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Disaster at Barclays Stockbrokers?
huudi
Posted: 23 April 2018 11:58:13(UTC)

Joined: 11/06/2010(UTC)
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Tony Peterson;59628 wrote:
Jay Mi

Nobody seems to have said it, but I am sure we are all concerned about your missing transfer.

My hunch is that it may have something to do with those x-dividend dates,

But, keep us posted. Keep that calm. Neither party can afford further investor wrath.


Perhaps "investor wrath" is the only answer. This seems to be industry wide as shown by the latest Lloyds fiasco, they encourage you to go 'paperless' the lose your records online and this is BEFORE the rumoured attacks from Russia.
As for dividend dates, I transferred out of A.J. Bell having picked a time with no ex or payment dates due. It still took 6 months for a simple job. I am sure they expect? payments to go 'missing' and if there isn't one due then they wait till there is.
Stephen B.
Posted: 23 April 2018 12:20:04(UTC)

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I just got a reply to my question about a missing statement - it seems they somehow just forgot to send me one in January. You might think that issuing statements is a fairly basic piece of functionality ... I guess the next interesting question will be whether they manage to issue a tax voucher, and if so whether it's accurate ...
huudi
Posted: 23 April 2018 15:30:31(UTC)

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Tim D;61090 wrote:
huudi;61088 wrote:
I also opened an I-web account with the intention of moving from Barclays but when I tried to buy shares in Amedeo Air 4(AA4(LSE listed)) they could find no trace of them.


Have you tried contacting them and asking them to add it? I've done this a few times with ATS for ETFs they didn't have available and they've always been able to add them to the platform within a few days, or a few weeks at the most. FWIW, AA4 seems to be tradeable on both ATS and HL.


A good point and I will but if I see a price I like then I expect to deal then and not in a few days or weeks. We can all find LSE listed shares instantly so why not the Broker? he is the professional after all. I must assume he gets little profit from it.
W.h.westlake
Posted: 24 April 2018 20:34:58(UTC)

Joined: 01/09/2017(UTC)
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Has anyone lost any direct debit money in transfer into an isa with Barclays
I have so watch it.....something not right with the system somewhere.
Roger Hutton
Posted: 25 April 2018 14:52:56(UTC)

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I've just received a Consolidated Tax certificate for one account - it only includes dividends from 1/9/17 (and includes some interest on loan stock within dividends)

Is there any means of finding pre-changeover data from the old Barclays system?

On another account, I have a statement and valuation covering 17/1/18 to 16/4/18 so I'm missing Sept to Jan - no CTC yet either.

How are other people for documentation?
huudi
Posted: 25 April 2018 15:30:23(UTC)

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W.h.westlake;61197 wrote:
Has anyone lost any direct debit money in transfer into an isa with Barclays
I have so watch it.....something not right with the system somewhere.


I have a horrible feeling that we are being forced into switching Brokers constantly, it is an opportunity to 'misplace' cash, dividends or even shares go missing. If you notice then its a mistake, if not its gone. I have a ii account which has no record of my monthly DD or any other transaction since they combined with TD Waterhouse last year. I am awaiting their reply.
I confess to being lazy with D.I. and when I did regain access after nearly 6 months the statement was minimal. I might well be out of pocket, lazy old people are todays targets.
Mr Helpful
Posted: 30 April 2018 08:07:01(UTC)

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For those still hanging on with Barclays SmartInvestor; be aware of one occasional glitsch.
Sometimes a submitted trade (at quote and deal) will be displayed as not having been accepted within the time allowed, and suggests the investor edits and re-submits.
In fact the trade might have gone through.
So it pays to check the Cash Transactions first before resubmitting an order; or a double trade could be the result !!!
2 users thanked Mr Helpful for this post.
Alan O on 30/04/2018(UTC), huudi on 30/04/2018(UTC)
huudi
Posted: 02 May 2018 11:43:28(UTC)

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Anyone know what this means?

" from 1 July 2018, Smart Investor will be provided by Barclays Investment Solutions Limited (BISL) within Barclays' new ring-fenced bank, Barclays Bank UK PLC".?

They seem to lurch from one disaster to another. I intended transferring to I-web but their choice of stock is limited (you can look up & watch stock from their site but..), when it comes to buying its, "sorry, never heard of it".

If anyone has a good, cheap, reliable service then I welcome suggestions. I seems that any stockbroker 'improvements' are nothing more than reduction of service & useful staff with increased prices. Maybe they are this years investment, "the Booky always wins".
Tim D
Posted: 02 May 2018 12:07:34(UTC)

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huudi;61611 wrote:
If anyone has a good, cheap, reliable service then I welcome suggestions.


