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.
Through the Modular iPlan we offer access to two services on our stockbroker and investment manager panel.
Selftrade provide a stockbroker service and can be used with no additional charges from James Hay Partnership, although Selftrade's own charges will apply. 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.
You can appoint a stockbroker or investment manager who is not on our panel 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 £100 per annum.
Please note that off panel firms will apply their own additional charges and they cannot be appointed on the Modular ISA.
Click on either of the companies below to display more information. All statements have been provided by the companies. James Hay Partnership 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.
Please note that from Tuesday 12 January Selftrade's phone number changed to 0333 207 6371. If you are phoning from abroad please call +44 121 415 0945.
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:
|Annual Management Fee||£0||£0|
|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.
*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.
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 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 Money Advice Service 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.