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  • FIRST POST
    • ed44
    • By ed44 12th Oct 16, 8:44 PM
    • 22Posts
    • 29Thanks
    ed44
    TD Direct sold to Interactive Investor
    • #1
    • 12th Oct 16, 8:44 PM
    TD Direct sold to Interactive Investor 12th Oct 16 at 8:44 PM
    https://www.moneymarketing.co.uk/interactive-investor-acquires-td-direct/

    http://www.tddirectinvesting.co.uk/special-pages/customer-information/?_ga=1.259966666.1942136220.1414500024

    No change to the TD service in the short term.
    Last edited by ed44; 12-10-2016 at 9:05 PM. Reason: changed link
Page 6
    • cloud_dog
    • By cloud_dog 10th Jun 17, 4:19 PM
    • 3,169 Posts
    • 1,699 Thanks
    cloud_dog
    If you have 10 shareholdings then that is £200! Exit fees discourage competition and encourage bad customer service. The problem is that many customers pay too little attention to such charges until they want to move broker.
    Originally posted by Economic
    I don't disagree but TD Direct is one of the few who do not charge a transfer out fee per line of stock, and are in the minority. The more usual figure I have seen tends to be around the £25 per line of stock.

    Moving brokers is (hopefully) a relatively rare occurrence and so this needs to be factored in to the decision making process.

    Unfortunately we cannot guard against the stupid, or more PC, people who can't be bothered to check the impact of their decisions.

    I appreciate this is slightly off topic but, for me the consideration is around the savings I (OH) would benefit from by paying zero ISA platform fee and zero SIPP platform fee and incurring a cost in (potentially) approximately 15 years time when I need to consider the best platform for transitioning to income etc.

    Over that time we would save over £1700 in fees from the OH SIPP with X-O, and save potentially even more than simply leaving the SIPP with HL. Obviously I would need to offset trading costs in this calculation but these are the considerations.

    I appreciate that for the SIPP consideration I could almost halve the platform fees by moving to another lower cost provider. So, for me these are the things to consider, not only the ISA aspect.
    Last edited by cloud_dog; 10-06-2017 at 4:22 PM.
    Personal Responsibility - Sad but True

    Sometimes.... I am like a dog with a bone
    • TCA
    • By TCA 10th Jun 17, 4:36 PM
    • 1,297 Posts
    • 734 Thanks
    TCA
    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.
    Originally posted by JohnRo
    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
    • By Eco Miser 10th Jun 17, 9:23 PM
    • 2,984 Posts
    • 2,763 Thanks
    Eco Miser
    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.
    Originally posted by JohnRo
    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.
    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.
    Originally posted by JohnRo
    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
    • By darkidoe 11th Jun 17, 2:26 AM
    • 862 Posts
    • 974 Thanks
    darkidoe
    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.
    .
    Originally posted by JohnRo
    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 2017 # 9 £7 616.65/15 000 (50.78%)
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    • C_Mababejive
    • By C_Mababejive 11th Jun 17, 11:57 AM
    • 10,251 Posts
    • 9,309 Thanks
    C_Mababejive
    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
    • By TCA 12th Jun 17, 1:05 PM
    • 1,297 Posts
    • 734 Thanks
    TCA
    Originally posted by Economic
    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
    • By talexuser 12th Jun 17, 2:03 PM
    • 2,253 Posts
    • 1,725 Thanks
    talexuser
    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
    • By JohnRo 12th Jun 17, 2:11 PM
    • 2,427 Posts
    • 2,180 Thanks
    JohnRo
    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
    • By TCA 12th Jun 17, 4:50 PM
    • 1,297 Posts
    • 734 Thanks
    TCA
    The IG offer is very tempting.
    Originally posted by JohnRo
    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
    • By TBC15 12th Jun 17, 5:52 PM
    • 180 Posts
    • 47 Thanks
    TBC15
    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?
    Originally posted by talexuser
    In the near future we will have about £1M with them. No problems. £20 per quarter what more can you say?
    • TCA
    • By TCA 15th Jun 17, 11:12 AM
    • 1,297 Posts
    • 734 Thanks
    TCA
    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.
    Originally posted by EdSwippet
    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.
    • cloud_dog
    • By cloud_dog 15th Jun 17, 11:30 AM
    • 3,169 Posts
    • 1,699 Thanks
    cloud_dog
    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.
    Originally posted by TCA
    Having read that I (OH) will be happy to stay for the time being and see how the dust settles.

