Hargreaves Lansdown

gazza982

Could someone let me know if H-L update your fund portfolio as soon as they carry out a trade? I added four new funds last night and the status still shows trading tonight.

Last time I think it went from Pending to showing the funds in the portfolio once the trade was carried out.

masonic

There's a settlement period of either 3 or 5 working days after the trade is carried out (depending on the funds bought and fund account you have). The funds should show up after that.

gazza982

Thanks masonic,

Sorry for asking so many questions but does the status change to Dealt once they have carried out the trade?

masonic

From what I remember of my last transaction, I think the status was still showing as pending when I received confirmation by post, so I guess not.

RayWolfe

Hate to contradict the others but my experience is that the trade is shown as soon as HL get confirmation from the fund manager. This can be as soon as instant to a days delay. Generally the account is updated online days before the confirmation arrives in the post.

masonic

RayWolfe wrote: »

...the trade is shown as soon as HL get confirmation from the fund manager.

This probably is the case. Athough it's a slightly different situation, I know, of the three funds I'm currently drip-feeding, one consistently shows up several days later than the other two. Maybe my last trade was slow to show online due to delayed confirmation?

Mojo71

Hi,

I've been trying to work out how things work, since switching over to HL recently. Seems to vary occasionally, for example I carried out a few instructions last Sunday (day before bank holiday), and was quite surprised that not everything was carried out on the Tuesday (first working day of that week). There was still a sell instruction "trading" until it it showed as "dealt" on the Wednesday.

Since these were Switch instructions, the subsequent purchase didn't then occur until the Thursday.

I'm quite interested if there is any guideline set in stone about how this works. Might come in useful in a market crash to work out if there is any possibility of being to time sell instructions very well, with the knowledge that they would be guaranteed to occur next day.

Also, I have another related question (sorry to hijack the thread). Does anyone know if there's a limit to the number of fund trades that can be carried out? I mean, I'm going to experiment with a theory I'm interested in trying out with a small amount of money, which will involve some short term fund purchasing and switching (maybe once or twice a month), and wondered if there's a limit and/or it costs HL money. What I mean is, if I purchase a fund where they discount all the initial charge (so it doesn't cost me anything), presumably they fund manager is rebating the commission to HL. If I only kept that fund holding for a month, and then switched, is someone somewhere making a loss (the fund managers paying HL maybe?) which might get flagged up to me? Plus, it costs HL postage to keep sending me a contract note.

Sillychuckie

masonic wrote: »

There's a settlement period of either 3 or 5 working days after the trade is carried out (depending on the funds bought and fund account you have). The funds should show up after that.

What is actually happening during that period? Can anyone explain the goings on during this 'settlement' stage? Ta.

masonic

Sillychuckie wrote: »

What is actually happening during that period? Can anyone explain the goings on during this 'settlement' stage? Ta.

I believe the settlement date is the date the shares are actually paid for. HL hold your money in a settlement account until that time. Not that transactions aren't binding before then.

RayWolfe

masonic is correct. Forget the settlement date, as far as we punters are concerned, it has no real meaning. HL get our instructions and the trade is priced at the following day's rate setting and my experience is the same as others, the trade can appear from that day until two or three more days. I suspect that they have electronic communication with the Schroders and Perpetuals of this world whilst they have to have paper transactions for the Nepunes and iimias.