ISA Terms and Voting

The terms was last updated this month and states

If you elect:

  • we will arrange for you to receive a copy of the annual report and accounts issued by every company or other concern in respect of Securities which are held directly in your Freetrade ISA (we can charge a reasonable fee for this); and
  • we will arrange for you to be able attend any meetings to vote in relation to your holdings of Securities within the Freetrade ISA and receive any information issued to shareholders in addition to annual reports and accounts;

I have asked to be allowed to vote and am being told that I cannot as the platform dose not allow this and being referred to other terms and conditions (Not the ISA terms) so if this is the case then why is it in the terms for ISA accounts clearly stating we can as this would suggest FreeTrade are purposely misleading customers.

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TBF Freetrade do seem to be pretty poor on this subject :man_facepalming: If it is a rule then fine but at least make sure it is universal across T&Cs and just post a message to confirm. It’s not like the subject hasn’t come up lots.

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Yep the terms and conditions they referred me to states in section 1 that if I have an ISA account I will be subject to them terms so ultimately they are in breach of contract by telling customer with ISA accounts they cannot vote and face possible legal action because of this.

They do have small print that basically says they can change rules etc to cover anything but for a platform that likes to have a cool image they could just post a message saying why. Comms are very good in one sense but pretty poor on the next topic :man_facepalming: :joy:

Yes this is common practice but more importantly at the time of asking we are under the current terms so they have already breached the contract changing terms now or in the future would not change the breach of contract form a legal point!

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i would like to vote in a few companies upcoming votes including GME. :smiley:

I don’t want to stir things up here, but why exactly do you want to vote in the GME meeting?

I’m pretty sure most people clamouring to vote in the GME things are really just trying to somehow check their stock actually exists rather than actually voting. Don’t get me wrong, that’s a reasonable thing to want to be sure of, but if so we should ask the direct question (which I believe has already been answered) rather than trying to force FT into engineering a solution to the voting problem when actually that isn’t really what the concerns are about.

As far as I understand it, the GME vote is just to appoint some board members that the existing board has unanimously encouraged people to vote for, and there are enough big shareholders already voting for it that individual shareholders voting in the election would make no meaningful difference. And the only choice you have is to reject the proposed board members or approve them, and AFAICT it’s in the interest of all GME shareholders to approve.

So, what exactly is the point of voting? I think everybody really knows it’s just a pointless exercise to prove that there are more shares sold than actually exist, which I think everybody already acknowledges at this point.

EDIT: Just to be clear, I think we should be able to vote out of principle, but that’s a separate issue to the GME mess.

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Several reasons, the problem with this statement and any voting to be honest be it political or in this case securities is that the statement is only valid if you have a guarantee that everyone has the same agenda however in reality nothing in life is guaranteed if it was then there would be no point in anyone voting!

The GME vote is more than just voting, it can legitimately verify the corruption in the market and force a change in stock manipulation practices by large corporations, currently this cannot be done with the limited information and so far the share count is just an estimate but verifying this could change the market benefiting retail investors when it come to future investment. Not everyone is in it for the MOASS as just like everything else noting is guaranteed many see it as a different version of protesting against the financial institutions, other see it as a good long term investment others have many other reasons because people are different.

But this thread is more about the issues with FT telling us we can vote on securities we own in the ISA T&C’s not a thread about a particular stock I don’t want it to diverge from the topic.

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What did they say when you corrected them on their misunderstanding of the terms?

they have said they are raising the issue with other members of the team, I haven’t had a reply back yet but it’s the weekend so will see tomorrow what is done!

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Because as an owner of a stock i have the right to vote. Don’t really care if its GME, KO or any other stocks. It’s part of ownership of the stock and I want it to be implemented as soon as.

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Large stakeholders might not have the majority. Smaller stakeholders might get hurt if they don’t vote and allow larger stakeholders to call the shots.

You could argue the same about taking part in country’s general elections. You are just one vote, but if you and others don’t participate someone else will decide about your future.

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Very interesting! I was also told I can’t participate in any AGMs of shares I hold in ISA account.

The reason seems to be technical. I hope Freetrade can address that soon.

Except the entire rest of my comment made it clear my question was very specifically asking about the point of voting in the GME meeting when it was a YES/NO vote to approve a unanimous recommendation by the board that’s in everybody’s interests to have passed.

I don’t understand what is your point.

GME or not:

  • You should always have option to vote.
  • You should always vote as a good practice.

As a mental excercise have you considered that perhaps if more people voted in GME AGMs in the past the company wouldn’t be on a brink of a bankruptcy?

Do you see what I mean when I say you should always have an option to vote and vote as a good practice @ralf ?

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Except the entire rest of my comment made it clear my question was very specifically asking about the point of voting in the GME meeting when it was a YES/NO vote to approve a unanimous recommendation by the board that’s in everybody’s interests to have passed.

Who’s to say it’s in everybody’s interests? That’s the whole reason for holding a vote - GME or not.

If we have a right to vote, we should be allowed to vote, it’s as simple as that.

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If you actually read all of my comment, rather than quoting part of it out of context, you’d see I agree with you on the principle of being able to vote.

The point I was making was that people are going on about this now only because of GME. There are many features that FT is missing, and many of them are things which most people consider far more important than the opportunity of voting in a meeting where the result is already a foregone conclusion.

The ONLY reason people want to vote now is to prove that there are many more shares sold than shares issued, a fact that everybody already knows.

People is a GME guy, me and the guy who holds ETFs. We are not a faceless crowd. Please avoid generalisations like that as it is difficult to have a proper discussion.

I want to vote in my AGMs, the other guy wants to vote in GME AGM. You agree that we should be able to vote.

If people want to make Freetrade better let’s put this option in if we can… even if this is only because of GME.

What’s the problem @ralf ?

Please stop mentioning me in every reply. I can’t do anything about your request, and you don’t have to try to convince me your cause is worthy.

There’s an area of the forum where you can request enhancements to the app. This isn’t that area. The Freetrade team seem to have very limited resources for adding new features, so the ideas section of the forum allows people to vote for the features that matter to them and in theory, the most requested features get implemented first. If Freetrade prioritise support for voting, that means other features will get delayed.

You don’t need to take my use of the word “people” personally. It includes more than just yourself and the other two you mentioned, as this isn’t the only place in the forum where people have complained about not being able to vote. And the reason seems to overwhelmingly be because they want to make some kind of statement with GME. I understand totally that there are other reasons for wanting to vote, maybe it’s just entirely coincidental that the frequency of people wanting to do it increased after someone on reddit suggested it was a good idea.

Sorry, I’m not mentioning you any more.

I was trying to answer your question why voting is important regardless who requested it and for what reason. That was your question. Discussion diverted on GME for some reason and you seem to have strong feelings regarding it. That’s fine, but we are talking about ISA T&Cs mentioning voting and lack of that feature. I would love to have that feature implemented, especially because Freetrade wants to be a place where we buy and hold long term.

Also this is a chat about ISA Terms and Voting. I would argue this is the area to discuss pros and cons of implementing that feature. Obviously I’m not requesting it here; I appreciate there is a place in the forum to do that. Freetrade’s limited resources are out of scope of this discussion. Perhaps there should be an entry on top of most requested features saying “Freetrade should hire more developers”?

Freetrade has been doing great job so far and hopefully will implement this and other features soon.

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