ShareDeal active is Jarvis’s low-cost no-frills execution-only stockbroking service.
Though this may be a new name in broking to many, the parent company Jarvis Securities PLC is a well-established Aim-listed investment management and nominee company, that offer outsourced services, including clearing, nominees, SIPP, and ISA management, plus their associated back-office functions, to brokerages, investment, and wealth managers.
What accounts types do they offer?
shareDeal active offer Nominee, Stocks and Shares ISA, and SIPP accounts, they offer single name and joint accounts where permitted. You can also move existing shareholdings and investments across to shareDeal active from another stockbroker free of charge should you wish to.
You can apply for accounts online though the joint account application does require you to fill in a physical form. Online account applications made during office hours are normally opened on the same business day. Accounts can be funded by debit cards, bank transfer, or indeed a cheque. Certificated shareholdings can be transferred into crest by sending the certificates and a completed crest transfer form to shareDeal active.
What can you invest in?
shareDeal active offer access to all major international markets so pretty much anything is the answer to that. Although if you are investing or trading via a SIPP or ISA you‘ll need to make sure your stock choices are eligible for inclusion in those vehicles. You can trade online or via phone through the firm’s dedicated dealing desk.
What are the charges?
There is just one flat fee of £9.50 per trade and there are no inactivity fees there are fees for transferring stock out of shareDeal active nominee accounts however of £10.00 per line.
This is a low-cost no-frills offering so it’s not full of bells and whistles. That said the shareDeal active website does contain a section called market news that tracks risers and fallers news flow directors dealings and the financial press. There are also free charts on which you can plot three-way comparisons between say an index, a sector, and a stock which you cant always do on systems you pay for.
How do they compare to other investment accounts?
In terms of cost very favorably, and Jarvis has over 35 years of experience in stockbroking and investment management, so you won’t be dealing with an unproven startup. To some extent, you get what you pay for in financial services but if you just want to be able to trade cost-effectively with the option of human interaction via the dealing desk then this could be the service for you.
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