Iii

archery

I am currently with III will be moving account later this year
only paid £96 for the sip fee a few months ago

so may as well make the most of the fee paid

I have isa, shares and sip, but believe aj bell help with fees that
get charged to move

eyeonretirement

I think my patience with III has reached an end, after sending in a new contributions form (by snail mail) on the 18th April Interactive investor have failed to changed the direct debit by 6th May and the old contribution amount was taken. They say they needed more time ( 10 days). Its a minor mistake and will take a little grovelling to my company accountants but they made the same mistake last year along with all the others they have made from the transfer in process to switching to clean funds. I have no faith in these people, they still haven't replied to my two secure messages I sent about the new contribution.

When I do retire and go into drawdown I want a relaxing retirement and not spending all my time scrutinising everything little transaction my platform does. Its off to find out if A J Bell are offering £500 for a SIPP transfer and £500 for an ISA but to be honest I am willing to spend money to move.

coyrls

eyeonretirement wrote: »

I think my patience with III has reached an end, after sending in a new contributions form (by snail mail) on the 18th April Interactive investor have failed to changed the direct debit by 6th May and the old contribution amount was taken. They say they needed more time ( 10 days). Its a minor mistake and will take a little grovelling to my company accountants but they made the same mistake last year along with all the others they have made from the transfer in process to switching to clean funds. I have no faith in these people, they still haven't replied to my two secure messages I sent about the new contribution.

When I do retire and go into drawdown I want a relaxing retirement and not spending all my time scrutinising everything little transaction my platform does. Its off to find out if A J Bell are offering £500 for a SIPP transfer and £500 for an ISA but to be honest I am willing to spend money to move.

You may find that AJ Bell are cheaper in drawdown; the drawdown charges for III are quite high. I think the AJ Bell offer is for up to £500 per account.

SIPP administration should be one of AJ Bell's strengths, as they started as a SIPP provider. III do not manage their SIPP, the Interactive Investor SIPP is provided by The Lifetime SIPP Company Ltd.

eyeonretirement

I think that's why when making any changes with the SIPP it takes so long and mistakes are made because messages have to be relayed back and forth. They should have had time to iron the wrinkles by now but if anything they are worse. Good to know drawdown could be cheaper.

eyeonretirement

I have just A J Bell confirm its £500 per person not per account they will pay to transfer so by the time I pay III's charge of closing the SIPP and transferring in specie (£360 +vat) plus £15 per fund its not going to be cheap (20+ funds) but it may still be worth it. I have saved more than that in one year by moving from HL.

coyrls

eyeonretirement wrote: »

I have just A J Bell confirm its £500 per person not per account they will pay to transfer so by the time I pay III's charge of closing the SIPP and transferring in specie (£360 +vat) plus £15 per fund its not going to be cheap (20+ funds) but it may still be worth it. I have saved more than that in one year by moving from HL.

I think you've looked at the closure charge (£360+VAT), I think you need to look at the transfer charge ("Full or partial transfer-out of pension benefits to another pension provider") which is £100 +VAT.

xylophone

Oh dear - just when I thought it was safe to come out of the water......duplicate tax reclaim....I know it is a duplicate and that I am not due this money and have pointed this out (twice by message and once on the phone) but they are still investigating.....:eek:

xylophone

Mind you, it seems that AJ Bell is now giving problems....

https://forums.moneysavingexpert.com/discussion/5464251

Nowhere to run to.....:D

Imnoexpert_2

A while ago I asked III to explain about fund conversions from dirty to clean as I was concerned that the 'bought' and 'sold' dates on my trading statement sometimes differed and I was interested to find out if this meant I was out of the market for a few days on some funds and therefore potentially suffered a gain or loss due to that.

After being told they would give me this information and waiting a good while I chased them up and they now say the conversion was a corporate action not a sale and buy and so they can't give me any information other than the conversion rate. On the other hand they have used the terminology 'sold' and 'bought' and have now provided a conversion date which differs from both dates in one case I have checked. They also say there was 'minimal movement' (whatever that means). and there was no 'real transaction' (whatever that means).

Can anyone explain this? Am I wasting my time trying to check this?

xylophone

Am I wasting my time trying to check this?

Is this a rhetorical question?:)

http://www.iii.co.uk/funds/product/clean-funds/faq

"During the conversion to clean funds, will there be any dilution or other charges applied by the fund manager?

This is a conversion at fund manager level, rather than a sell and buy, and as you already own the assets, no initial charges or dilution levy charges would be applied by the fund manager."

Are we any the wiser......:(