Difficulty Buying ETFs

18th Dec '19 by Carey Blunt

8 comments 995 reads

Hi all

I've been trying to buy two ETFs via several different brokers. In particular I want to buy LG ARTIFICIAL INTELLIGENCE ETF (LON:AIAG) (An Artificial Intelligence ETF) and VANECK VECTORS ETF (LON:ESGB) (an eSports and Gaming ETF).

Although these are listed on the LSE and are legitimate UK listed versions of the ETFs none of my brokers seem to be able to offer them to me. When I queried Interactive Investor they said....

I am very sorry but we would only be able to offer these particular
investments if the underlying companies made the Cost Disclosure
and Key Information Documents available to Morningstar.
Morningstar is one of the largest data provider companies in this sector
so it should be fairly easy for the company to implement.
do know that Morningstar will follow up on outstanding documentation
on a regular basis but I am afraid this is not something that we
can facilitate.
Fundamentally, once they have the documents, we will be able to reflect
this on our online platform and then set up the investments for trading.

Has anyone else come across this same problem of a broker being reliant on a data provider?

Is anyone else able to get a sucessful quote from their brokers for these ETFs or is every broker reliant on the same information?

Anyone any ideas about how to fix this issue? I am not a MorningStar subscriber but I could sign up and then Nag them, is anyone else on here already a Morningstar subscriber and who could help with the nagging? Does Stocko use MorningStar and can they ask for Data Updates? Should I contact the providers and nag them or should I just shut up and wait for it to resolve itself over time?

All thoughts welcome,

cheers

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Carey Blunt

18th Dec '19

ooops, I think I broke this post by pasting in a quote! Maybe I should try the old site and see if I can fix it.

Post now fixed

Rusty2

19th Dec '19

I can buy both of these with HL.

lj3287

I can only buy the USD versions on II. be careful of that spread if you buy! Over 3%

20th Dec '19

Thanks for the responses. Unfortunately as I am buying into a JISA I can't buy the US versions. I guess I will have to hope that the providers fix the issue with the data providers which will then allow brokers to offer them.

The whole thing seems crazy to me, if its listed then you should be able to buy it in my book.

Anyone any other ideas?

intuitive6191

I think I last bought ETFs via Seltrade (now Equiniti).

Use a different broker, as I said I can buy into an ISA with HL, that was the UK listing as well.

23rd Dec '19

Thanks everyone. I can buy with YouInvest into one of my kids JISAs and can buy via Fineco Bank but not via Interactive Investor or iWeb. (As Herbie says HL also seem to be able to do it)
I have lodged queries with both Interactive Investor and iWeb to see if they can sort it.
iWeb said they would add them to their review list and then phone me once they had reviewed it.
Interactive Investor gave me that whole thing about Morning Star which I am not sure I believe because if other brokers can offer them then I don't see why Interactive Investor can't.
I think I will just have to nag Interactive Investor some more.

Difficulty Buying ETFs

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Carey Blunt

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