem

I think what AnotherJoe is trying to say, is that when investing, there is nothing wrong with high income/dividend stocks, you can get some crackers, but you are better looking at the bigger picture, otherwise known as “total return”.

A lot of dividend stocks are still in negative territory this year, and it’s all fair and well saying in hindsight, but diversification across asset classes is normally key for long term returns.