Interactive Investor to buy Alliance Trust Savings

coyrls

Twoinky wrote: »

Coyrls thanks for your quick response.

You are correct that X-O do not offer funds but Jarvis also offer the "ShareDeal Active" platform, on which you can trade funds at a marginally higher cost than X-O. (I agree that the Hargreaves Lansdown service is exceptionally good but the 0.45% platform fee is higher than I would like to pay for holding funds.)

I agree it's too expensive to hold funds on HL. I'll take a look a Jarvis, as I've eliminated pretty much all the other alternatives for funds, hence my decision to try to live with II once my SIPP is transferred from ATS (no timescale for that yet).

LHW99

You are correct that X-O do not offer funds but Jarvis also offer the "ShareDeal Active" platform, on which you can trade funds at a marginally higher cost than X-O.

I had a part of my portfolio on this a few years back, and although you could hold funds, buying and selling needed to be via the telephone service rather than online. Not sure if that is still the case.

coyrls

Twoinky wrote: »

Coyrls thanks for your quick response.

You are correct that X-O do not offer funds but Jarvis also offer the "ShareDeal Active" platform, on which you can trade funds at a marginally higher cost than X-O. (I agree that the Hargreaves Lansdown service is exceptionally good but the 0.45% platform fee is higher than I would like to pay for holding funds.)

I've looked at Share Deal Active and its costs look competitive for me. The information on trading funds is contradictory. On the SIPP Web page it states:

Using a shareDeal active share dealing account, the Jarvis SIPP offers you a wide range of SIPP eligible investment options including shares that are listed on both the UK and other major overseas markets; gilts, corporate bonds; unit trusts and OEICs; investment trusts; ETF

but in the linked Terms and Conditions it says:

40.2 Only Investments permitted under the SIPP Regulations may be held in the SIPP Dealing Account. The choice of SIPP Investments is restricted to stocks and shares only.

There doesn't seem to be any facility to lookup which unit trusts and OEICs are tradable and so I can't check if I could transfer my current holdings.


Snowman's spreadsheet still shows X-O (Jarvis SIPP) as a Share/ETF only option but perhaps he hasn't caught up with the changes, like Jarvis' own Terms and Conditions.

Twoinky

The Permitted Investments listed in Appendix 1 to the Terms & Conditions says:


The range of investments and investment providers currently
permitted are restricted as follows:
- Bank account with the Royal Bank of Scotland
- Shares listed on LSE, AIM or a recognised overseas
investment exchange provided these are capable of being
held by Jarvis
- Investments classified as a standard asset for SIPPs. (I assume this includes Funds & OEICS)

Gaudi Regulated Services Limited reserves the right to
amend this list at any time.

coyrls

Twoinky wrote: »

The Permitted Investments listed in Appendix 1 to the Terms & Conditions says:


The range of investments and investment providers currently
permitted are restricted as follows:
- Bank account with the Royal Bank of Scotland
- Shares listed on LSE, AIM or a recognised overseas
investment exchange provided these are capable of being
held by Jarvis
- Investments classified as a standard asset for SIPPs. (I assume this includes Funds & OEICS)

Gaudi Regulated Services Limited reserves the right to
amend this list at any time.

Yes, those are the terms and conditions for the Gaudi SIPP but the Website says:

By applying for a Jarvis SIPP you are also agreeing to the shareDeal active Terms and Conditions.

And under “Supplemental Terms and Conditions for SIPP Sharedealing Accounts” in the shareDeal active Terms and Conditions, it says:

40.2 Only Investments permitted under the SIPP Regulations may be held in the SIPP Dealing Account.
The choice of SIPP Investments is restricted to stocks and shares only.

[FONT=&quot]Now I think the likely explanation is that they haven’t kept the shareDeal active Terms and Conditions up to date. The one on the Website is dated “Jan ’17”. It does put me off a bit though if you are signing up to terms and conditions that don’t reflect the current state of the product.[/FONT]

Alexland

Interesting article by Holly from Boring Money but unsure she checked with Xylophone before making the below comment:

https://citywire.co.uk/new-model-adviser/news/hard-graft-ahead-for-interactive-investor-to-make-ats-deal-work/a1168743

the integration which blended Interactive with TD Direct was pretty well delivered

Alex

Twoinky

My experience after the acquisition of TD and the associated platform software re-vamp by II was not good and the many negative postings on the internet suggests that this was not unique. (It was particularly sad to lose the functionality of the previous II Discussion Board that was used by many DIY investors - the replacement system is poor in comparison.)


I have been very happy with my ISA investment using the Jarvis X-O platform over the last few years and hope to talk to Jarvis next week to try to clarify some of the uncertainties regarding their ShareDeal Active SIPP. (I have no knowledge of their SIPP Administrator Gaudi.)

coyrls

Twoinky wrote: »

I have been very happy with my ISA investment using the Jarvis X-O platform over the last few years and hope to talk to Jarvis next week to try to clarify some of the uncertainties regarding their ShareDeal Active SIPP. (I have no knowledge of their SIPP Administrator Gaudi.)

I'd be interested in your views after you have spoken to them. I'm not in a hurry to make a decision as nothing has been announced yet in terms of when things will be happening to ATS accounts.

Twoinky

OK - I'll let you know.

I have no doubts about Jarvis but Gaudi is an unknown quantity for me.

Twoinky

I've checked with Jarvis & Gaudi and can confirm that:


1) You can deal funds (Unit Trusts) on the ShareDeal Active platform at a cost of £9.50 but the transaction must be carried out by telephone and NOT on-line. ("Just state the ISIN code".)


2) The platform cost for a ShareDeal Active SIPP is the same as for the Jarvis X-O Sipp - but the transaction cost is £9.50 compared to £5.95.

3) It is possible to change from the X-O platform to the ShareDeal Active platform - but I'm not sure if/how it works in the other direction if the holding includes Unit Trusts.


4) After deciding that I would transfer one of my Aviva Personal Pensions to a Jarvis SIPP, I am disappointed to discover that Jarvis will not accept a "Section 32" policy. However, I may still eventually transfer my Alliance Trust Savings SIPP to Jarvis if the Interactive Investor take-over eventually goes the same way as their previous acquisitions.

5) The Alliance Trust Savings Helpdesk do not know if/when the II take-over will go through - but the earliest appears to be "around April 2019", which is getting too close to my key "threshhold date".

So despite my serious misgivings, I can see me reluctantly ending up with all my pension assets and a large chunk of my ISA holdings with Interactive Investor.


Arghhhhh!