"I think I may be partly guilty for the award.
I seem to recall filling in a survey several months back in which I gave iii a good report for system and service.
Not so now !
Somehow it should be made clear that the award is for a setup which no longer exists."
I'm fairly sure ADVFN's awards are decided by their relatively small panel of in-house judges.
That iii won the award for best low-cost broker, amongst a couple of others, perhaps shouldn't surprise us as they'll be up against the likes of X-O, iWeb, et al, all of whom have fairly vanilla websites, with far less research facilities & more limited investment services.
Also, as you indicate above & as a former TDD client so going by past customer reviews only, prior to their takeover of TDD, iii were actually very highly regarded. Presumably these awards factor in iii's overall performance for the past year, which rather obscures the lack of professionalism many customers have reported over the past 3 months.
To win again, they'll certainly need to up their game & get back to their former standard. But at least this has been acknowledged by their CEO Richard Wilson in one of his recent videos.
By the by, maybe of interest to some, ADVFN's award for best overall online broker was "The Share Centre". After recently looking at their customer reviews on sites like Trust Pilot, they certainly look a viable contender for anyone still intent on transferring out. Very highly rated overall, despite a few inevitable harsh criticisms from a minority.
FWIW, I'm still looking around, but keeping all my options open for a little while longer. - Regards.
I think I may be partly guilty for the award.
I seem to recall filling in a survey several months back in which I gave iii a good report for system and service.
Not so now !
Somehow it should be made clear that the award is for a setup which no longer exists.
These limit companies to not purchasing more than 25% of daily typical volume, include limitations on the price that can be paid and on publishing the full list of transactions executed, amongst other things.
For several of the HSBA buybacks I imported all of the transactions and plotted no of shares purchased vs time of day. The result was always a flat buying pattern over the working day, executed in short pseudo random intervals and transaction sizes.
I concluded that each day someone decides the total number of shares they are going to purchase that day and feeds that into some piece of software which then executes pseudo random purchases at short time intervals to distribute those purchases evenly over the day. I would be reasonably confident that a similar process is going on with Lloyds though I have not done any detailed analysis on the Lloyds buyback.
As somebody else said, sometimes buybacks work and increase the share price and sometimes they dont. I have closely monitored 3 different ones, 2 for HSBA and one for NG. Only one of these had a useful effect in terms of increasing the share price.
a buyback makes sense if the cost of capital invested in it is higher than the cost of shares. in this case it is excess capital so the cost is zero so you need to see if lloyds has any form of using it that returns per year more than the dividend... it seems not.
BoE set a minimum of 4.5 yet borrowers who just meet this standard are now being classed as too risky to lend to, the banks are being put on notice that they may need to boost their reserves ahead of any stress test. If a minimum is set then BoE should live with it or reduce it to the cover to 4 or 3.75 rather than through additional buffers.
critterman - Yes,my friend, Darn good job I didn't hear your "trumpster" in Publix. You can't change their thinking though...I've got neighbors thus inclined. W. Supremacists, houses full of guns and ammo, total braggarts and they spit pure venom at the mention of Obama. Their wives drive the biggest V8 trucks they can afford....probably 'cos hubby has such small (hands?) LOL . Hopefully next November interim elections will get rid of the last Nevada R Senator out of Washington.
Publix - now there's a truly great supermarket chain and a progressive and brilliant Company. Unfortunately their shares are not available to such as ourselves ...only employees and directors.
My US Lloyds shares haven't performed too well these last 12 months (compared to Santander (USA). US Lloyds shares are currently valued $3.80 .
The sun is shining. Have a wonderful Weekend, everyone...Bremainers, Brexiteers ( and even Republicans !)
I think it must be a new (unwelcome) feature oldeyes?
Crazy to think you can get three different offerings from Lloyds, their own, Halifax Share Dealing and iWeb. Hopefully they use the same underpinnings for all to save cost.
You'd have to be very daft to use the Lloyds service, it's ridiculously expensive. If I were a Lloyds bank customer I'd be very cross when I found out they are skinning me. Even Halifax is twice as expensive.
"I would have thought that buying 'cheap' shares is good in terms of a buyback plan....it means you get to cancel more shares and get an even greater increase in EPS. EPS growth could be a driver for SP & dividends"
Well I guess only time will tell whether LBG are currently "cheap" Given the uncertainities prevailing I would've thought "jam today" for a divi increase for the long suffering shareholders would be well received.
Hope the buyback works, it is not risk free. There is no guarantee an increase in shareholder value. Sometimes they work and sometimes they don't. IMHO
Thought the fox news bit would get you going.
As you know it's a bit Trumpy down here, I was wheeling the cart back to the car the other day after a Publix expedition to feed the five thousand and heard a guy telling someone that Donald (president not duck) would go down as one of the best US presidents in history. I'm just so glad you weren't with me!!
