Using this broker I cannot buy any shares in Experian (EXPN) online and find this utterly remarkable as Experian is a FTE100 company worth over 5 billion!!!
For this reason I nominate HoodlessBrennan as the worst stockbroker of 2007.


Anyone wishing to complain against Hoodless Brennan should contact the financial-ombudsman: here

just tried an EXPN 30000 dummy deal with Barclays and no problem.
Dump HoodlessBrennan, join Barclays

At what buy-sell prices are they???

5.25.50p
5.26.00p

My vote for worst stockbroker of 2007 is also hoodless brennan.
Reason? Because they deduct stamp duty for companies which are stamp duty exempt.
Unbelievable?   Not so. In fact hb do this with over 30 such companies of which the main ones are:

FTSE100     Experian (EXPN)

FTSE250     Petrofac (PFC)
                Catlin (CGL)
                Colt (COLT)
                Hiscox (HSX)
                Partygaming (PRTY)
                Randgold (RRS)



To illustrate, here's a hoodless brennan proposed buy trade from this morning:


PETROFAC USD0.025 PFC
Buy
Number of Shares              2,500
Firm Price                       473.00

Total                       11,825.00
Plus Commission                6.50
Stamp Duty                    59.13
Ptm Levy                         1.00
Other Charges                  0.00
Total Consideration    11,891.63



Try and get that 59.13 stamp duty back and they'll most likely tell you it was never deducted.
That's what earns them my vote for worst broker.

Sounds illegal to deduct stamp duty from exempt stocks.

Where do you get the information on which Company Shares are SD Exempt??

http://www.moneyam.com/InvestorsRoom/posts.php?tid=11809#lastread

dai oldandrich has compiled this excellent thread SM. Flick back 3 or 4 pages on the board.

Thanks Stan, will have a look.

The stamp duty is no skin off their noses if they charge it or not, its not their money is it , its like VAT.

No, but it is most certainly important to someone who purchases shares which are stamp duty exempt!

If I buy 20,000 stamp duty exempt shares and get charged 100 stamp duty am I not entitled to make a complaint???

No, it isn't like VAT - it's more like theft.

If Hoodless Breenan are wrongfully deducting stamp duty then they are fully entitled to be classed 'Worst Broker of 2007' .

Can this broker get any worse ?????

Anyone wishing to complain against Hoodless Brennan should contact the financial-ombudsman: here

whats your beef onlinedealer ? give em a break - always 2 sides - challenge me please - you wil lose - remember its always easier to complain than praise

Thanks for giving me the opportunity of raising this matter again.
When a broker is deducting stamp duty for shares that are exempt from stamp duty they do not "deserve a break".
That's "my beef" and it will remain so until Hoodless Brennan correct what they are doing.
It's hard enough for traders to make a profit without wrongful deductions being made to transactions.

I bought a small amount of Experian shares through HB in May this year and wasn't charged any stamp duty so no issues with that.

queen1, yes it was possible to buy Experian upto about a month ago - then it just went off the radar. Can't buy Experian now from HB.

HB have a new site now. The old site didn't take stamp duty from the above listed stocks but the new site does. Shouldn't, but does.

i use HB and find their services more than adequate. they're cheap too. i have not tried to buy stamp-exempt shares so cannot pass comment on that side of things.
happy brokering
Alex

I also use HB and as an investor with limited finances I find their service perfectly acceptable and as has already been mentioned they're cheap. If HB are charging stamp duty for exempt stocks I'm sure there would be no issue for reimbursement as this certainly isnt in their best interests and illegal.

Robert and Ian, you are both missing the point - which is, they are charging stamp duty for stocks that are stamp duty exempt.
"reimbursement"?? They admitted the contract note said stamp duty was taken but said they hadn't taken it really. I know for a fact that they did!

It could well be that they are also taking it from the accounts of people who may not even know it is being done (are you aware of all stocks that are stamp duty exempt??).

