Anyone using Barclays Stockbrokers self select equity ISA?

[Jon39]

Their technical admin is excellent.
Fees (a percentage, capped at max £30 per year, plus VAT) very good value.

They took over the UK business of Charles Schwab many years ago, and continued with the same fee structure.

Customers have recently received a deluge of paperwork, describing the transfer to a new wonderful Barclays scheme, but hidden underneath all this, appears to be a fee increase from £30 to several £hundreds each year, with no maximum. An enormous percentge increase, but very little is mentioned about that.

Whether a customer has a partucular holding of 1,000 shares, or 10,000 shares, the admin work is identical, so having a maximum fee in a pricing structure is fair to both parties.

What have any customers decided to do, about this enormous fee increase, and which ISA providers incorporate a cap in their fee structure?

[costsmonkey]

Yes, I also use Barclays Stockbrokers and have been doing so for a good number of years now.

I agree that they provide a good service and fees (to date) are modest.

I have also been bombarded with mail about them upgrading their service but have not read it yet. Looks like I better do so PDQ!

Thanks for the heads up. Any other Barclays Stockbrokers clients here?

[NickCQ]

I have a Barclays Stockbrokers Investment ISA, I've been paying around 0.35% p.a. (seemingly not capped at £30).
I only trade a few times a year when the ISA allowance refreshes in April and I only hold funds.

The calculator below implies that I'd be paying roughly the same or less, have I misunderstood?

https://www.smartinvestor.barclays.co.uk/important...

[CasioPasio]

I actually was thinking about telling my bank (Barclays) to open up an investment account for me, but I wasn't clear as to how much I should initially put up. I never got a clear response, so I always backed-off.

I am not an expert when it comes to financing so I may sound a little lost on this side of the forum

[Jon39]

NickCQ said:

I have a Barclays Stockbrokers Investment ISA, I've been paying around 0.35% p.a. (seemingly not capped at £30).
I only trade a few times a year when the ISA allowance refreshes in April and I only hold funds.

The calculator below implies that I'd be paying roughly the same or less, have I misunderstood?

https://www.smartinvestor.barclays.co.uk/important...

If you have been paying a fee to them of more than £36 annually incl. VAT ( paid half yearly ), they must have been operating a different fee structure for their fund customers. I only hold shares and the associated build up of dividend cash in that ISA.

0.35% +VAT could be a lot without any cap and for funds, there would be further hidden charges within the actual funds.

Edited by Jon39 on Wednesday 23 August 18:03

[Jon39]

CasioPasio said:

I actually was thinking about telling my bank (Barclays) to open up an investment account for me, but I wasn't clear as to how much I should initially put up. I never got a clear response, so I always backed-off.

I am not an expert when it comes to financing so I may sound a little lost on this side of the forum

My guess is that Barclays retail branches probably don't have any connection with Barclays Stockbrokers. Perhaps that is why you did not receive a clear response. Only a guess if course.

[CasioPasio]

Jon39 said:

My guess is that Barclays retail branches probably don't have any connection with Barclays Stockbrokers. Perhaps that is why you did not receive a clear response. Only a guess if course.

Yeah that's a good guess. They all say 'I need to find out about that one' which basically means I don't know what you're asking me.

When you mention stocks, it's like you're talking rocket science. Haha

[Jon39]

CasioPasio said:

When you mention stocks, it's like you're talking rocket science. Haha

Don't worry, it was all a fog to me once. There is far too much jargon, to make the concepts easily understandable.

However, much of the wealth of the world has been created by business and entrepreneurial activity. Therefore, owning small amounts (shares) of good businesses, can be very rewarding for investors, many of whom begin with a tiny amount of money. Time and compounding can be powerful.

I will admit though, that it does need some effort to learn how to do it sensibly.

Edited by Jon39 on Wednesday 23 August 23:57

[CasioPasio]

Jon39 said:

Don't worry, it was all a fog to me once. There is far too much jargon, to make the concepts easily understandable.

However, much of the wealth of the world has been created by business and entrepreneurial activity. Therefore, owning small amounts (shares) of good businesses, can be very rewarding for investors, many of whom begin with a tiny amount of money. Time and compounding can be powerful.

I will admit though, that it does need some effort to learn how to do it sensibly.

Edited by Jon39 on Wednesday 23 August 23:57

When you say a tiny amount, how tiny are we talking?

I think it would also pay good dividends if you were an early stage investor.

[Jon39]

CasioPasio said:

When you say a tiny amount, how tiny are we talking?

I think it would also pay good dividends if you were an early stage investor.

I think my very first holding was about £180.
It was an employer share bonus scheme.
Did not take much interest in it, but after a year, I noticed the value had increased by a huge amount (30%).
It was then that I realised, I needed to learn more about business and stock markets.

Done the correct way, the eventual rewards can be remarkable, but you do need patience, experience and the right mental approach. That famous comment to Rodney can be achieved, but you won't do it, "This time next year".


You might have omitted a word from your second sentence. I do not understand.

Edited by Jon39 on Friday 25th August 14:37

[CasioPasio]

Jon39 said:

I think my very first holding was about £180.
It was an employer share bonus scheme.
Did not take much interest in it, but after a year, I noticed the value had increased by a huge amount (30%).
It was then that I realised, I needed to learn more about business and stock markets.

Done the correct way, the eventual rewards can be remarkable, but you do need patience, experience and the right mental approach. That famous comment to Rodney can be achieved, but you won't do it, "This time next year".


You might have omitted a word from your second sentence. I do not understand.

Edited by Jon39 on Friday 25th August 14:37

I was thinking about what you said and found this: https://www.crowdcube.com/

It might just get me started. I guess in some ways it could also be beter than stocks as well.

[Jon39]

CasioPasio said:

I was thinking about what you said and found this: https://www.crowdcube.com/

It might just get me started. I guess in some ways it could also be better than stocks as well.

Ouch !
You would certainly gain experience, but possibly it might not be the type that you want.

I do big, boring, steady companies and invest very long-term. Finished with small company gambling a long time ago.
It is not a very exciting way for most people, until they hear about the 14% annual average achieved over 29 years.
There were quite a few stock market crashes and recessions, during that period too.

I cannot advise anyone about how to do this, but you could try listening to the master, Mr Warren Buffett.
Lots about him and his partner on the internet, and videos on YouTube.
Very knowledgeable, hugely successful, self made with a proven investment philosophy. A good teacher and humorous as well.