Iii

juliamarsh

Newton Asian Income dividend has arrived finally....but the fund rebate calculations are still wrong!!! More stuff to trawl through and wrangle over.....

Allots

juliamarsh wrote: »

Newton Asian Income dividend has arrived finally....but the fund rebate calculations are still wrong!!! More stuff to trawl through and wrangle over.....

And apparently the rebate calculations are automated!!! So it's not someone unable to make a calculation but a system issue. I dread the conversion to 'clean units'. what kind of mess will that be?:eek:

juliamarsh

They failed to pay commission rebates on some of my funds at all, even when they had been in my account for the whole of the month in question, and others were not applied from the beginning of the time that they were held in my account. There are 4 funds that I have never received any fund rebates on, despite always receiving them monthly from Hargreaves Lansdown, and they tell me that they have not received trail rebate from FNZ for these, so another layer of incompetence if FNZ are involved as well. Clearly I am entitled to the rebates but no doubt it is going to be a mammoth battle to get them. How many other clients have been short changed but haven't realised I wonder?

masonic

juliamarsh wrote: »

They failed to pay commission rebates on some of my funds at all, even when they had been in my account for the whole of the month in question, and others were not applied from the beginning of the time that they were held in my account. There are 4 funds that I have never received any fund rebates on, despite always receiving them monthly from Hargreaves Lansdown, and they tell me that they have not received trail rebate from FNZ for these, so another layer of incompetence if FNZ are involved as well. Clearly I am entitled to the rebates but no doubt it is going to be a mammoth battle to get them. How many other clients have been short changed but haven't realised I wonder?

I have one more quarter to wait and I'll have a complete picture of the total rebates I've received from II, from which I can start the process of reconciliation. It is too unclear to do it while I have any trail commission outstanding, but now that I no longer hold any dirty class units, I will soon be able to calculate what I actually received vs what I should have received.

As you say, II are contractually obliged to pay this money regardless of whether or not their service provider has let them down. Take heart in the happy end result posted today from someone who had some cash go missing during their transfer and was paid compensation in cash as well as receiving units equivalent to the opportunity cost of them not being able to invest their money promptly into their chosen investment.

Michael_Nottingham

masonic wrote: »

Aren't they supposed to be taking the next set of platform fees on Saturday?

We normally get a secure message confirming the date several weeks in advance. I could do with the trading credit next week as it's the new tax year and I have a couple of things to load up on in my ISA.

In terms of next fees / trading credit - I had a secure message at 6:40pm
"Our £20 quarterly charge is due and will be taken from your account on Saturday, 11th April 2015. This is a little later than usual due to the collection date falling over Easter. When collecting the fee we will apply £20 of commission credit."

sorcerer

I thought was close to finishing with these bunch of clowns, but looks like some dividends that pay only Quartley might still be with them. So I know face another two months of questions and them ignoring me, then a complaint blah blah blah.
I started the transfer out process 7 months ago, and I think some fund providers have only just got round to re-registering me. Has nobody ever heard of this thing called a "Computer".
Sorry just ranting today.

JenniferK

sorcerer wrote: »

I thought was close to finishing with these bunch of clowns, but looks like some dividends that pay only Quartley might still be with them. So I know face another two months of questions and them ignoring me, then a complaint blah blah blah.
I started the transfer out process 7 months ago, and I think some fund providers have only just got round to re-registering me. Has nobody ever heard of this thing called a "Computer".
Sorry just ranting today.

Ask you new provider for the fund settlement date then you can work out who is responsible for the dividends.

Nocto

All March dividends received!:j:j

As I mentioned before a 15th March dividend was received on the 19th. To my complete surprise my other two March dividends (due 31st) were paid into my account yesterday…

Whilst this wouldn’t be worthy of comment with any other stockbroker, it is quite an improvement in service for II.;)

sorcerer

JenniferK wrote: »

Ask you new provider for the fund settlement date then you can work out who is responsible for the dividends.

Thanks Jen, just dropped them a note to ask for the date's at least I can then work out how much II owe me.

DiamondLil

All of my March dividends were in my account by 2nd. April.
I had to 'phone the help desk on Wednesday evening re. a hitch on the website with a deal; I got through fairly quickly and was promised that the problem would be sorted first thing Thursday morning and it was, indeed, sorted first thing.