TD Direct sold to Interactive Investor

bowlhead99

tg99 wrote: »

For info I did ask TD if their current set up in this regard will remain once the integration with II is fully complete (as II do not currently cater for this I believe) but they were not able to confirm at this stage.

I suppose if you want to stay to "road test" whatever the new functionality is, you'll end up paying at least for the initial round of flat fees under the new structure. Probably not a huge amount in the grand scheme of things but I'd rather have clarity.

The impression I get from the questions different people have asked in this thread and got responses from either ii or TD:

- the TD software platform is the most recently updated and has the largest amount of assets, and so ii customers will be upgraded/migrated onto that platform and see more change from a platform perspective

- while TD customers will get a change from a fees perspective and also a rebrand because "TD" belongs to the North American TD group who are keen for the UK broker/platform rebrand to happen now they're no longer responsible for it after selling it off.

- So it is ii branding but not the old ii platform. However if some of the TD facilities currently offered are likely to be earning less money across the new customer base than they cost to maintain, you'd expect them to be dropped given the ultimate backers of ii and now TDDI are JC Flowers, a private equity investment group who are dedicated to investing in privately-held financial services businesses and developing their value to create gains for their investors.

LHW99

the TD software platform is the most recently updated and has the largest amount of assets, and so ii customers will be upgraded/migrated onto that platform and see more change from a platform perspective

Interesting, because II have been trying to bring out a new style platform for the last considerable time, which I have generally avoided using apart from an odd occasion.

EdSwippet

bowlhead99 wrote: »

... the ultimate backers of ii and now TDDI are JC Flowers, a private equity investment group who are dedicated to investing in privately-held financial services businesses and developing their value to create gains for their investors.

And by the same token, TD is a publicly listed bank that is dedicated to creating gains for its shareholders.

tusk

@ darkidoe,
I also have an ETF only ISA with TD and will be transferring. I don't need all the bells and whistles, so I'll probably go with X-O, no charges, cheap trading a very extensive range and all e-mails have been answered within a hour or so. I all ready have an account with iWeb and don't want all my eggs in one basket, but if you don't mind cheap and cheerful they are fine. Just make sure they carry the ETF's you want.

darkidoe

tusk wrote: »

@ darkidoe,
I also have an ETF only ISA with TD and will be transferring. I don't need all the bells and whistles, so I'll probably go with X-O, no charges, cheap trading a very extensive range and all e-mails have been answered within a hour or so. I all ready have an account with iWeb and don't want all my eggs in one basket, but if you don't mind cheap and cheerful they are fine. Just make sure they carry the ETF's you want.

X-O pricing looks very reasonable. IWeb looks even cheaper! How do you find IWeb interface compared to TD's platform? TD's platform is actually very decent with very up to date pricing and information and simple to use. IWeb is probably my top choice to switch to for now.

Do they publicise the range of funds or etfs available on their platform somewhere??

JohnRo

iWeb's account portal is fairly basic but functional, account data retrieval options are limited but on screen it's perfectly adequate and very much improved since the recent facelift imho.

cloud_dog

darkidoe wrote: »

X-O pricing looks very reasonable. IWeb looks even cheaper! How do you find IWeb interface compared to TD's platform? TD's platform is actually very decent with very up to date pricing and information and simple to use. IWeb is probably my top choice to switch to for now.

Do they publicise the range of funds or etfs available on their platform somewhere??

Just for clarity, X-O do not offer OIECs/UTs.

There is also SVS XO, who are similarly cheap but do not offer OIECs/UTs.

tusk

@ darkidoe, i Webs site is very basic compared to TD's I do my research elsewhere. As far as I can see they do not have lists of their ETFs I think I asked the question sometime ago and received a no answer. If you go to their "research center" and into shares for ETFs put in the ticker and it will tell you if you can deal your choice.If you just put in ETFs you get a huge list but you can't trade them all. A bit long winded especially if you keep getting knocked back. For funds go into funds put in ticker or search options and a list will come up.

tusk

@darkidoe, if you already have investments probably the easiest way would be telephone or e-mail them to find out if they carry them, thats what I did before I originally opened an account.

Nerdlinger

I think by now my ISA transfer to IG is complete. The ISA account was closed as soon as the share portfolio was transferred (this took a few weeks) but the dividends accrued (gone ex-dividend) but not paid up to that date were quietly collected by TD and eventually transferred to IG, unitemised, after the last one was paid. I'd advise anyone transferring their ISA to wait until the dividends had all been paid before closing the account so you can at least monitor it.

IG appear to pay divis into the account a day late and cash transfers out then take 24 hours plus. Being a flexible ISA the amount you are allowed to subscribe in the current tax year is displayed and this amount increases as you withdraw dividend payments. I've also just withdrawn my £250 transfer incentive.

I like the 2 stage security on the account login. There is a way of viewing a list of the shares and their value etc but you have to open the "classic" version of the website, bit weird, I suppose it is just more of a bookmaker than a stockbroker. The total value is displayed on the "dashboard" page and appears to be updated live which Google Finance's portfolio service doesn't do but this serves no real purpose. I got a flurry of emails offering assistance in getting started with trading which I found easy to ignore.

On the whole I am quite pleased with the transfer as I think I've ended up with a better service and a bit more cash, I wouldn't even have considered switching if TD/II hadn't threatened to introduce platform fees.