Waht happens to dividens if you are ex-div when you transfer platforms?

gterr

As title. I have transferred my S&S fund from HL to iii and the Vanguard LS funds (Income units) were ex-div when the transfer happened. Have pretty much zero faith that the dividends (payment day today) will end up in the right place. Any advice as to what _should_ happen, so I can watch out for it?


Also, am I right in thinking I only need to be concerned about my INC funds? My ISA also had ex-div VGLS funds when transferred, but these are ACC funds.


Thanks for your time


Apol for typos: struggling with a tiny keyboard just now.

noh

Your dividend should be collected by HL and then transferred to iii at some later date.

fozzeh

Depends how it was transferred and when it settles.

Generally, if it has gone ex but settles before rec, the receiving counterparty will get the dividend. The delivering counterparty will then put in a claim to correct their position but then pay it out as cash to the client/receiving broker. Silly process really but how it is done!

greenglide

In my case M&G sent me a cheque (an M&G fund direct with them).

It does only apply to Inc funds of course.

IronWolf

This happened to me when I transferred from iii to Saxobank. I waited a few months but nothing happened. iii basically pocketed the money and hoped I wouldn't notice. I had to message them and demand my money.

You're are safest assuming HL will try and keep it for themselves so get on their back about it.

Masomnia

I'd assume the money will go to HL, so keep an eye on it!