NatWest Stockbrokers Acquisition

TD Acquire NatWest Stockbrokers

What has happened to NatWest Stockbrokers Ltd?


On 08/07/2014 National Westminster Bank Plc sold its interest in NatWest Stockbrokers Ltd (the provider of BrokerLine / Direct Trader Sharedealing services) to The Toronto-Dominion Bank Group. Letters and emails were sent to customers who were affected to explain how this impacted their accounts.

If you consented to transfer to TD Direct Investing your account(s) has now moved to TD Direct Investing.

For customers who did not reply, investments were moved to TD Direct Investing to ensure they are held safely until the customer informs us of their decision.

If you are in the process of closing or transferring out your account from the 7th January 2015 NatWest Stockbrokers Ltd will start trading under the name of TD Asset Administration UK Ltd. From this date you will no longer be able to access your account online. You still be able to manage your account and sell your investments over the telephone.

Activate your TD account

Want to accept TD's Terms of Service and activate your account?

If you previously held a sharedealing account with NatWest Brokerline (NatWest Stockbrokers) your investments moved to TD Direct Investing some time ago as the result of an acquisition by TD Direct Investing.

Since then we’ve continued to hold your investments in safe custody for you. To access your money you’ll first need to activate your account and to do this you’ll need to agree to our Terms of Service.

Get the most from our services when you agree to our Terms of Service

We’d love to welcome you to TD and help you make more of your investments. To access your money you’ll need to agree to our Terms of Service. 

Once this is done you’ll have access to our full range of services, including:

  • Research tools to help you choose your investments including Technical Insight, Trading Ideas, TD Recommended Funds & Market News
  • Affordable ways to save, starting from £25 per month for Regular Investments
  • No hidden charges and no ties (Visit our rates & charges page for full details)
  • Access to a wide choice of investment options including over 2,000 funds, UK and International Shares (including AIM),
  • ETFs, Investment Trusts & more
  • Annual account statements plus Corporate Action & Dividends updates
  • Online access 24/7 via our website and free smartphone & tablet apps
  • UK based call centre with knowledgeable, helpful staff

Understanding the risks

Remember that stock market investments can rise and fall in value and returns are not guaranteed, which means that you may get back less money than you originally invested. If you are unsure about the suitability of a particular investment or think that you need a personal recommendation, you should speak to a suitably qualified financial advisor.

Agreeing to our Terms is easy

(i)   Print and complete the TD Consent Form and return this to the address shown below, or;
(ii)  Speak to our Customer Services team and we’ll talk you through what you need to do next in order to agree to our Terms of Service and to get your account up and running. You’ll find our contact details here

Return Your Completed Form

Please return your completed TD Consent Form to the following address:

Account Management Team
TD Direct Investing
Exchange Court
Duncombe Street
Leeds
LS1 4AX

If you wish to close your account

Please contact us and we’ll help you to withdraw or transfer your assets. You will first need to consent to our current terms of service (see above) and we’ll complete your closure instructions in accordance with those terms.

Official Press Release

TD Bank Group completes acquisition of remaining interest in NatWest Stockbrokers Limited from National Westminster Bank plc

TD Bank Group (TD) (TSX and NYSE: TD) today announced that it has completed the acquisition of the remaining interest in NatWest Stockbrokers Limited (Natwest Stockbrokers) from National Westminster Bank plc (NatWest). TD Direct Investing (Europe) Limited (TD Direct Investing), a U.K.-based share dealing and investing subsidiary of TD, has partnered with NatWest for the past 12 years to provide stockbroking services to NatWest and Royal Bank of Scotland (RBS) customers under the NatWest Stockbrokers and RBS Direct Trader brands.

"We're very pleased to acquire NatWest’s interest in NatWest Stockbrokers,” said Leo Salom, Executive Vice President, TD Wealth. "This purchase represents TD’s ongoing commitment to providing market-leading stockbroking and investment services, building a strong presence in the U.K., and becoming a leading online broker in Europe.”

“Our ambition is to deliver a bank that earns the trust of our customers by serving them better. We believe this transaction will allow us to focus on the areas where we can deliver the best possible service,” said Moray McDonald, Managing Director, Products, Personal and Business Banking, RBS. “TD Direct Investing will provide NatWest Stockbrokers' customers with enhanced access to a broader product and service offering.”

“Our U.K. share dealing and investing business offers award-winning platform and account services. NatWest has been a great partner and we are looking forward to providing NatWest Stockbrokers’ customers with enhanced tools and legendary customer service under the TD Direct Investing brand,” said John Tracy, Senior Vice President, TD Direct Investing, TD Wealth (International).

