iii introducing quarterly £20 charge

DonnySaver

astreix wrote: »

Mrs got a reply to her request for account closure indicating that they will close her accounts by 1st of July.

Why not close them instantly is beyond me.

Hmmm, indeed. I've noticed that you can't remove your bank details from their systems yourself either. Hope they're not going to try anymore dirty tricks on us once 1st July is here. :think:

Paul_N_4

I've been with II for a couple of years. I have multiple small holdings of FTSE100 shares with a buy and hold for divi and long term growth strategy. Some time in the future I may consider a drip feed of a FTSE tracker. I'm not really interested in funds.

Can anyone recommend a suitable alternative broker for this type of strategy? Thanks.

TDM850

For all those hit by the new 'inactivity fees' and quarterly charges levied by iii, you might like to know that Traders Own Stockbroking charge just £6 per trade flat fee, there are no inactivity fees, quarterly fees or management charges of any kind. You also earn free equity units (shares in Traders Own Plc) with every trade, plus you can trade through an award winning iphone app. More info on the service here

brineybay

From Interactive Investor's email (7/6/12)... "In some circumstances it can take up to 8 weeks to complete a transfer, but as long as you instruct us in writing before 31 July 2012, the transfer will be free of charge."

Does "in writing" mean an actual letter, or just a secure message?

ses6jwg

In addition to my self select isa I also have around 6k held in AIM shares in my III dealing account, can these also be transferred to self trade or do I need to sell and rebuy?

RalphS

I am planning my transfer out, largely long term holdings of Preference Shares & ILH (over 9% return COMPLETELY tax free in an ISA!!!!) from II (possibly to X-O, an update to the 5 year old MSE article would be timely...).

However one of my II holdings (Touch Group) 'delisted' 6 months ago. The delisting document stated 'upon the De-listing becoming effective, the Company's CREST facility will be cancelled and Shareholders who hold Ordinary Shares in uncertificated form will receive share certificates'.

How does one obtain the certificate? From II, Touch Group or another? I spoke to Touch Group's MD & he 'didn't know'.

guitarman001

gadgetmind wrote: »

Pretty much the same with Hargreaves Lansdown. One form to open, one form to transfer from another platform, one box to check to specify "in specie" and the job's pretty much done.

Weren't all these platforms supposed to be using Swift by now?

http://citywire.co.uk/new-model-adviser/tisa-backs-iso-standard-to-push-forward-platform-re-registration/a395567

http://www.finextra.com/news/announcement.aspx?pressreleaseid=39661

So if I'm transferring to Hargreaves I've got to wait until all this post is done first (which could take a couple weeks) and then still have to send a letter to iii to close? Might be pushing it for time before July 1st!
I assume you do NOT initiate account closure UNTIL all shares are transferred?
I also assume Hargreaves can take my AIM share in their regular share dealing account - they list it on their website anyway (ANGM).

BLB53

Does "in writing" mean an actual letter, or just a secure message?

A SM will suffice.

I have asked ii to confirm that a "fee-free exit route" actually means they will not impose the transfer out fees of £15 per line of stock.

Its just that some brokers charge an exit fee in addition to the transfer out fee so be as well just to nail it down.

Gambler

Have just been told by live chat that there are no plans to introduce any account administration fees.

They have a really good mobile app which is important to me.

Rob_192

Paul_N wrote: »

I've been with II for a couple of years. I have multiple small holdings of FTSE100 shares with a buy and hold for divi and long term growth strategy. Some time in the future I may consider a drip feed of a FTSE tracker. I'm not really interested in funds.

Can anyone recommend a suitable alternative broker for this type of strategy? Thanks.

I use Sippdeal for exactly this type of strategy - notwithstanding their name, they offer Sipps, Isas and trading accounts. I've only been with them a few months, but have found everything very straightforward and no problems to date. They are part of A J Bell the stockbrokers.

R