Stock brokers UK - help dealing shares online

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You may find that you need the help of a UK financial adviser, stock broker or investment manager to go about dealing online - as the buying and selling of shares can get complicated. This kind of assistance can come in the form of execution only (sometimes also known as dealing-only), advisory or discretionary:

Execution Only - this means that you do not receive any advice, and the stockbroker is simply employed to execute the deal.

Advisory - for a fee, the broker will advise you about which shares he or she believes you should buy and/or sell.

Discretionary - this is where you give the broker permission to make decisions on your behalf. Often this option is only available to and worthwhile for share dealers whose portfolio of shares has a total value of at least £30,000.

How much will I be charged?

This question is about as difficult to answer as the old adage, 'how long is a piece of string?'. It really is difficult to compare stockbroker fees because they all charge in different ways. In spite of this, if you are buying or selling shares worth £1,000 or less you should be checking what the minimum commission fee is going to be to make a fair comparison. Although this is not the only feature you should use to choose a stockbroker, most of the large, well-known brokers will charge a minimum fee of between £10 and £20.

Where can I find a stockbroker?

Your local bank or building society should be able to point you in the right direction. Alternatively, a list of reputable brokers can be obtained free of charge from the London Stock Exchange or from APCIMS (the Association of Private Client Investment Managers and Stockbrokers). APCIMS is a trade body and can give you details of all its member brokers, including contact details and areas of service.

Once I have chosen a stock broker, how do I make contact?

These days there are a number of options. You can make an appointment with the broker and discuss your requirements in person, or you can communicate over the phone, by post, by email or interactively over the internet where this service is offered.

© The Pink Fridge Online Magazine 2008 - Stock Brokers