Jarden Direct

[BlackPeter]

Direct Broking Customer here, sold at some stage to ANZ Securities and just recently to Jarden Direct.

Holding our joint account with them for two decades or so and need another account to invest some money out of an inheritance.

Thought this is going to be easy with my broker for the last 20 years ... until I asked them.

No problem, they said - we send you a link.

They did.

Link asks for access to my cellphone to load some funny security software in order to identify me.

I did.

Received confirmation:

Dear xxx,
Thank you for choosing Jarden Direct as your self-directed investment platform. This email confirms that we have received your application and it is with our Client Experience team.

but then comes another email:

Hi,

Jarden have contracted Verifi Identity Services (‘Verifi’), to use their online system Cloudcheck to help us verify your identity. It’s a simple process and should only take a few minutes to complete.

Trust me - they lie. What started was neither easy, it took hours (counting several repetitions) and it is still not completed.

Do I want to continue doing business with people who lie? Anyway, this is how the story evolved:

I click the link and software wants to take my mugshots (face frontal, 45 degrees left turn, 45 degrees right turn).

I complied, though software makes life really difficult. How do you react if your software asks you for a lighter background if you stand in front of a white wall? No, I didn't threw the cell phone against the wall (its not its fault), but I started swearing.

Another handful of attempts and software is happy with the mugshots.

Ah, yes - and then software wants to take a photo of my drivers licence. I complied ... and got as response - DO NOT INCLUDE YOUR FACE (I didn't, but obviously there is a foto on my drivers licence).

Several attempts later - and no idea why they need the rear of the drivers licence as well I was done. Software said "Thank you". Sigh.

Waiting for my new account details, but a couple of days later comes an email from Jarden:

Hi xxx,


Thank you for applying with Jarden Direct, I can confirm we have received your application.

We weren’t able to electronically verify your identity; the 45-degree angle photo (in the middle between straight-on and side-on) was missing from the selfie photos.

Before we can proceed with the account opening, we need some further information:

I have sent you a link (separate email) so you can attempt to verify your identity again.

... and this is when it all started again. When I was still in work, we called software like that "banana software" (product is ripening at the customers site).

Another 30 minutes in my life nobody will give me back ... and I was done a second time.

Sigh - surely, now I will get the account details, won't I?

A day later:

Hi xxx,

Apologies for the delay in our response.

Sadly, this second attempt wasn’t successful.

I have sent you a new link if you would like to try once more.

Or if you prefer, we can use the manual identification process below:

· Please supply a newly certified copy of both sides of your drivers licence and

· Please supply a newly certified copy of a recent bank or government statement in your name (such as the bank statement supplied).



These documents can be certified by a Justice of the Peace, Solicitor or Chartered Account.

Remember - I am customer with them for the last two decades ....

I called their so called customer experience team, but they are not able (or willing) to discuss process (hey, we know you, but you need to jump through all the hoops a new customer needs to jump through as well, and it is a much more stringent process than with any other company, and no, we don't have a branch near you), though it sort of sounded they are aware that their onboarding process sucks.

I recon I will drive tomorrow into town and open a new broking account with ASB - or are their other suggestions around?

What I do know is that I will avoid Jarden from now on like the plague ...

Hope somebody finds this post inspirational

[justakiwi]

I only use them to buy on the USX but I don’t recall having to go through that process when I signed up

ASB Securities is much cheaper - I personally will never use Jarden Direct for anything other than USX.

Direct Broking Customer here, sold at some stage to ANZ Securities and just recently to Jarden Direct.

Holding our joint account with them for two decades or so and need another account to invest some money out of an inheritance.

Thought this is going to be easy with my broker for the last 20 years ... until I asked them.

No problem, they said - we send you a link.

They did.

Link asks for access to my cellphone to load some funny security software in order to identify me.

I did.

Received confirmation:



but then comes another email:



Trust me - they lie. What started was neither easy, it took hours (counting several repetitions) and it is still not completed.

Do I want to continue doing business with people who lie? Anyway, this is how the story evolved:

I click the link and software wants to take my mugshots (face frontal, 45 degrees left turn, 45 degrees right turn).

I complied, though software makes life really difficult. How do you react if your software asks you for a lighter background if you stand in front of a white wall? No, I didn't threw the cell phone against the wall (its not its fault), but I started swearing.

Another handful of attempts and software is happy with the mugshots.

Ah, yes - and then software wants to take a photo of my drivers licence. I complied ... and got as response - DO NOT INCLUDE YOUR FACE (I didn't, but obviously there is a foto on my drivers licence).

Several attempts later - and no idea why they need the rear of the drivers licence as well I was done. Software said "Thank you". Sigh.

Waiting for my new account details, but a couple of days later comes an email from Jarden:



... and this is when it all started again. When I was still in work, we called software like that "banana software" (product is ripening at the customers site).

Another 30 minutes in my life nobody will give me back ... and I was done a second time.

Sigh - surely, now I will get the account details, won't I?

A day later:



Remember - I am customer with them for the last two decades ....

I called their so called customer experience team, but they are not able (or willing) to discuss process (hey, we know you, but you need to jump through all the hoops a new customer needs to jump through as well, and it is a much more stringent process than with any other company, and no, we don't have a branch near you), though it sort of sounded they are aware that their onboarding process sucks.

I recon I will drive tomorrow into town and open a new broking account with ASB - or are their other suggestions around?

What I do know is that I will avoid Jarden from now on like the plague ...

