iii introducing quarterly £20 charge

TechnoBadger

I'd hazard a guess that your new provider will know which Interactive Investor address is best to use. I'm sure forms will be sent daily in very large boxes...

moobax

Optimist wrote: »

That is no longer the case and was a part of the text of my first complaint to them. Their response below to that

I also asked about this, and yes, they say that dividends will be forwarded to your new provider if your account has been closed.

MrDaLi

Just listened to the Carruthers MoneyBox interview - thanks for the link.

He didn't mention it, but the way I see it the 8 free trades mean the £80 "fee" is more like just a prepayment for 8 trades a year. I don't consider myself a big-time investor, but I DO invest and the rebate on even my dismal fund balance will start covering almost half of the eighty - and I still get the free trades. Am I seriously the only one that will be quids in on this deal?

danielinto

MrDaLi wrote: »

Just listened to the Carruthers MoneyBox interview - thanks for the link.

He didn't mention it, but the way I see it the 8 free trades mean the £80 "fee" is more like just a prepayment for 8 trades a year. I don't consider myself a big-time investor, but I DO invest and the rebate on even my dismal fund balance will start covering almost half of the eighty - and I still get the free trades. Am I seriously the only one that will be quids in on this deal?

There will be many that will benefit from this deal, but there are those who don't and the way it was anounced initially meant we were in a loose/loose situation where we either take the £80 charge or transfer out by paying several hundred pounds.

For someone like myself that holds a dozen shares and rarely places a trade, the new charging structure works against me. For someone who trades frequently or has over £13k or so in funds then the new model either favours them or is neutral as they are only prepaying for trades they are going to place anyway.

Personally, the thing that bothered me the most is that iii (an execution only broker) thought it their duty to tell their customers how many trades they should be placing and how that was going to positively affect performance!

It was of course only out of their concern for their customers that they imposed the £20 quarterly charge...

guitarman001

jem16 wrote: »

The y-axis shows the percentage and the x-axis shows the unit of time. In most charts you can change this - so for example you could choose daily over 1 week.

This graph shows a default of yearly over 5 years.

http://www.hl.co.uk/funds/fund-discounts,-prices--and--factsheets/search-results/a/aberdeen-emerging-markets-bond-income/charts

Change the timespan to daily over 1 week.

So if you invested on June 5th it shows just over 0.1%. June 6th shows just under 0.2%. So a difference of just under 0.1% in that one day.

So it's relative to when you put the money in. If I put it in on June 5th I'd be 0.1% up. June 6th, 0.2% up. On June7th I'd be 0.2% up on the money I put in on June5th. BUT if I put a sum in on June 6th, is the gain on June 7th the 0.6% OR is it 0.6% - 0.2% = 0.4%?? This does confuse me..

guitarman001

Just_landed wrote: »

Since they moved to Glasgow & having had a number of complaints since with them all to no avail their address is :-

interactive invester
2 West Regent Street
Glasgow
G2 1RW

GFI

What??? On the bottom of their website their postcode is E1 8AA. That's what I'm putting on the Hargreaves Lansdown transfer form. Is that incorrect or...?

lionheart79

took them over 5 MONTHS of chasing to credit me with the December coupon on my ETI retail bond holding. The latest coupon date was 6th June. I'll give them a week and if it's not paid I will be going hell-to-leather with my complaints, given these new charges coming in [that I will certainly lose from overall, but not enough to make it worthwhile to find another provider] there can be NO EXCUSE for poor service.

grey_gym_sock

guitarman001 wrote: »

dunstonh wrote: »

HL's model is not currently compliant with RDR/Platform review. So, do expect it to change. They are still in receipt of platform commissions and IFA trail commissions.

Crikey, and HL aren't the cheapest either........ I guess I'll just have to take my chances and hope.

HL's model for Vanguard funds (which pay no platform or trail commission) is compliant. it's just their model for almost every other fund that it isn't.

so perhaps HL will bring all other funds into line with their model for Vanguard, and charge £2 per month for every fund. or perhaps they'll do something completely different. ...

i1189

guitarman001 wrote: »

What??? On the bottom of their website their postcode is E1 8AA. That's what I'm putting on the Hargreaves Lansdown transfer form. Is that incorrect or...?

The man at the Ombudsman seemed confused as to why they had the London address on their website. He said that was where their consumer credit licence was registered or something, but the Glasgow address was the one relevant for investments and that was where my complaint was sent by them.

victormeldrew2

premierfella wrote: »

After far too much time spent pondering, I've ended up applying for a Sippdeal account based on the fees and £1.50 regular trading, plus some positive comments about them in the forums. The trade off is the £9.95 standard trade fee, which can be beaten elsewhere.

I'm an infrequent trader with no funds in the iii ISA (so staying with iii made little sense to me) and I ruled out some of the other "no annual fee" ISA providers like this:
- Selftrade - transferred away like many in the past after a fee change, so not keen on returning;
- IWeb - I've tried them with a normal trading account and am not (personally) that keen on the interface, plus there is the transfer out fee;
- X-O - ISA closure fee makes it a no-go for me;
- SimplyStockbroking - corporate actions and dividend fees;
- Traders Own - dividend fees;
- SVS -corporate actions fee;
- High Street banks, including First Direct - standard trading fees exceed Sippdeal;
- TD Direct - account closure fees

I probably would have gone with X-O if I could have convinced myself that they would willingly waive ISA exit fees were they to introduce periodic account and/or inactivity fees (i.e. convinced myself that they would be forced to).

The exit fee is £50. They are unlikely to be affected by RDR as stockbroking only acct. The director of X-O has said there are no plans to change charging structure. By the time this changes i decided that I would have saved more in fees anyway so transferred to them. Already have one ISA and one JISA plus 2 nominee acccounts with them and have found them to be "Ronseal" people - they do exactly what they say