Replacement for Campbell O’Connor

davyselect

Registered User
Messages
31
I am interested to hear how the DavySelect trading Platform works in practice.

Let's stick with Laramies example above of buying 5000 GSK shares.

When I want to buy these can I see the "live" trading price of the share. This share can have a 30p range per day. Do I simply purchase these shares myself at the "live" price or do I leave an instruction with DavySelect to purchase 5000 GSK shares? If so how can I be happy that DavySelect are getting me the best price.

For example. When I did business with Campbell O'Connor, I was watching the live trades online. I would ring Ken and he would get the price I wanted there and then. I could immediately see my trade online within seconds of giving the instruction over the phone. There was nil charge for this service.

Back in the day when I did some trading with Bloxham, you phoned them and they would wander off and make the purchase. In between giving the instruction the share price could have changed by several pence. I don't want to go back to those days ever again.
Hi Laramie,

All Irish and UK stocks are traded at live prices on the platform. Trades for other markets are done by limit order.

Best regards
davyselect
 

davyselect

Registered User
Messages
31
So I made my decision.

I had shares in Ryanair in my Crest account and Campbell O'Connor has converted them to share certs.

I had shares in Renishaw in my Crest account, and Campbell O'Connor has converted most of them to share certs. I have kept a few in my Crest Account as I will be selling them over the next year.

I am left with German shares and the Wisdom Tree ETF in my Crest Account.

I opened an account with Davy Select.ie yesterday.

I chose them because I am a long time holder of these shares, so the higher transaction costs aren't that significant.

I could not find out who is behind DeGiro and as it's my long-term savings/pensions couldn't afford anything to go wrong. Maybe it's a false sense of security preferring Davys, an Irish company or partnership.

The other big advantage of Davys is that when I go to sell my share certs, they will do it for me. DeGiro wouldn't. I could have opened two accounts, but I like to keep my affairs as simple as possible.

Opening an account with DavySelect was very straightforward. Only problem was that they texted me a code which I did not get because I had put my phone number without the 353 in it on the form. I suggested to them that they should change this to make it obvious.

I will probably sell my online holdings over time although this would result in a less diversified portfolio.

Brendan
Hi Brendan,

Thank you for choosing davyselect. We would welcome any feedback you have on the client experience. We have passed your feedback on the phone number to the digital onboarding team who will correct this as soon as possible.

Best regards
davyselect
 

Dazed&Confused2

New Member
Messages
1
Thanks Brendan......I'm coming to this v late so the advice re share certs has been v useful.
Any guidance on ETFs? I've about 62k in Ishares. I'd be keen not to liquidate them so am looking for a cheap broker as I am not an active trader. You had mentioned Davyselect........any other ideas?
Also can I use a stockbroker based in Northern Ireland?
Cheers, DC2
 

Laramie

Frequent Poster
Messages
384
If I have 5 share certificates (5 x €5k). Do you count this as basically one lodgment of share certs or as 5 separate certs and will I be charged a fee?
Hi DavySelect,

Can you answer the above question please? Thanks.
 

Laramie

Frequent Poster
Messages
384
All Irish and UK stocks are traded at live prices on the platform. Trades for other markets are done by limit order.
Do I do the trades by pressing a "buy" button or does someone do it for me? Can you describe how it works in practice?

Can you just expand on your answers please.....
 

davyselect

Registered User
Messages
31
Do I do the trades by pressing a "buy" button or does someone do it for me? Can you describe how it works in practice?

Can you just expand on your answers please.....
Hi Laramie,

When placing a buy or sell order for UK/Ireland stocks on the online platform, you will be given the option of requesting a quote or placing a limit order. If you wish to trade at the live price you should request a quote. You will be presented with a live price which is valid for 10 seconds.

In the customer services section of the Davy Select website you will see a video called "How to trade Shares, Funds and ETFs". This gives a lot more detail on the trading platform including demos of how it works in practice.

Best regards
davyselect
 

Laramie

Frequent Poster
Messages
384
If I purchase £75k of GSK in certificate form to hold. What will my costs be and will there be ongoing yearly costs associated with having opened an account with you to buy these in the first place.
Basically if I don't close my account after the initial purchase will I be charged an ongoing account maintenance fee?
 

davyselect

Registered User
Messages
31
Basically if I don't close my account after the initial purchase will I be charged an ongoing account maintenance fee?
Hi Laramie,

Yes you will. The fee is €50 per quarter. The fee is reduced by the value of any commissions incurred during the quarter.