Happy ATS user here. Whether it's "cheap" depends on what percentage of your portfolio their "flat fee" will take. These days their website looks like something out of the stone age... but it does everything I need it to and it has worked flawlessly for me. Customer service by email or phone has always been good (and they have added missing ETFs when I have asked for them), although emails may take a couple of days to get a response they always have done, and with clearly personalized responses... not stock referrals to FAQ pages etc. Weak points are "research" (just morningstar access... and the portfolio ticker codes aren't even hyperlinks) and no niceties like even CSV downloads of portfolios or transactions (but I'm techy enough to write my own screen-scraping code).

One caveat: at some point they're expected to go through one of these hideous "replatforming" exercises. Fortunately they do seem to be holding off a mass roll-out after push-back from some advisers who were moved onto it as early adopters. I take it as a good sign that they haven't inflicted it on everyone yet... hopefully it'll actually be fit for use when they do.

Hopefully TSB's current meltdown is a cautionary tale for the rest of the financial services industry about not rolling out half-arsed bodge jobs. (Popcorn time this afternoon).
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huudi on 02/05/2018(UTC)
Stephen B.
Posted: 02 May 2018 12:12:10(UTC)

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huudi;61611 wrote:
Anyone know what this means?

" from 1 July 2018, Smart Investor will be provided by Barclays Investment Solutions Limited (BISL) within Barclays' new ring-fenced bank, Barclays Bank UK PLC".?


The regulators are forcing all banks to split retail and commercial banking into separate companies, so that if the commercial part goes bust it doesn't affect the retail side (and the government won't have to bail it out). Barclays Bank UK is presumably the name of the retail bank, and the investment services will be part of that. It shouldn't make much practical difference because in all brokers investments are held by a separate nominee company and can't be taken to settle debts of the parent company.
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huudi on 02/05/2018(UTC)
huudi
Posted: 02 May 2018 13:33:46(UTC)

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[quote=

One caveat: at some point they're expected to go through one of these hideous "replatforming" exercises. Fortunately they do seem to be holding off a mass roll-out after push-back from some advisers who were moved onto it as early adopters. I take it as a good sign that they haven't inflicted it on everyone yet... hopefully it'll actually be fit for use when they do..[/quote]

I've had bad experience of "replatforming"(that's a new word), if you get to use it could you keep us updated? Interactive investor had a simple spreadsheet system that worked quickly, I recommended that, but after combining with T.D Waterhouse its a mess(lost records/accounts + grotty website), to be avoided. Likewise Selftrade was a site to recommend but has had two transformations for the worse. I know we hate change but I'm a firm believer in "if it aint broke then don't fix it", this invariably brings disaster, "replatforming" is just somebody selling software. Look at the mess they made of 'Digital Look', its painful to look at and a bug constantly asks if I want to leave the page!
Like you a need a simple, easy to read dealer. Research I do elsewhere.

thanks
Malcolm Beaton
Posted: 03 May 2018 08:27:41(UTC)

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Hi
Another satisfied Alliance Trust Savings customer here -very aware of replatforming demands
The current site works great for me but I am not a wheeler dealer which may be where the pressure is coming from
No one in financial services can make the monies they think they deserve without the customers churning their funds and shares generating commissions and fees for the Platform.
More and more punters indexing and doing buy and hold-bad for business!
If customers are going to do this-simplify Platform etc etc-reduce costs.
I forwarded this Board to Alliance Trust Savings sometime ago as a salutary ongoing lesson of what can happen if you mess it up
Seems to have worked as they seem to be holding off at the moment
xxd09
2 users thanked Malcolm Beaton for this post.
huudi on 03/05/2018(UTC), Tim D on 03/05/2018(UTC)
JohnW
Posted: 03 May 2018 14:33:02(UTC)

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Another (reasonably) satisfied ATS user here. I like the way I can choose whether to reinvest each individual holding, as opposed to The Share Centre where every holding has to be treated the same. The only down side I've found is that it takes around 3 days for dividends to be reinvested, where The Share Centre manages the reinvesting of dividends the same day.

John
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Tim D on 03/05/2018(UTC)
Windlesham Don
Posted: 08 May 2018 19:17:49(UTC)

Joined: 22/08/2017(UTC)
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A new low for the amateurs also known as Barclays SMART(!) Investor. I have just sent this in a message to them. Please check that your broker has not done the same...