NatWest and TD Direct Investing are committed to working together to ensure a smooth transition. Information was sent today to all NatWest Stockbrokers customers. Following a 90-day transition period, consenting customers' accounts will move to TD Direct Investing.  In addition, customers with questions can visit the NatWest Stockbrokers website or the RBS Direct Trader website.

About TD Bank Group

The Toronto-Dominion Bank and its subsidiaries are collectively known as TD Bank Group. TD is the sixth largest bank in North America by branches and serves over 22 million customers in three key businesses operating in a number of locations in financial centres around the globe: Canadian Retail, including TD Canada Trust, TD Auto Finance Canada, TD Wealth (Canada), TD Direct Investing, and TD Insurance; U.S. Retail, including TD Bank, America's Most Convenient Bank, TD Auto Finance U.S., TD Wealth (U.S.) and an investment in TD Ameritrade; and Wholesale Banking, including TD Securities. TD also ranks among the world's leading online financial services firms, with approximately 8 million active online and mobile customers. TD had CDN$896 billion in assets on April 30, 2014. The Toronto-Dominion Bank trades under the symbol "TD" on the Toronto and New York Stock Exchanges.

About TD Direct Investing

TD Direct Investing is a U.K. share dealing and investing subsidiary of TD and is one of the U.K.’s leading execution-only brokers, servicing approximately 205,000 U.K. customers with £7 billion in customer assets (stocks and cash) under management as of April 30, 2014.

About National Westminster Bank plc

National Westminster Bank plc is a principal subsidiary of the Royal Bank of Scotland (RBS). RBS is an international banking and financial services company. From its headquarters in Edinburgh, the RBS operates in the United Kingdom, Europe, the Middle East, the Americas and Asia, serving over 30 million customers worldwide.

RBS provides a wide range of products and services to personal, commercial, large corporate and institutional customers through National Westminster Bank plc and The Royal Bank of Scotland plc, as well as through a number of other well-known brands including Citizens, Charter One, Ulster Bank and Coutts.

FAQs

Our most frequently asked questions about the NatWest Stockbrokers acquisition

For customers who did not reply, investments were moved to TD Direct Investing to ensure they are held safely until the customer informs us of their decision.

You can still choose to keep your account(s) with TD Direct Investing by contacting us and providing consent by completing a NatWest BrokerLine Consent Form or an RBS Sharedealing Consent Form and posting it us.  Alternatively you can transfer to another service provider or close your account(s) but charges will apply.

TD Direct Investing is currently holding your investments  to ensure they are held safely but you cannot use your account(s) to trade or invest until you inform us of your decision.

For customers who did not reply, investments were moved to TD Direct Investing to ensure they are held safely until the customer informs us of their decision

TD Direct Investing offers a wide range of account types, in addition to this:

- You can continue to access your stockbroking services using your same account details, login and password.
- Your rates and charges will be the same or lower
- You'll benefit from access to a wider range of investing tools and services

To consent to keep your account(s) with TD Direct Investing you can complete a NatWest BrokerLine Consent Form or an RBS Sharedealing Consent Form and post it us. Or you can simply call us on 0113 345 2389 to provide your consent over the phone. If you hold any accounts jointly and are providing consent over the phone, all account holders will need to be present to do this.

Once you have given your consent, we will make every effort for you to be able to access your account as quickly as possible. We will also send you notification acknowledging you have chosen to move to TD Direct Investing.

If you decide you don't wish to continue your account(s) with TD Direct Investing you can transfer your investments to another provider but charges will apply. Please contact us to confirm your decision and which provider you wish to transfer to. You will then need to ask the provider to send us a transfer request so that we can start the transfer process.

Or you can close your account(s). You can sell your investments and have the money sent to your nominated bank account. Charges will apply when selling, and you may incur a Capital Gains Tax Charge so you may wish to speak to HMRC or a tax adviser. Where available, you can request paper certificates by phone. If you have an Individual Savings Account (ISA), closing your account may have tax implications. You may wish to discuss with HMRC or your financial advisor before taking this action. Unfortunately we are unable to provide you with tax advice.

As with any financial decision, if you have questions about which option to select, or have concerns about whether another provider's service is suitable for you, you should consult with a financial adviser.

Charges may apply.

Charges may apply for transferring the account(s) or withdrawing certificates. Normal fees will apply for selling investments.

If you are closing your account(s) you may incur a Capital Gains Tax Charge so you may wish to speak to HMRC or a tax adviser. If you have an Individual Savings Account (ISA), closing your account may have tax implications. You may wish to discuss with HMRC or your financial advisor before taking this action. Unfortunately we are unable to provide you with tax advice.

