We have a long history as an established member of the London Stock Exchange. Our experienced staff have specialist knowledge on a wide range of investments.
Execution-Only Dealing Service
We offer two Execution-Only Dealing Services: our Online Dealing service (ICON) which is designed for clients who prefer to deal online and our Phone Dealing service for clients who prefer to deal over the phone through our Central Administration Support Team. Note that different charges apply for these two services and we have therefore created a Charges Projector to assist you in determining whether our ‘online’ or ‘phone’ based service, is going to be the cheapest to operate for you.
Dealing Online (ICON):
Most clients find our web portal the most efficient and cost effective way to place their dealing instructions, where in the case of UK listed securities, a “best price” is returned for the selected stock within a matter of seconds. Once you have deposited cash and/or stock, it is possible to place an online purchase instruction up to the value of your prevailing cash balance or place a sale instruction, up to the quantity of stock held in our Custody Service.
Whilst we appreciate there may be occasions when it might be difficult for you to place a trade online, you may give an instruction to our Online Services Team over the phone. We reserve the right to apply a £25 Telephone Charge.
You can now apply for an ICON account online which only takes a few minutes to complete.
Dealing over the Phone:
Alternatively, if your preferred approach for placing your investment instructions is by phone, you may do so via our Central Administration Support Team. They will be happy to provide you with the latest prices of the investments you are looking to trade along with any generally available market information on them. Our professionally trained staff will deal with your requests. Unfortunately, we cannot provide you with a personal recommendation or advice.
All dealing instructions, however communicated to us, are subject to our Order Execution Policy.
Which investments can be traded:
It is possible to place dealing instructions in UK and overseas shares, government or corporate bonds, warrants and Collective Investment Schemes such as unit trusts and OEICs.
In the case of UK and overseas shares, which also includes investment trusts and Exchange Traded Funds (ETFs), you can instruct us to purchase “at best” or set a limit price.
Before we execute an investment instruction into a Collective Investment Scheme, we will provide you with a document created by the relevant fund manager, outlining risk factors and charges information that you may find of interest.
Custody Service:
Central to our Execution-only Dealing Service is the use of our Custody Service which greatly improves the efficiencies for everyone concerned be it for clients placing regular transactions or those who trade infrequently.
Transfer of existing investments into the service:
If you have existing investments which you wish to transfer into the service, possibly in a certificated form or those held by another custodian or ISA Manager, we can arrange this for you. Please contact us and we will provide you with the relevant forms to support this.
The time it takes to complete the process, once we are in receipt of the relevant forms and documents, varies by the circumstances in question. However, having established your holdings, be it by the receipt of supporting certificates and statements or following the formal confirmation of those positions held with another custodian, we would expect the process to typically take around 6 weeks to complete. As a word of warning though, we have experienced longer time lengths than this when dealing with overseas stocks especially when they are certificated.
Whilst investments are in the process of being transferred to us, it is not possible to place trade instructions on them.
Whilst we do not charge for the work associated with transferring them into our service, an existing custodian or ISA Manager, may apply a transfer-out charge. We would expect this to be detailed in their service charge card.
Online Valuation Facility:
Our web portal allows you to access a current valuation of your portfolio, 24 hours a day, 7 days a week. This facility also allows you to view a historical valuation of your portfolio as at the close of play on any business day. The system also provides you with the ability to access contract notes and quarterly valuation reports, along with tax reports issued each June.
Account Types:
In addition to placing dealing instructions in a general investment account, you can also place dealing instructions in an ISA administered by us as we are an HM Revenue & Customs approved ISA Manager. Learn more about our ISA facility.
It may also be possible for us to accept instructions you may have within your pension or offshore portfolio bond dependent on who they are administered by.
Cash Balances:
The rate of interest paid on Cash you hold with us is detailed in the Execution Only Dealing Service Charge Card below. An element of the interest that we may receive on your cash balance will be retained by us.
It is more than likely that the rate of interest received on your cash balance in a general investment account or ISA, will be less than that paid by banks and building societies on their deposit account arrangements.
The prevailing cash balance, is not included in the total portfolio value, used to determine our fees as detailed in the Charge Card.
Investing in stock market based investments may not be right for all investors. You should consider carefully or seek professional guidance before investing. The value of an investment and any income from it can fall as well as rise and you may not get back the amount you originally invested.
