iii introducing quarterly £20 charge

laughingboy

westy22 wrote: »

The 5 regular trades per month is incorrect - you can have 13 'Portfolio Builder' regular trades per quarter (13 x £1.50) or 2 real-time trades (2 x £10) per quarter or any combination equal to £20.

We don't know if they are yet fully RDR compliant because we don't actually know exactly what RDR will require of platforms as yet.

koru wrote: »

Seems right.

Thank you both.

I did think it would be 13 trades which they did confirm. It was just they added the "5 trades per month" thing on afterwards which contradicted their previous sentence!

And thanks for the heads up on RDR, I was thinking/hoping I could stay with II for now and look at changing platform (if advantageous) once other platforms had made their changes....

sabretoothtigger

Finance reform, all under the table kickbacks & charges must be stated explicitly

Just_landed

:rotfl:Would you believe it BP dividends paid out by iii on the day they are ment to be, talk about closing the stable door when the horse has bolted. All we we need now are the Tax Certificates, better late than never.

:mad:

miller

They have shunted the residue of cash over to X-O. However, still waiting on some dividends. Think I will probably wait until these are credited, make sure they have been transferred, then request closure (presumably I have about 3 months breathing space before being clobbered £20).

owencat

when did you first hear about the increased charges from III because i heard rumours on the internet and sold my shares in profit and i am trying to get back the commission as per tomas carruthers fee free exit but i need to know exactly when it came up originally. can you help please?

westy22

I received my email from ii on 30 May 12. That was the first I heard but others may have heard a day earlier perhaps?

fimonkey

Can anyone tell me whether TD are compliant with the new rules please? (Not sure how to check, but they do have 'new charges' being introduced 1st July. However they still seem to hold the HSBC tracker for free - so not sure.http://www.tddirectinvesting.co.uk/~/media/uk/pdf/rates-charges-upcoming.ashx

dunstonh

fimonkey wrote: »

Can anyone tell me whether TD are compliant with the new rules please? (Not sure how to check, but they do have 'new charges' being introduced 1st July. However they still seem to hold the HSBC tracker for free - so not sure.http://www.tddirectinvesting.co.uk/~/media/uk/pdf/rates-charges-upcoming.ashx

Based on a quick speed read, I would say it is not compliant with the platform review.

They are rebating trail commission. However, they are charging 0.35% on funds that pay a trail but nothing on no trail funds. Trail commission is what RDR is getting rid of.
There is no mention of the platform commission that is currently undisclosed on bundled platforms but rebated on unbundled platforms. Platform commission/rebates is what the platform review is getting rid of.

With them still getting the platform commission and not charging explictly for non-commission paying funds but charging extra for commission paying funds, it cannot be viewed as complaint with the end requirement. It looks like they are going with a step now and will make changes again later.

fimonkey

Wish I could thank you x10 for that! Cheers.

Sharjah_Wanderer

Hi BLB,
I had a similar gut feeling about a cash flow issue with iii and this 20 quid lark.
Any idea where I can get more info on this ?
Thanks and regards


Things seem to have gone downhill very quickly and I can only assume this is down to poor management. From what I can gather, iii are far from profitable and had to have an injection of capital from the parent company to get this years accounts past the auditors.

The introduction of charges feels like a panic response and I fear things will go from bad to worse over the coming year.