Replacement for Campbell O’Connor

Tintagel

Frequent Poster
Messages
408
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?
 

Brendan Burgess

Founder
Messages
40,565
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
You will need to read the thread to get the information you need.

Cantor Fitzgerald charge very high fees just for keeping the account open.

DavySelect will charge you €200 a year.

I am going with Davy Select and explain my reasons here:

Brendan
 

huskerdu

Frequent Poster
Messages
2,186
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
You have left it very late to set up an account with a different broker and transfer the share.
COC have to have all transfers complete on June 10th. You might not have a lot of choice but to transfer to Cantor Fitzgerald for the moment and then consider another move.
 

davyselect

Registered User
Messages
37
Is the fee charged on a specific date. Such as January, April, July, October or on the anniversary of when you opened the account?
Hi Tintagel,

Yes the fee is charged in early January, April, July and October.

Best regards
davyselect
 

Laramie

Frequent Poster
Messages
402
Hi Davy Select,

Thanks for coming on to the forum. I wonder could you answer my post 53 above? Thanks
 

WaterWater

Frequent Poster
Messages
391
We understand that some clients prefer to hold share certs and we are very happy to accommodate trading in same. We would point out that there is no extra charge to hold these shares on your account and have them available for immediate sale if you so wish.
I am confused by this statement. Do you actually hold the physical share certs for the client? When you say you can sell them immediately....earlier you said that it takes 2/3 days to lodge these to your account.....not really immediately.....
 

WaterWater

Frequent Poster
Messages
391
I forgot to add to my above question. If I want to open an account with my share cert.....can I drop in to DavySelect and meet someone off the street or do I have to make an appointment?
 

Eeyore

Frequent Poster
Messages
129
Have been using them for the last 6 six years. If you're looking for a low cost online broker they're great.
 

davyselect

Registered User
Messages
37
I am confused by this statement. Do you actually hold the physical share certs for the client? When you say you can sell them immediately....earlier you said that it takes 2/3 days to lodge these to your account.....not really immediately.....
Hi Water Water,

Sorry for the delay in responding and if we were not clear in our original post. We do not hold physical share certs for clients. However, clients can opt to have their share certs lodged and held in electronic format on their accounts. When the shares are held electronically on your account they can be sold immediately. Davy Select are open from 08.30am to 5.30pm Monday to Friday at our offices at 49 Dawson Street, Dublin 2. There is no need to make an appointment to meet a member of the team. You can drop in with your share cert and complete the account opening information there and then.

Please let us know if you have any other questions

Best regards
davyselect
 

TrundleAlong

Frequent Poster
Messages
82
Davy Select. Can you answer my question above....Post 70.

There may be a few other questions that you missed also.

Thanks
 

Grizzly

Frequent Poster
Messages
804
Once a sale has been completed (online or phone), the standard market settlement period (typically T+2) will apply. Clients do not have the option of choosing the settlement date.
OK. I sell in the morning on a T+2 basis. That afternoon the share price drops and I need to buy these again or some other share. Can I purchase immediately or do I have to wait until you receive my fund from the sale?
 

IsleOfMan

Frequent Poster
Messages
754
Unfortunately when Davy Select sell your Sterling shares they convert this to Euro in your account BUT they do not show you the rate of exchange they used to make this conversion. They only say it was the rate of exchange that was applicable on the day. Your account should clearly show the rate used because when you need to do another trade in Sterling, you will have to factor in the exchange rate used.

Campbell O'Connor always showed the rate of exchange they used when they converted Sterling to Euro.
 

BOXtheFOX

Frequent Poster
Messages
843
Unfortunately when Davy Select sell your Sterling shares they convert this to Euro in your account BUT they do not show you the rate of exchange they used to make this conversion. They only say it was the rate of exchange that was applicable on the day. Your account should clearly show the rate used because when you need to do another trade in Sterling, you will have to factor in the exchange rate used.

Campbell O'Connor always showed the rate of exchange they used when they converted Sterling to Euro.
You would imagine that Davy Stockbrokers would have the latest technology on their trading platform.

When you did a trade with Campbell O'Connor, on your contract note, you were shown the exact time of your trade (with Davy you are only shown the date of the trade).
Campbell O'Connor also showed you the exact purchase price that you received to 6 decimal points. For example you might have received a price for Tesco at £2.37625. On the Davy platform they just show £2.37.

I agree that if you have a Sterling or US Dollar portfolio that is expressed in Euro in your account, they should display the rate of exchange used to value your portfolio.
 

Kimmagegirl

Frequent Poster
Messages
245
When dealing with Davy Select can I have my account in Sterling?

If I want to do some trades on the FTSE 100. Buying and Selling, it would be convenient to keep my holdings in Sterling. Otherwise I have to deal through Euro. This would mean a bid/offer currency spread every time I need to buy and sell a share listed in Sterling.

The retail banks have a bid/offer spread of up to 5 pence. Would this be the same spread that Davy would use?
 

davyselect

Registered User
Messages
37
OK. I sell in the morning on a T+2 basis. That afternoon the share price drops and I need to buy these again or some other share. Can I purchase immediately or do I have to wait until you receive my fund from the sale?
Hi Grizzly,

Sorry for not responding sooner. You do not need to wait until settlement date to re-invest the funds. As soon as a sale of shares is contracted (usually within a few minutes) the proceeds will be available to re-invest.

Please let us know if you have any further questions

Best regards
davyselect
 

davyselect

Registered User
Messages
37
You would imagine that Davy Stockbrokers would have the latest technology on their trading platform.

When you did a trade with Campbell O'Connor, on your contract note, you were shown the exact time of your trade (with Davy you are only shown the date of the trade).
Campbell O'Connor also showed you the exact purchase price that you received to 6 decimal points. For example you might have received a price for Tesco at £2.37625. On the Davy platform they just show £2.37.

I agree that if you have a Sterling or US Dollar portfolio that is expressed in Euro in your account, they should display the rate of exchange used to value your portfolio.
Hi BOXtheFOX,

Sorry for the delay in responding. The exact time of your trade is displayed on the Davy Select contract note. It is just to the left of the trade quantity. The contract note also shows the price to 4 decimal places.

It may be that you are looking at the transaction statements page rather than the contract note. The transaction statement page shows the trade date but not the trade time. It also only shows the price to 2 decimal places.

If there are non Euro holdings in a Euro account the exchange rates used in the valuation can be found on the bottom left of the Valuations tab - “View Exchange Rates”. If all the assests held on the account are Euro assets this option does not appear on the tab.

Please let us know if you have any further questions

Best regards
davyselect
 

davyselect

Registered User
Messages
37
Unfortunately when Davy Select sell your Sterling shares they convert this to Euro in your account BUT they do not show you the rate of exchange they used to make this conversion. They only say it was the rate of exchange that was applicable on the day. Your account should clearly show the rate used because when you need to do another trade in Sterling, you will have to factor in the exchange rate used.

Campbell O'Connor always showed the rate of exchange they used when they converted Sterling to Euro.
Hi IsleOfMan,

You will find the exchange rate on the bottom left hand corner of the contract note.

Please let us know if you have any further questions

Best regards
davyselect
 
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