Portfolio Admin

makfli

I have a share portfolio which costs €275 pa in fees to Cantor. I have had a letter from them advising that because of significant increases in regulatory fees and custodian fees they are increasing admin charges to 0.5% of the portfolio value. This a significant increase which I would like to avoid if possible. Appreciate any advice, I am not really a trader and dont generally seek advice from the broker, just go by what I read on line, media etc.
Grateful for any pointers.

Frogdog

Move to DeGiro.

makfli

Thanks Frogdog, never heard of them but had a quick look at their website and FAQ,s. Do you use them ?
One of the reasons I use Cantor and before that Goodbody is the feelgood of Regulation and security. Also the consolidated Tax Voucher which I need to complete the tax return, I presume if I moved to De Giro I would have to do the Tax Voucher myself which would be impossible.

Cute Hoor

makfli wrote: »

Thanks Frogdog, never heard of them but had a quick look at their website and FAQ,s. Do you use them ?
One of the reasons I use Cantor and before that Goodbody is the feelgood of Regulation and security. Also the consolidated Tax Voucher which I need to complete the tax return, I presume if I moved to De Giro I would have to do the Tax Voucher myself which would be impossible.

Tis a lot of money going down the swannee makfli for a feelgood factor, those fees are mad. There will be risks (however minimal) with any online broker where you don't get your hands on the actual share certs, but I cannot see how DeGiro would be any riskier than Cantor. No problem with the Annual Tax Reports either, login to your account, click on 'Reports' in the 'Statements' dropdown menu and there they are - for every year you've been with them, simple as that.

banie01

I've not used Degiro myself, but I have heard good things.
I do use Saxo Bank and the reports and statements needed for tax compliance really are just a point and click affair.

I have also used TD Waterhouse in the past but I would advise anyone to steer well clear, poor platform and even worse support.

makfli

Many thanks Banie, cute hoor and frogdog info much appreciated, I might try with 3 or 4 stocks with De Giro initially and see how it goes. Thanks again