What is the difference between an investment manager and stockbroker?
A stockbroker is often referred to as an execution-only stockbroker. The term execution-only describes the placing of investments whereby you have chosen not to receive any advice and know exactly what investments you want to buy and sell and when you want to do it. ‘Stockbroker’ is a term for firms who offer this service.
Investment managers provide a service whereby you appoint them to manage your money for you. In this scenario you pay to access their expertise and they will buy and sell investments on your behalf, using their own discretion and based on what you tell them about your objectives and attitude to risk.
Appointing a stockbroker on your Modular iPlan
Through the Modular iPlan we offer access to two stockbroking services.
Selftrade can be used on all Modular iPlan products. Stocktrade also offer a stockbroker service and are available for the Modular iSIPP but cannot be appointed on the Modular GIA or Modular ISA.
Click on either of the companies below to display more information. All statements have been provided by the companies. James Hay has published these in good faith and accept no liability for their accuracy.
Selftrade is a trading name of Equiniti Financial Services Limited, part of the Equiniti Group.
The following are just some of the features you can expect from your Selftrade share dealing account:
- A wide variety of investments
- The ability to place at best and limit orders online or by telephone
- View a full statement history outlining your dealing history and money movements
- View your portfolio value
- Read and respond to secure messages relating to your share dealing account, including electronic contract notes
Selftrade will apply the following specially negotiated charges for James Hay Partnership customers:
|Dealing Fee||£15 / transaction
and online trades)
|£15 / transaction
and online trades. First
20 transactions per
These exclusively negotiated terms with Selftrade for James Hay Partnership clients are available on the Modular iPlan and Wrap.
Please note you will need to complete the Selftrade Third Party Regulatory Details form in addition to your application form to authorise your financial adviser, or other third party, to act on your behalf.
*Ordinarily the charge for using the Selftrade service is part of your Monthly Transaction charge levied on the James Hay Wrap. However, if you make more than 20 Wrap sharedealing transactions in a year, the £15 per transaction, dealing fee will apply. You / Your Financial Adviser will be notified if this applies.
Stocktrade, based in Edinburgh, is the execution-only division of Alliance Trust Savings.
As an execution-only broker, Stocktrade does not offer investment advice but instead deals and settles transactions for investors who make their own investment decisions.
Stocktrade has been establishing new standards in stockbroking and customer service since 1993. Stocktrade's unique combination of established stockbroking heritage and the latest service delivery techniques allows Stocktrade to provide quality low-cost services for all of its customers.
Stocktrade offers a wide range of services and products to a diverse range of clients, including individuals, institutions, quoted companies, fund managers, financial advisors and banks.
For further information please select www.stocktrade.co.uk.
The value of investments can fall and you may get back less than you invested.
Appointing a third party under the Whole of Market module
You can appoint a different stockbroker or investment manager through the Whole of MarketA module offered by James Hay that allows investors to include funds and investment managers not offered within the James Hay Investment Centre. Module for £102 per annum.
Please note that firms will apply their own additional charges and they cannot be appointed on the Modular ISA.
Appointing a stockbroker or investment manager via other James Hay Products
You can appoint stockbrokers or investment managers to your product if the term and conditions offer this option. Please check your product terms and conditions and the product charges schedule for details of the costs involved.
Stockbroker and Investment Manager List
The following investment managers have agreed to James Hay’s terms and conditions. If an investment manager or stockbroker that you would like to use is not on the list, please contact us and we will liaise with the third party to ascertain if they are able to meet our requirements with a view to including them on this list. Please note that we will not be held liable for the investment manager’s, stockbroker’s or custodian’s actions.
