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  • FIRST POST
    • Harrycane
    • By Harrycane 13th Sep 17, 12:12 PM
    • 1Posts
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    Harrycane
    SIPP transfer - 6 months and still not complete
    • #1
    • 13th Sep 17, 12:12 PM
    SIPP transfer - 6 months and still not complete 13th Sep 17 at 12:12 PM
    Does anyone else have experience of slow SIPP transfers? I started a transfer from Bestinvest to Fidelity in late March. There was a flurry of reregistrations in July, but the transfer is incomplete. I've been chasing this up with Fidelity, and they have been investigating, but still no resolution. Between my wife (similarly transferring) and me there is somewhere in the region of £150,000 yet to come through. Starting to get worried.
Page 1
    • xylophone
    • By xylophone 13th Sep 17, 12:24 PM
    • 22,881 Posts
    • 13,241 Thanks
    xylophone
    • #2
    • 13th Sep 17, 12:24 PM
    • #2
    • 13th Sep 17, 12:24 PM
    What is the cause of the delay and who is responsible for it?

    https://www.moneymarketing.co.uk/sipp-customer-compensated-transfer-delay/
    • dunstonh
    • By dunstonh 13th Sep 17, 12:25 PM
    • 89,502 Posts
    • 54,962 Thanks
    dunstonh
    • #3
    • 13th Sep 17, 12:25 PM
    • #3
    • 13th Sep 17, 12:25 PM
    cash transfers are the quickest way. in specie transfers can be sluggish and take a long time. Sometimes longer than 6 months.

    Do remember that with in-specie transfers, you are not losing money as the investment is still in place.
    I am an Independent Financial Adviser (IFA). Comments are for discussion purposes only. They are not financial advice. Different people have different needs and what is right for one person may not be for another. If you feel an area discussed may be relevant to you, then please seek advice from a Financial Adviser local to you.
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