HL to III

sorcerer

OK I am thinking of moving from HL to III for my ISA. III have most but not all of my funds in HL. What happens if I do the transfer and if I leave my portfolio account in tact to the funds that III don't actually hold. Will they sell my funds and transfer it in cash.


So if I hold 10 funds and III only have 8 what happens to the other two.


Also as far as I understand it , my charges will only be £20 per qtr plus £10 for each fund I buy or sell. Considering I am facing potential charges of over £1000 a year from HL, this sounds pretty good to me.


Is the III website any good?


Thanks for your help.

jimjames

Depends how you list the transfer.

When I did mine from HL to Cavendish I specified which funds to move (transfer as cash) and then to buy again at the other end. I didnt move all my funds, just the majority of them.

The remaining funds are still with HL.

WatsonNimrod

I can only really comment on the website as I'm a new customer myself, but I find the trading platform as good as HL, if not better.

With my ISA the funds I couldn't transfer I sold and transferred the balance, I'm slowly selling off my funds anyway and moving to ETFs and Shares as I semi retire and have more time to work on my portfolio.

I've made 20 or so trades so far on II all straight forward.

I'm pleased so far and I don't really miss the constant propaganda from the HL PR machine.

Linton

You can either transfer an ISA "in specie" where the fund ownership is reassigned, or by cash where you simply sell everything in H-L, transfer the cash to III and buy again. Or of course some mixture of the two. For simplicity and because it provides an opportunity to tidy up, I prefer to sell and rebuy (or buy something different) which is probably cheaper but it does mean you are out of the market for a while when prices may rise (or fall). What happens when the funds cant be transferred I dont know, but it must at least involve some delay. Better to get things tidy beforehand.

Which funds arent supported by III?

The III trading interface is fine, it does the job efficiently. There is little reason to linger in the wider website, but there is plenty of free information and tools on the net - including at H-L.

foofi22

sorcerer wrote: »

OK I am thinking of moving from HL to III for my ISA. III have most but not all of my funds in HL. What happens if I do the transfer and if I leave my portfolio account in tact to the funds that III don't actually hold. Will they sell my funds and transfer it in cash.


So if I hold 10 funds and III only have 8 what happens to the other two.


Also as far as I understand it , my charges will only be £20 per qtr plus £10 for each fund I buy or sell. Considering I am facing potential charges of over £1000 a year from HL, this sounds pretty good to me.


Is the III website any good?


Thanks for your help.

I'm with II (I seem to be saying this a lot recently) however I haven't used any other fund platforms so I can't compare. Although as far as I'm concerned th interface is 'fine'

Yes its £20 per quarter, so £80 each year.

Remember this entitles you to £20 'commission credit' each quarter too.

A single one-off fund purchase costs £10, so you can do 2 of these per quarter for 'free'

Alternatively regular fund buys cost £1.50, so you can do £20/£1.50 = 13 regular buys per quarter for 'free'

Additional trading will of course cost you in addition to your commission credit.

Unused commission credit is not carried over.

I don't know what would happen to your phantom funds.

The above figures are my understanding from memory so do check yourself too.

masonic

sorcerer wrote: »

OK I am thinking of moving from HL to III for my ISA. III have most but not all of my funds in HL. What happens if I do the transfer and if I leave my portfolio account in tact to the funds that III don't actually hold. Will they sell my funds and transfer it in cash.

Are you sure they aren't there? I thought I was in this position initially, but it turned out some funds are there but just quite difficult to find. It might pay to search for them using slightly different terms.

Also as far as I understand it , my charges will only be £20 per qtr plus £10 for each fund I buy or sell. Considering I am facing potential charges of over £1000 a year from HL, this sounds pretty good to me.

Don't forget the £20 quarterly charge gives you £20 of free trading credit, so if you are careful this might cover a significant portion of your trading costs.

jimjames

I should have added that if any of the funds are money put into your ISA this year then you will have to move all the money from this year. For previous years ISA allowance you can move part of it. I got round this last year by waiting till April to move some funds that were part of the current year contributions.

lvader

I've been with III since 2010 and I've never had any issues. One thing I really like is that I tend to be in and out of certain stocks on a regular basis and you can easily see all the historical trades under each of them.

Michael_Nottingham

I have funds on with several of the major platforms inc HL and III (I have been waiting for RDR to get a bit more finalised before doing a tidy up)

Personal view re online offer is that HL is probably the easiest to use with III not far behind, but both are better than Fundsnetwork and Cofunds is the worst

I am moving more to III and then will be looking at Alliance and possibly Youinvest to avoid being too reliant on one platform. I will also be thinking how to allocate SIPP vs ISA and funds vs shares vs UT to maintain my target mix while minimising charges

I wont be staying with HL as although their customer service is good I will be seeing a several 100% increase in costs which I cant justify

Freecall

masonic wrote: »

Don't forget the £20 quarterly charge gives you £20 of free trading credit

Been with II for a number of years and totally happy (I also have an account with HL but will be moving).

Don't forget you can also 'link' family accounts from a charging perspective with II so you only pay £20 pq once between you.

Imnoexpert_2

I too am looking at moving from HL.

I have set up a research account, and all my favourite funds are there, and although it is a bit strange at first haven't seen any obvious problems.

One issue though is if I start investing is there a Portfolio Analysis Tool as this is a feature I like a lot in other platforms?