I do wonder why banks have regulators who adopt a shot-first approach while other sectors appear to have a different set of rules? Where are the Arnold-like adverts asking customers, who may have been mis-sold, to make a claim. etc.
Where are the testosterone fines or senior manager bans from working in retail? lets have one rule when it comes to mis-selling.
Been trialling iWeb, it seems pretty effective and the absolute pleasure is a fiver a trade although there is an initial one off set up fee of £25.
Not sure it has the features for everybody but for good old day to day buy/sell
it's fine, plus you can speak to them via web chat which is useful. They also appear to be developing the platform regularly.
first it was the widely discredited Project Fear, recession forecasts, 500,000 job losses, housing market collapse and hit to pensions tactics, to get yourselves to 48.1%.
Now it's insults, generalizations and absurd assumptions about why so many Great British people voted to leave the EU, the latest one an insinuation from Hard Remainer supporting Guardian newspaper suggesting it's only the rich Brexiteers that are taxdodger.
'Point is .. the Super Rich poured money into the Brexit campaign for there own benefit'
... insinuating the Remainer Super Rich supporters are all altruistic wonderful individuals.
Your obsession with the EU, and of over turning the democratic vote, is thankfully, not shared by the vast majority of ordinary folk.
Remain Financial Donors
1. Lord Sainsbury
Net worth: £560 million.
= 2. David Harding.
Donation: £1 million.
Net worth: £1.3 billion.
= 2. Mike Gooley
Donation: £1 million.
Net worth: £360 million.
4. Mark Coombs
Net worth: £1.156 billion.
5. Lloyd Dorfman
Net worth: £556 million.
6. Nathan Kirsh
Net worth: £3.977 billion.
7. Lisbet Rausing
Net worth: £9.25 billion.
8. Ian Taylor
Net worth: £180 million.
"If the market corrects downwards in the future the buyback will look a rather "expensive" symbolic exercise"
Is it all a load of symbolics?
I would have thought that buying 'cheap' shares is good in terms of a buyback plan....it means you get to cancel more shares and get an even greater increase in EPS. EPS growth could be a driver for SP & dividends.
If the SP were to drop to say 50p (unlikely???) then if I was running the buyback scheme I would be saying "Great....let's buy as many shares as we can".
I don't know how such buyback's are arranged....presumably drip feed the money on a daily basis.....spread over a defined period (presumably 1 year).
FIAT agree there is little quantifiable effect of the buyback on sp. However wouldn't a 1.4p extra on divs give a bigger boost to the sp?
If the market corrects downwards in the future the buyback will look a rather "expensive" symbolic exercise. IMHO
I am not expecting to see any significant sp price appreciation as a result of the buyback process. It is being done slowing just like when HMG's holding was sold back into the market. That process didn't cause any ripples and neither will this. When all is said and done, a £1 billion buyback amounts to a reduction in shares of around 2%, equivalent to roughly 1.4p per share. Any upward movement due to the buyback would be easily be masked by general movements in the market caused by events. It is still worth doing and hopefully there will be more to come and for sure it will have a cumulative effect.
The EU brought out the anti tax avoidance law which comes into force next year. see link 1
This law is hated by Brexit & Tory backers plus Tabloid Newspaper owners great many of whom have their noses in the offshore tax haven trough.
In Jan 2016 Uk (Tories) lobbied against naming offshore tax havens around the same time Cameron was forced to have a referendum (strange timing) see link 2
of its overseas territories.
Hi All this was my post re tax avoidance since then I had many replies.
I was asked for names of Tabloids owners and Brexit backers.... I gave both.
It was said Remains voters were rich.. Not the point (silly)
It was argued that Tax Avoidance is legal and we all do it.. True but the EU are trying to close loopholes to make companies pay taxes in our countries thats good idea??
Various Tax havens were mentioned... however the fact that the UK GOV would lobby against naming Tax havens says a lot. they would all come under the new law.
Point is .. the Super Rich poured money into the Brexit campaign for there own benefit. They cant control the EU like they can the Tories so they spent massive amount of money to incite our in particular older and poorer people to vote leave.
It was successfull but cynical and false.
To our shame we have 17million + people in the UK who voted Leave yet even now they couldnt name an EU law OR their MEP.
We seem to be getting more and more posts now saying If we leave we will be worse OFF for a few years then better off some time after. Cant remember that being said in the debate so another case for another referendum??
Does anyone want to discuss the tactics they used to win the Vote??
Hi Soi, I always thought you traded through IG, I've tried a few and in my opinion they are the best by some distance, although they have increased their margin requirements of late for PI's. Having said that, they do keep asking me if I want to become a 'professional client' which apparently carries significant advantages in terms of the spread and margin rates, I shall have to have a chat with them and see exactly what this entails.
