Why Allow Brokerages To Be Fund Managers ?

Welcome to the discussion, SPC100.

It's usually big law firms like Fry and Cox who proclaim this nonsense about Chinese walls between their different divisions.

But, yes, the separation of functions will not separate the devils from their quarry.

I never believed the buy quotes given by bank brokers for plc shares - they always seemed ~ 10% off recent trade prices.

Even a few years ago the Central Banks had to squeeze up a few nuts and bolts on rounding procedure for loan repayment calculation. Before that the last digit could be rounded up, giving an extra 1c gain per repayment. With so many loans (mortgage, car, home improvement, computer, etc) going into the average household, it accumulated well for them until a CB rounding was enforced.

But these are much easier to deal with than the flagrant corruption and almost Louis XVI disregard for public opinion that we get from the "brokers" of the moment here . . .

Gordon Gekko said:

I have no connection with them, but if my Granny told me she’d just signed up as a client of Quilter, I’d be happy.

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Why Quilter, rather than any of the others? From this thread I get the impression that those who know the industry think Quilter are more trustworthy than the other DFM's, is this right?

Silvius said:

Why Quilter, rather than any of the others? From this thread I get the impression that those who know the industry think Quilter are more trustworthy than the other DFM's, is this right?

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That was more in response to Steven Barrett’s post and the replies to it. In reality, there are a good few places that you’d be happy enough with. Smith & Williamson, Davy under BOI, Brewin Dolphin, Julius Baer, Quilter, Sarasin (taken over I believe), Goodbody, etc. I’m more wary of banks flogging their own gear TBH!

Gordon Gekko said:

That was more in response to Steven Barrett’s post and the replies to it. In reality, there are a good few places that you’d be happy enough with. Smith & Williamson, Davy under BOI, Brewin Dolphin, Julius Baer, Quilter, Sarasin (taken over I believe), Goodbody, etc. I’m more wary of banks flogging their own gear TBH!

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Thanks. Yeah I'd be very wary of the banks! It's hard to know who to trust among the investment companies, Quilter seem to be unusual in that they require clients to be independently advised...maybe there's benefit in having an advisor as an intermediary to (hopefully) negotiate on the client's behalf and ensure the investments chosen are in their best interest. Assuming the advisor really is independent.