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AJ Bell to Float? (IPO)     

Stan - 24 Sep 2018 20:22

They are seriously thinking of floating on the main market at the end of the year or early next year as people on here probably know unusually giving private investors first crack, obviously we will have to wait for the prospectus before deciding on anything.

I don’t usually bother with IPOs nowadays but as I am a customer I might be interested this time.

Anyone got any thoughts on the the subject?

skinny - 25 Sep 2018 14:12 - 2 of 20

I'm not a customer Stan, but I've been a customer of these for over 30 years - I didn't take them up at the float!!!


CC - 25 Sep 2018 15:15 - 3 of 20

I have my SIPP's with AJBell and my ISA's and normal share account with HL.

I am in two minds over the IPO.

I think the days of £10 and £12 a trade for both are limited. More worrying perhaps is the charges for holding funds.

On the other hand I do see strong volume growth continuing.

I'm not sure what to do, which means probably nothing.

Bones - 29 Nov 2018 17:29 - 4 of 20


CC - 30 Nov 2018 08:11 - 5 of 20

I have been asked to post this here

Does anyone have any views on AJ Bell/YouInvest? I'm thinking of moving to HL

Currently I have 2 accounts with AJ Bell (SIPPs) and 3 with Hargreaves Lansdown (ISA and Trading)

I'm a bit frustrated with AJ Bell tbh. The headline price per trade is £2 cheaper and the SIPP charge £80 per year but I find their trade execution frustrating. Now £2 per trade and £80 per year would suggest that I could put up with a bit of inferior trade execution but I've reached the point that I don't think that's enough.

If I want to trade highly liquid FTSE100, there isn't any difference, so might as well take the £2 saving
If I trade stocks down the lower end of the FTSE250 particularly if the daily volume is low compared with the market cap, HL beat AJ Bell by a long way. Earlier in the year I had particular problems with SBRE where HL gave me a great price inside the spread for volume over that on the book, yet when I went to sell roughly the same amount with AJ Bell a few hours later I couldn't even get an on-line quote even though there was more volume on the book than I wanted to sell. They wouldn't even execute a limit bid with sufficient volume on the book within 15 minutes. Even phone dealing with sufficient volume on the book took two phone calls and 20 minutes, although by the time they actually filled me, they did give me a surprisingly good price.

I have had the same problem any number of times with CTO, which has a market cap of £35m. HL will happily give me a quote generally aligned to what's on the order book (sometimes much better if there's hidden icebergs) whilst AJ Bell often restrict their quotes to low volumes.

It seems to me AJBell are using far less MarketMakers than HL. Sometimes it doesn't matter as whoever AJB Bell use are the dominant MM at the time, at other times it's a mare.

Anyone want to dissuade me from moving or suggest an alternative?

CC - 30 Nov 2018 08:21 - 6 of 20

I have decided I am very unlikely to take part in the IPO for AJ Bell.

There is huge growth potential in AJ Bell's market (volume) but I'm also of the opinion that margins are going to come under pressure. The prices charged for holding funds seem unacceptable to me (albeit they are far lower than some of the competition) .

They are also articles in the press about unreasonable exit charges from one provider to another. (How can it cost £25 per line of stock to transfer? How ridiculous). If the government get their teeth into this I think AJ Bell will be a loser.

It is my guess AJ Bell are bringing this to market at the top of the margin cycle and they know it.

0rient - 05 Dec 2018 21:23 - 7 of 20

Have to disagree with these comments. I've been a AJ Bell customer for a few years now and have found them excellent for trade execution with the lower volume stocks & in decent amounts too. You put a limit price in with them and the majority of time my trade has been filled by the end of day.
I've been around years investing & day trading and have had accounts with most of the big brokers and i do like how efficient & clear AJ Bell are.
I've put my money where my mouth is and have applied for as much as i can in the interesting to see what % i get!
Have a look back at some of the old Hargreaves Lansdown threads on various discussion platforms when they first came onto the market..they were getting the same questions/responses asked of them back then with not much belief & just look at them now! What an investment that would have been!!
Not saying AJ Bell will show the same 2000% gain like Hargreaves Lansdown has done but with us all living longer & younger investors taking control of their own finances I reckon AJ Bell SIPP's will be on a strong growth line for a long time to come 👍🏻👍🏻

skinny - 06 Dec 2018 08:43 - 8 of 20

Yes - see my post 2 :-(

Stan - 06 Dec 2018 14:59 - 9 of 20

The IPO is out is it 0rient?well they didn't tell me and i'm sure I asked to be notified when it was available!

dreamcatcher - 06 Dec 2018 15:04 - 10 of 20

Closed yesterday Stan Wed, 05/12/2018 - 17:00

Stan - 06 Dec 2018 15:10 - 11 of 20

I'm not having that D/C I'm sure I registered to be notified, will deal with it later.

dreamcatcher - 06 Dec 2018 15:23 - 12 of 20

I'm only the messenger. lol You sort them out Stan :-))

Stan - 06 Dec 2018 16:14 - 13 of 20

Leave it to me D/C -):

dreamcatcher - 07 Dec 2018 07:05 - 14 of 20

Offer price

0rient - 07 Dec 2018 07:11 - 15 of 20

Massively oversubscribed..i only got 1/10th of what i applied for! That's very disappointing for me but shows how much demand there's going to be for them. Will see if i can pick some up on the open market at a decent price 👍🏻

0rient - 07 Dec 2018 07:19 - 16 of 20

Although the wife has told us she has been given given 40 % of what she applied for!! Not sure why the difference preferences between account holders, unless there was a cap on the maximum amount given?

CC - 07 Dec 2018 09:29 - 17 of 20

Great trade

Stan - 07 Dec 2018 11:03 - 18 of 20

Given 0rient's rather strange allocations and me not even being contacted + the sharp jump at the off I wonder if there was something fishy going on..we shall see!

Stan - 13 Dec 2018 11:09 - 19 of 20

Share purchase

Stan - 20 Dec 2018 16:17 - 20 of 20

CEO transfers shares
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