I had quite sizable holding of Avanti Capital shares held in Comdirect nominee account before the share consolidation took place last Friday. Unfortunately, when the market open on Friday 24th Oct I was not able to sell my holding due to the fact that Comdirect has not been allocated the new shares in my account. Consequently I suffered as the bid price dropped from 1.75 to 1.45 when Comdirectly finally alotted the shares which enable me to sell.

Anyone out there suffer in the same way? If so, are you claiming compensation from Comdirect?

I'd check the terms and conditions of holding an online account with Comdirect as they give a direct warning against things like this usually.

I'd say it would be very hard to claim anything from them. Best to give them a call and speak meaningfully to someone there without getting irate or upset.

Good luck

Thanks for your message Gary k. I have spoken to their customer services but no joy. Have written to their compliance people again no joy. Will be writing to the Financial Ombudsman in the morning.

ticker,

Good luck!

I wasn't impressed with Comdirect's handling of a dispute I had with them, so the ombudsman may well be your only option, IMHO.

I found Comdirect arrogant, and not willing to listen to the customer's position at all.

As gary k says, I would check the terms and conditions first though, and remain calm and polite at all times.

otherwise, the only remedy is to vote with your feet, and find another online broker. I have opeed an account with TDW, and only fund this account as I play out my Comdirect positions.

Thanks Andy for your sound advice.

Throughout my conversations with their customer services people I have been very patient and polite (but still did not get me anywhere!). I have started the formal complaint process with the Ombudsman.

What I don't understand is that if TDwaterhouse was allocated with the new share for Avanti on time then why would it take Crest one working day late allocating to Comdirect?

Wish me luck with the Ombudsman! I really can do with the recovery of the loss made due to not able to sell the stock!

I suggest you get in touch with the Financial Ombudsman immediately.

The only complaint I have about comdirect is that if you transfer money into the account it takes 4 days to get there instead of 3, but worse than that is that after leaving comdirect account, it can take 5 days for cash to be returned to your bank account. (As I discovered, when I decided to move some money from my comdirect account via my bank account to another broker. The cheque was presented 2 days before the cash got there, dispite being posted to London just as the post strike started - after the transfer was made!) Cost me 30.00 & 4.00 in bank charges.........