Stockbrokers for Investment Clubs Sep’25

AlanPJ

I’m a member of a longstanding Investment Club.
Our Broker, ii, has just given us 2 months notice that they are ceasing service for Investment Clubs. 

Can anyone suggest an alternative Broker please?

richie1309

I have the same problem. I'm the treasurer and have spoken to six different companies. I've also tried online with two others but NO is the collective answer

wmb194

AlanPJ said:

I’m a member of a longstanding Investment Club.
Our Broker, ii, has just given us 2 months notice that they are ceasing service for Investment Clubs. 

Can anyone suggest an alternative Broker please?

I've never heard of it before but someone in the thread linked below from 2020 suggested Pilling Stockbrokers. Its website doesn't fill me with confidence, though.

Another suggestion was for everyone in the club to open an account with Trading212 and then use its 'pie' functionality to mirror the club's portfolio in their own accounts.

https://forums.moneysavingexpert.com/discussion/6198937/stockbrokers-for-investment-clubs/p2

https://www.pilling.co.uk/

phlebas192

Pilling is very expensive - especially to a club used to Interactive Investor commission fees! 

1.65% on the first	£10,000
0.50% on the next	£90,000
0.40% on the excess over	£100,000

Redmayne Bentley (https://www.redmayne.co.uk/stockbroking) apparently also accepts investment clubs but their charges are the same as Pilling up to £20k a trade and only slightly less on larger ones.

Sadly, I think investment clubs have had their day in the UK. Ours started back in 1998 but it looks like we'll now be disbanding it as a formal club. We'll see if we can keep going as a virtual one via Trading212 or some other approach but it won't be the same.

hoff1214

We are in the same position, 2 months notice to end of service for Investment Club. We started January 2000.

DDocretd

Similar problem: 2 months notice of broker withdrawal and no idea where to go after 25+ successful years

Crzyk3n

Same position here. Anyone found any other options? iDealing - aside from appearing very limited in terms of service - have just confirmed back to me that they're not taking on any more clubs. Increasingly looking like we're reaching the end of the road??

iantowelsh

We’re in the same predicament.

CFM - Capital Financial Market could be an
option, this was their response to my request:

CFM Investment Club dealing & custody service

Hi Ian, Thank you for contacting us. .  CFM offer an Execution only dealing service for Investment Clubs.  You can trade in global shares that are listed on a recognised investment exchange and similarly virtually all investment funds so long as they are regulated.  You can place orders via telephone or email to our dealing desk. The charges are:  £7 per trade 0.16% annual custody fee (for a £100,000 portfolio that equates to £160 annual custody charge) We can accept limit orders from you.  Quarterly valuations are sent which include performance data and annual CGT & Income schedules.  We have an online portal, through which you can view the account. Any number of members can be added to this.  In order to set the account up we would need to know the name of the Investment Club and the bank account details, then the details below for each member. Also which member is authorised to place orders.  Each member can be given access to the online portal if they wish.  Quarterly reports are sent which include performance, a list of all transactions, receipts and an annual capital gains and dividend schedule.

Dorcots

Our club is also affected.

The government website that covers tax as an investment club has specific rules which must be followed; we are taxed individually. To me this not preclude using a personal trading account. The holder of that account would just tell HMRC that it is a club account.