By any stretch of the imagination, I only wish that given the opportunity to shift broker when they introduced their new charges policy, I grabbed it with both hands wrestled it to the floor and rolled around lovingly with it for some time. The new charges whereby they now charge all account holders £80 per year were brought into play in the middle of this year. This can be offset against trades throughout the year. Sounds not too bad... Well it's not if you trade. Interactive investor sold themselves heavily and pushed so strongly the fact of "no inactivity fees" and no management fees not a year ago so this news came as somewhat of a surprise to a lot of Interactive Investors customers.
Well I had a major hassle with Interactive Investor over that time whereby my whole portfolio was seemingly shipped to another broker wrongly and it took Interactive Investor a very tardy 8 weeks to finally sort it out with me wasting probably days chasing down dividends that had been paid to wrong accounts, all in all they're now coming across as a bit of a shambles. It takes them up to 5 days to respond to messages, they state it can take 3 (but even at 3 days - we're in the digital era where messages are sent instantaneously), why not take on more staff and appease your (now paying, whether they like it or not) customers. So Melrose changed new shares for old shares 1 for 1 yesterday at 8am and were supposedly available to trade immediately. Well you got it, more than 24 hours on I have a large whole in my portfolio where Melrose used to be. Come on III sort it out!
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