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Disaster at Barclays Stockbrokers?
Mr Helpful
Posted: 28 August 2017 09:54:59(UTC)
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Today is the first day of the new 'SmartInvestor' website.

Presumably the name change is preparation for Barclays to sell the business?

Have had a look around the new website and am dismayed.
The 'bright young things', with high enthusiasm and presumably limited experience of what the average frequent trading investor needs, have been let loose.

The old website was IMHO one of the finest around for price research esp comparisons, trawling for info, etc. Trading was also a delight.

How are other investors finding the new website?
What are suggested alternatives, esp for QUICKLY seeking out comparative price histories?

P.S. There is, perhaps should mention, good info added, but the original simplicity and flexibility will be sadly missed.
14 users thanked Mr Helpful for this post.
Alan Anderson on 01/09/2017(UTC), Georgina on 01/09/2017(UTC), Guest on 01/09/2017(UTC), Alan P R on 02/09/2017(UTC), Alex Jones on 02/09/2017(UTC), Stephen Lloyd on 03/09/2017(UTC), charles goody on 03/09/2017(UTC), Concerned Company Pension scheme pensioner on 03/09/2017(UTC), Guest on 05/09/2017(UTC), Nigel Bell on 15/09/2017(UTC), Paul Hutchings on 03/10/2017(UTC), Luca Brasi on 09/10/2017(UTC), Stuart Jarvis on 10/10/2017(UTC), Tim D on 15/11/2017(UTC)
Alan Selwood
Posted: 28 August 2017 11:03:24(UTC)
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That sounds just like what Selftrade did before suddenly announcing that they were selling out to Equiniti.
Jay Mi
Posted: 28 August 2017 16:43:52(UTC)
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I've pretty much decided i'm changing providers.
The reason I chose Barclays stockbrokers last September, was because of the ease of using the website and the search function of funds.

They've taken many of the previous functions I'd use away.

Looking at shares, I can't find RNS, news, etc, Trade data/volume its now not shown as far as I can see.
I couldn't find other analysis stuff they had (i never used these, but i'm sure some people do want the 'stochastics/bolinger bands) - I have no idea what they are, but I have not found these features yet.

Broker forecasts on shares, it gives a summary of what the general consensus is, but it does not show who gave each recommendation on what date and whether it was an upgrade/downgrade or reiteration. Price target is also not shown for these.

I don't know if it shows discount/premiums on NAV for Investment trusts, the website just went down.

Previously you could oven top a fund onto a chart and stretch back to the max length of time and compare to other funds or to other indexes. Now you're limited to 5 years and to five indexes the FTSE world, 100, 250, 350 and something else, maybe a few others.

Funds are only shown a five year performance on a search. I found it useful to see 1, 3 and five years all on the one search page. Cannot search by dividend yield anymore or other feathers that I didn't use but they're not not an option in the search field.

Fund charts - I cannot find how to view without income reinvested, - I found this useful on looking at bond funds to get an idea of capital growth (or lack of) and seeing volatility and how much difference the yield would make when reinvested. Same on more dividend based funds.

Fund investing is now £3 a transaction. This adds up as I use funds to invest weekly, and not be hit with a dealing dee, with the plan of investing a lump sum/rebalancing when I transfer to an isa next April. The yearly fee is now cheaper at 0.2% I think, but with regular investing, it will be 5-£600 a year. This is more expensive than what I was paying. Regular dealing fee is cheaper.

I now have to decide on what platform to use.
Charles Stanley direct and HL I use for my parents, but neither of those were better than Barclays Stockbrokers for me. HL I do like some features.

There are a few features I like on smart investor, such as the %change and performance analysis. But this is not up to HL standard of the same thing. My one year change is now 8% higher than I thought it was on my excel spreadsheet. But I knew I made some error.



Disaster Yes!
Change of platforms yes!
Unhappy customer yes!
Their twitter helpdesk seems others are not happy.

It seems confusing for a "new"/unexperienced investor, aimed at a less experienced person, and a downgrade for /someone who has a better idea of what they're doing. It seems similar to Santanders investment hub, which I don't like. - Same yearly fee as Santander also - 0.2%
13 users thanked Jay Mi for this post.
Tim D on 28/08/2017(UTC), Mr Helpful on 28/08/2017(UTC), Guest on 30/08/2017(UTC), Martin J on 01/09/2017(UTC), Georgina on 01/09/2017(UTC), Guest on 01/09/2017(UTC), W.h.westlake on 01/09/2017(UTC), Alan P R on 02/09/2017(UTC), John Grant on 02/09/2017(UTC), Stephen Lloyd on 03/09/2017(UTC), charles goody on 03/09/2017(UTC), PVT on 03/09/2017(UTC), Nigel Bell on 15/09/2017(UTC)
Tim D
Posted: 28 August 2017 16:57:24(UTC)
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Jay Mi;50365 wrote:
The yearly fee is now cheaper at 0.02% I think.


