Leaving HL without transfer charges

mutley74

Sue_S wrote: »

I sent my secure message with OFFICIAL COMPLAINT in the heading (in caps so no mistaking). The body of the letter was copied and pasted, with minor amendments, from post #371 (thanks to naedanger).


This was my first contact with HL, I didn't bother asking just went straight to the complaint and got an incredibly speedy positive response. I sent the message on Thursday 6th, their letter to me is dated 7th.

what was your response?

Sue_S

mutley74 wrote: »

what was your response?

It was positive, I can leave with no transfer charge if transfer request received within 1 month of the date of letter. Also no new charges applied to my account while the transfer takes place.

mutley74

Sue_S wrote: »

It was positive, I can leave with no transfer charge if transfer request received within 1 month of the date of letter. Also no new charges applied to my account while the transfer takes place.

they, HL, offered me a discount on my management fees, but got to admit iii setup does seem a lot easier to understand than HL.
DAK what iii customer service is like?

lejog2003

However you wish to complain, ensure that your communication is headed with Official/Formal Complaint and marked FAO Senior Client Services Manager.

http://www.hl.co.uk/contact-us/how-to-make-a-complaint

andy013

Dose anyone know how long transfers usually take? I requested mine from my new provider a few weeks ago but nothing has happened as of yet. I think I'm getting close to the 1 month fee waive period HL gave me too.

naedanger

planteria wrote: »

does "I can confirm that I have passed your response onto our Client Services department as a formal complaint. They will deal with your complaint and aim to initially be in contact within 5 working days." sound positive enough?

Yes. I think all cases that have been treated by HL as formal or official complaints have been met with offers to waive exit fees. However, as you have found out, if the case is not treated as an official complaint the outcome can be negative.

(They should treat all complaints similarly, regardless of the precise form of words used. However it appears for HL you need to use the magic words - "formal" or "official" complaint to be certain.)

le_loup

andy013 wrote: »

Dose anyone know how long transfers usually take? I requested mine from my new provider a few weeks ago but nothing has happened as of yet. I think I'm getting close to the 1 month fee waive period HL gave me too.

You should have had a form to complete from H-L a few days after your new provider sent your transfer request to them. Have you been told by your new provider that they have passed on your request? If not, chase fast.
H-L's month was to run from their commitment to you until they received the request from your new provider, not until the transfer was complete.

planteria

good advice, le loup

and thank you naedanger. i am hopeful now. and i don't really want to delay. i have open the S&F and ISA accounts with iii, and am awaiting my SIPP Scheme Number from them.

any reason why i shouldn't get my S&F and ISA forms in the post to iii, and not wait to hear back from HL?

lejog2003

andy013 wrote: »

Dose anyone know how long transfers usually take? I requested mine from my new provider a few weeks ago but nothing has happened as of yet. I think I'm getting close to the 1 month fee waive period HL gave me too.

I initiated my SIPP in specie transfer in mid-Jan and had a letter from HL in early Feb saying it would take 8-10weeks. For this transfer HL insisted I filled in one of their forms they posted me, as well as the new suppliers forms.

My ISA transfer (cash) took a couple of weeks.No second form necessary.

I did write a letter to them in mid-Jan telling them I was going to transfer accounts away.

naedanger

planteria wrote: »

any reason why i shouldn't get my S&F and ISA forms in the post to iii, and not wait to hear back from HL?

I think it (very) unlikely but supposing HL still refuse to refund your exit fees. Would you go ahead with the transfer anyway? If your answer is "yes you would still transfer" then I think you can go ahead and put your forms in the post now.

However if your answer would be "no - not immediately e.g. you would wait on FOS" then you should wait to hear from HL before submitting your forms, just in case.