Davy Select changes/increases annual fee structure

rob oyle

Frequent Poster
Messages
585
Davy Select are changing their pricing structure from the start of 2019.

At the moment, all customers pay €20+VAT a quarter. From January, a maintenance fee of €50 will be charged for every quarter in which transaction fees do not hit €50. This will hit small shareholdings or any relatively inactive users.

This means a fee chargeable in any quarter in which the equivalent of c.€10,000 of shares are not bought and sold.

Time to shop around for any Davy Select users and see if it's still the most suitable platform for them.
 
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ddldub

New Member
Messages
1
I have shares with Davy and don't trade at all. I am just holding them long term and will be hit with a considerable increase. Is there a cheaper option or should I just ask them to issue a share cert and hold them myself?

I am currently paying 50-60 per year (can't remember the exact amount).
 

Aislingob

New Member
Messages
8
Degiro or withdrawal to certificate stock. However, to sell the latter, you'll need a broker willing to transact certificate stock. Some large companies may offer a nominee account through the registrar.
 

rob oyle

Frequent Poster
Messages
585
Just to point out on this one - it appears that ANY trading fees in a quarter with Davy will be deducted from the quarterly fee. Initially I had understood that unless transaction fees hit €50 in a quarter, the maintenance fee would be charged. It now appears that at least €50 will be charged a quarter but any trading fees would come off the maintenance fee (i.e. if you transact and are charged a fee of €20, your maintenance fee at the end of the quarter will be €30).
 

Gordon Gekko

Frequent Poster
Messages
3,655
Fair enough in my view. The charges are still low and businesses have to guard against people squatting on their platforms without paying for the privilege in a world where regulation etc is constantly increasing costs.
 

Susie2017

Frequent Poster
Messages
164
Just wondering what would be the best way to purchase shares in certificate form or is this possible ? The purchaser would be intending to hold the shares for many years and pass them on. Had a look at Davy but the costs seem high enough annually and are hard to follow and would likely erode any dividends.
 
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