Iii

slinga

So what's the eventual consensus?
Is it worth the time and effort transfering ISAs from HL to iii.

How long is the transfer period?

Should the switch between dirty and clean funds be done at HL before transfer?

le_loup

slinga wrote: »

So what's the eventual consensus?
Is it worth the time and effort transfering ISAs from HL to iii.

Have you read this thread?

As for the transfer period - infinite!

xylophone

So what's the eventual consensus?
Is it worth the time and effort transfering ISAs from HL to iii.

II is cheap. If you have Inc funds, don't expect prompt payment of the dividends (but they do usually arrive within the month).

You need to keep an eye on the admin but they do eventually manage to get it right.

If you do choose to transfer, it would probably be advisable to sell in HL, transfer cash to II, and buy clean from the start.

slinga

xylophone wrote: »

If you do choose to transfer, it would probably be advisable to sell in HL, transfer cash to II, and buy clean from the start.

Does that work with ISAs???

xylophone

Does that work with ISAs???

Yes - a relative sold the funds within his HL ISA leaving the cash within the ISA, then approached II to arrange the transfer of the cash to the II ISA.

xylophone

http://www.iii.co.uk/step-by-step-transfer

You will note that it is said to be possible for cash to be transferred within a fortnight - in fact, the transfer of cash by my relative (in fact a couple of relatives) went quite smoothly. (post 318).

My funds transfer took place within eight weeks.

I am in process of transferring part of a cash ISA to II - that has not gone smoothly but I am hoping to see the money in my account by the end of the month - I'll keep the thread posted....

[Deleted User]

Hi,

JasonPr wrote: »

I haven't yet been told when my funds will be converted but I already have a question. I assume the conversion will show up as a regular sale/buy (but without CG liability). Does this mean I'll have an equalisation payment when dividends are paid?

this is the first message I got regarding the conversion of my funds, others are similar.

Conversion of Dirty Funds to Clean Class alternatives

You may be aware our regulator, the Financial Conduct Authority (FCA), has instructed all fund providers to undertake an exercise to convert "dirty" funds to "clean" class alternatives by April 2016. We are therefore just about to start the process where we will be converting your "dirty" funds to the equivalent "clean" funds. Funds that are typically described as "dirty" have trail commission paid. We have been passing this trail commission on to you, and typically, funds that are classed as "clean" have no trail commission paid.

The conversion from "dirty" funds to "clean" funds will mean that we will no longer pass to you the trail commission that you have been receiving, and the new "clean" fund will have a lower Annual Management Charge (AMC) than the current "dirty" fund.

This change means that where you have previously received trail commission, this will no longer be paid. However, you will not be financially disadvantaged. We will only convert your holdings if the cost of the new share class is equal to, or less than, your existing holding. For the avoidance of doubt we will not convert your fund holding if it is to your disadvantage.

Due to the size of this exercise we will stagger our approach in our conversion. This notification is to inform you that we will start the conversion of FP CRUX European Special Situations A Acc GBP (GB00BTJRPW12) to FP Crux European Special Situations I Acc GBP (GB00BTJRQ064) from 15 December 2015. Please note that if you do not wish us to take this action you must sell your holding before this date. Our usual commission costs will apply. Please note that as we undertake this exercise you may be unable to trade for a period of up to 10 business days from 15 December 2015. During this time there is significant operational work involved between ourselves and the relevant fund manager.

If you still hold FP CRUX European Special Situations A Acc GBP (GB00BTJRPW12) fund on 15 December 2015, we will convert your holding to the clean holding identified. In the event that during this process the fund manager advises the new chosen fund is not available, we will inform you of the replacement proposed fund before we make a change.

We will also write to you on completion so that you can view and trade on your new clean holding. Please note that the value of your investment will not change from the original fund to the new clean alternative as your holdings will be converted on a value to value basis. However, you may see a difference in the quantity of units received in the new fund.

Please note that you will receive a similar communication for each dirty fund that you hold. Should you wish further information on the clean fund conversion, please click on the https://www.iii.co.uk/funds/product/clean-funds/faq where you will find information on our website.

If you have any questions, please call us on 0345 200 3637 between 7.45 am and 7.00 pm, Monday to Friday.

Yours sincerely


As yet nothing has been converted.

Allots

slinga wrote: »

So what's the eventual consensus?
Is it worth the time and effort transfering ISAs from HL to iii.
t

I would spend a little time reviewing these threads. Ok, II is cheap but it simply is not worth all the aggravation. You will need to review everything they do. A lot of their admin is outsourced and II appear not to have adequately experienced staff to check the work done by the companies they outsource to. I have checked everything that they have done on my account and in most instances there have been mistakes, some of which remain unresolved several months down the road!

JenniferK

Allots wrote: »

I would spend a little time reviewing these threads. Ok, II is cheap but it simply is not worth all the aggravation. You will need to review everything they do. A lot of their admin is outsourced and II appear not to have adequately experienced staff to check the work done by the companies they outsource to. I have checked everything that they have done on my account and in most instances there have been mistakes, some of which remain unresolved several months down the road!

Personally I don't think the agro is worth it. After much frustration I transferred from iii to Youinvest. The difference in service is amazing.

juliamarsh

xylophone wrote: »

II is cheap. If you have Inc funds, don't expect prompt payment of the dividends (but they do usually arrive within the month).

You need to keep an eye on the admin but they do eventually manage to get it right.

It is true that II is cheap but I don't agree that they eventually get the admin right.The admin is a never ending battle month in, month out, it is so much hassle and so time consuming and I honestly don't think they are ever going to get it right. Each time you go through all the aggro of sorting something out, and think maybe that is it, the next week there will be something else, it is relentless. Honestly slinga, my advice is that it isn't worth it. Now I am with them I will probably stay, in part because I can't bear the thought of the mess up they would make if I transferred out plus all the cost and stress, but if I knew what I know now when I began the transfer there is no way I would have done it. There are other providers that are cheaper than HL yet provide a much better service than II so I would advise you go with one of those. People are saying that AJ Bell is good and they are not that much more expensive than II.