Best regards
davyselect
 

Pieface

Registered User
Messages
39
Hi,
Found out 2 days ago that Campbell O'Connor won't transfer my portfolio to Degiro. It takes too long they said. (Their letter said that we have until 10th of June but they are not abiding by their own instructions). So now I am looking into Davy Select. I would appreciate some advice. I have 2 shares amounting to around €50k in total. If I were to transfer to Davy, how much would my fees be. I think I will have them transferred out to Degiro very soon after. I don't trade.
Thank you.
 

ballyb100

Frequent Poster
Messages
19
Hi all,
re paper share certificates which many people like.
“EU rules will ban paper certs throughout Europe from 2023 in order to speed up stock market trading” Sunday Times 12-05-2019.
So are share certificates on the way out anyway?
 

Laramie

Frequent Poster
Messages
384
I am just wondering how selling shares held in certificate format are dealt with by DavySelect.

Let's say I want to sell 5000 shares and I have a certificate for 5000 shares. Are these sold on a T+3 or a T+10 basis or similar?

In other words I complete the transaction online. If I sell on a T+3 basis I get paid after 3 days. If I sell on a T+10 basis I get paid after 10 days.

Do I have an option to choose the settlement date? With Campbell O'Connor I had a choice. Sometimes by choosing a longer settlement I was able to get a slightly better price.

My concerns are. I will need to sign a transfer form and get the physical share certificate in to DavySelect. I live in Dublin so I can drop this in by hand. However someone living in the country might have to post their Share Cert.

Can someone from DavySelect let us know the step by step process and advise us about settlement dates etc? Thanks
 

Brendan Burgess

Founder
Messages
38,427
For most long-term buy and hold investors T+10 would not be an issue.

They told me that to sell shares held in share certs, I would have to send the shares in to them and they would convert them to online shares and then sell them.

Brendan
 

Laramie

Frequent Poster
Messages
384
They told me that to sell shares held in share certs, I would have to send the shares in to them and they would convert them to online shares and then sell them.
Thanks Brendan. My concern is the length of time it takes to convert the certificate shares to online shares. Does this take minutes or hours or days?

The reason I say this is because I am a medium term holder of shares. I hold about 6000 of a specific share. I keep them for the dividend but in between dividend dates, I will maybe buy and sell them once.

They had increased in value by 70p per share over a week recently. Profit before costs €4200. I thought that I might take my profit.

Then in the space of a day they dropped by 35p and then a further 12p the next day. This amount was effectively the "profit" element. The balance was the costs associated with buying and selling.

I could phone Campbell O'Connor and give an immediate sell order and get the live price without having to convert my certificate shares to online shares. I could have secured my €4200 profit. The paperwork would be dealt with over the following days.

It seems with DavySelect I cannot do this? By the time I hop on a bus and drop the certificates in to DavySelect, by the time they convert them to online shares the share price could have changed dramatically. I don't understand why they cannot allow me to secure a live price and then deal with the paperwork over the T+10 time frame?

Any thoughts?
 

Brendan Burgess

Founder
Messages
38,427
The reason I say this is because I am a medium term holder of shares. I hold about 6000 of a specific share. I keep them for the dividend but in between dividend dates, I will maybe buy and sell them once.

They had increased in value by 70p per share over a week recently. Profit before costs €4200. I thought that I might take my profit.
Then you should not have share certificates at all.

If you are trading in and out of shares, then go with one of the much cheaper brokers. The 0.5% commission on buying and selling will significantly reduce your profits or, more likely, increase your losses.

Brendan
 

Tintagel

Frequent Poster
Messages
390
When you hold shares in a Crest account, are your dividends posted to you or are they credited to your account?
 

PMU

Frequent Poster
Messages
966
I have some ETFs in a Crest a/c and the distributions are credited to the a/c.
 

OhBeee

New Member
Messages
1
I have shares in a US company that I transferred to COC from Mercers in March and now obvs have to transfer again, approx. €38k and the easy option seems to be Cantor Fitzgerald. Not planning on buying or selling for now, just need a holding account. Unf my knowledge of brokers etc is very limited, does anyone have experience with them? Thanks
 

Tintagel

Frequent Poster
Messages
390
Hi Laramie,

Yes you will. The fee is €50 per quarter. The fee is reduced by the value of any commissions incurred during the quarter.

Best regards
davyselect
Is the fee charged on a specific date. Such as January, April, July, October or on the anniversary of when you opened the account?
 
Top