Stockbrokers for Investment Clubs Sep’25

Chipnall48

Has anybody considered setting their club up as a limited company?

Gunnista

We are in the same boat, club has been trading for 25 yrs and now less than 2 months to find new broker.....

I have been speaking with Interactive Brokers who appear to be able to host us but its unclear exacly what type of account to open....

Market_Fluctuations

Our club has been in contact with AJ Bell. Whilst stating that they do not currently offer Investment Club accounts, they also said that they’ve received a lot of enquiries from ii customers desperately looking for a broker. Their Products team is now reviewing the size of the market and also their ability to get their systems set up before the ii deadline of 27th October if they do decide to offer the account. As a club, we’ve decided that we’d be willing to pay the ii £50 per month Admin fee penalty if it bought AJ Bell more time to get the system set up.
if you want a broker for your club, I suggest you e-mail AJ Bell as soon as possible to help them understand that there really is a demand for Investment Club accounts.

cactusworldnews

Market_Fluctuations

Thanks for your update. 

Will also get our club to email them, to add to that demand.

Gunnista

I have made a plea to Interactive Investor to extend the deadline to year end such that AJ Bell can give full consideration to, and hopefully set up the platform to host our Clubs.

iantowelsh

@Market_Fluctuations, thanks for the update, we’ll also email AJ Bell.

@Gunnista - that would make perfect sense to extend the deadline to eoy.

Hope we get a positive outcome 😃

mushroominvestor

Just had the following from iDealing:

Dear Sir,

We appreciate your interest in iDealing.

Due to the current AML and regulatory requirements, we are not currently accepting new Investment Club Applications.

Kind regards,

The Admin Team

Dorcots

There used to be a trade association for Investment Clubs. ProShare was funded by the London Stock Exchange and a consortium of major companies (mainly FTSE-100). It had the backing of  HM Treasury and DTI.  Circa 2007, ProShare split into two. The part that looks after employees still exists but the investment club part has long closed down. Full details are on the Mobius Investment Club website.
With an estimated 12,000 clubs in the UK (2008 estimate), a trade association is now needed!

Gunnista

I have been looking at opening an account for our club with www.interactivebrokers.co.uk.  I have spoken to their helpdesk which is hosted in the US and it is unclear exactly what type of account to select. (None specifically for Investment Clubs). They have a good selection of trading tools and order type including Trailing Stoploss and you can open a Trail (Dummy) account to test the platform.  The online application process is quite daunting however with "Americanized" unfamiliar terms used for some of the sections that require completion.  I hope AJ Bell come through with an option for us.....

LIC2000

I have just been conversing with the AJ Bell Onboarding team having provided them with information on our investment club. They have been very responsive. The final correspondence said 

I have passed all the details over to our Product Team to review and we’ll come back to you in due course to confirm whether we’re able to offer a solution for you.

I appreciate the urgency of providing a definitive stance on this so I’m hoping to provide an answer within the next few days.

I suggest any other investment clubs who are interested contact them and let them know portfolio value, percentage in shares/funds/cash and number of members.

Keeping my fingers crossed