Switching investments within my PEP's ?

GTG

cheerfulcat wrote: »

Best of luck! And keep us posted, won't you?

Certainly will, waiting for a return call from the FSA.

I have a legal expenses policy attached to my home insurance which covers contract disputes etc. Two to three weeks after my transfer instructions went in to AT HBOS shares were a lot higher than they are now, this was the time that I had intended to sell. Considering litigation for the loss in value!

dunstonh

Certainly will, waiting for a return call from the FSA.

What a waste of time and money. You use the wrong forms (or complete them incorrectly) and now you are blaming Fidelity and referring it to the FSA.

GTG

dunstonh wrote: »

What a waste of time and money. You use the wrong forms (or complete them incorrectly) and now you are blaming Fidelity and referring it to the FSA.

edit: it's not me it is you. Look at what you have typed again and you will see that you are mixing up reregistration and transfer and you do indicate that you have asked Fidelity to put it into cash.

Please point out where I've indicated this?

Your jumping to conclusions again, if you read my posts I have n't blamed anyone and would not do so unless I can justify it.

Oh BTW dunstonh it was not my intention to be rude to you or anyone else for that matter and especially to someone that is trying to help.

dunstonh

I obviously do not want to lose the PEP wrapper so the only way I can see to achieve the transfer to ATS is to use Fidelitys switching facility to switch into a fund which ATS lists in their investment choices booklet.

That suggests transfer but it could read that you were looking to switch fidelity into a fund that was on the ATS list and then re-register. So, that could be either.

I confirm receipt of the following units which have now been re-registered into our nominee name:

Fidelity European Fund, Acc shares (Retail) x XXXXXX.XXXX

We have also received correspondence dated 18th July 2007 from Fidelity which confirms that they have processed the instruction to transfer your eligible PEP holdings to ourselves, however, they have been unable to process the entire instruction.

Fidelity have advised us that we cannot provide you with further information regarding the above.

The suggests you requested re-registration.

We recently received your request to re-register your Fidelity PEP holdings to Alliance Trust.

Fidelity's response suggests re-registration.

Fidelity do not allow you to sell PEP holdings and hold the proceeds in cash therefore a transfer of any PEP holdings from Fidelity to another plan manager is not possible.

This suggests you were trying (or wanted) to put the money into cash first which you cannot do with fidelity. However, fidelity can do it upon receipt of a transfer form (not re-registration form).

If you look at your post 24 you will see the first section relates to transfers and the second section relates to re-registration.

Transfer requests and re-registration requests are two different things. It appears that you have been choosing re-registration. You need to transfer. Fidelity are correct in rejecting re-registration as that is their right. However, they wont reject a transfer.

GTG

Quote:
edit: it's not me it is you. Look at what you have typed again and you will see that you are mixing up reregistration and transfer and you do indicate that you have asked Fidelity to put it into cash.
Please point out where I've indicated this?

I asked: Please point out "where I've indicated this.

Other than your first paragraph which you allude to ambiguity, (which if you read in the full context of what I said in that post in my opinion does n't stand up) you 've replied with "this suggests" "this suggests" "this suggest" hence my saying your jumping to conclusions. You've also failed to show me where I've blamed anyone.

So far I have had an apologetic reply from Fidelity and I am awaiting a call from the FSA just to confirm that they are acting in accordance with the regulations. Unfortunately, I like most people I know have a distrust of the financial services industry related to previous bad experiences. I will be informing them of the inaccuracy of their Client Terms as mentioned above and the absence of terms with regard to moving windfall shares to another plan manager.

GTG

oops what's going on

GTG

oops triple post