In November 2005, American Express announced an agreement with TD Waterhouse regarding the provision of retail brokerage services for customers of American Express Investments.
Under this agreement the majority of American Express Investments accounts were transferred to TD Waterhouse during March 2006
Background to Sharepeople......
American Express Sharepeople is the umbrella marketing name for Sharepeople Limited which became one of the American Express group companies following an acquisition in January 2001.
Sharepeople brings together the innovations and market expertise of the retail broking industry with one of the most respected and recognisable service brands in the world. American Express Sharepeople utilise the strengths of its parent brand along with the experience and knowledge of the Sharepeople team to continue to offer a broad range of investment services aimed at empowering and educating the private investor.
Sharepeople offers access to a wide range of UK, US, and European securities, via the LSE, NYSE, NASDAQ, AMEX, Jiway and Nasdaq Europe markets in a choice of settlement currencies including Sterling, US Dollars, Euros and other European currencies.
Sharepeople customers enjoy real-time prices on over 2000 LSE securities, the ability to place ‘fill or kill’ limit orders, trade in multiple currencies, receive e-mail and SMS alerts.
Reminder : These services were transferred to TD Waterhouse in November 2005. Check any changes in old Sharepeople accounts at TD Waterhouse
Questions to consider if you wish to open an online shares account
Dealing costs The actual cost of placing an individual buy/sell order. There is stamp duty also at the prevailing rate but only on buys. Allways check that cheap dealing offers dont have high admin charges.
Admin charges Normally charged quarterly. When calculating real cost look at number of deals likely per year and then add in this admin cost.
Transfer costs Check costs to transfer in and out shares, share certificates and other charges must also be considered when evaluating costs.
Online or telephone dealing Nearly all brokers now offer some form of Online dealing with telephone as optional back-up. Some Online systems have some human interface and others are 100% automated.
Holding share certificates Outside of accounts avoids admin charges. Ok if you are likely to be a long term share holder (years not months).
Broker support How much info can the broker offer you? Will he offer advice and recommendations or is his service completely without support.
Broker speciality Information Some will offer Real-time share prices, trades information, news and feedback direct from the trading floor, live market data.
TD Waterhouse online stockbrokers incorporating American Express share dealing accounts since Nov 2005. Sharepeople American Express transferred share trading accounts to TD Waterhouse online stock brokers in Nov 2005. TD Waterhouse now supply retail brokerage and share dealing services for customers of American Express Investments. American Express share trading accounts now transferred to TD Waterhouse stock brokers.