Sep 1, 2017
Barclays new DIY investment site suffers hitches
Barclays has been hit with a series of problems at a new DIY investment site that replaced its 30-year-old stockbroking service, leaving many customers unable to log into their accounts and missing transactions. The lender shifted more than 200,000 customers with £14bn of assets over the bank holiday weekend, from its traditional Barclays Stockbrokers unit to a new website within its retail banking business. The new Smart Investor site is designed to appeal to a broader range of customers by offering more funds, passive investments, and savings tools, compared with its long-established Stockbrokers division, which focused on share trading. Barclays Stockbrokers' overhaul comes as more banks roll out investment services to less sophisticated retail investors in an attempt to boost revenue streams. Some of the largest banks such as HSBC are to offer investment advice online for customers with small savings pots.
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