Barclays Stockbrokers

[Breelander]

Barclays are to migrate their existing Barclays Stockbroker customers to a new 'Direct investing' platform starting in 2017. This has a new fee structure with a percentage charge on ALL holdings, not just Funds as it was previously. And they try to tell us...

Most Barclays Stockbrokers customers will pay roughly the same or less than they pay now...

https://www.barclaysstockbrokers.co.uk/ ... sting.aspx

Well, not for me! Apparently, even at the special 3-year 'discount' for existing customers...

My fees are going to nearly double...

viewtopic.php?f=26&t=1144#p10389 (link to “Brokers and Share Dealing” board)

[GN100]

Is there some subtle difference between Direct Investing and buying ordinary shares, prefs and bonds in my Barclays Market Master account? A quick scan of the linked document seems to apply this to me but then they title it Direct Investing. Is there a difference and, if so, what is it?

GN

[Breelander]

Is there some subtle difference between Direct Investing and buying ordinary shares, prefs and bonds in my Barclays Market Master account? ... Is there a difference and, if so, what is it?

Barclays Stockbrokers ltd always seemed to be operating one step outside the rest of the Barclays group. It was a stockbroker and nothing else. Now the BSL name is to die. The new* name 'Direct Investing' seems to be Barclays way of saying 'look at our wonderful integrated service that combines banking, savings, shares and funds into one seamless service'...

... a new online direct investing service to let its customers view their investments, savings and current accounts in one place through a single log-in.

http://www.bankingtech.com/658082/barcl ... g-service/

Expect some very heavy cross-selling of products!

* well, not that new. Charles Stanley Direct (nee FastTrade) and TD Direct Invest (nee Waterhouse) got there first.

[Deev8]

... they try to tell us...

Most Barclays Stockbrokers customers will pay roughly the same or less than they pay now...

If the new fee structure had been in place over the past 12 months, my costs would have doubled. And it's only double because the last 12 months were an untypically active period in that account. In a typical year it will be significantly more than double the current cost.

Dave

[MrBarclay]

It's just a price hike. I reckon my costs will double, even if I don't trade. I'm not sure whether Stockbrokers will now be part of Barclays Ltd, or even if that gives us more security, if one or other were to go bust.

Some brokers though cost a lot more.

cheers MrB