Interactive Investor - An Incompetent Firm

masonic

le_loup wrote: »

Next time - if I can face it - it'll be cash, I will pay the repurchase price, I will be out of the market. As you say, in the grand scheme of things, it's a mere bagatelle!

Now that I'm on a plaform that has dealing charges for funds, I'm discovering the virtues of ETFs and ITs. Apparently these have transferred a lot more quickly in specie than funds, so I might be in a much better position next time I need to jump ship.

Chickereeeee

I am in the process of transferring from HL to iWeb. It is taking a LONG time, but iWeb have written to me several times saving they keep on trying to contact HL, but they are slow to respond (if at all). They asked ME to chase HL as well. It would seem that HL are the problem there, then.

iWeb live chat is quick and quite useful. Given time to look it up, they can tell me the curent status.

I have a SIPP with Youinvest who use AJ Bell: no problems at all.

rusty69

I am also in the process of transfering one fund from HL to Iweb. I am now 3 months into the process, with continual prompting from me to both parties. HL blame Iweb, and Iweb blame HL. The one (Vanguard fund) disappeared from HL over a month ago, and has not re-appeared anywhere. Today, Iweb tell me they are chasing Cofunds, who they are I do not know, but cannot get a firm transfer date off anyone. The whole process appears to be a complete shambles!

Chickereeeee wrote: »

I am in the process of transferring from HL to iWeb. It is taking a LONG time, but iWeb have written to me several times saving they keep on trying to contact HL, but they are slow to respond (if at all). They asked ME to chase HL as well. It would seem that HL are the problem there, then.

iWeb live chat is quick and quite useful. Given time to look it up, they can tell me the curent status.

I have a SIPP with Youinvest who use AJ Bell: no problems at all.

OldDIYer

Website hard work!

Eg tried to buy an IT today but the search from within my a/c came up with nothing, so I found it via their ITs page clicked on 'buy' - took me back to the trading page but it was blank! Eventually found the IT somehow. It's name was abbreviated (Hend. for Henderson & Opps for Opportunities) explaining why my first search failed. I occasionally had similar problems at HL but not this bad.

Also, I got a ridiculously low price for a share sale (which I should have noticed, but didn't) so part of my saving from switching has gone!

Can I face another transfer saga?

Where to?

No fee if within first year though!

And I would definitely sell everything and transfer cash!

(Two ISAs and one Trading a/c - maybe do them one at a time to help spread the risk of being out of the market)

le_loup

trevbrierley wrote: »

(Two ISAs and one Trading a/c - maybe do them one at a time to help spread the risk of being out of the market)

That sounds like a very good idea.

dodger1

le_loup wrote: »

I have immense sympathy having had myself a few similar problems. It has been going through my head to crawl back to H-L - very undecided - starting the whole process again fills me with dread.
I too need a fixed fee; Halifax, from memory, did not cover some of my funds.

Don't, daughter has recently joined them, so far three letters and one secure message completely ignored, not even any acknowledgement. Have signatures for all the letters.

I guess from your "crawl back" quote that you weren't happy with them previously, based on my daughter's recent experience nothing has changed.

Nixter

It seems like all low cost platforms are either incompetent or unable to cope with the influx of new customers.

I wish there was a way to bypass the whole platform industry and invest your SIPPs or ISA's directly directly through the fund manager instead.

masonic

dodger1 wrote: »

Don't, daughter has recently joined them, so far three letters and one secure message completely ignored, not even any acknowledgement. Have signatures for all the letters.

Interesting. It seems like the fallout from the RDR is that everyone has to suffer poor customer service while the platforms run around like headless chickens trying to swap customers. I only hope things return to normal once all this movement eventually subsides.

Eco_Miser

Nixter wrote: »

It seems like all low cost platforms are either incompetent or unable to cope with the influx of new customers.

I wish there was a way to bypass the whole platform industry and invest your SIPPs or ISA's directly directly through the fund manager instead.

I don't know about SIPPs, but many fund managers are also ISA managers. The downsides are that they mostly only offer their own funds, and don't discount their charges.

dodger1

dodger1 wrote: »

Don't, daughter has recently joined them, so far three letters and one secure message completely ignored, not even any acknowledgement. Have signatures for all the letters.

I guess from your "crawl back" quote that you weren't happy with them previously, based on my daughter's recent experience nothing has changed.

Update that you couldn't make up, daughter received an email yesterday stating that she has a secure message to view. Opens up her account and no message, still the same this morning, how are these institutions allowed to be so incompetent.