Iii

Nocto

LHW99 wrote: »

My OH has had his Invesco Perpetual Monthly Income Plus units in his SIPP converted into Z income units (although still waiting for Invesco to confirm that II has done it right) - except he already holds the Z Gr units.
You'd have thought they'd have converted it to the same ones!

I’ve just looked up IP Monthly Income Plus on Trustnet, and I see that like the Newton funds it has umpteen different classes of clean unit.

I suspect that the minions (probably of the small yellow variety…) at II have been staring at their computer screens in confusion before deciding, “That one looks about right!”

Nocto

planteria wrote: »

if they have converted to a fund other than the cleanest available, what can be done about it? request them to convert it again?

If they haven’t converted a fund to the cleanest units available on their platform then I think it’s perfectly reasonable to request that they convert it again.

It would be different if I had purchased the wrong units in error. But it looks to me like they have made a mistake (subject to confirmation - I may be wrong), so they should put it right.

juliamarsh

I contacted II about the 4 funds that had not been converted to the versions with the lowest ongoing charges - 3 were Newton, one Marlborough Special Situations. They said they would check the versions I had suggested were available on their platform (which I had already done) and then get their Conversions Team to change my holdings to those for me so I will report back how I get on.

I am still awaiting quite a few dividends that were due on 28th February and one that was due on 26th. The issue with not being able to view the trading history on my SIPP appears at last to have been properly resolved when I checked today, but their failure to pay me the full amount due on my fund rebates for June - August is still ongoing 3 months after I first raised it with them.... SIGH!!!! Rang Julie Baxter this afternoon as she had not replied to the chaser I emailed her 8 days ago and I have had to send details again.....would be great if she could finally get it sorted but I know it won't be long until something else crops up!!

xylophone

All dividends for end February (5) now received!:T

Nocto

juliamarsh wrote: »

I contacted II about the 4 funds that had not been converted to the versions with the lowest ongoing charges - 3 were Newton, one Marlborough Special Situations. They said they would check the versions I had suggested were available on their platform (which I had already done) and then get their Conversions Team to change my holdings to those for me so I will report back how I get on.

I am still awaiting quite a few dividends that were due on 28th February and one that was due on 26th. The issue with not being able to view the trading history on my SIPP appears at last to have been properly resolved when I checked today, but their failure to pay me the full amount due on my fund rebates for June - August is still ongoing 3 months after I first raised it with them.... SIGH!!!! Rang Julie Baxter this afternoon as she had not replied to the chaser I emailed her 8 days ago and I have had to send details again.....would be great if she could finally get it sorted but I know it won't be long until something else crops up!!

Well you seem to have made more progress than me. When I spoke to them last week about the unit class of my clean Newton funds, they said that they’d look into it and get back to me… So far there’s been a deafening silence!

If I don’t hear anything by the end of the week I’ll secure message them just requesting that they convert the holdings to the cleaner units.

I’ve not yet received any Feb 28th dividends - due three.

My final dirty fund has been converted - correctly. :T

juliamarsh

Nocto wrote: »

Well you seem to have made more progress than me. When I spoke to them last week about the unit class of my clean Newton funds, they said that they’d look into it and get back to me… So far there’s been a deafening silence!

If I don’t hear anything by the end of the week I’ll secure message them just requesting that they convert the holdings to the cleaner units.

I’ve not yet received any Feb 28th dividends - due three.

My final dirty fund has been converted - correctly. :T

I sent them a secure message at 5 o'clock last night and got a reply back at 11 o'clock this morning which was pretty prompt for them. I didn't bother to phone, I like to keep a tangible record as much as I can these days after all the problems there have been. We will see how quickly they crack on with getting the funds converted into the correct class.

lejog2003

I'm pleased to report that I am finally free of iii having closed my account in December 2014, they have finally sent me a cheque for all money owed. :beer::j

Ironically I just noted this story on The Guardian website, can I suggest that anyone with outstanding problems contacts Ms Timms?

My money has disappeared and the online investment firm won't respond

I invest via Interactive Investor, a share and fund dealing platform. At the beginning of December I noticed £1,221 had disappeared from the uninvested cash balance on my trading account. There had been no transactions to account for this. I contacted Interactive Investor immediately, but have had no proper response in eight weeks. The money is still missing. I dug through the data and found the source of the discrepancy – an incorrect calculation on my statement. I sent this on, but Interactive Investor has done nothing. MW, Chester

Interactive Investor opaquely blames a technical issue that meant specific entries were not displayed properly on your statement. However, it insists the incorrect figures did not affect the value of your holdings at any point, and the money was missing only on paper.

To you they give the rather different explanation that the discrepancy was the correction of an earlier mistake, but nobody got around to telling you. It’s decided to pay you £200 for the inconvenience. I’d continue to keep a close eye on your funds, if I were you. (:rotfl: :rotfl:- my smilies)

If you need help email Anna Tims at [EMAIL="your.problems@observer.co.uk"]your.problems@observer.co.uk[/EMAIL] or write to Your Problems, The Observer, Kings Place, 90 York Way, London N1 9GU. Include an address and phone number

le_loup

lejog2003 wrote: »

I'm pleased to report that I am finally free of iii having closed my account in December 2014, they have finally sent me a cheque for all money owed. :beer::j

Congratulations. Welcome to the club.

Nocto

Received a secure message today telling me that they’ll be converting my Newton Global Income fund to the cleaner ‘W’ units.

Also all Feb dividends received.

Paulrm71

I've had the same email from them. I have advised them that I wish to be using the lowest fee class whether it is the 'b' with a 0.5% rebate or the 'w'. Strangely enough they didn't mention the current B class as being the lowest charge, so perhaps the rebate is a mistake? Just about to write moaning about late dividends but mine turned up yesterday.