Redmayne Bentley Gordon clients affected by Brexit?

postman pat

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Hi
I deal with a british stockbroking firm with offices in Cork, I spoke with them about the effects of brexit on dealing etc and was assured everything would remain mostly the same but was told one of the brokers in Cork might have to move to the british office to deal with irish clients, this rang alarm bells and my question is, would i be better off moving my portfolio to an irish based firm
I am quite happy with this firm and would appreciate others thoughts on this.


Pat
 

Marc

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All MIFID authorized firms which would include your broker are required to put in place Brexit contingency plans.

If the firm is passporting services from the UK, then in the event of a hard Brexit, freedom of service rights from the UK could come to an end which would mean you may have to engage another broker.

Many large firms have already moved from the UK to other EU countries to address the uncertainty, Barclays Bank for example has moved its European operations to Dublin.

https://www.telegraph.co.uk/politics/2018/12/19/brussels-reveals-limited-temporary-plans-moderate-damage-no/?WT.mc_id=tmgliveapp_iosshare_ArwHCFpZvpGf
 

postman pat

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Hi,
The firm is Redmayne Bentley Gordon,so reading between the lines I should sit tight and see how things go?..thanks for all replies.

Pat
 

Bronco Lane

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I have had a look at their website. I cannot see their costs associated with an "Execution only" service? How do they compare?
 

postman pat

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Hi Man2020,
I'm still with Redmayne Bentley as I write, I phoned them in England and was assured I could deal with them directly there without any issues,but I am still in contact with their former employees in Cork who say they are close to coming to a deal with a stockbroker here and will take on clients in the near future,so I will just wait and see what happens there.
Also Bronco, maybe just phone them and get their charges etc,They are quite good to deal with over the phone.

Pat
 

postman pat

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Just one thing Bronco, in relation to charges etc,it just struck me that Redmayne Bentley are more or less an online stockbroker to their clients in Ireland now,so maybe have a look at some online companies.I know these are far far cheaper for execution only,I actually opened a Degiro account recently and bought a few token shares to test it out for a while.

Pat
 

Ravima

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went with degiro too and find them efficient. The app is not the easiest (for a non techie), but I can manage it! Charges are very reasonable.
 

WaterWater

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Certainly with Davy, you have to cover their costs before you start making a penny for yourself Half percent to buy. Half percent stamp duty (ftse) and a half percent to sell. If you purchase an Irish share it is one percent stamp duty. Crazy stuff altogether. You need a big jump in the share price to make money.

I really need to try a stockbroker with lower charges where I can make money on smaller moves in the share price.
 

Ravima

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you have no control on stamp duty. that is imposed by government. 1/2% by UK gov on UK stocks and 1% by Irish gov on Irish stocks. There is no way around that.
 

WaterWater

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What do you mean WaterWater?
You are a customer of Redmayne. Why not let us know what the buying and selling costs are?

You have asked lots of questions on AAM and received answers in the past.

I thought that you would be willing to advise us here.

But if you don't want to, then that's fine....
 

postman pat

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I will explain why WaterWater even though you appear to know all the answers already,There are many different charges for different markets , shares etc.I do not know all the different charges and rather than getting it wrong I advised Bronco to get in touch directly with Redmayne Bentley.

Pat
 

WaterWater

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Thanks RedOnion for the link.

I will explain why WaterWater even though you appear to know all the answers already,There are many different charges for different markets , shares etc.I do not know all the different charges and rather than getting it wrong I advised Bronco to get in touch directly with Redmayne Bentley.
As Bronco Lane had asked for Execution Only charges and nothing else I thought that it might be easy for you.
 

postman pat

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one second here. Bronco asked a question, I answered it as best I could. then all I get from you two is grief about the quality of my answers and to be honest it’s none of your business! this is my last contribution on this subject so maybe the “answer police” can go annoy someone else..
 
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