Barclays (BARC) launched a new investment platform last week, but traditional stockbroking customers have been angered at changes that have made the service more expensive for large share-only portfolios and have made it harder to deal more complex holdings. Frequent share dealers and those seeking more specialised investment tools may want to look to an alternative platform to cater to their needs.
Barclays moved 200,000 customers to its new Smart Investor service over the bank holiday weekend with assets of around £14bn. The shift was designed to appeal to a broader customer base and benefit buy-and-hold fund investors and less sophisticated customers. However the move was met with anger by many of its customers, who did not approve of the changes and suffered a raft of issues with the new site, including difficulty logging in, missing transactions and inconsistent stock pricing.
Barclay has said it is working on those issues, but many customers are still keen to leave due to the range of services Barclays no longer provides.