Leaving HL without transfer charges

masonic

happyarthur wrote: »

I`ve been informed that an email should be fine, thanks. What`s a secure message? - I`m a technophobe septuagenarian (it`s legal) and only recently moved on from a quill and squid ink. It took me about half an hour to figure out how to post a reply to naedanger`s post. This second post (of my life) took considerably less! There`s no stopping me now.

They have a facility on their website to send them a message after you log in. I'd use that in preference to sending an email (which they could claim they didn't receive).

nxdmsandkaskdjaqd

I have emailed HL, via secure message, on Saturday. However, no reply to date, despite 2 reminders.

Either they are very busy, or don't care about me!

happyarthur

naedanger wrote: »

Email is fine. I would keep the content formal to ensure they treat it as a complaint rather than an enquiry.

Thanks, I will email and keep it formal, it`s business of course and no place for levity. Now just have to figure out how to copy the template into my email - should keep me busy this evening! - I`m learning, but slowly,(as the tortoise might have said to the hare).

happyarthur

masonic wrote: »

They have a facility on their website to send them a message after you log in. I'd use that in preference to sending an email (which they could claim they didn't receive).

Thanks, had a look, and that`s something else I know of and can do now.

2shy

nxdmsandkaskdjaqd wrote: »

I have emailed HL, via secure message, on Saturday. However, no reply to date, despite 2 reminders.

Either they are very busy, or don't care about me!

Same here.
Transfer is going through none the less.

badger09

badger09 wrote: »

I'm moving my ISA but leaving my SIPP and wonder if that weakens my case for waiver of exit charges. Although why should it? I'm only moving ISA because of their new charging structure.

This thread must be one of the fastest moving.

Any of the experts care to comment?

Also, I was going to close my HL Fund & Share account (automatically opened when I opened my ISA) as I won't be using it and don't want to face hefty closure fees later.

Does the fact that I'm keeping my SIPP there, for now, have any bearing on this?

masonic

badger09 wrote: »

Does the fact that I'm keeping my SIPP there, for now, have any bearing on this?

Asking for only part of your portfolio to be transferred free of exit charges is beneficial to both parties, so if anything it should be more agreeable to HL. However, the implicit price of doing that is that you won't get a free exit on the SIPP if you later decide to jump ship.

Edit: If you want to keep your options open, maybe the best thing to do is secure a free exit on everything. You don't have to make use of it for the SIPP. This may also open the door to fee negotiations on the SIPP.

Totton

It will be interesting to see what is happening in a year or two, there is a lot of people that may be jumping from the fat into the fryer with their future wealth.

I would like to see the FCA sort out the issue of exit fees and impose a set-cost for any account closures. Until they do so there will be a constant problem when companies amend their pricing and folk look for the cheapest service again and again. Fixing exit-fees may well be the single best way to force platforms to set and retain pricing at levels the customers would support, until then we will probably see a perpetual stream of people complaining about changing fee structures and exit fees.

Just my 2 cents as they say.

Chris2000

nxdmsandkaskdjaqd wrote: »

I have emailed HL, via secure message, on Saturday. However, no reply to date

I also haven't heard anything, but I expect a formal response to my complaint and not an informal fob-off as some people have reported. If they are not used to having many complaints then it could take some time to work through them all, doing things by the book as they should.

Meanwhile a positive response from Halifax. They have confirmed ISA eligibility for SWIP Foundation Growth 'B' Accumulation units, which moves them into line with HL and other platforms. This should allow the fund to be transferred from HL to Halifax as stock. Fingers crossed.

bigadaj

Totton wrote: »

It will be interesting to see what is happening in a year or two, there is a lot of people that may be jumping from the fat into the fryer with their future wealth.

I would like to see the FCA sort out the issue of exit fees and impose a set-cost for any account closures. Until they do so there will be a constant problem when companies amend their pricing and folk look for the cheapest service again and again. Fixing exit-fees may well be the single best way to force platforms to set and retain pricing at levels the customers would support, until then we will probably see a perpetual stream of people complaining about changing fee structures and exit fees.

Just my 2 cents as they say.

Not a bad idea but in some ways it would actually be anti competitive, why limit some charges and not others.

So long as the charges are open, and they come down heavily on those firms that try and change terms and conditions up unilaterally.