iii introducing quarterly £20 charge

premierfella

Gambler wrote: »

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.

I'm sure that is almost certainly the case, but the reality is that "no plans" is an almost meaningless statement - every company I can think of would would honestly say that... right up to the day when they announce any plan to introduce a fee!

Not to be discounted totally of course, but I wouldn't put much weight on it and would make a decision based more on other factors (such as the mobile app, but also including what happens in the worst case scenario for you).

gadgetmind

guitarman001 wrote: »

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?

I've never contacted my old provider and have left HL to do everything. You can download the forms off the HL web site so it doesn't take too long.

Might be pushing it for time before July 1st!

I guess you need to inform iii of your intentions up front no matter who you're moving to.

I also assume Hargreaves can take my AIM share in their regular share dealing account - they list it on their website anyway (ANGM).

I just took a trade in ANGM most of the way through to placing an order without any problems.

Note that I use HL for convenience and good customer service. Their dealings costs aren't desperately competitive, but I trade very infrequently.

guitarman001

I've just downloaded the HL share transfer form. I don't know if this means once the transfer is done, the iii account is closed. I'll e-mail both HL and iii promptly. Do iii e-mails have to be done 'securely' through the actualy investment platform (never done this) or simply through gmail etc?

gingellr

Rob_192 wrote: »

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

Just for info...they charge £12.50 per qtr if you invest in funds not on their list, also i cant find on their website about transferring out charges.

amictus

I just discovered this thread which may be of interest to those looking to transfer to a basic stock broker:

https://forums.moneysavingexpert.com/discussion/3993511

guitarman001

Yes, HL dealing costs are a bit high but I plan to do VERY little dealing in future, relying only on regular investments into one fund.

I have e-mailed iii (secure messaging) and HL regarding share transfer and accounts closure.

Jennifer_Jane

BLB53 wrote: »

I suspect they were/are having cashflow problems and need to hang on to these dividends as long as legally possible. Perhaps a legacy of that £2m loss last year.
Mind you, that may be a a drop in the ocean compared to the losses they will incur this year imo.
Be v surprised if they are still trading this time next year.

Yes, I agree. Another reason for leaving. I feel sorry for them.

gadgetmind

guitarman001 wrote: »

Yes, HL dealing costs are a bit high but I plan to do VERY little dealing in future, relying only on regular investments into one fund.

No dealing cost for funds with HL.

I've only been using their regular investment feature for the last few weeks, and it works really well. However, I can't compare it with others as it's the only one that I've used!

gingellr

gadgetmind wrote: »

No dealing cost for funds with HL.

I've only been using their regular investment feature for the last few weeks, and it works really well. However, I can't compare it with others as it's the only one that I've used!

They do charge £1 or £2 per month on some funds that's one of the reasons i did not go with them

gadgetmind

gingellr wrote: »

They do charge £1 or £2 per month on some funds that's one of the reasons i did not go with them

They are still a good place to hold such funds as long as the portfolio is pretty much just that one fund. My wife's SIPP is now with HL and is 80% in Vanguard Lifestrategy 100% equities, with the rest being in bonds.