Abstracts » Business

Fidelity investors stuck in transit and...

Article Abstract:

There have been complaints about the way that Fidelity handled the closure of its brokerage division in the United Kingdom. Fidelity Brokerage Services recommended a single supplier, Barclays Stockbrokers, to a former customer, Brian Hammond, who found he could not deal because his account was trapped at Fidelity after dealing lines were shut down at the beginning of April 1998. Barclays did not confirm receipt of his details until May 14 1998. Fidelity admits that delays occurred and found that it could not implement its original timetable.

Fidelity Brokerage Services (United Kingdom)

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15,000 investors on a plate for Barclays

Article Abstract:

Fidelity Brokerage has selected an alternative stockbroker, Barclays Stockbrokers, which will take over after Fidelity ceases to take on broking business in Feb 1998. Fidelity will continue to offer a skeleton dealing service until April 5 1998. Fidelity clients do not have to move to Barclays, though they must inform Fidelity of their decision by Feb 28 1998. Rival brokers include Charles Schwab which is seeking to attract ex-Fidelity clients with a 30 pounds sterling cashback and no fees for the first quarter, if they meet deadlines.

Fidelity Brokerage Services Inc.

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Setting a new style

Article Abstract:

Henry Cooke Group is a UK stockbroker which is moving away from execution-only services and seeking to develop a more proactive relationship with clients. The company reported a pre-tax profit of 403,000 pounds sterling for 1st half 1995 to 1996 comapred with a loss for the previous year. The company's managing director is Martin Robinson who aims to balance institutional and corporate clients with private client business.

Henry Cooke Group

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