They may be cheap - and most other brokers are too these days - but this is a perfect example of getting what you pay for. No way would I ever have this broker again. Cheap in this case most certainly does equal nasty!

do you all want to know the tips they have given me in 2 years...everyone turned out trash losing up to 80% in value...some went to the wall like Langbar...latest tip was Ashtead buy at 160p,,, D1 oil buy at 235p

fuckin chimp could pick better stocks

but then again they know full well what they are doing while they short it on the other phone

you know ..i could destroy them...but i won't just yet

Harry, If they denied that they had taken the stamp duty (although its on the contract note) I don't think it would be too difficult to prove otherwise with your bank statement. Regardless of what they tell you??

How about this from SELFTRADE:letter received out of the blue saying"we are unable to confirm your details against an electronic database......... send copy driving licence/passport/Tax Notification.........we require a reply within 14 days."
Then some blurb abt products followed by "we look forward to receiving the documentation from you.In the event you do not send us the required documentation WE Will LOCK YOUR ACCOUNT BY FEB 2008"
Now I dont expect to see the words "we regret/please accept our apologies" and some explanation why they were checking my account (which they gained thro takeover of Comdirect),.No, my main concern is that they have mislaid my records and now want another go,this is the age of the cyber crook and Identity Theft !! Anyone else had this experience?

The "electronic database" would be the voters roll, for money laundering purposes they are required to check your identity and address.

I bought some iShares from Hoodless Brennan today and was charged stamp duty when they should have been exempt. Rang them to query it, they said they couldn't see my trade because of computer problems caused by too much activity on Northern Rock and said they would call me back (they never did) and also tried to sell me the advisory service - declined of course and will avoid using this broker again.

Thanks for that Kayak,Im sure you are right but Im looking around. Ive been where I live for many years, also first paper letter out of comdirect file is a confirmation of some of the mentioned details now required. If they were on file in may 2005 where are my details now and how many others have Selftrade lost.?? Feeling uneasy on that account and wishing my account was large enough to justify the fuss! Mainly in cash as I have this Henny Penny thing abt the sky is abt to fall in(pre dates Rock) so this may be why they are boverred, thanks again.Pericles

oh and dont forget medsea estates down from 12p to 6p...broker said it would rise 70% from 12p

and raven properties down from 7p to 4p

i guess i'm not de-hooded

I withdrew a small amount of money from my account over a week ago and while it shows that in my dealing history it shows that it is still in there in another list.
I phoned them up and they confirmed that the money was still in my account and that they would activate my request on Monday, no one could say why there was a difference!

Can't be trusted to do a simple task let alone anything else.

On my experience HoodlessBrennan are definitely the worst broker on the market. Service is attrocious too - I'm still waiting for replies to emails sent a month ago.

Anyone able to buy Experian (EXPN) online with HB?

I don't think any of the shares they have tipped me have done anything but bomb.
The last one was Jarlway and that has lost over 50%.
They have cost me thousands.
The get out is of course " shares can go up as well as down ".

Not wishing to suggest some PI's are naive but it is possible share recommendations can be made when the brokers and investment houses have shares to sell.I am not suggesting for a moment that this type of activity is dishonest as for every buyer there has to be a seller.

cavman2, sorry to hear about your bad experiance. Seems the best tip is to ignore the tips!

Halifax, you are right and I personally wouldn't take tips from anyone.

As far as HB go, they are making a right cock-up of accounts with the new site they have just put in place. Stay well clear!!

my broker pissed off to germany...evidently he had a few after him

Another vote from me for the worst broker - Hoodless Brennan
If you have an account with them, switch out of it. I DID!


Stockbroker fined for pressure selling
Michael Clarke, This is Money
17 August 2006, 11:59am

STOCKBROKER Hoodless Brennan have been hit with a 90,000 fine for pressurising customers into buying shares.

The Financial Services Authority ruled that the company fell below regulatory standards when it sold shares in software Knowledge Technology Solutions in 2003.

It said the broker persuaded customers to buy the stock when they were not ready to do so and also persuaded them to buy more than they appeared to want.