A quick google suggests that was a typo for 0.2%?
2 users thanked Tim D for this post.
Jay Mi on 28/08/2017(UTC), Captain Chaos on 01/09/2017(UTC)
Jay Mi
Posted: 28 August 2017 17:00:02(UTC)
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Tim D;50367 wrote:
Jay Mi;50365 wrote:
The yearly fee is now cheaper at 0.02% I think.


A quick google suggests that was a typo for 0.2%?


Possibly. I'll go edit that. Don't know why I was thinking it was 0.02 instead of 0.2.
Jay Mi
Posted: 28 August 2017 18:59:54(UTC)
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Update.

Mr helpful, try Barclays Research Centre. - it can be accused via the smart investor page.

This has some of the previous features I couldn't find - for the shares. I'm yet to look at funds on this. It is showing 'Fund charting' is showing as 'Coming soon'. But it wasn't easy to find - if you was new to the smart investor site and new/inexperienced at investing, someone could start buying shares without doing the research they could/should have done.

May be this will have the charting features i was after. Really this should have been available on changeover.



I'll still have to make an account elsewhere for regular investment without the dealing fee.
1 user thanked Jay Mi for this post.
Mr Helpful on 29/08/2017(UTC)
John H
Posted: 29 August 2017 13:09:29(UTC)
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Joined: 29/12/2008(UTC)
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From my recent experience it certainly is a disaster. Barclays International Trader is closed and unless investors said otherwise their shareholdings have been transferred to an outfit called Saxo. I've never heard of them so I asked for my portfolio to be transferred to another well known finance house that I use. I've been chasing action for over a month and today, after many phone calls waiting in long queues and several letters, I'm told that it will take another 6 to 8 weeks. What a shambles.

I've used International Trader for some years and found it excellent. I can't understand why they are closing it, maybe it's not making enough money. They had some good staff there so my sympathies go out to those losing their jobs.
Martin J
Posted: 29 August 2017 13:35:41(UTC)
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Greatest problem with the dumbed-down operation following a presumably hostile takeover by the retail banking arm of Barclays is that I can't see the daily price change across my portfolio. This is essential.

I'm asking Barclays to introduce the option of using their 'classic' interface, rather as one can choose to roll back Windows interfaces to those from earlier versions.

It can't be difficult as they have that platform interface already, and I think it would solve a lot of problems for serious users.
3 users thanked Martin J for this post.
Keith Hilton on 29/08/2017(UTC), charles goody on 03/09/2017(UTC), Paul Hutchings on 03/10/2017(UTC)
Drogue
Posted: 29 August 2017 15:10:39(UTC)
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Not at all happy about the new level of charges, no wonder Barclays said that they were excited about the new website, so would I be with a mass of subscribers and the hefty increase in fees.

Looked at the site and some very good points but all history of shares has gone, it is not easy to find way around, a number of the good user functions have gone and I feel it is a con. It is not all singing and dancing for more experienced investors.

Tried to do a "live chat" about the situation, but surprise surprise, all their advisors and unexpectedly busy, try later. Is everyone looking to move accounts? HL must be rubbing their hands in glee.
2 users thanked Drogue for this post.
charles goody on 03/09/2017(UTC), Guest on 04/09/2017(UTC)
Milo Don
Posted: 29 August 2017 15:59:20(UTC)
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I was so unimpressed with Barclays' attitude when I raised objections about the proposed new charges and changes to the Stockbrokers website that I moved to another provider as soon as I was no longer obliged to pay Barclays a fee for moving. The new provider even offered me a cash incentive to move. So far it has taken about 6 weeks and it is due to complete this week. Painfully slow.

I think Barclays (Bank) are aiming at those with 4 or 5 figure sums who are likely to invest in open ended funds rather than the more traditional Barclays Stockbroker client.
1 user thanked Milo Don for this post.
Martin J on 01/09/2017(UTC)
Jay Mi
Posted: 29 August 2017 16:59:02(UTC)
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Drogue;50409 wrote:
Not at all happy about the new level of charges, no wonder Barclays said that they were excited about the new website, so would I be with a mass of subscribers and the hefty increase in fees.

Looked at the site and some very good points but all history of shares has gone, it is not easy to find way around, a number of the good user functions have gone and I feel it is a con. It is not all singing and dancing for more experienced investors.

