Hoodless Brennan to close online share dealing

[blondebier]

It looks like Hoodless Brennan are ending their execution-only online trading service on 10th July. I moved from Halifax Share Dealing about a year ago as they were utter rubbish and paid through the nose to move my shares to HB.

As HB were one of the cheapest on the market, that's a bit of a bummer.

They have an arrangement with TD Waterhouse "to seamlessly" transfer your account/portfolio to them, maintaining Hoodless Brennan's (lowish) rates for at least a year.
This probably means that you may be held hostage by whatever fees they decide to impose after a year 1.

HB also give the option to transfer to another provider with no transfer charges.

I have read mixed things about TD Waterhouse and their "normal" fees look a bit steep.

I have had a look at ShareCrazy, but it turns out their trades were executed by HB!

Does anyone have good/bad experiences with TD that they would care to share to help me to decide what to do?

 

[wemorgan]

I've been using: Hargreaves Lansdown | Best ISA & SIPP | Buy funds and shares for the past 2 years.

I'm not especially active with regards to individual shares, but do buy funds for my SIPP.

H-L do seem to have a lot of information online which helps with my decisions.

Also their discounts of certain funds are attractive.

I'd also be interested to hear of other people's views of TD.

HTH

Edit: H-L share dealing charges: http://www.h-l.co.uk/our-services/Share-dealing-charges-and-interest-rates

 

[blondebier]

Thanks wemorgan.

I've had a look on MoneySupermarket and they have an account called "Active Trader Share Account" which charges £9.95 per trade, but charges £12.95 per quarter admin charge.

I think anything under £10 is ok to trade, but I don't really want to pay an admin charge if I don't have to.

Jarvis Investment Management plc have an account called "Share Deal Active" which charges £9.50 per trade with no admin fee. I've never heard of them though...

 

[Shude]

I have read mixed things about TD Waterhouse and their "normal" fees look a bit steep.

I had a job interview with TD Waterhouse last year and was declined the job because I was "too aggressive"!

Too aggressive? I'll show them too effing aggress... d'OH!

 

[blondebier]

What did you think of them? Would you trust them with your money?

 

[Shude]

What did you think of them? Would you trust them with your money?

As middlemen they only really have your money for a short time but the company seemed competent and efficiently run. I'd have happily worked for them as the location was great and the package was pretty competitive.

 

[Koolvin]

I use TDWaterhouse and have been for a few months - I haven't had any issues with them. I can say that their online web portal does feel clunky at times and I have had issues getting through to them when they had issues with the portal - I can only assume that they were inundated with calls.

 

[blondebier]

Thanks - that's exactly what I wanted to know.

Halifax was the same. The times I missed the boat because I wanted to trade in real-time and couldn't were so frustrating! HB were excellent - I'm so gutted I have to move again!

Just looking at Jarvis Investment Management's web site put me off... I think there is a hole in the market here that needs plugging!

 

[Carrotchomper]

I'm with Barclays because it was the easiest to set up. However for a low-volume trader (Under 25/month) it's pricey at £13 a trade. Not always the best at busy times either. Definite hole in the market. Just gutted now that I never got around to completing my HB registration.

 

[blondebier]

Has anyone used Interactive Investor? http://www.iii.co.uk

They look pretty good :

Dealing Charges

UK Stocks - £1.50 using Portfolio Builder
UK Stocks - £10 flat fee per deal
European Stocks - £15 flat fee per deal
US Stocks - £15 flat fee per deal
(Irrespective of the size of the deal and including all overseas charges)

TradePlan Orders £2 when you place the order
Orders Executed from a TradePlan will have reduced Dealing charge of £8.

ISA Account Fee £0 - No account fee payable.

Transfers In Free
Transfers Out £10 per stock
Interest Payable Interest will not be paid on cash held in your trading account.
Corporate Action Administration Free
Dividend Reinvestment Charge 1% of the value of the dividend paid (capped at £10)

Any views?

 

[crockers]

I use Barclays - running BARX level 2.... find it pretty good.

 

[Alps]

thanks for that, i`ll let the missus know as she has her trading account with them