iii introducing quarterly £20 charge

grey_gym_sock

no: if you transfer as stock (or in specie, if you prefer), you're never out of the market, so you have exactly the same number of shares afterwards as before. you just can't buy and sell while the transfer is taking place.

any cash in your account will also be transferred. if shares are ex-dividend when they're transferred, the dividends will go to ii, who will send the cash on to TD, so it might be delayed.

you probably want to turn off any regular savings or dividend reinvestments on the old account before initiating the transfer.

dunstonh

pqrdef wrote: »

Bearing in mind of course that the FSA itself won't be with us much longer. There's still time for some new thinking.

Same people, same office, different initials. What difference apart from the new disclosure message on documents

pqrdef

dunstonh wrote: »

Same people, same office, different initials.

Not the same boss.

chubbybrown4real

Will there be a problem with me having and transferring funds from iii to another stocks and shares ISA in this tax year?

I have asked them will they be able to cancel this years ISA and still do a transfer so its kept tidy with the HMRC

mistergadgets

Glen_Clark wrote: »

That may be so, but its par for the course.
A bit like Ryan Air pricing.

I have seen several of these trading platforms start up with loss leader fees, then introduce the charges once they have got you hooked.

Thats why I keep my own certificates.

Glen, if you trade using certificates you could be paying a fortune more than you need to. Who do you use?

damsonjam

chubbybrown4real wrote: »

Will there be a problem with me having and transferring funds from iii to another stocks and shares ISA in this tax year?

I have asked them will they be able to cancel this years ISA and still do a transfer so its kept tidy with the HMRC

Shouldn't be a problem so long as you transfer from the old to the new one, rather than closing the old and then starting up a new one?

TechnoBadger

Just wondering, are we all leaving iii or are there some who are happy to stay with them?

Me? I'll be moving to iWeb having considered Sippdeal and Saga too.

lvader

I see no reason to leave, the charges won't affect me. I expect there are plenty of others in my position.

grey_gym_sock

i think i'm sitcking ... it will cost me more than it used to, but:

any broker with no annual fees but no cheap regular dealing would cost me just as much after i'd paid (a) to invest dividends received inside my ISA and (b) the opportunity cost of leaving those dividends in cash until i had a large enough sum to be worth investing at the standard dealing charge.

some brokers only offer regular dealing if you are subscribing new money regularly, which i don't want.

some brokers offer regular dealing, but have higher exit charges than iii (i.e. higher than iii's are when the current get-out-of-jail-free period ends), or have done something else i find annoying.

and AFAIK, iii are the only broker who let you set up regular dealing using percentages of available cash, e.g. invest 100% of available cash in 1 specified share. this is ideal for what i want to do with dividends - i don't have to log in every month and change the regular investment amount to the actual cash available.

mollycat

I'm staying as well; for me and the way I invest it's a no-brainer really.

Appreciate that it's not the same for everybody, so good luck to all who have moved.