|7IM Holdings Limited|
|Adam & Company Investment Management Ltd|
|AFH Independent Financial Services Limited|
|Albert E Sharp LLP|
|Alliance Trust Savings Limited|
|Andrews Gwynne LLP|
|Aubrey Capital Management Limited|
|Bordier & Cie (UK) plc|
|Brewin Dolphin Limited|
|BRI Wealth Management PLC|
|Brooks Macdonald Asset Management Limited|
|Canaccord Genuity Limited|
|Capel Court Plc (T/A Balkerne Asset Management)|
|Charles Stanley & Co Ltd|
|Church House Investments Limited|
|City Asset Management Plc|
|Close Asset Management Limited|
|Courtiers Investment Services Limited|
|Coutts & Company|
|Credo Capital PLC|
|Deutsche Asset Management (UK) Limited|
|EFG Private Bank Limited|
|European Investment Management Ltd|
|Fusion Wealth Limited|
|GAM London Limited|
|Gerrard Investment Management Limited|
|Hawksmoor Investment Management Ltd|
|HFMC Asset Management Limited|
|Hottinger Investment Management Limited|
|HSBC Private Bank (UK) Limited|
|Hurley Partners Limited|
|IG Markets Limited|
|Investec Wealth & Investment Limited|
|Investment Funds Direct Limited|
|J & E Davy|
|J M Finn & Co Ltd|
|James Brearley & Sons Limited|
|Jarvis Investment Management Limited|
|JLT Investment Management Limited|
|Killik & Co LLP|
|Kleinwort Benson Bank Ltd|
|Leodis Wealth Limited|
|LGT Vestra LLP|
|London & Capital|
|Maunby Investment Management Limited|
|Midas Investment Management Limited|
|Millbank Investment Managers Limited|
|Miller & Co|
|MPL Wealth Management Limited|
|Murray Asset Management UK Limited|
|Myddleton Croft Ltd|
|National Westminster Bank Plc|
|Netwealth Investments Limited|
|Northern Bank Limited|
|OCM Wealth Management Ltd|
|Odey Wealth Management (UK) Limited|
|Parmenion Capital Partners LLP|
|Pershing Securities Ltd|
|PFP Wealth Management LLP|
|Premier Clients LLP|
|Premier Fund Managers Limited|
|Quartet Capital Partners LLP|
|Quilter Cheviot Limited|
|Rathbone Investment Management Limited|
|Raymond James Investment Services Ltd|
|Rowan Dartington & Co Ltd|
|Sanlam Private Investments (UK) Ltd|
|Santander Asset Management UK Limited|
|Schroder Investment Management Ltd|
|SI Capital Ltd|
|Smith & Williamson Investment Services Limited|
|St Johns Asset Management Limited|
|Standard Life Wealth Limited|
|The Royal Bank of Scotland Plc|
|Thomas Grant & Co Ltd|
|Thomas Miller Wealth Management Limited|
|True Potential Investments LLP|
|Veritas Investment Management LLP|
|W H Ireland Limited|
|Walker Crips Stockbrokers Ltd|
|Wellian Investment Solutions Limited|
|Whitechurch Securities Limited|
|Wise Investments Ltd|
|Arbuthnot Latham & Co|
|Brewin Dolphin Securities Ltd|
|Church House Investments|
|Close Brothers Asset Management Ltd|
|Coutts & Co|
|Fusion Wealth Limited|
|Holden & Partners (using Pershing)|
|MPL Wealth Management Limited|
|R.J. O'Brien (UK) Limited|
|Raymond James - Bowmore Asset Management|
|Raymond James - Casterbridge Wealth Limited|
|Raymond James - Cavendish Ware Limited|
|Raymond James - Exeter|
|Raymond James - Fisher Asset Management LLC|
|Rowan Dartington & Co|
|Seven Investment Management LLP|
|Smith & Williamson Investment Management|
|Stanhope Capital LLP|
|TAM Asset Management|
|Tatton Investment Management|
|The Share Centre|
|Tilly Bailey & Irvine|
|Tilney Investment Management|
|TIML Limited - Raymond James|
|Whitechurch Securities Limited|
Points to consider
Choosing to invest through an investment manager or stockbroker may not be suitable for everyone and if you are in any doubt we recommend that you talk to a regulated financial adviser. If you do not have a financial adviser, you can visit www.unbiased.co.uk or call 0800 023 6868 which will provide you with a list of financial advisers local to your area.
You can also find useful and impartial information about pensions, savings and investments through the Money Advice Service. Please visit their website www.moneyadviceservice.org.uk for more information.
Capital At Risk Warning
The value of your investments is not guaranteed and can go down as well as up, and you may not get back the full amount you originally invested.