Broker roadtest - Sharepeople

By THIS IS MONEY
Updated:

 

Rating - One Star

Sharepeople has taken many of the best aspects of the existing online brokers and combined them to offer what appears to be excellent all-round service. The service is flexible, and for an extra £2.50 per holding, clients can have share certificates sent to them.

However, my experience with Sharepeople was a disaster.

It apparently did not receive my application form and cheque despite having being sent in a bright yellow pre-paid envelope.

On hearing this, I took the trouble to go to London to open the account personally. On arrival, I was informed that this could not be done because the utility bills I had been asked to provide were too old. My most recent bills were 'lost in the post'.

To speed up opening my account, I asked my bank to transfer funds to Sharepeople. The transfer couldn't go ahead because Sharepeople had supplied me with a bank sort code that didn't become active for another week.

Despite all these problems, the account was opened within 16 days.

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