HL Loyalty Bonus A/c & Vantage

Jake'sGran

This is just about HL and their paper statements etc. Late last year I asked on here if people were thinking of selling/changing Fidelity Income as it was making a loss. There were a lot of responses telling me I was wrong. As it turned out it was HL who were wrong as they were showing £2573 as the consideration when it should have been £2000.

This is a bad mistake and I am now wondering how these contract notes and statements are prepared. I have fished out all the paperwork which mentions this fund
(Fidelity Inc.Inc Units) and the last Investment Report is showing an even higher consideration £2733 and a loss of
nearly £300. Instead of trying to work it all out I will ask them to give me the details.

Can I ask, do other HL clients check their statements and reports and find them easy to follow? I can see that they have bought a few more units which I think is weird for an income fund especially as I asked for it to be paid away.

mutley74

Jake'sGran wrote: »

This is just about HL and their paper statements etc. Late last year I asked on here if people were thinking of selling/changing Fidelity Income as it was making a loss. There were a lot of responses telling me I was wrong. As it turned out it was HL who were wrong as they were showing £2573 as the consideration when it should have been £2000.

This is a bad mistake and I am now wondering how these contract notes and statements are prepared. I have fished out all the paperwork which mentions this fund
(Fidelity Inc.Inc Units) and the last Investment Report is showing an even higher consideration £2733 and a loss of
nearly £300. Instead of trying to work it all out I will ask them to give me the details.

Can I ask, do other HL clients check their statements and reports and find them easy to follow? I can see that they have bought a few more units which I think is weird for an income fund especially as I asked for it to be paid away.

yes HL are pretty good IMHO for doing checks and investigating any complaints, best i found is to send them a secure message or call them if its urgent.

Mikeyorks

Sparky47 wrote: »

It does not appear to apply to money in the loyalty bonus account so will need to send in the form as normal.

You have to ask them - I normally 'phone or send a secure message - to move the loyalty bonus into 'cash'. Then you can withdraw it online.

Usually I just re-invest the loyalty bonuses (self + OH) (similarly needs the phone or secure message - to translate it into cash). But like a lot of people I moved most of my cash into Funds 18 months ago. But have just made a withdrawal to top up my cash reserves .... and got them to pop the loyalty bonus into that. Which was done with no problem.

Jake'sGran

utigers wrote: »

So did you/do you get charged for drawing out your loyalty bonus?

No. The bonus plus some cash I had there have now been used to purchase JPM Natural Resources.

Jake'sGran

Mikeyorks wrote: »

You have to ask them - I normally 'phone or send a secure message - to move the loyalty bonus into 'cash'. Then you can withdraw it online.

Usually I just re-invest the loyalty bonuses (self + OH) (similarly needs the phone or secure message - to translate it into cash). But like a lot of people I moved most of my cash into Funds 18 months ago. But have just made a withdrawal to top up my cash reserves .... and got them to pop the loyalty bonus into that. Which was done with no problem.

I got told this week that they won't accept a secure message to do this. They insisted it must be done by 'phone. It seemed contrary to me considering what they will do by secure message!

mutley74

interesting i asked HL which fund pays the 0.5% pa loyalty bonus they advertise, as i cant find one that does in their literature. They said they cant tell me that as it would be classed as financial advice!
hmm.....makes me wonder if i make a complaint to FSA for misleading advertising, as thats what it is to someone who has not used HL fund service before.

Jake'sGran

Jake'sGran wrote: »

No. The bonus plus some cash I had there have now been used to purchase JPM Natural Resources.

Just received an alert from Trustnet that this fund is no longer a top quartile performer

Primrose

Jake'sGran wrote: »

Just received an alert from Trustnet that this fund is no longer a top quartile performer

Oh dear! Bang goes one of my choices for my next year's ISA !
Are there any top performing funds left in this dismal economic environment?

mutley74

Jake'sGran wrote: »

Just received an alert from Trustnet that this fund is no longer a top quartile performer

its probably lost its top quartile spot due to the volatility in the mining sector.
IMHO this is a good stock for the long term.

masonic

Jake'sGran wrote: »

Just received an alert from Trustnet that this fund is no longer a top quartile performer

In a woolly sector like "Specialist", that doesn't necessarily mean very much. It still seems to be top quartile over 1 year.