Ring-fenced doesn't appear to mean ring-fenced any more
4 months ago by
I note the posting and reply to Lord Lee's question on these fora (which seems to give the statute basis for the deduction of fees from client assets).
I note the suggestion elsewhere on these fora of CREST membership (happily, having spoken to my broker, they do and would be willing to offer this) but CREST is increasingly rare to find these days.
Using more than one broker is a possibility, but that creates extra work (and as someone pointed out, if using two brokers, doubles the possibility of having a broker go bust on you) and also creates double admin work and tax work etc. As it happens, I do use two brokers already (one for my ISA, and one for my main share portfolio).
My broker's response was fairly outspoken when I discussed the matter of fees (No, I won't reproduce what he said as it wouldn't be fair and he told me in confidence from a personal e-mail from his CFO)