Sep 10, 2017

Barclays hits problems as it scraps 30-year-old stockbrokers site

When Barclays unveiled plans to ditch its 30-year-old stockbrokers business last year, it envisaged replacing it with a new investment site that would appeal to thousands of retail banking customers. Many Barclays Stockbrokers customers who have been transferred across have complained about the new site, with some larger investors angered by the higher fees. Hundreds of customers have now left the bank because of dissatisfaction with the new site and charges, compounded by some of the administrative and technical problems. Alastair Thaw, director at Barclays Stockbrokers, says despite rigorous testing of Smart Investor and its technology, the increased number of customers and high demand for the service in its first few days "Did highlight a couple of areas where performance tweaks were necessary". Barclays remains confident that the new site will appeal to existing customers as well as novice investors.

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