A weird phone call about shares

pafpcg

https://forums.moneysavingexpert.com/discussion/comment/82102805#Comment_82102805

"It's easy" - it may be easy for a holding in a single name but for holdings in joint names, low-cost brokers just aren't interested.

If anyone knows of a broker who'll open an account in joint names (and not charge high custody fees), please post!

wmb194

https://forums.moneysavingexpert.com/discussion/comment/82102874#Comment_82102874

Define high fees; AJ Bell I think is the same for joint accounts at 0.25% up to £250k. Too much? "Easy" related to the difficulty in lodging the shares. An option would be not to hold them jointly.

poseidon1

https://forums.moneysavingexpert.com/discussion/comment/82102757#Comment_82102757

Well done! Done yourself, wife and future executors a big favour.

pafpcg

https://forums.moneysavingexpert.com/discussion/comment/82102924#Comment_82102924

Thanks for the reply. Is AJBell a "low cost broker"? With LBG's ScottishWidows and now Barclays offering zero custody fees for sole accounts, it's frustrating that joint account holders have so limited choice - we're refugees from Jarvis which could only offer us Interactive Investors with substantial annual charges on our portfolio.

wmb194

https://forums.moneysavingexpert.com/discussion/comment/82103092#Comment_82103092

For joint accounts it might be: Barclays Direct Investing* isn't offering new joint accounts. As you're aware, you've restricted yourself quite a bit.

Edit: IG might be an option for joint accounts and the fees schedule doesn't appear to single out joint accounts so should be zero commission and zero account fees. Looks like you need to open individual accounts first and then complete some paperwork to make them a joint account. You can lodge share certificates but it's £100 +VAT per certificate…

https://www.ig.com/uk/help-and-support/articles/687036-does-ig-offer-joint-accounts

https://www.ig.com/uk/charges

*Formerly Smart Investor and Barclays Stockbrokers.