I see Freetrade featuring regularly these days in this kind of easy reading fluff piece. Good work from the PR team for what is essentially free advertising.
What’s stopping you from moving them over to Freetrade?
Can you please elaborate on that thanks
Nothing to do with Freetrade as much as it is the ISAs are with my established providers. I use Freetrade to invest in stocks, and speculate more of a hobby as I enjoy doing the DDs on pennies.
So it’s not trust?
I’d rather have my ISAs with a big bank or an AJ Bell yes I trust them more, especially when you consider other things like CX.
I am not bashing Freetrade, I am a net promoter, but there are some challenges to Ft scaling and that diminishes trust.
That’s interesting. I think banks have had some of the least problems? Though even established brands have had issues of falling over (HL comes to mind).
What makes AJ Bell more trustworthy if you don’t mind me asking? E.g what’s the criteria?
I am giving AJ Bell as an example, could be AJ, HL, Vanguard. I work within FS so maybe I am biased.
I am waiting almost 4 days for Ft to get back to me to update my address so I can trade US stocks…
@CashCow your services are required
Thanks for sharing DD. Trust is the name of the game for us. We’ll be doing everything we can this year to convince you to transfer everything over to Freetrade.
Having a CEO of a company reach out towards a potential customer is fantastic to see and shows a hands-on approach rather than sitting in their ivory castles.
Freetrade now have a good solid customer base which has been built up from the grass roots level. Im glad I’ve invested a five figure sum so far and hoping to get this to six figures.
I have trusted a large amount of my capital with them and have not regretted it.
There are also a lot of us waiting in the EU whose friends and family are already tired of listening about FT (for 3 years soon)
My wish for 2021 is a more complete financial data and analysis in the app to be able to pitch it to a more sophisticated crowd and feel easy about recommending them to subscribe to Plus.
There is an app in the US that has been able to convince 10m clients (not RH) in a similar amount of time with a good product so the potential of growth in any market is huge even with existing providers.
And also would be great to see a podcast or some video/audio format from FT to listen to on the way to work!
@BOOM would be great also if Richard didn’t miss his geography classes… The news can not come soon enough
P.S. And instant SEPA transfer for EU, of course.
I really don’t have anything to say except that AJ Bell aren’t really that great.
I’ll just add that their bewildering incompetence really messed up my LISA plans and given that it was the first investement product I’ve ever had it really annoyed and irrtated me as I expected an established player in the market to be more reliable and as @DiltonDoiley suggested you’d think they’d be more trustworthy but the problem wasn’t just that they let me add non-ISA eligible stocks to my ISA it was more about how they handled it afterwards warning me about it and saying they’d be in touch but then that took over a month until I heard from them and then there was no apology it was just a case of you have to sell them and buy other things but they were more than happy to take the initial £9.99 buy for that stock the £9.99 sell and then however many more £9.99 trades it would take for me to reinvest that money in something that should actually be able to go in a bloody ISA in the first place and it was only when I kicked off that they bothered to refund SOME of it but not a lot and there wasn’t really much in way of an apology and certainly no compensation and the whole thing put me off them as a brand and made me resent their very wealthy owner who’s clearly stopped innovating and the whole company is resting on its laurels and just reaping in the £9.99 trade costs without fixing anything behind the scenes or developing the company and thank god Freetrade and others have come along to shake things up and if I could afford it I would have 200 rolls of toilet paper custom printed with the AJ Bell logo on it and I’d give half of them out on here and send half of them to Freetrade HQ for their toilets.
As I don’t have anything positive to say it’s probably best that I keep my opinions to myself. Oh there is one thing, they had quite a few outages on their app/website in 2020 at times when Freetrade was up and running without any issues… so there’s that
FT are opening an Australian office, according to information gathered by AltFi - not sure if anyone else saw this?
The one thing that stops me moving my ISA to FT is lack of auto invest. The moment that comes in via debit card or DD then the money will come across.
Haven’t heard of that one before…