As with any financial decision, if you have questions about which option to select, or have concerns about whether another provider's service is suitable for you, you should consult with a financial adviser.

Letters and emails were sent to BrokerLine / Direct Trader Sharedealing services customers who were affected to explain how this impacted their accounts. They were given the options to transfer to TD Direct Investing, to transfer to another service provider or close their accounts. Customers were asked to notify NatWest Stockbrokers Ltd of their choice by 1st October 2014.

I chose to transfer my NatWest Stockbroking account(s) to TD Direct Investing

On 13th October, your BrokerLine /  Direct Trader Sharedealing services account(s) were fully transferred to TD Direct Investing. Your log-in and password details have not changed. You can continue to access your stockbroking services using your same account details, login and password via TD Direct Investing website log-in.

Your account history was migrated to TD Direct Investing and you will be unable to access the old BrokerLine /  Direct Trader Sharedealing services Sharedealing sites).

I chose to transfer my NatWest Stockbroking account(s) to another service provider

If your transfer to another provider is still in progress, your account(s) and investments will remain with BrokerLine /  Direct Trader Sharedealing services who will administer your account until your transfer completes and the account is closed. From the 7th January 2015 NatWest Stockbrokers Ltd will start trading under the name of TD Asset Administration UK Ltd.

 

You can currently continue to have limited access to your account via the usual website www.rbs-sharedealing.co.uk /Brokerline www.natweststockbrokers.com. However, from the 7th January 2015 you will no longer be able to access your account online. You should continue to use the same telephone number to speak to a representative (NWS 0808 208 4400 and RBS 0808 156 6000).

I chose to close my Natwest Stockbroking account(s)

If you are still in process of closing your account(s), your account(s) and investments will remain with BrokerLine /  Direct Trader Sharedealing services who will administer them until the account is closed. From the 7th January 2015 BrokerLine /  Direct Trader Sharedealing services  will start trading under the name of TD Asset Administration UK Ltd. You can currently continue to have limited access to your account via the usual website www.rbssharedealing.co.uk*/t*/ Brokerline www.natweststockbrokers.com. However, from the 7thJanuary 2015 you will no longer be able to access your account online. You should continue to use the same telephone number to speak to a representative (NWS 0808 208 4400/RBS 0808 156 6000).

 I did not take any action

For customers who did not reply, investments were moved to TD Direct Investing to ensure they are held safely until the customer informs us of their decision

You can view your account(s) via www.tddirectinvesting.co.uk but you cannot use your account(s) to trade or invest until you inform us of your decision.

You can keep your account(s) with TD Direct Investing by calling 0113 345 2389 and providing consent to transfer or returning a Natwest Brokerline Consent Form or a RBS Sharedealing Consent Form, alternatively you can transfer to another service provider or close your account(s) but charges will apply.

If you consented to transfer to TD Direct Investing or failed to inform us of your decision your account(s) were transferred to TD Direct Investing, including all of your historical transactions, and you are now unable to access the NatWest Stockbrokers website.

You now need to access your stockbroking services at the TD Direct Investing website.

For ease, your account number and password remained the same.

Share Gift is a registered charity which provides a charitable solution to disposing of unwanted shareholdings. In the unlikely event your defunct stock becomes tradable, it would be sold and the proceeds distributed to UK charities. If you do not wish these shares to transfer to Share Gift and you wish to continue to hold them you need to open a TD Direct Investing account.

If you do not wish these shares to transfer to Share Gift and you wish to continue to hold them you need to open a TD Direct Investing account.

Defunct securities occur when a company you have invested in ceases to exist, commonly through bankruptcy, and its shares delist from the exchange with which they were listed on. As such these shares are no longer admitted to trading on any exchange and at present hold no value.

Share Gift is a registered charity which provides a charitable solution to disposing of unwanted shareholdings. In the unlikely event your defunct stock becomes tradable, it would be sold and the proceeds distributed to UK charities. If you do not wish these shares to transfer to Share Gift and you wish to continue to hold them you need to open a TD Direct Investing account.

As part of the process of transferring your account from NatWest Stockbrokers to TD Direct Investing on 10th October, NatWest Stockbrokers needed make some payments/rebates to your account.  NatWest Stockbrokers calculated and paid any interest due to you on cash held in your account(s). In addition if you held any funds, NatWest Stockbrokers calculated and applied the platform fee, as well as reimbursed you with the trail commission rebate. These transactions have been calculated using the NatWest Stockbrokers rate card at the time of transfer.