Can I Change Brokers?

ElstonG

Help!  I'm absolutely p**sed off with Barclays Smart Investor!  Try as I might, I can't get them to fix what should be a straightforward issue: To allow me access to my Smart Investor account.  I've asked for, what must be, 6 new pass codes in as many months.  I input the new pass code, access my account OK then log out.  I try to access my account a couple of day later: No access!  I've lodged a complaint but I'm convinced no-one will do anything.  I tried downloading their Barclays app so that I could use their PINSentry thing.  Thing is, you have to have a current account so that the app can work.  Ridiculous!  So, I'm wondering, can I change my broker via some transfer device/method and if so, which broker do you guys recommend?  Please help - my sanity is slowly draining awa...too late!  It's gone!

tebbins

What type of account is this (GIA, ISA, SIPP)?
What do you want the new account for - long-term buy and forget investing, day trading, if you want a cheap and simple offering of investments Vanguard will do fine, if you want a more comprehensive offering and to be able to buy individual stocks and bonds, you'll need to look at other providers.

ElstonG

Hey Tebbins, My account right now is for buying stocks long term and enjoy dividends (investment account?) - I'd like a similar account with my new broker.  I'd like to retain some control i.e. sell shares to raise cash or buy additional stocks should I come into a bit of money.  Thanks meanwhile. 👍

Albermarle

Best trading platforms and stock brokers - Monevator

wmb194

If you're otherwise happy with Smart Investor why not just open a Barclays current account and gain access to it that way? Transfers can be a take forever and become a massive hassle. For instance my own very long running transfer from Barclays Smart Investor to iWeb...

maxsteam

ElstonG said:

So, I'm wondering, can I change my broker via some transfer device/method and if so, which broker do you guys recommend? 

Yes, you can transfer the portfolio to another broker. The transfer process can be problematic if you are using an inefficient broker. It's worth checking that the new broker offers all the products in your existing portfolio as issues can arise in this area. Similarly, it can create problems if you trade after giving the transfer instructions. If you get bogged down in the process, you have the option to cancel the transfer, sell up, withdraw the cash and rebuild a portfolio elsewhere.

It's worth investigating x-o (Jarvis), YouInvest (AJBell) and Degiro.

tebbins

ElstonG said:

Hey Tebbins, My account right now is for buying stocks long term and enjoy dividends (investment account?) - I'd like a similar account with my new broker.  I'd like to retain some control i.e. sell shares to raise cash or buy additional stocks should I come into a bit of money.  Thanks meanwhile. 👍

I'm not aware of a single platform that doesn't do that. As above I think you should investigate different brokers/platforms yourself. Personally I use Vanguard and iWeb, only the latter could be considered a broker.

ElstonG

Well, since my complaint I've had a nice guy named Ross call me to try to fix things.  We're both agreed: With the ever increasing security issues these days, my having to clear both cookies and caches on my web browser each time I need to access my account will have to be the way forward.  I've checked the option not to let my browser store any information from Barclays so, theoretically, when I do log on to their site it should like a first visit.  I'll let you know how I get on.  Meanwhile, thank you all so much for your input - this site really is the business!