Help with my ii confusion please

fimonkey

Dear All,

Please can I have your opinion/advice on my personal situation with ii and their soon to be introduced charges.

Having been away for 3 weeks I have not much time left to make a decision between transferring to another provider or selling everything.

1. ii have said they will not charge any commission if I decide to sell before the end of July, when I asked them explicitly if there were any other fee's they said "no" - however I got stung for high charges when I moved my H&L ISA to them (it was a specific charge which I didn't specifically ask about) so I don't believe them. If I sell everything, WHAT WILL I HAVE TO PAY, AND TO WHOM?

2. Is it worth transferring given that I hold so little in so much and is there another provider which has a similar thing to the portfolio builder? If not overall which provider would prove to be the cheapest for me (I buy about £150 of shares every 2 months).

As you can see, I'm no hot shot trader. All this was about was to educate myself about shares and I was going for the dividend players with a long term outlook (holding for years and years and years). If I lost all this money in a shot then hey-ho - I was always prepared for that.

Given what I have below - what would you do, sell everything or transfer everything (or just transfer the ISA and sell whats in the trading account)?

Thanks all




My ii ISA


My ii trading account

Reaper

So confused you forgot to ask the question?

innovate

Loads of Qs there ....I have marked them in red now

Sorry, I don't know the answers

fimonkey wrote: »

Dear All,

Please can I have your opinion/advice on my personal situation with ii and their soon to be introduced charges.

Having been away for 3 weeks I have not much time left to make a decision between transferring to another provider or selling everything.

1. ii have said they will not charge any commission if I decide to sell before the end of July, when I asked them explicitly if there were any other fee's they said "no" - however I got stung for high charges when I moved my H&L ISA to them (it was a specific charge which I didn't specifically ask about) so I don't believe them. If I sell everything, WHAT WILL I HAVE TO PAY, AND TO WHOM?

2. Is it worth transferring given that I hold so little in so much and is there another provider which has a similar thing to the portfolio builder? If not overall which provider would prove to be the cheapest for me (I buy about £150 of shares every 2 months).

As you can see, I'm no hot shot trader. All this was about was to educate myself about shares and I was going for the dividend players with a long term outlook (holding for years and years and years). If I lost all this money in a shot then hey-ho - I was always prepared for that.

Given what I have below - what would you do, sell everything or transfer everything (or just transfer the ISA and sell whats in the trading account)?

Thanks all

Reaper

innovate wrote: »

Loads of Qs there

Ah, that's because they edited the post after I had replied. There was just a screen print when I looked.

Not being a iii user I can't give the answers for sure, but the topic has been thoroughly discussed in the thread iii introducing quarterly £20 charge, and the iii alternatives one, so you can probably find all the answers in those.

maryjanell79

With regards to selling/transferring it depends on your new agency as to whether they can re-register your assets or whether you have to sell them and buy them back. However your new agency should take care of all that when you apply for the transfer.

According to ii's charging model they charge £15 per line of stock to transfer out and £10 to buy/sell. So it will probably be cheaper to sell. (Again your new agency should take care of that for you should you choose to leave)

In terms of new providers there are many good self-investment options around. Such as Cavendish (very cheap, but not very helpful), Hargreaves or rplan (these are not as cheap, but better service).

I hope this information helps.

BLB53

I am in the process of transferring my isa and trading account from ii to sippdeal. If you decide to transfer to another broker, you need to notify ii before Friday if you wish to avoid the first £20 qarterly charge.

westy22

Low cost stockbrokers such as X-O (£5.95 per trade) or SVS (£5.75 or £1 for first 30 days) will take all the shares with no problems but will not take the HSBC All Share fund. You could sell the HSBC fund whilst still with ii and then open an ISA and Trading Account with one of those suggested and then transfer the shares and the cash balance for free (before 31 July).

If you wanted to either transfer the fund or buy it again, and also transfer your shares, then you would need a platform such as H-L or BestInvest.

fimonkey

Reaper wrote: »

So confused you forgot to ask the question?

Sorry, I was trying to embed the images and it kept coming up OK in preview but with ridiculously long hyperlinks when posted. So was editing as pointed out.

fimonkey

Reaper wrote: »

Ah, that's because they edited the post after I had replied. There was just a screen print when I looked.

Not being a iii user I can't give the answers for sure, but the topic has been thoroughly discussed in the thread iii introducing quarterly £20 charge, and the iii alternatives one, so you can probably find all the answers in those.

I HAVE read those threads so I'm not being lazy - nothing in those threads really covers me though as I'm such a small investor slowly trying to build up a portfolio so didn't want my investments eaten up bu dealing charges etc - so was looking for a portfolio type of builder and wondered if I'd missed anything (there's a lot to read in those threads) hence my own question.

fimonkey

maryjanell79 wrote: »

With regards to selling/transferring it depends on your new agency as to whether they can re-register your assets or whether you have to sell them and buy them back. However your new agency should take care of all that when you apply for the transfer.

According to ii's charging model they charge £15 per line of stock to transfer out and £10 to buy/sell. So it will probably be cheaper to sell. (Again your new agency should take care of that for you should you choose to leave)

In terms of new providers there are many good self-investment options around. Such as Cavendish (very cheap, but not very helpful), Hargreaves or rplan (these are not as cheap, but better service).

I hope this information helps.

Thanks, I have been told they won't charge me commission for selling before 31st July - is this the same as the £10 per line of stock or is the commission a different charge? Have also been told no charges for transfer before 31st July. Will check out Cavendish, but H&L no good cos they also charge (£2 per month I think) for holding tracker funds and I want to keep investing in the HSBC all shares tracker.

fimonkey

westy22 wrote: »

Low cost stockbrokers such as X-O (£5.95 per trade) or SVS (£5.75 or £1 for first 30 days) will take all the shares with no problems but will not take the HSBC All Share fund. You could sell the HSBC fund whilst still with ii and then open an ISA and Trading Account with one of those suggested and then transfer the shares and the cash balance for free (before 31 July).

If you wanted to either transfer the fund or buy it again, and also transfer your shares, then you would need a platform such as H-L or BestInvest.

Do BestInvest charge for holding trackers? I moved my ISA away from H&L for that very reason, the charges were a LOT more than my returns with such small investments.

What do you mean by £1 for first 30 days?