iii.co.uk S&S ISA problems?

cing0

foofi22 wrote: »

Really - that's quick. Before the upgrade 'normal' for me was 2 or 3 days...

For ISA's yes, don't know about SIPP or trading accounts. HSDL works the same way.
Search for "If I place a deal today, when will it go through" on http://knowledgebase.iii.co.uk/

Wobblydeb

I set up my first share purchase up on the new system to use their regular investment service (and pay £1.50 dealing fee). Should have gone through yesterday, and there were more than adequate funds in my account.

No sign of it though in my holdings

Anyone else had this problem?

moneylover

cing0 wrote: »

Quite a few things broken. I think they have moved to an existing platform, adopting the suppliers back end and put a new front end on it.
Fund purchases take an extra day longer to execute so I presume fund provider has been changed to cofunds.

Is this still happening? I was thinking how much better than HL where you have to buy the fund before 8am if you want to get it that day. At 11.15am you would have a better idea if you wanted to sell or buy that day than you would if you were with HL and had to deeal before market even open.
The knowledge database says:
We have a cut-off point of 11.15am. All deals placed before this time will be sent to our Fund Administrator at midday to get the next available valuation point.
You will receive the order confirmation and contract note early the following morning after the deal is placed.
If you miss the 11.15am cut-off point your trade will be held over until the following business day.

I have two more questions about this broker:
Is the cost of funds the same as H-L eg is there no initial charge?

Secondly limit orders. I was amazed that they used to charge £2 I use limit orders a lot. Suppose that you have £3000 to invest. Could you put a limit order to buy on say three separate shares if you didnt mind which one you actually got to buy first? You can do that on Selftrade but you cant do it on x-o which I use for share purchases as so cheap. On x-o (and on HL I believe) the £3000 would lock onto the first order and if you had no more money you wouldnt be able to set any other limit orders.

Thanks! Will be interested in replies!

Wobblydeb

Sorely tempted to shift my S&S ISA out of iii, after poor service from the new platform.

One dividend went missing for about 20 days. I'm on automatic reinvestment and sadly missed out getting more shares before a 25% run up in the share price. Okay, it's not a lot of money but I am annoyed on principal :mad:

Secondly they have stuffed up my regular investment for November. It has still not gone through. :mad: For this one the shares are now 5% more expensive.

It is really frustrating after singing their praises for the last 2 years The fact they were part of the Halifax group was one of the reasons I decided to use iii in the first place.

PaulW1965

How's it going now guys? Is it still rubbish? Would iii users recommend this over say TD Waterhouse (for holding UK and International shares in a self select ISA?)

fizzypop

PaulW1965 wrote: »

How's it going now guys? Is it still rubbish? Would iii users recommend this over say TD Waterhouse (for holding UK and International shares in a self select ISA?)

Cannot comment on TDW but iii has settled down. Company blogs are now not full of complaints about late divi credits. But it is a downgrade and the monthly £1.50 Portfolio Builder is a step back to the dark ages after the weekly offering.
Screens now look crude but finding your way around is not intuitive. Buying is slower and you are forced to wait for minutes for a new quote where before it was immediate. I will stay with iii for my ISA - hopefully things will improve if iii want more business. Just bought SBRY at £2.82 and all recorded OK.

IronWolf

Everythings been sorted on my end, although one of my holdings randomly disappeared the other week, but I sent a message and they fixed it.

I've not used TDW but I think I went with iii as they didn't have some of the hidden charges, but maybe that's changed.

iii is fine if you aren't a regular buyer/seller which suits me. One thing that I have a problem with though is they don't accept W-8BEN forms, so I have to pay 30% tax on US dividends. I'm looking around at other ISA providers to hold any high dividend paying US shares I want to buy.

BLB53

Things are better than they were a couple of months ago. The customer services manager has been replaced and the new person is gradually getting to grips with all the issues.
I think the main problem is the delay in getting dividends. Apparently, each new one comes as a cheque which has to be banked and then credited manually so there are delays of up to 2 weeks. They are gradually setting up arrangements for future dividends to arrive by bank transfer so should be slowly sorted over the next few months.
I don't trade a lot but did sell a couple on Friday and also bought Tesco and everything went through as normal, but don't like the new trading screen which looks a bit amateurish, although it does the job.
Also they respond to emails very swiftly (I don't bother with the secure message now) and also you can get through on the phone.
I'd say definite progress and maybe 6.5/10 for the time being (compared to 9/10 before the changeover).