Tried to do a "live chat" about the situation, but surprise surprise, all their advisors and unexpectedly busy, try later. Is everyone looking to move accounts? HL must be rubbing their hands in glee.


Do not press the back button on your browser. You end up having to log back in.

History of purchases, it's showing dividend reinvestment investments as buys. Instead of what it is - a div reinvestment. It's confusing me.
Click on one of my holdings, and it shows the average book price, but no indication of each purchases, date, dividends.

It's like they've tried to do a bad copy of HL. They're added some good points, but the negatives and clunky interface outweigh the few good points.

The yearly fee is cheaper for me, but add on almost £200 in dealing fees for weekly investment into a fund(s) and any rebalancing on these. - It is more expensive for me now.


1 user thanked Jay Mi for this post.
Mr Helpful on 30/08/2017(UTC)
Mr Helpful
Posted: 30 August 2017 08:10:20(UTC)
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Jay Mi;50413 wrote:

Do not press the back button on your browser. You end up having to log back in.


Yes this feature is driving me distracted.

Anyone managed to find Contract Notes yet?
Supposedly on Barclays Cloud; but nothing there.
Returning from 'Cloud' by whatever means; logged out yet again!

Also only way to find achieved transaction price, found thus far, is to look at cash balance change,
and then divide by number of shares dealt.
No doubt will become clearer in due course. Sigh.
1 user thanked Mr Helpful for this post.
Guest on 02/09/2017(UTC)
A Thorne
Posted: 30 August 2017 11:30:45(UTC)
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Joined: 30/08/2017(UTC)
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Keep getting '1176 - Sorry, we can't log you into Online Banking at the moment' and cannot access account. Phone helpline doesn't answer after 55 minutes. Anyone else?
Mario B
Posted: 30 August 2017 12:20:27(UTC)
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Interested to read all this. As a relative novice with a modest potfolio i am really struggling.
The worst aspect for me is, after going through twicw as many steps to access, that i cant see the daily change on each share, so while i can see if the overall value has changed, i have no feel for individual shares and there is a huge amount of work to then check each shares position.
I was looking for recomendations for another provider. I have a portfolio a little imto 6 figures with about 20 holdings.
I'd welcome suggestions.

1 user thanked Mario B for this post.
Martin J on 31/08/2017(UTC)
Windlesham Don
Posted: 30 August 2017 13:25:05(UTC)
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At least you guys have managed to log in to the site. Despite several letters reminding me what they were going to do, Barclays then failed to send me any correspondence with a Membership number and Passcode.

I have now spent 30 minutes on both of the last two days waiting to try and get through to speak to them without success.

I tried a Webchat with them and the response was so laughable that I gave up!
2 users thanked Windlesham Don for this post.
CCT. on 30/08/2017(UTC), Martin J on 31/08/2017(UTC)
Michael Greenland
Posted: 30 August 2017 15:32:01(UTC)
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Joined: 23/08/2015(UTC)
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I decied to move my ISA and my wife's the moment they announced the change as the default fee went up from £30 to £200 per year. Not acceptable. So 600k has moved out from me....
Alan Anderson
Posted: 30 August 2017 15:34:16(UTC)
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I found Barc Stockbrokers site failed to get up to speed with the internet age. No live prices; paperwork through the post; no foreign shares; quarterly charges if you failed to trade; etc.
Was delighted to take advantage of the free transfer out - which was completed very speedily.
Law Man
Posted: 30 August 2017 15:43:49(UTC)
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Reading previous comments, I am pleased to be with HL. Yes, the annual charge for OEIC funds is high, but HL does not have all these miscellaneous charges.

Another example of a recently ruined web site - Investors' Chronicle.
Crispian
Posted: 30 August 2017 15:49:15(UTC)
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Any semi professional investor using the new smart investor site is in for disappointment. The research centre is provided as previously by Digital Look. Except it is no longer possible to go straight from a portfolio held stock. Download to excel seems to have vanished. The data sort on the portfolio has disappeared, as has the print function. The chat function is out of service, the telephone help line reports a 40 minute backlog. All of this shows the dangers of trying to combine everyday banking and stockbroking.
3 users thanked Crispian for this post.
Lilly on 30/08/2017(UTC), Martin J on 31/08/2017(UTC), Guest on 01/09/2017(UTC)
Ant man bee
Posted: 30 August 2017 16:02:39(UTC)
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Its a mess - if you don't have a bank account with Barclays you are a non person and you can't access your stockbroking account. Are Barclays going to be responsible for trades that can't be executed?
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