Leaving HL without transfer charges

naedanger

badger09 wrote: »

The comments following that article are even more interesting. Wonder what HL's stats on complaints will look like for the first half of 2014 :cool:

I don't know but lower than the true figure since they have not been recognising all complaints as complaints.

badger09

naedanger wrote: »

I don't know but lower than the true figure since they have not been recognising all complaints as complaints.

Very true.

Lies, damn lies and statistics :eek:

naedanger

yatinsardana wrote: »

Received an email from the FCA today acknowledging my complaint to them. They key bits are:

They have essentially informed me that there is a complaints procedure and that they are unable to deal with individual complaints (as naedanger had already informed me). However, should I be unsatisfied with the way my complaints are dealt with first the platform and the FOS I should contact them.

With regards to the letter I sent to them about HLs practices, they have involved the team that is in charge of conduct supervision of HL. They're unable to tell me if they've already started a legal investigation into HL but assure me that if they are fundamentally doing something wrong, they will take regulatory action.

The bit where they say that if you are unsatisfied by the way your complaint is handled (by the platform and FOS) then you should contact them is very interesting. It does not sound the sort of thing they would say unless they are taking an interest. (Then again maybe they are just trying to create that impression.)

In any event thanks for the update and for taking the effort to complain to the FCA about the way HL has been handling this matter.

masonic

naedanger wrote: »

I don't know but lower than the true figure since they have not been recognising all complaints as complaints.

And of course, none of the complaints HL did recognise were upheld. They may have given in to the requests in each and every complaint as a gesture of good will, but they still contend that they did not need to do so.

Doctor_Who

:j:j:j:j:j:j:j:j:j

The 5 funds in my S&S ISA have now moved from HL to II.....well 4 funds appear on both the HL and II websites but I assume HL will sort this out soon!!

Now to go through the whole process again....my SIPP transfer was initiated a couple of weeks after the ISA transfer.

mikebeaches

CaptainHaddock wrote: »

See this article in Citywire.

Hargreaves tops FCA's investments complaints list

I suppose you could say - 'well they are the biggest...'

But as others have observed - that was LAST year, before news of their outrageous new pricing policy was announced!

It will indeed be interesting to see the number of complaints for the current six-month period, when they're published.

glossy123

[Deleted User] wrote:

Hi,



how did you find out what your fees will be for April, had a look at HL and couldn't find it.

Though did find a secure message saying I had to top up MCB for ISA, even though I have £75 of loyalty.

I just looked at my ISA as I check the income every month, and the charges are shown under income account history.

I have been following the HL threads with interest and found some very useful information, thank you all.

I only have a small portion of my isa in funds, but looking at the charge, I am going to move them out or sell, because I have worked out their new charge seems to take 12% of the income on an annual basis! :mad:

gadgetmind

mikebeaches wrote: »

But as others have observed - that was LAST year, before news of their outrageous new pricing policy was announced!

I wonder how their complaint ratio looks compared to other platforms. Oh, and to Waitrose!

mikebeaches

Interesting feature posted 7 April '14, on the lang cat blog concerning exit charges. The author takes apart a statement on the subject by HL's chief, Ian Gorham.

http://langcatfinancial.co.uk/blog/

"Nick Paler's interview with Hargreaves Ian Gorham in Professional Adviser last week caught my eye. Headlined “We will not scrap exit fees until FCA tightens transfer rules”, in it Gorham explains the thinking behind Hargreaves’ campaign for the FCA to take action and make transfers of stock easier to do across the whole industry."

tightfisteddave

Started off my transfers from HL.

On first S&S ISA account (in my sisters name) I only have about £10k in one fund but am going to switch to Fidelity via Cavendish along with some other stuff.

Sent Naedanger's complaint template via secure message.

I also have another account in my name with about 23k in S&S ISA and 27k in SIPP.

I was planning to transfer the S&S ISA (with about 10 funds) to Fidelity via Cavendish bit at the moment I might leave the SIPP (15 funds - dartboard approach to investing :j) with HL.

Just a quick question to anyone who might know. Has anyone launched an official complaint re charges but then only closed one of their accounts with HL? Is there likely to be a problem if I only decide to move the S&S ISA rather than both?

thanks