    But if they do change the charge structure the the II model then I (OH) will be moving the accounts defiantly (just for xylophone)
    Personal Responsibility - Sad but True

    Sometimes.... I am like a dog with a bone
    • JohnRo
    • By JohnRo 15th Jun 17, 11:42 AM
    • 2,427 Posts
    • 2,180 Thanks
    JohnRo
    I'm still tempted to jump ship now given it's pretty clear that fixed fees are coming.
    by TCA
    I think it's perhaps prudent to wait and see what is actually proposed. I agree the fixed fee structure is coming to TD.

    A move to IG is on the cards for me given their current incentive but if, somehow, there is a charges fudge (HL offering reduced rates to some leaving customers for example) such that any existing TD arrangements are preserved, then I'll consider staying, subject to what other changes the new charging structure delivers.
    'We don't need to be smarter than the rest; we need to be more disciplined than the rest.' - WB
    • TCA
    • By TCA 15th Jun 17, 12:07 PM
    • 1,297 Posts
    • 734 Thanks
    TCA
    A move to IG is on the cards for me given their current incentive but if, somehow, there is a charges fudge (HL offering reduced rates to some leaving customers for example) such that any existing TD arrangements are preserved, then I'll consider staying, subject to what other changes the new charging structure delivers.
    Originally posted by JohnRo
    Like you I'm kind of sick of the switching. Although also not prudent, I'm constantly tempted to say sod it, and get all my holdings on one platform.
    • Dodge1664
    • By Dodge1664 16th Jun 17, 8:28 PM
    • 7 Posts
    • 1 Thanks
    Dodge1664
    has anyone looked into the impact of the takeover on the compensation arrangements in the event of Interactive Investor going bankrupt? There's a £50,000 limit per institution with the FSCS. At the moment, TD direct still seems to be registered separately to II. So it seems that someone with an account at both brokers would get 50,000 cover for each account. I wonder how much longer this will be true?
    • economic
    • By economic 17th Jun 17, 4:12 PM
    • 1,738 Posts
    • 872 Thanks
    economic
    I have a significant amount with TD only (well over the various protections). do you think its safe? its all invested and not in cash.


    or am I being stupid and should split to at least two brokers?
    • Nerdlinger
    • By Nerdlinger 21st Jun 17, 10:00 AM
    • 14 Posts
    • 5 Thanks
    Nerdlinger
    economic, shares are held in nominee accounts which make them legally safe from being considered seizable assets of the broker. So then it's just in danger from fraudulent brokers. There is a good article about nominee accounts on the International Investor website.
    Last edited by Nerdlinger; 02-07-2017 at 10:30 PM.
    • seacaitch
    • By seacaitch 21st Jun 17, 2:20 PM
    • 68 Posts
    • 123 Thanks
    seacaitch
    So then it's just in danger from fraudulent brokers.
    Originally posted by Nerdlinger
    Incompetent brokers with poor/broken systems also, who manage to co-mingle their own and customers' assets, for example, breaching custody and client money rules. It's possible to imagine how, in this way, a poorly run firm might end up burning through customer capital in addition to its own. No fraud necessary.

    And, it's possible to imagine how such a situation might lead on to fraud, if for example the problem firm, on discovering its errors, attempted to trade out of the situation rather than fessing up, and in doing so made the problem worse, compounding customer losses.

    These are likely very minor (low probability) risks for investors, but ones which if ever manifested could be ruinous. For those concerned, broker diversification is a prudent option. There's no "right" course of action, only that which lets you sleep easy, and everyone is different.

    NB this comment applies to all brokers.
    Last edited by seacaitch; 21-06-2017 at 2:27 PM.
    • economic
    • By economic 21st Jun 17, 4:46 PM
    • 1,738 Posts
    • 872 Thanks
    economic
    Incompetent brokers with poor/broken systems also, who manage to co-mingle their own and customers' assets, for example, breaching custody and client money rules. It's possible to imagine how, in this way, a poorly run firm might end up burning through customer capital in addition to its own. No fraud necessary.

    And, it's possible to imagine how such a situation might lead on to fraud, if for example the problem firm, on discovering its errors, attempted to trade out of the situation rather than fessing up, and in doing so made the problem worse, compounding customer losses.

    These are likely very minor (low probability) risks for investors, but ones which if ever manifested could be ruinous. For those concerned, broker diversification is a prudent option. There's no "right" course of action, only that which lets you sleep easy, and everyone is different.

    NB this comment applies to all brokers.
    Originally posted by seacaitch
    arent there regular checks/audits so tht this is not possible? specially if the broker is FCA regulated?
    • seacaitch
    • By seacaitch 21st Jun 17, 5:02 PM
    • 68 Posts
    • 123 Thanks
    seacaitch
    You buy insurance for things that aren't meant to happen but sometimes happen nonetheless.
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