TD Direct sold to Interactive Investor

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  • TCA
    TCA Posts: 1,530 Forumite
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    JohnRo wrote: »
    It would irritate me if I had to wait days for a dividend I knew had been due and not received that same day without good reason. Something I believe II are or were notorious for ? and if still the case another reason I'm keen to transfer.

    That's a good point John. TD, HL and iWeb are fine in that regard so not something I've experienced, but delays would certainly be annoying. Any IG customers out there with experience of dividend receipts?
  • Eco_Miser
    Eco_Miser Posts: 4,708 Forumite
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    JohnRo wrote: »
    I'm thinking iWeb are the obvious compromise, I don't need international access and their website is much improved which helps but these holdings will require a £25 opening fee.
    That's just one £25 fee for all your non-SIPP holdings with IWEB, hopefully forever; which is the equivalent of two years platform fees at Halifax.
    JohnRo wrote: »
    Any other suggestions for a platform to hold a purely IT portfolio cheaply, bearing in mind things like timely dividend payments being transferred to a nominated bank?

    It would irritate me if I had to wait days for a dividend I knew had been due and not received that same day without good reason.
    You may find the delay between a dividend arriving in your Iweb cash account and it arriving in your bank account annoying: apparently one working day to initiate the BACS transfer, three working days for the transfer and usually two days weekend somewhere between the working days. OTOH, they don't batch up the dividends and send them once a month, and I haven't experienced any random delays.
    Eco Miser
    Saving money for well over half a century
  • darkidoe
    darkidoe Posts: 1,125 Forumite
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    JohnRo wrote: »
    I'm debating whether to jump now for free or wait and see what's offered for certain. I'm sick of platform switching, having only fairly recently moved these holdings over to TD from CSD, in theory transferring is no big deal but I find it unsettling for some reason.

    The dilemma is where to go that's cheaper than the presumed II takeover charges but also as comprehensive as TD and likely to remain stable longer term.

    I'm thinking iWeb are the obvious compromise, I don't need international access and their website is much improved which helps but these holdings will require a £25 opening fee. I can't imagine they have a limited IT availability but will have to check.
    .
    I am on a all ETF portfolio and am thinking IWeb is the next logical choice in terms of cost.

    Anyone made the change to other platforms yet and how is the experience??

    Save 12K in 2020 # 38 £0/£20,000
  • C_Mababejive
    C_Mababejive Posts: 11,654 Forumite
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    Havent read it all but suffice to say, i have been very happy with TD. Their website is great,as is the level of service. The charges suit me fine too. If it starts to point down hill as a result of this move, i will bin them off.
    Feudal Britain needs land reform. 70% of the land is "owned" by 1 % of the population and at least 50% is unregistered (inherited by landed gentry). Thats why your slave box costs so much..
  • TCA
    TCA Posts: 1,530 Forumite
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    Economic wrote: »
    And you can get £250 to transfer:
    https://www.ig.com/uk/investments/share-dealing/transfer-investments

    For anyone considering the above, I've just had confirmation from IG that they pay the transfer bonus based on the first transfer only. i.e. if you're transferring multiple accounts to them, it's only the first transfer that counts for the reward. This is unlike last year's offer from Hargreaves Lansdown, who paid out based on the aggregate of all transfers.
  • talexuser
    talexuser Posts: 3,498 Forumite
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    Has anyone seen any recent feedback on II? On the assumption that the bad record was due to a large influx of customers due to good value after the retail review (which they were not able to handle adequately) I just wonder if things have improved any lately?
  • JohnRo
    JohnRo Posts: 2,887 Forumite
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    The IG offer is very tempting.

    I have zero experience of IG so a bit of a leap, at the very least it'll pay for an iWeb account being opened and compensate for a subsequent transfer if things don't suit there, after the six month requirement is met.
    'We don't need to be smarter than the rest; we need to be more disciplined than the rest.' - WB
  • TCA
    TCA Posts: 1,530 Forumite
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    JohnRo wrote: »
    The IG offer is very tempting.

    A few more bits of info on IG's offering from further emails to them. They're pretty quick at replying but I don't think I'll be using their Bed & ISA service if the costs I've been told are accurate:

    "We do offer a Bed & ISA service. This can cost up to £70 (£40 IG commission and up to £30 market spread)"

    "At this moment in time we do not offer a dividend reinvestment program. The dividends are added to your account for you to trade with as you please"

    "Our transfer reward incentive is currently open ended, with no expiry date scheduled. This may change at a later date"

    "There are no fees for closing the account"
  • TBC15
    TBC15 Posts: 1,452 Forumite
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    talexuser wrote: »
    Has anyone seen any recent feedback on II? On the assumption that the bad record was due to a large influx of customers due to good value after the retail review (which they were not able to handle adequately) I just wonder if things have improved any lately?

    In the near future we will have about £1M with them. No problems. £20 per quarter what more can you say?
  • TCA
    TCA Posts: 1,530 Forumite
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    EdSwippet wrote: »
    Ahem... AJ Bell Youinvest. A large fee increase, but full exit charges payable by anyone transferring out due to the increase. And not just once but twice, first in 2014 and then again at the end of 2016.

    However, up to now Interactive Investor have shown a much more customer friendly attitude when fiddling with T&Cs and charges. I don't think I would expect them to act as AJ Bell do.

    Just spotted the following on TD's website regarding transferring out:

    "If you’re thinking of leaving us because of the future change of ownership to Interactive Investor we’d like to reassure you that there will be no changes to your TD service in the near term. TD and Interactive Investor are working closely together to combine the best of the services they each offer today and are committed to continuing to provide high quality, great value investment services.

    If there are any changes to your current TD services in the future then we will always give you notice of those changes and help you to understand what any changes mean for you. If those changes are not appropriate for your investing needs then you will be able to close your TDDI account or transfer your portfolio without penalty at that time."

    Having read that, I'm still tempted to jump ship now given it's pretty clear that fixed fees are coming.
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