Interactive Investor finally improves?

MallyGirl

So far I have only been transferring in to a new SIPP - a process I had just started a couple of weeks before the merger was announced. It has actually been a fairly painless process - any delays have been the fault of the various outgoing providers.
I am also transferring my ISA but it is early days on that one.

greenglide

TBC15 wrote: »

Is it only people who rely on dividends who are experiencing problems ?

My investments with II are all ITs which are held for dividends.

Since the II takeover I continue to receive the dividends exactly as before but I am an ex TD customer but I wouldn't think that would be any different which the II accounts were moved over to the TD platform.

philng

The problems will start if you try & transfer away:

1) unwarranted delays
2) lies blaming new provider for delay
3) constant telephone calls to chase up why transfer is taking so long (adding to their already stretched workload).
4) and then when your transfer has gone through EVERY dividend that has gone EX DIV whilst your account is still with III will continue to be paid to III and NOT your new provider. These will not as you would expect be automatically transferred to your new provider even when your III account is closed-they will just sit in some type of suspense requiring you to telephone EACH TIME to request transfer of EACH dividend
5) commenced transfer to IWEB 25/10/17 and transfer was completed just before XMAS BUT as at 14/2/18 (some 112 days later) STILL having to chase up dividends held at III as per (4) above (again adding to their telephone workload)

IN summary SHOCKING service.

philng

To further add to my above comment:

Vodafone dividend paid to III chased up 5/2/18 & requested transfer to IWEB by telephone.

14/2/18 Still no receipt of Vodafone dividend at IWEB-Yet another telephone call to III who say they have chased up but delay due to backlog in transfers team & CANNOT give me a timescale when it will be received at IWEB.

Unbelievable!

horace972897

I wonder what the outcome would be when moving an account from any provider while waiting for dividends, tax relief etc. It's for this reason i'm waiting till all my text relief arrives in my HL account before i move my SIPP.

I transfered my ISA from Charles Stanley to iii just before the move to the new platform and have had no issues at all and it all occured on time and with plenty of messages to say what was happening.

LHW99

The problems will start if you try & transfer away

To be truthful, I had all 4 of those when trying to transfer a SIPP TO II from HL around the time of RDR.

MallyGirl

I only have Acc funds at the moment to I guess that has made transfers simpler

xylophone

Obfuscation and delay sums up my experience - it is more than time that the FCA stopped mouthing their weak platitudes and got a handle on this whole process, requiring firms to transfer in specie within a specific time period.


09 May, 2013


The Financial Conduct Authority (FCA) is concerned platforms are struggling to get to grips with re-registration and many cannot move assets within a reasonable time frame.

David Geale, FCA head of investment policy, said the regulator was worried by the lack of consistency between platform providers over how long it took to re-register assets.

‘In-specie transfers [are a concern]. In some cases it takes days and in some others it takes some multiple weeks or months. That doesn't seem reasonable,’ he said.


Existing FCA rules require that a re-registration
request should be executed within a reasonable
time and in an efficient manner, but do not set
a hard statutory limit for the timeliness of these
processes.

And as for getting dividends paid to II during the reregistration process....:mad:

diveleader

I have a question that will probably be a III grumble ref their new platform.

I was looking at my trading account, as i was looking to sell a little to utilise some of my CGT allowance.

However, if you choose a fund or share and look at its transaction history it just states 'transfer in' with a December date.

So it looks like all my previous purchases amounts and dates for a fund (or share) have now disappeared.

How can I calculate a potential CGT liability when I come to sell anything?

secure message sent, but am I perhaps just looking in the wrong place?

le_loup

............. or using the wrong platform!