Should Freetrade use only neutral descriptions of stocks?


#1

Scrolling through the stock list, I can see a few examples:
Aston Martin - Fancy Cars (Automotive)
AstroZeneca - Drugs (Pharmaceutical)
BT - Slow Internet (Telecommunications)

Would it be better to have impartial descriptors, like i have suggesed in brackets? It seems more professional and does not influence people’s opinions of stocks.


(Alex Sherwood) #2

Following the chat about BT’s description, let’s try something different for this topic & use a poll so that we can see how many people like the alternative too..

  • Use neutral descriptions
  • Use unconventional descriptions

0 voters

I’ve used ‘unconventional’ to try to keep the description as neutral as possible :innocent:


#3

I’m in the camp of unconventional descriptions but with the proviso that they are at worst neutral.
For example, Drugs for Astrozeneca I converge to indifference although Medicine would be my suggestion. And when it comes to Slow Internet for BT, I’m not a fan of it and would like @Toby’s “Big Tower” descriptor more.

Ultimately, unconventional gets my vote.


(Emma) #4

Yeah, Toby made a good call with that


#5

+1 from me on this.


(Kenny Grant) #6

I like the quirky descriptions as long as a bit more serious detail is provided as well in the longer summary, but feel the BT one crosses a line into snarky.

So I’ve voted for unconventional with the caveat that it doesn’t stray into negative. I’d like to see the BT one changed if only because it’s going to waste a lot of support time as you scale.


#7

I don’t want Freetrade to be accused of influencing investment decision as that may lead to all sorts of trouble.

Be impartial and provide the trading platform (boring I know, sorry)


#8

I don’t have a strong view on this so just be consistent.

Shouldn’t the poll have a “unconventional and neutral” option?


(Alex Sherwood) #9

I can’t change the options now that people have voted so if you’re neutral, please don’t vote :raised_hands:


#10

I love the unconventional and quirky descriptions.


(Chris) #11

Man, if someone wants to invest in BT and is put off by the description “slow internet” then they’re clearly not doing any sort of research on their investments.


#12

Fair point and if you don’t know what BT does then maybe their marketing department needs to rethink all their adverts :rofl:


#13

The humour is much appreciated here :smiley:

I have a feeling this is going to be as controversial and divided a topic as the “hot coral or plain colour” threads that have plagued Monzo since day 1.

A significant minority of people just don’t want humour or anything different or interesting in their financial services/lives.

(Tongue in cheek warning) How about a toggle in the app with 3 settings - Serious (what this topic is calling for), Facetious (what it is now) and Damn Right Crude (what I’d have it set to).

eg. “BP - large dividends, larger oil spills”.


(Emma) #14

I’d volunteer to help with the crude listings :yum:


(Matteo) #15

Even if I voted for the neutral descriptions I don’t mind and I quite like the unconventional approach. What concern me is that many people are unfortunately very sensitive and make a big deal out of nothing. I know is a bit comparing apples and oranges but a comedian went to jail just because was joking about his dog making a nazi gesture.
My point is just to be wary because not everyone has sense of humor, unfortunately, and lawyers are expensive.


(Emma) #16

If someone hires a law firm then it gets changed at that point, although personally I think the legal arguments on what constitutes slow internet would be fascinating.


#17

I like the unconventional ones. It’s more fun! And as mentioned, you’d be daft to make investment decisions based on those. Brokers also make all sorts of disparaging comments about PLCs.

Even the boring normal descriptions can be ‘wrong’ to some people. I don’t have access yet, but I noticed on a screenshot in another thread that Associated British Foods is classed on Foods. But to me ABF is Primark, and in fact Primark is by far their biggest individual business. It makes about £7bn in revenue while their grocery brands make less than half of that.


(Kenny Grant) #18

I don’t think people are judging BT by this, but they are judging freetrade.


#19

But one of the main points of Freetrade is to appeal to those who are not investment savvy (yet, they are just starting out) and they will absolutely look at some shares and (maybe) be pursuaded by the description.

I sound like a killjoy I know, but I want this to be a huge success (for many reasons).


#20

I’d argue that Freetrade might also appeal to experienced investors (eg those maxing out their S&S ISAs year on year) who want to pay lower transaction fees for their investments. Some may be put off by the ‘quirky’ descriptions and not see FT as a serious company but then again, some others may see them as a breath of fresh air.