What should Selftrade investors do now?

Investors with share-dealing service Selftrade have been asked to decide between switching to Equiniti or taking their custom elsewhere. Cris Sholto Heaton weighs up the options.

Around 130,000 investors who use online stockbroker Selftrade have recently received letters asking them to choose between transferring their accounts to another broker called Equiniti, or taking their money and assets elsewhere.

This is happening because Selftrade's parent company, Paris-listed Boursorama, has decided to exit the UK stockbroking business and Equiniti has bought Selftrade's 'book' of customers from it.

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Cris Sholto Heaton

Cris Sholto Heaton is an investment analyst and writer who has been contributing to MoneyWeek since 2006 and was managing editor of the magazine between 2016 and 2018. He is especially interested in international investing, believing many investors still focus too much on their home markets and that it pays to take advantage of all the opportunities the world offers. He often writes about Asian equities, international income and global asset allocation.

Cris began his career in financial services consultancy at PwC and Lane Clark & Peacock, before an abrupt change of direction into oil, gas and energy at Petroleum Economist and Platts and subsequently into investment research and writing. In addition to his articles for MoneyWeek, he also works with a number of asset managers, consultancies and financial information providers.

He holds the Chartered Financial Analyst designation and the Investment Management Certificate, as well as degrees in finance and mathematics. He has also studied acting, film-making and photography, and strongly suspects that an awareness of what makes a compelling story is just as important for understanding markets as any amount of qualifications.