Iii

masonic

Has anyone else seen this:

http://www.moneysavingexpert.com/savings/stocks-shares-isas?&_ga=1.81087831.190072603.1421491063#interactive

How to transfer. Transfers take four weeks. You'll need to open an account and complete its transfer forms. There's a step-by-step process to do this, and telephone support on 0845 200 3637.

LIES!

le_loup

masonic wrote: »

Has anyone else seen this:

http://www.moneysavingexpert.com/savings/stocks-shares-isas?&_ga=1.81087831.190072603.1421491063#interactive


LIES!

No, no, no! It's been put up by a rogue member of staff in the name of irony.


... and incredibly funny.

JenniferK

masonic wrote: »

Has anyone else seen this:

http://www.moneysavingexpert.com/savings/stocks-shares-isas?&_ga=1.81087831.190072603.1421491063#interactive


LIES!

They missed out the fact that payments of dividends take ages.

sorcerer

Oh how i laughed at their choice of the word "cashback", it took me 7 months and a complaint to the FCA which was upheld, before i got my so called "cashback".

juliamarsh

[Deleted User] wrote:

Hi,



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.

I have no idea whether III were using the correct fund rebate percentage in the first place - very possibly not! - but am not sure how I would go about checking that. I just worked with the figures that they had provided and hoped for the best. Like you, I never even thought to question HL, but this lot are quite a different kettle of fish, you have to check every single thing they do in the minutest detail and more often than not it is wrong.

If you can show me a worked example of your calculation I could use it to try and work it out that way with my own funds and see whether I arrive at the same answer.

[Deleted User]

Hi,

juliamarsh wrote: »

I have no idea whether III were using the correct fund rebate percentage in the first place - very possibly not! - but am not sure how I would go about checking that. I just worked with the figures that they had provided and hoped for the best. Like you, I never even thought to question HL, but this lot are quite a different kettle of fish, you have to check every single thing they do in the minutest detail and more often than not it is wrong.

If you can show me a worked example of your calculation I could use it to try and work it out that way with my own funds and see whether I arrive at the same answer.

thanks for the reply Julia.

I am actually answering my own question.

Got my quarterly rebate on Saturday, and I am now able to access the Fund Rebate Statement to see the individual breakdown.

I am using year end values taken on 31/12/14 and am comparing to rebate paid 01/01/15, and using formula ((V*R)/Y)*M

Henderson European Growth: Value £10823, Rebate 0.75%,

((£10823*0.75%)/365)*31 = £6.89, II refund £7.00

Jupiter European Emerging Markets: Value £48968, Rebate 0.75%,

((£48968*0.75%)/365*31 = £31.19, II refund £30.30.

So not spot on, I have other funds to check, but looks as though there are minimal gains and losses, so should balance out.

I will take a note of valuations at end of each month and check again in July, when next payment due.

Edit: Rethink,

Mmm, I may be wrong, the payment on 01/01/15 won't be for the previous month (Dec), as II work 3 months in arrears.

I may be using the wrong fund value or number of days, so will recheck.

Gosh, my brain's getting addled.

masonic

[Deleted User] wrote:

Edit: Rethink,

Mmm, I may be wrong, the payment on 01/01/15 won't be for the previous month (Dec), as II work 3 months in arrears, so will recheck.

Gosh, my brain's getting addled.

This is why I'm waiting until my first quarter without any rebate in order to add all the prior rebates up to make sure they tally with what I should have received since migrating. If they are running behind schedule with dividends, tax credits etc, it would not surprise me at all if rebates are also out of sync with their payment timetable.

juliamarsh

It is enough to make your brain explode!!! I have just checked the latest statement and at least they have at last paid me on the correct no. of units, except for the 3 funds on which they have never paid me anything at all, which are still missing. They say they have never received rebates for these from FNZ and are looking into why not, how long that will take I shudder to imagine....

DiamondLil

Recently, I've found the service from III to be much improved.
Dividends are now being paid on time; deals being executed on time; and cash transfers in and out are immediate. (Whereas CSD are taking at least 36 hours to move cash between accounts and I'm still waiting for one cash transfer which I requested on Thursday last).
Secure messages also being answered promptly and my 'phone calls to them have been acted upon quickly.
I've even been called back first thing next morning, and the problem sorted as promised (I having stupidly had a senior moment when dealing and typed the wrong figure).

For me, their service has vastly improved. It's just over a year since I transferred to them and I am now beginning to feel happy with them.

ozzage

III told me to look at the Fund Rebate Statement to see the details of the tax reclaim for the BRT paid from my bond fund.

Isn't the Fund Rebate Statement actually to do with the refund of ongoing charges for the dirty fund classes?

Can somebody pls confirm that to me, and if I'm right, then where can I see the tax reclaim details?

Thanks