Leaving HL without transfer charges

gterr

ozzage wrote: »

I must say gterr yours is certainly the most entertaining of the stories! If I were you and didn't end up with some compensation at the end of it all to dull the pain l'd be most disappointed.

I think it must be a punishment for having started this thread!


Phoned HL this morning: promised call back within the hour. No call back received. So, yes, as advised by xylophone, have now lodged a formal complaint and have been promised (ha ha) a written response within 5 days. Will certainly be asking for some compensation.

gadgetmind

gterr wrote: »

If HL have made the recent purchase as part of an Isa then we are in breach or regs, since husband has already filled his current Isa subscription with new purchases at CSD.

As long as this cash was already within an ISA wrapper, then it doesn't count as a new subscription no matter how many pillars and posts it has been bounced between.

rpc

And finally HL have confirmed that my last fund has completed it's transfer. It must be an uncanny coincidence that this happens shortly after I chase them about it.

Cash leaves next week, at which point I will be HL-free.

xylophone

almost speechless about the poor service

To be fair about the terminology question, it could well have been "team" - relative was just relieved that the form had not disappeared into a wastepaper basket or (worse) somehow been linked with the other party's transfer!:eek:

That said, he's nervous!

On a positive note, I have to say that when I found that I could not put through a sale order on line (some glitch or the other), a call to II did produce a telephone response as promised on the following morning, and the sale went through.

I'll report on my relatives' progress when I'm updated!

xylophone

It was the £85,000 cash from the sale of funds that disappeared for 10 weeks!

I dare not show my relatives this post - I think they might have apoplexy...:eek:

hyposmurf

le_loup wrote: »

Just to keep you informed about my S&S ISA transfers from H-L to III; they are all completed as at today.
- Started early February
- Mine completed couple of weeks ago
- My wife's completed today
Not all straightforward; did lots of chasing; no idea who was at fault; but at least it does eventually happen.
I will be telling the financial authorities in an effort to get them to legislate on the speed of this process which we all agree is a bl00dy disgrace.
Hang on guys and gals, it will happen but meanwhile, give them hell.

Started mine in March and it's almost completed.Just awaiting my shares and cash to show up in my account with new provider.It could've been worse I guess but not been a very smooth process.Chasing both sides, at some points I'd have over a week where my funds weren't showing i either account.I totally agree the whole transfer system needs to be cleaned up and made smoother, from my experience it is pretty poor.

bossymoo

It's all just frightening - at least some of us aren't relying on the money, but some transferring pensions are having their monthly payments delayed

I've just checked mine and I have only cash left in my HL ISA. I will leave it for a few days as the cash on my F&S transferred without prompting. And I have 2 funds not showing on either platform.

HL still haven't provided a valuation to II even though I requested a second one and they replied saying they had. Funds are still coming in without the ISA marker so II are just loading them into to trading acc. But they moved 2 previously on my request so I've just resent the message, and expect they will be moved this week.

Will be interesting now it is June to see if HL apply a closure fee - even though they said they wouldn't...

Doctor_Who

bossymoo wrote: »

Will be interesting now it is June to see if HL apply a closure fee - even though they said they wouldn't...

They assured me by secure message that no account closure fee would be applied because I had initiated the transfer back in February and they had agreed to waive transfer fees and keep me on the old charging structure...but we'll have to wait and see what happens. My ISA might close soon as only cash is left, my SIPP hasn't even started to budge yet!

guitarman001

Is it too late for me to transfer out without facing huge fees?

What is the best alternative if I want to buy Vanguard funds?

I left iii because they were charging £80 a year.
If I have £20k in funds and Hargreaves charge 0.45% then that's £90. Not a show-stopper right now (though more expensive than the £2 per month on Vanguard funds they were previously charging!).

Percentage-based is always worse but I'm wondering if it's really worth it? Has the whole RDR thing calmed down now - has every company announced their changes and is there a good summary of these anywhere?

EDIT - just saw iii also covers the cost of two trades so if you trade twice per quarter then you effectively don't pay anything at all? That's good - HL defo more expensive... but I have to say I found the iii interface pretty rubbish compared to HL. And just like the HL website crashed, so did iii's not long back...

xylophone

I found the iii interface pretty rubbish compared to HL.

This is true, alas - another glitch when attempting to buy a fund on line this morning - another telephone call required to resolve the problem....

But the thought of not paying HL's percentage charge sustains me....:).