Iii

xylophone

Mine too.....:j

sorcerer

You guys are the lucky ones then, because mine haven't turned up as usual.

juliamarsh

All my March dividends were in in a timely fashion, but thankfully there were only 2 in the first place! However on the downside I spent the whole of Good Friday trawling through their breakdown of my amended commission rebates to check and correct it. At least they paid me some money, albeit not everything I am owed. The saga continues....

le_loup

Aw, come on, what else could you do on a wet holiday?
I think III have been very kind to you and stopped you going out and spending money!

xylophone

Relative is disgruntled - he had a secure message on 10 March to inform him that his Standard Life special dividend would be in his account "on or around 1 April" - not having received it, he rang to be advised that II had "received the dividend in bulk"( he wasn't actually expecting SL to send someone round specially with his payment;) )and had to reconcile their accounts - they hoped he would have it by the end of the week.....

I am more than ever convinced that there is one clerk, a ledger and a quill pen......I advised repeating the mantra (cheap, cheap) until he felt calm again...:)

badger09

xylophone wrote: »

I am more than ever convinced that there is one clerk, a ledger and a quill pen......I advised repeating the mantra (cheap, cheap) until he felt calm again...:)

Perhaps the quill broke on Thursday and QuillsRUs was closed over the Easter bank/public holiday

sorcerer

xylophone wrote: »

Relative is disgruntled - he had a secure message on 10 March to inform him that his Standard Life special dividend would be in his account "on or around 1 April" - not having received it, he rang to be advised that II had "received the dividend in bulk"( he wasn't actually expecting SL to send someone round specially with his payment;) )and had to reconcile their accounts - they hoped he would have it by the end of the week.....

I am more than ever convinced that there is one clerk, a ledger and a quill pen......I advised repeating the mantra (cheap, cheap) until he felt calm again...:)

On or around 1st April, now that is funny, mine were due the 31st March, and i would be surprised they all turned up in April, without 10 or 12 secure messages and phone calls to their "Help" desk. The longest i had to wait for a dividends was 3 months, and only got it after i threatned them with the FCA again. I am expecinting the same battle for my April dividends.

Allots

juliamarsh wrote: »

All my March dividends were in in a timely fashion, but thankfully there were only 2 in the first place! However on the downside I spent the whole of Good Friday trawling through their breakdown of my amended commission rebates to check and correct it. At least they paid me some money, albeit not everything I am owed. The saga continues....

I would be interested (if you are willing to share this info) to understand the method you have used to calculate the rebates as I wish to do the same. Are you simply checking that they have calculated using the correct number of units for each holding or did you apply a percentage rebate against an estimated average value of the holding for each fund per month? Or some other method?

juliamarsh

Allots wrote: »

I would be interested (if you are willing to share this info) to understand the method you have used to calculate the rebates as I wish to do the same. Are you simply checking that they have calculated using the correct number of units for each holding or did you apply a percentage rebate against an estimated average value of the holding for each fund per month? Or some other method?

It is difficult to be exact, not knowing the method they have used. Where rebates were never received at all (with 3 of my funds) there is no way of telling what is due except to look at what HL paid (bearing in mind they didn't pay them out in full). With others they paid them on an incorrect no. of units. Here is an example I gave them to explain the method I used for the calculations:-

'My holding of 35946.20 units in Fidelity Target 2020 was credited to my account on 13th March. In order to calculate the average no. of units, I divided the full no. of units by the no. of days in the month and then multiplied this figure by the number of days in the month that the fund was in my account: 35946.20 units divided by 31 days = 1159.5548 X 19 days = 22031.541 average units held, not 16,233.7677 as they stated. To calculate the amount of commission rebate I should have received, I divided the commission received by the average no. of units they quoted and then multiplied it by the average number of units it should have been. Thus £5.66 divided by 16233.7677 X 22031.541 = £7.68.'

Hope that helps but if you need any further explanation I will try my best!

[Deleted User]

Hi,

juliamarsh wrote: »

Here is an example I gave them to explain the method I used for the calculations:-

'My holding of 35946.20 units in Fidelity Target 2020 was credited to my account on 13th March. In order to calculate the average no. of units, I divided the full no. of units by the no. of days in the month and then multiplied this figure by the number of days in the month that the fund was in my account: 35946.20 units divided by 31 days = 1159.5548 X 19 days = 22031.541 average units held, not 16,233.7677 as they stated. To calculate the amount of commission rebate I should have received, I divided the commission received by the average no. of units they quoted and then multiplied it by the average number of units it should have been. Thus £5.66 divided by 16233.7677 X 22031.541 = £7.68.'

Were you able to verify that II were actually using the correct fund rebate percentage in the first place?

I should get my second full quarterly payment today, since my transfer from HL just over a year ago (had all the problems reported by others).

There have been no changes to my funds, so will have a trawl through the figures and compare.

Funny thing is, with HL, I just accepted their payment, but with II I'm wary.

Would you agree with this calculation, maybe a bit more footery than yours, but should come to the same answer.

As II calculate rebate on 1st of the month, then take value of fund (V) on last day of the previous month, multiply by rebate value (R), divide by 365 (Y) and multiply by days in month (M).

((V*R)/Y)*M

I've got quite a few funds, so might set up a spreadsheet, though suppose rebates will stop if II ever get round to converting to clean funds.