Hope somebody finds this post inspirational

[BlackPeter]

I only use them to buy on the USX but I don’t recall having to go through that process when I signed up

ASB Securities is much cheaper - I personally will never use Jarden Direct for anything other than USX.

cheers ... and yes, apparently the process is new and it sounds they know already its not good, but hey, tough if you draw the short straw. Jarden clearly not interested in new customers.

[justakiwi]

No need to visit a branch. You can open an ASB Securities account online here:

https://online.asb.co.nz/apply/join/sharetrading

cheers ... and yes, apparently the process is new and it sounds they know already its not good, but hey, tough if you draw the short straw. Jarden clearly not interested in new customers.

[BlackPeter]

No need to visit a branch. You can open an ASB Securities account online here:

https://online.asb.co.nz/apply/join/sharetrading

cheers - so much easier than opening a second account with Jarden! Obviously - the usual stuff to read and one needs an e passport (which I own). Yes, they take a mugshot as well, but other than with Jarden, ASB's software did work for me on the first attempt. Such a relief ... its not me being incompatible with digital technology ... it is just Jarden using banana software (ripening at the customers site)!

I opened my account and have already an ASB account number - and the only reason it took me one hour from start to finish was because I read all the provided documentation (which is probably sensible)!

[peat]

interesting,
AML and compliance are a nightmare for service suppliers AND customers in the finance industry! when I was working at the brokers in 2017 it was almost impossible to sign people up , 90% of potential new clients failed to complete the process.

[blackcap]

Direct Broking Customer here, sold at some stage to ANZ Securities and just recently to Jarden Direct.

Holding our joint account with them for two decades or so and need another account to invest some money out of an inheritance.

Thought this is going to be easy with my broker for the last 20 years ... until I asked them.

No problem, they said - we send you a link.

They did.

Link asks for access to my cellphone to load some funny security software in order to identify me.

I did.

Received confirmation:



but then comes another email:



Trust me - they lie. What started was neither easy, it took hours (counting several repetitions) and it is still not completed.

Do I want to continue doing business with people who lie? Anyway, this is how the story evolved:

I click the link and software wants to take my mugshots (face frontal, 45 degrees left turn, 45 degrees right turn).

I complied, though software makes life really difficult. How do you react if your software asks you for a lighter background if you stand in front of a white wall? No, I didn't threw the cell phone against the wall (its not its fault), but I started swearing.

Another handful of attempts and software is happy with the mugshots.

Ah, yes - and then software wants to take a photo of my drivers licence. I complied ... and got as response - DO NOT INCLUDE YOUR FACE (I didn't, but obviously there is a foto on my drivers licence).

Several attempts later - and no idea why they need the rear of the drivers licence as well I was done. Software said "Thank you". Sigh.

Waiting for my new account details, but a couple of days later comes an email from Jarden:



... and this is when it all started again. When I was still in work, we called software like that "banana software" (product is ripening at the customers site).

Another 30 minutes in my life nobody will give me back ... and I was done a second time.

Sigh - surely, now I will get the account details, won't I?

A day later:



Remember - I am customer with them for the last two decades ....

I called their so called customer experience team, but they are not able (or willing) to discuss process (hey, we know you, but you need to jump through all the hoops a new customer needs to jump through as well, and it is a much more stringent process than with any other company, and no, we don't have a branch near you), though it sort of sounded they are aware that their onboarding process sucks.

I recon I will drive tomorrow into town and open a new broking account with ASB - or are their other suggestions around?

What I do know is that I will avoid Jarden from now on like the plague ...

Hope somebody finds this post inspirational

Wow, that is some story, I think AML has gotten totally out of hand. I would have been throwing a bit of abuse at the client onboarding team if that was me. Many eons ago I used to work for Direct Broking and this saddens me.

Hey BP, why not use sharesies? Only takes 2 mins to sign up, no mug shots required, no photos to take and no software to download. Once you are set up you can always transfer shares out to CSN.

[justakiwi]

Which worked really well at $5 a transfer, but this increases to $15 on the 31st January. Possibly still viable for those who wish to accumulate then transfer out a large parcel of shares, but far from ideal.

Once you are set up you can always transfer shares out to CSN.

[BlackPeter]

Wow, that is some story, I think AML has gotten totally out of hand. I would have been throwing a bit of abuse at the client onboarding team if that was me. Many eons ago I used to work for Direct Broking and this saddens me.

Hey BP, why not use sharesies? Only takes 2 mins to sign up, no mug shots required, no photos to take and no software to download. Once you are set up you can always transfer shares out to CSN.

Cheers.

And yes, I gave the Customer Experience team at Jarden a piece of my mind ;

To be fair - while I had contact over these two weeks with at least three of their staff who behaved like badly programmed robots ... in the meantime I have as well some exchange with a staff member (might be a manager, not sure) who apologized, thanked for my feedback (s. above) and promised to bring this all to the attention to the responsible departments to help them to learn from this debacle.

Maybe the whole thing will at least help future customers with Jarden Direct.

I have to admit as well, that Direct Broking always treated me well over the last 20 years or so - I assume this whole thing is a Jarden issue (new process / new software / untrained - or really badly trained - Jarden staff). Not sure what happend with the great team from Direct Broking?

Anyway - currently waiting for ASB to complete the setting up of my trading account ... but to be fair - they said it might take up to 5 working days (i.e. they still have three days left).

Not sure about sharesies - but I admit, this is at least partially due to not knowing enough about their processes. It sounds like a lot of additional paperwork per transaction if you want to keep the shares in your name (which I do).

Anyway - lets call them plan C in case this ASB thing works not out as I hope and expect (but at this stage I am optimistic).

[ithaka]

I have trading accounts with both Jarden & ASB. Although the Jarden signup process was a bit of a pain, I much prefer the Jarden trading platform.