Jarvis Investment Management

I became a Jarvis customer by default when they purchased the "execution only" business of CFA Securities (Sharenet) early in 2003. The customer service has since got to a level that I can no longer tolerate, which has brought its own problems.

Gripes:

1. Telephone callers are left on hold for more than 5 minutes having to suffer a tinny rendition of "Moonlight Sonata" (so tacky!), whilst constantly ...
...However, there are a number of flat rate online stockbrokers who provide better value on larger trades and have similar geographic coverage. For the record, I have moved to Ample/imiweb and am very satisfied.

Verdict on Jarvis Investment Management: Avoid at all costs!
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I became a Jarvis customer by default when they purchased the "execution only" business of CFA Securities (Sharenet) early in 2003. The customer service has since got to a level that I can no longer tolerate, which has brought its own problems.

Gripes:

1. Telephone callers are left on hold for more than 5 minutes having to suffer a tinny rendition of "Moonlight Sonata" (so tacky!), whilst constantly being informed that the website is a more efficient means of transaction;

2. The basic, but clear website would be a more efficient means of transaction if:

a. It didn't take weeks to establish an online account &:
b. It was possible to trade more than just popular stocks;

3. I still have not received a dividend paid in June 2003 (now October) and they have ignored a reminder letter;

4. When I finally had enough and asked for my remaining stock to be transferred, they ignored my new broker's transfer request and 2 emails from myself for six weeks, even though they had charged an immediate transfer fee. It was only when I telephoned them that they answered with "oh yeah, we haven't got round to that yet!", but subsequently arranged the transfer in less than 10 minutes!

5. They referred to my transaction (using my hard earned cash) as a "scrap deal"!

The basic fee structure (for those brave enough to proceed) is quite reasonable at 0.8% of the trade, with a minimum fee of £8. They do cover the AIM, OFEX, US and European markets. However, there are a number of flat rate online stockbrokers who provide better value on larger trades and have similar geographic coverage. For the record, I have moved to Ample/imiweb and am very satisfied.

Verdict on Jarvis Investment Management: Avoid at all costs!
 

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