Best Fund Platforms for Quick Dividends Payout

lejog2003

Nixter wrote: »

So, I have an interest paying fund which "disappeared" from HL in May but has yet to show in my iii account.

Does anyone know who bears responsibility for handling dividend payments while the fund is stuck in no mans land?

I now have already three months worth of missed payments...

The funds manager will undoubtably pay the funds to whoever the fund is still registered, thats what happened to me anyway when I transferred from Cavendish/Fidelity to iii, Fidelity continued to pay out dividends promptly on 1st month even though the funds were no longer shown in the account. It was only when the funds arrived at iii that dividend payment has crawled to a halt.

I've phoned iii and their front line staff admitted there was a problem, but all I eventually got was a long message effectively saying payments haven't been received from this mysterious FNZ.

In your shoes I might contact the funds manager directly and ask them to whom they've paid your money. Both HL and iii seem to be in total chaos at the moment.

lejog2003

sorcerer wrote: »

I have been with interactive investor now for about 3 months and I have basically had enough with them, so I am thinking of moving. I need somebody who pays dividends on time, but also won't charge me a small fortune. It will be an ISA worth about £100,000.

Oh and sorry need somebody who isn't based in Scotland.

Any ideas.

Just to rub it, according to wiki this FNZ outfit moved its headquarters from New Zealand to Edinburgh 2 years ago.

I wonder how much of iii's IT capability they are providing.

le_loup

sorcerer wrote: »

To be honest I sent them secure message weeks ago, and they haven't responded to them.

Recently I have put my repeated questions to them as a complaint. They do then reply in a couple of days.

Nixter

lejog2003 wrote: »

In your shoes I might contact the funds manager directly and ask them to whom they've paid your money. Both HL and iii seem to be in total chaos at the moment.

Thanks, I shall fire away an e-mail to Threadneedle then. However, I'm not setting my hopes too high as it took a month for them to reply when I had a query last year.

Oh well...

noh

Nixter wrote: »

Thanks, I shall fire away an e-mail to Threadneedle then. However, I'm not setting my hopes too high as it took a month for them to reply when I had a query last year.

Oh well...

They wont know where your money has gone because the funds are registered in the name of the nominee company used by the platform not in each individuals name.

Nixter

noh wrote: »

They wont know where your money has gone because the funds are registered in the name of the nominee company used by the platform not in each individuals name.

Thanks for pointing that out! :mad:
So, really, the only thing we can do is to write down the dates of missing dividend payments and then complain to the FOS?

sorcerer

That what I'm going to do, make a list of all of the things they owe me, and send it over the FCA. Such as the £120 cash they offered me for the transfer (not paid), the tax rebates not paid and the missing dividends. it's going to start to add up to whole lot of money, after I have given them the 8 weeks to NOT respond to my complaint.

Nixter

Just as I was about to tear my hair out, I noticed that I received my first Tax Reclaim!

However, being iii, there appears to be no details as to which month it refers to, so I will have to send them another message for clarification and wait at least a month for the answer. :mad:

I suspect I received the tax reclaim for the month of May 2014.

le_loup

......... and so the merry-go-round goes round.

sorcerer

Nixter wrote: »

Just as I was about to tear my hair out, I noticed that I received my first Tax Reclaim!

However, being iii, there appears to be no details as to which month it refers to, so I will have to send them another message for clarification and wait at least a month for the answer. :mad:

I suspect I received the tax reclaim for the month of May 2014.

Yep me too, I suspect that it's two months worth, because they duplicate themselves for me, but like you no idea for which months they are for.