Hoodless brokers also used information about a contract for KTS to supply the stockbroker with pricing technology software to persuade customers to buy the shares. The brokers suggested that the shares would rise if the contract deal was announced.

One broker persuaded a customer to buy 100,000 shares rather than the 50,000 that the customer had requested.

The customer's wishes were overridden by the broker, who said: 'They've already gone. I've taken them off the board.' The FSA said this implied that the deal had already gone through and it was too late for him to change his mind.

Margaret Cole, director of enforcement at the FSA said: 'Brokers at Hoodless Brennan used unacceptable selling practices and did not pay enough attention to the interests or the information needs of their customers.

'Nor did they take time to communicate with their customers in a way which was clear, fair and not misleading. The FSA will not tolerate this method of selling shares to private customers.'

The sales occurred in June and July in 2003 when the shares were priced at between 5p and 6p. Investors would have seen an initial surge in the value of their shares as they rocketed to a high of 16p in September of the same year, but they have since drifted down to their current level of 0.88p.

Hoodless Brennan hit back at the fine by claiming that only 13 customers were involved and none of them suffered a finance loss. It added that it independently investigated the case and worked closely with the FSA on the case.

Hoodless Brennan not only fined once but TWICE. Don't fall for their cheap 7 share trade. It's not worthwhile in the long run.



Hoodless fined 150k
Source: The Guardian, December 18, 2003, an Article by Jill Treanor

Stockbroker Hoodless Brennan has been fined 150,000 by the Financial Services Authority after the City watchdog found the firm issued a "false and misleading" statement to the market concerning one of its corporate clients, AIM-listed media group PrimeEnt.

Sean Blackwell, the broker's former chief executive, has been declared to be "not a fit and proper person" to work as an investment adviser - effectively a lifetime ban from the City - after a bungled attempt to support PrimeEnt's share price in March 2000, following a 2.5m share placing.

The FSA issued final notices on the matter yesterday after Mr Blackwell's appeal against disciplinary action failed.

Geoffrey Hoodless, the broker's former chairman, succeeded in his appeal and therefore may continue as an investment adviser.

The FSA said Hoodless Brennan had failed to provide regulators with "full and accurate" information following the share placing. It also "failed at the time to keep proper records, failed to supervise corporate broking staff and failed to follow proper compliance procedures," the FSA said.

The regulator said that the size of the fine reflected the fact that Hoodless Brennan was now under new management and had improved its internal controls.

what about stephen hsmith who was a director of hoodless and Ronsonplc...who i believe was maybe involved in the blatant shorting of Ronson and the organised message board attacks at advfn..he resigned shortly befofe Ronson got delisted with 8000 share holders wiped out by an Iranian jon boy called Rastegar...one of the biggest crooks on the planet imho...and the f****n FSA lets em get away with it...Ronson are still trading after Rastegar had promised they would be re-listed...****!

Ronson on Friday rejected a bid from board member and 30 per cent stakeholder Farzad Rastegar. Mr Rastegar block two subesquent offers from major intarnational companies, Ronson said. This led to a boardroom row and the resignation of two non-executives....very convenient!

Ronson - Written 29/11/2003; Contact: Tony Scutt (A. Scutt )

The Ronson Shareholder Action Group (RSAG) started up after the July2003 AGM for Ronson's 2002 results, and had promised a 2003 year of improving business, as confirmed by the CE's forward look in April. By May the Company was being less optimistic, new finance had not been found, a EEC embargo against their cheapie brand Oriental lighters was being threatened, and Farzad Rastegar (of Sunleigh fame/notoriety) and a 30% holder but unwilling to put any more money into Ronson, was suddenly in June announcing his intention to de-list the fully-listed shares, sell off the international trading/Ronson Trademark division and put the rest of the Group into receivership, and all without seeking any shareholder authorisation, nor giving any logical justification to shareholders. The turn-around was unbelievably sudden: no figures for 2003 trading whatsoever, a blanket of silence descended because of the "Offer Period" for the proposed sale (no takers found through to end October), and a voluntary liquidation foreseen for the rest of the Group if that sale went through. Many shareholders attending the AGM were only then to learn that their holding had plummeted to virtually nothing because the Listing Authority had ratified the de-listing approach (without requiring any form of shareholder approval), and de-listing was implemented days before the AGM took place!


