Leaving HL without transfer charges

masonic

joerugby wrote: »

2. Don't understand the question

I think this refers to a partial transfer (cash on the account, but none of the current investments). I don't know the answer, but I do recall someone mentioning once that HL will not accept a partial transfer into their platform.

lejog2003

joerugby wrote: »

1. Approx £400,000

I was offered 0.2% capped at £250k with that sort of sum.

gadgetmind

lejog2003 wrote: »

I was offered 0.2% capped at £250k with that sort of sum.

I guess I could have got similar out of them but, 1) that's still £700 pa, 2) BestInvest's (grandfathered) fixed fees comes to £300 pa across four accounts (ISA/SIPP self/spouse), 3) BestInvest were polite and professional whereas HL treated me like something unpleasant they'd just found on the bottom of their shoe.

highet

despite agreeing with HL that, in recognition of long standing custom and significant amount invested, they would only charge 0.25% on my wife and I's investments, on checking august statement they have decided to help themselves to 0.45% anyway - obviously complaint submitted via secure messaging but would advise everyone to check their dealings with HL very carefully

just notice prev post from philc with same issue so obviously not an isolated incident

SnowMan

Hargreaves Lansdown new entrant in Financial Ombudsman Service complaints league

http://www.ftadviser.com/2014/09/02/ifa-industry/companies-and-people/hargreaves-new-entrant-in-fos-complaints-league-W5zGwQpeKLAYYYlGx31TTO/article.html

masonic

SnowMan wrote: »

Hargreaves Lansdown new entrant in Financial Ombudsman Service complaints league

http://www.ftadviser.com/2014/09/02/ifa-industry/companies-and-people/hargreaves-new-entrant-in-fos-complaints-league-W5zGwQpeKLAYYYlGx31TTO/article.html

Their own complaint data is rather more surprising...

Just 1,572 complaints relating to investments in H1 2014, of which 20% (314) were upheld.
http://www.hl.co.uk/about-us/regulatory-complaints-data

For H2 2013, the numbers were 3,173 complaints, of which 3.8% (121) were upheld.
http://web.archive.org/web/20140416114054/http://www.hl.co.uk/about-us/regulatory-complaints-data

I was expecting a large jump in overall complaint figures because of the charges, but it looks like few people formally complained about the charges, but the jump in the number of complaints upheld is telling!

gadgetmind

Well, my wife and myself didn't complain, we just left at their expense. If you have tumbleweed rather than customers, you're not going to get many complaints.

williamro

On reading through this thread I note that many subscribers are moving to Interactive Investor. I know nothing about them but see that they have received many unfavourable reviews for poor service. See link below. Beware of jumping from frying pan to fire and perhaps consider other options.

http://www.reviewcentre.com/reviews160733.html

le_loup

Unfortunately, when we moved, the reviews were favourable.
Bit like many review sites, stuff changes quickly.

Nixter

williamro wrote: »

On reading through this thread I note that many subscribers are moving to Interactive Investor. I know nothing about them but see that they have received many unfavourable reviews for poor service. See link below. Beware of jumping from frying pan to fire and perhaps consider other options.

http://www.reviewcentre.com/reviews160733.html

Yeah, they really are a pile of dung. After wasting 9 months with my transfer in, I'm now on the second month of my transfer OUT.