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SIPP transfer - 6 months and still not complete
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Harrycane
Posts: 3 Newbie
Does anyone else have experience of slow SIPP transfers? I started a transfer from Bestinvest to Fidelity in late March. There was a flurry of reregistrations in July, but the transfer is incomplete. I've been chasing this up with Fidelity, and they have been investigating, but still no resolution. Between my wife (similarly transferring) and me there is somewhere in the region of £150,000 yet to come through. Starting to get worried.
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Comments
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What is the cause of the delay and who is responsible for it?
https://www.moneymarketing.co.uk/sipp-customer-compensated-transfer-delay/0 -
cash transfers are the quickest way. in specie transfers can be sluggish and take a long time. Sometimes longer than 6 months.
Do remember that with in-specie transfers, you are not losing money as the investment is still in place.I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0
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