Originally the Action Group struggled to reach a 10% share pledge level to be able to requisition an EGM which so far has been regularly spurned or denied by Rastegar, and he and the RSAG chairman are unable even to talk to one another as a result of some highly fruity exchanges and major character aspersions. The opening skirmishes have notably been over the news blanket that the diminished Board has imposed throughout: RSAG has given proof to Ronsons Registrars of its support being far in excess of the 10%. Rastegar tries to make out that no EGM should be held because of shortage of funds and refuses to recognise the leader of RSAG and to meet with him. The present deadlock is causing all sorts of bitter background enquiries and allegations. Meanwhile the termination of Ronson's lease of its Crawley head office has been newly announced this month, and Rastegar has transferred its activities to another company based in Ewell, under again a lack of any informative detail, and IT/accounting services transferred to another Rastegar company's based in Northants. This alone will show that major points of dispute and differences in ambitions and motivations are already causing alarming divisions between shareholders (8,500 in Ronson) and management, also racked by alleged conflicts of interest and managerial responsibilities, with Ronson possibly disintegrating while the haranguing drags on.

Hoodles a stockbroker? You learn something new everyday!!!!!!

Anyone got anything at all shady on hoodlessbrennan ???
Anything useful in a court of law.
Am looking to issue proceedings.
Thanks.
HP.

Harry,

Anything you can elaborate on?

Not just yet but will post all in due course.

edit

On Biffa this morning, Selftrade had been a on line size of 3750 both ways, and then chopped it to 750. Last stock I took up with them for doing this was indeed lightly traded - and to be fair they did show it as for telephone trading only (discovered after the size had been chopped!) but this one makes no sense, if - as someone stated- there were 12000 on the strip.

They always blame their supplier - the RSPs - but I suspect that other online brokers may get better service from the RSPs.

Others have commented that it seems to be a shortcoming of Selftrade. Also today their new look site is hopelessly sluggish. So by the fact that we can not make trades, they are losing revenue.

I also wonder if the presence of Plus markets aggravates the effect by diverting some trades.

Does Hoodless have these issues too?

City Equities are pretty bad too.... I now do my own picking of shares with good growth prospects, improving revenue and profits etc... rather than being conned into investing in lame ducks and duffers that HBP & CE are always pushing !

Me too, Skyhigh...I would be interested to know how many clients investing through CE have found the experience profitable.

I dont think Hoodless have many clients left, they make their money partaking
in the placings of dodgy stocks nobody else will touch, such is the love of very
low penny stocks for pump and dumpers they always get a helping hand in shifting it for great returns, in playwise they are selling stock for a 49% profit in just a
few days and there's always plenty more where that come from.
They dont care about their customers, try and get a email reply from them ?

would anyone care to mention which stocks City Equities and Hoodless Brennan are pushing when they are contacted?

It would serve as an alert for the rest of the board.

First you have to get a answer to the call !

Like most city bucket shop brokers if you are lucky enough to get a
answer they are extremely arrogant.

Have you ever wondered when you see a sale in a penny stock well
below the bid what has happened ?

This is 90% of the time Hoods ripping off their clients, if you want to
see what they are pushing then look at recent news on a penny stock
and check out who has took most of the placing stock, it's usually Hoods,
CE or Seymore Pierce, the whole penny market has become so crooked
over the last 2 years that nobody seems to give a feck who rips off who
when it comes to raising more funds to prop up some very poor companies.

i wanted to sell some shares in a mining stock due to spread bet margin call but hoodless couldn't deliver on time because according to a broker there they had lent out the stock to a third party...not too sure what bloody goes on regards this but the delay cost me about 3k in spread bets having to close to cover margin...they owe me bigtime...my broker fucked off to germany having pumper Langbar...i think he must have had threats