"You have already lost many customers..........You will in time lose another one." [SOI]
Apparently '70% of companies say its cheaper to retain a customer than acquire one'. Which presumably means 30% of companies believe the opposite....I guess iii is one of those. Which from a business perspective is absolutely crazy.....I would have thought having customers who are relatively wealthy and have the money to invest in extra services is good for a business....to unnecessarily annoy them and make them go elsewhere doesn't make good business sense to me.
Although insurers and utility companies seem to have the same ethos.
Clearly who ever doing the buying has got there time right and amount's right that they have brought 36m share without affecting the price. 6m a day although a lot clearly is not putting to much PRESSURE on the share price to rise as of yet. At some point it will start to show.
FIAT.......''I do not agree with your premise that the treatment of the Channel Isles and the Isle of Man makes a nonsense of EU policies on the integrity of the single market. These are very small islands and not at all comparable to the major economic entity that is the Uk including Northern Ireland.''
To paraphrase Christine Keeler....'Well you would, wouldn't you ?'
The EU stance on the Irish border is said to be a matter of principle, 'the integrity of the single market cannot be compromised', except, of course, when it suits them !
"....provides for their treatment as if they were within the customs union for the free movement of industrial goods and agricultural produce, and for equal treatment of all Union citizens within their jurisdictions. However, EU legislation in many other areas such as the free movement of people and services, competition and taxation policies, and the operation of the structural funds does not apply in the Channel Islands or Isle of Man. Nor are they represented in the European Parliament. (As a result of these arrangements, Jersey and Guernsey have chosen not to introduce value-added tax (VAT), with the former levying a domestic sales tax of three per cent and the latter none at all)."
ULB, you've solved the B-thingy......have you thought of telling Dicky Davis. 'In' the CU but not 'In', some of the benefits but without the hassle. Why don't we 'just' annex ourselves to the Isle of Man....a sort of reverse takeover. Or call ourselves an 'undiscovered' Channel Island.....a very large Channel Island....called 'Britannica' perhaps.
I do not agree with your premise that the treatment of the Channel Isles and the Isle of Man makes a nonsense of EU policies on the integrity of the single market. These are very small islands and not at all comparable to the major economic entity that is the Uk including Northern Ireland.
FIAT...''They are Crown Dependencies and as such they are within the EU customs union''
Actually frog, they are not, but are treated AS IF THEY WERE for certain, limited activities.........................
Unlike Gibraltar, the Channel Islands and Isle of Man are not part of the territory of the European Union. However, Protocol 3 of the United Kingdoms 1972 treaty of accession provides for their treatment as if they were within the customs union for the free movement of industrial goods and agricultural produce, and for equal treatment of all Union citizens within their jurisdictions. However, EU legislation in many other areas such as the free movement of people and services, competition and taxation policies, and the operation of the structural funds does not apply in the Channel Islands or Isle of Man. Nor are they represented in the European Parliament. (As a result of these arrangements, Jersey and Guernsey have chosen not to introduce value-added tax (VAT), with the former levying a domestic sales tax of three per cent and the latter none at all).
Which rather makes a nonsense of the EU stance regarding the so called 'integrity of the single market'..ie no free movement of goods without free movement of people !
"the arrangement of one's financial affairs to minimize tax liability within the law."
Well of course nobody on this board would be guilty of that now would they!
I have put savings in my wife's name to utilise her full allowance (I'm sure the opposite applies too before I get jumped on by the 2 main female contributers on here)
I have an ISA.
I have a trust setup for my children when I pass on.
Plus a few more too and all of which are arranged to limit tax liabilities within the law.
So I don't disagree with what big corporations are up to, let's just hope when the laws are changed we don't end up being worse off than we are now as companies and corporations seek to find new ways to avoid tax that hits the workforce, unemployment levels, etc.
There will always be countries trying to do deals that's for sure. As we all know Jean Claude Drunkard is top of the chart and epitomises how wonderfully honest and corruption free the EU really is electing such an honest gentleman to serve the people of 28 countries.
Makes what's going on in the UK look like the fourth division stuff after what he has achieved - all within the law of course.
Temperature been in the high 60s low 70s for a few days out here now but on the rise again-only 2 weeks left and back to watching Banging Britain Corporation news. Thank heaven I don't have to pay - all within the law of course.
FOX news is great, ain't that so DJ!!
"My wife has a habit of staying up until two o'clock in the morning. I can't break her of it."
"What on earth is she doin' at that time?
"Waitin' for me to come home!"
Murphy told Quinn that his wife was driving him to drink. Quinn thinks that he's very lucky because his wife makes him walk!
Take care all soon be summer!
Oh come on K this is more Remainer nonsense why not use the mean or the mode if you are going to fiddle with statistics and averages
Why not use a longer time frame its the same as those economists who have to work out twenty year stats to make it sound like growth wont be enough
The rate just before Brexit was 145 ish to the dollar as I was in Vegas at the time
The rate a few weeks ago was 145 rates now 139 rates go up and down please stop trying to say otherwise current 139 ish
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