Stockbrokers for Investment Clubs Sep’25

Driverxyz

That is very interesting.  I would like to hear about progress.  I was wondering about things like annual reports and tax treatment.  After googling tax, I came across this which might be relevant

Close Investment Holding Companies (CIHCs): These companies, which primarily exist for investment purposes, generally pay the main rate of 25% regardless of their profit levels.

At first glance it seems an attractive solution and would certainly be cheaper with AJBell. I wonder what the downsides might be?

 

Oldhead45

Were signed up with CFM - and it looks like all members of the club will have access to the portfolio.

Floxylady

ightWave said:

Hi Everyone,

Our account with ii is now closed and we are preparing to switch to CFM. However, we have lost several members just because CFM do not offer online dealing. They were concerned about the length of time it would take to place a sell trade if the markets were moving fast.  I'm assuming all the investment clubs here would prefer to be able to deal online so I'm wondering about us, as a group, trying to place gentle pressure on CFM to upgrade their platform. It would need to be done very politely as we don't want them also rejecting investment club accounts.

We have been with CFM for a couple of weeks now and whilst we do miss the ability to deal online we recently emailed a Dealing request to Buy/Sell 8 different Stocks which was dealt and completed within the hour.  The online portal was updated immediately to reflect the trades.  

Floxylady

Hi -  Someone raised the comment about asking CFM about setting up an on-line trading system for Investment Clubs now that CFM are accepting applicants. When I spoke to them some time ago and asked the question they did respond that this was something they were planning to do - and it was in the pipeline.  So a consolidated request from us would - I believe - go down well.

Sky_Dragon

We have opened a CFM account and are awaiting transfer of our holdings.

Their web page now says:
"Investment Club

*Please note that we are pausing new Investment Club applications for a short time. "

Hopefully this is just because they are a bit busy vetting all the applications, and not having second thoughts about attracting (and maintaining) this business line.

Oldhead45

We beat the rush and now waiting for our stock to be transferred - 6 weeks according to ii.

Sky_Dragon

Oldhead45 said:

We beat the rush and now waiting for our stock to be transferred - 6 weeks according to ii.

Yikes! - started our transfer 1 week ago and CFM previously stated about 2 weeks to transfer. Maybe we won't be doing any trades this side of Christmas.