"I hold European Assets Trust (EAT) in my self select ISA and I have dividends re-invested.

EAT paid a dividend over a week ago, but the extra shares were only credited my account in the last day or so. Sadly, despite taking a significant time to credit the new shares, the number you have credited is incorrect.

EAT have recently performed a 10 for 1 consolidation of shares, taking my holding from 1553 to 15530. The dividend should have amounted to approximately 26 shares before the consolidation or 260 after it.

Looking at my account today I see that 26 shares have been credited, making my holding 15556. This is obviously wrong, as around 260 shares should have been credited.

Please correct this error at your soonest convenience and explain how this error occurred so that you can make sure that it does not happen again.

Regards,"
1 user thanked Windlesham Don for this post.
Alan O on 26/05/2018(UTC)
Philip Davie
Posted: 15 May 2018 13:57:32(UTC)

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Philip Davie;57643 wrote:
Philip Davie;56160 wrote:
Progress on transfer - so I started a transfer of my ISA on 23rd Nov (2017) and the stock arrived at Interactive Investor on 25th Jan 2018 so that is a touch over 2 months. Cash still waiting to come over, Barclays say that will take 2 to 4 weeks.

I think I have come out of this well compared to other posters!


So the majority of the cash was taken out of BSI account today and guess it will arrive at Interactive Investor at some point soon. There is a deduction of 90p for some fees or other which I cannot be bothered to argue about. Then a dividend arrived today as well so there is more cash to transfer over.

Getting there. Been out of the market for quite a while waiting on this.

Not really clear why the cash has taken another 4 weeks to make it across.


*Finally* have the remaining funds moved over to Interactive Investor. At some point, I was told by BSI that there was a 90 day wait once the majority of the cash was transferred to sweep up the remaining dividends. Though they also told me I had to ask II to raise another transfer request if I wanted the remaining funds transferred.....

90 days seems a long time to do something that seems quite trivial but glad it is all over and I have not suffered the grief other posters have suffered (as far as I know!). Also saw they had added a modest amount for fees to be paid by direct debit - called BSI and they have waived those.
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Jim99 on 16/05/2018(UTC)
Tyrion Lannister
Posted: 24 May 2018 22:20:59(UTC)

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On a similar theme, does anyone on here have an account with Cofunds/Aegon?

Hundreds of investors locked out of Britain’s largest fund shop.

huudi
Posted: 29 May 2018 10:12:05(UTC)

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I must practise what I preach. I urged earlier that everybody should check all dividends etc as Dumb investor has been unreliable from day one. I downloaded my March statement and found a glaring mistake, I had been paid a dividend on 0.66 shares in National Grid? yes, the staff and computers of NG &DI all agreed that I owned 2/3rds of one share! Of the 29p per share dividend I received 19 pence!
On first glance the sheet looked clean, the numbers balanced. I actually own 366 shares so that was ~£100 towards their Xmas piss-up. I have yet to contact them but as it took nearly 6 months before, don't hold your breath. I also found 6 monthly charges taken on the same day! 6? is this backdated? I thought charges had been cancelled during the period(ongoing) of the fiasco.
Check everything, trust nobody.
alan simmons
Posted: 29 May 2018 12:06:32(UTC)

Joined: 29/05/2018(UTC)
Posts: 5

Another day, another disaster at Barclays. Yesterday brought news that the embattled British bank would have to spend an extra £1 billion to cover the affects of
DGL
Posted: 30 May 2018 12:49:48(UTC)

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Alan: £ 1 Billion to cover what ?
Just had ££s paid into my ISA account (and the Mrs's account) - totally spuriously ! - only about £ 700 total but every bit helps .... !
I have of course immediately invested it so they can't grab it back easily !
huudi
Posted: 30 May 2018 19:49:21(UTC)

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Does anyone have an e-mail for Dumb I?
I need to rectify missing dividends before I move on but I still cannot send a message without a bank card & pin sentry, which I don't have.
Any help appreciated, it took 6 months to gain access and that was only after numerous written complaints.

Tyrion Lannister,
My wife had Pension savings with Aegon some years ago, they consistently ignored her request to take an annuity from age 55, in the ten years she waited annuity rates halved, a substantial loss. Recently they were ordered by the FCA to settle all the numerous complaints against them. I know nothing of Cofunds. Its your choice but the last letter we had from Aegon stated "Don't worry if you die, your money is quite safe with us".
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