HL Charges

aroominyork

Prism wrote: »

https://www.youinvest.co.uk/our-services/special-offers

My son is about to move his ISA and LISA from HL to AJ Bell. If I open an AJ Bell account, and even if I put no money in it, can I get £100 for referring his ISA and the Amazon voucher for referring his LISA?

Prism

aroominyork wrote: »

My son is about to move his ISA and LISA from HL to AJ Bell. If I open an AJ Bell account, and even if I put no money in it, can I get £100 for referring his ISA and the Amazon voucher for referring his LISA?

No, the new ISA needs to be funded with £10k and its £1k for the LISA. Needs to stay in for 12 months

Edit: Actually, looking through the details you may be right. It depends how you qualify as a customer

Alistair31

Alexland wrote: »

Very pleased as we are currently transferring our LISAs to AJ Bell for the lower capped £30 fee on ETFs and increased flexibility on using regular investments and this will save us each paying the HL closure fee! AJ Bell's £50 Amazon voucher will cover the two HL in-specie fees so overall the transfers will cost us nothing.

I thought AJbell fee cap on ETF is £100, not £30 ?

(Hence my plan to move to Fidelity)

bowlhead99

Alistair31 wrote: »

I thought AJbell fee cap on ETF is £100, not £30 ?

(Hence my plan to move to Fidelity)

The accounts he was talking about were LISAs, which like regular ISAs or unwrapped accounts have a cap at £30. For a SIPP it would be £100.

Alistair31

That makes sense. Thank you.

Alexland

Alistair31 wrote: »

I wonder if AJ Bell will scrap their transfer out fees on SIPP.

Those providers still charging exit fees are going to feel pretty cold and lonely trying to defend the practice. I would expect AJ Bell to follow HL on this and if anything it's a bit embarrassing for them that HL moved first.

Alex

Albermarle

I wonder if AJ Bell will scrap their transfer out fees on SIPP. Would be nice so I can move it over to Fidelity.

Fidelity will pay any exit fees incurred when transferring to them up to £500:
Also they offer regular cashback offers for transferring ( but latest offer stopped in mid September )

Alexland

You need to fill in a separate Fidelity PDF form to reclaim the exit fees. They seem to pay both the transfer incentive and exit fees directly so avoiding the tax on if the money was withdrawn from the pension in future.

Fidelity are late on paying my wife's transfer incentive from a previous offer period. It's been over 90 days since both her transfer completed and the offer period ended Fidelity have confirmed she qualified but have no ETA on when she will get paid.

Alex.

aroominyork

aroominyork wrote: »

My son is about to move his ISA and LISA from HL to AJ Bell. If I open an AJ Bell account, and even if I put no money in it, can I get £100 for referring his ISA and the Amazon voucher for referring his LISA?

I thought I'd save you guys time, answer this myself and ask you to check it.

The Ts & Cs for both ISA and LISA offers say "[FONT=&quot]A new customer can only be recommended once by an existing customer." So I'll got for the ISA £100 and forget the LISA Amazon £50.[/FONT]

[FONT=&quot]It goes on: "We reserve the right to reclaim the £100 payment if, within 12 months of claiming this offer the new customer (i) closes their account or (ii) withdraws or transfers a substantial amount of the cash of investments initially funded to their account in connection with this offer." Nowhere does it say the referrer's account must be funded. Would others agree they would be obliged to pay me the £100 fee if I open but never fund a dealing account?
[/FONT]

Alexland

When I asked about the incentive AJ Bell said that provided I opened my new account first then they would pay the incentive on my wife's new account. They are both currently unfunded (already used £4k allowance) and we sent the transfer requests in the same envelope (why waste a stamp...). We then emailed to request the incentive and they confirmed we had qualified provided the HL transfers complete. We also get another free book which I have previously sold for about £10 on eBay. If you are worried why not make a small investment? Also double check but I don't think their dealing account has a closure fee.