When a broker goes into insolvency, such as Beaufort Securities, as reported in today’s City AM. It’s an absolute nightmare for clients.
The administrators, despite their growing experience with stockbroker insolvencies, tend to move slowly. For instance when MF Global went into administration clients had no idea if they had open derivatives positions or not.
But for Beaufort Securities clients looking for a new home for their investments take a look at our investing accounts comparison tables. You can compare SIPP, ISA, stockbrokers as well as high risk investments like spread betting or Forex trading.