Leaving HL without transfer charges

Rollinghome

philc27 wrote: »

Question for any HL exit-ees: if you've been offered the 'special fee' deal and the waiver of exit fees, do you think the two are mutually exclusive? For me, the cheapest arrangement going forward would be to keep funds in HL (at the 'special deal' rate of .25%), and transfer shares/ETFs to a cheaper broker.

Would depend on what you've negotiated and what they've offered.

The offer of 0.25% to me was clearly with the condition that I kept my investments with them so they were offering either/or, not both.

You can always try to negotiate for what you want and they might agree if they want your account badly enough. Give whoever made the offer a call, preferably after lunch when he's just back from the pub.

ztkr

Rollinghome wrote: »

Would depend on what you've negotiated and what they've offered.

The offer of 0.25% to me was clearly with the condition that I kept my investments with them so they were offering either/or, not both.

You can always try to negotiate for what you want and they might agree if they want your account badly enough. Give whoever made the offer a call, preferably after lunch when he's just back from the pub.

Thanks for the 'after the pub' tip Rollinghome I just called HL, and they said that the reduced fee offer is based upon the account as a whole (I take that to mean the value they place on me as a customer, based upon the amount I hold with them) - so I could have waived exit fees, or reduced ongoing fee, but not mix and match. This is fair enough, I guess - but there was no harm in asking!

badger09

grey_gym_sock wrote: »

i thought cash ISA transfers also use cheques, because that lets them physically attach the transfer paperwork to the cheque. so it might be the same idea for cash inside S&S ISAs.

I don't think that's still the case. I posted 3 cash ISA xfer forms (from Leeds & Nationwide) to Santander on 18 March, and on 22 March, all 3 amounts appeared online as being received 21 March

fozzeh

Rollinghome wrote: »

You can always try to negotiate for what you want and they might agree if they want your account badly enough. Give whoever made the offer a call, preferably after lunch when he's just back from the pub.

What an insinuation to make! I would never go out for a couple of pints on a Friday lunch with my mates/bosses to the pub which was next door to our building when I worked in Leeds...never...

And when I say never...I mean I'd never miss doing so every Friday. Oh how I miss those days.

0% done between 2 and 4pm :rotfl:

jiggy2

HL have confirmed in writing to me that no exit fees will be charged.

Message received today from Cavendish:

Re Fidelity ISA
I have received a phone call from FundsNetwork regarding your request to re-register your funds from Hargreaves Lansdown.
Apparently Hargreaves Lansdown are waiting for you to pay their exit fees before they will allow the re-registration to proceed, I’m hoping that they have made you aware of that?
Please do let me know if you disagree with the above or if you have any updates and I will then pass that on to FundsNetwork.
If you have any queries please reply to this email or call us on 08456 442544
Yours sincerely

Borrowedtune

I am 6 weeks into my transfer, and all that's happened is that some spare cash (a few £100s) in my ISA account has disappeared, apparently it's currently being transferred to ii.


Meanwhile, I've just had a month's management fees deducted from my HL ISA and SIPP. If they are doing that I guess there's no incentive for HL to speed things up any.

Stanley_St

Borrowedtune wrote: »

I am 6 weeks into my transfer, and all that's happened is that some spare cash (a few £100s) in my ISA account has disappeared, apparently it's currently being transferred to ii.


Meanwhile, I've just had a month's management fees deducted from my HL ISA and SIPP. If they are doing that I guess there's no incentive for HL to speed things up any.

Nothing left my accounts well after 6 weeks, and no management fees deducted either as far as I can see...

bossymoo

My letter arrived, waiving exit fees and not charging management fees while transfer proceeds. Guess I'm in for a long wait. Would the FCA be interested to hear how long the transfers are taking?

naedanger

jiggy2 wrote: »

HL have confirmed in writing to me that no exit fees will be charged.

Message received today from Cavendish:

Re Fidelity ISA
I have received a phone call from FundsNetwork regarding your request to re-register your funds from Hargreaves Lansdown.
Apparently Hargreaves Lansdown are waiting for you to pay their exit fees before they will allow the re-registration to proceed, I’m hoping that they have made you aware of that?
Please do let me know if you disagree with the above or if you have any updates and I will then pass that on to FundsNetwork.
If you have any queries please reply to this email or call us on 08456 442544
Yours sincerely

It may be worth checking to see what HL say is the reason for the delay. If they are deliberately delaying the transfer through their incompetence then I would be sending them a formal letter of complaint over the matter.

naedanger

bossymoo wrote: »

Would the FCA be interested to hear how long the transfers are taking?

I suspect not, since they don't seem to be very interested in preventing HL charging customers exit fees when it is unfair to do so, according to official guidance.

Of course I think they should be interested, I just don't think they will be.