Changing platforms for various investments

Notepad_Phil

Regardless of how smooth the markets looked I'd only ever do a cash transfer if there was absolutely no other choice as with my luck the market would definitely plunge just before the sell only to rise significantly just before I was buying on the new platform.

If for whatever reason you don't have the choice to do it in-specie  then could you do the transfer in stages? I had to do that with one of my pensions that contained a fairly substantial pot so I made a series of separate partial transfers in cash - overall the ups and downs averaged out.

Mistermeaner

Thanks all for input 

Ummed and arred plus spreadsheeted charges over long term

Decided for now at least to ;
- Move missus inspecie from hl to iweb (saving 200-300 per annum)
- Leave my old Scottish widows where is (weighted charges total .4% Inc platform and funds) - no inspecie possible as Scottish widows funds are exclusive to their platform. 

Thrugelmir

Mistermeaner said:

Since original post my various holding which has taken a massive battering are now pretty much recovered (albeit not fully) using wonderful hindsight if I had been out of the market for a while pending cash transfer i would have potentially missed this part of recovery 

What recovery? Markets aren't the real economy. 

Mistermeaner

Fyi attempted inspecie transfer of Mrs pension from hl to iweb but they don't offer lg multi asset 7 (despite having 4 and 5 and numerous other lg products)

I was directed to a team.who would review of they could add it to their offering but after several weeks they replied that it doesn't meet their required standards so won't add it

Very strange 

Transfer to iweb cancelled !!

Mistermeaner

Thrugelmir said:

Mistermeaner said:

Since original post my various holding which has taken a massive battering are now pretty much recovered (albeit not fully) using wonderful hindsight if I had been out of the market for a while pending cash transfer i would have potentially missed this part of recovery 

What recovery? Markets aren't the real economy. 

The market recoverd 
I never said the economy did 

[Deleted User]

kids SIPPs , approx 3k in each , paying 50quid a month invested in VLS100 with Hargreaves lansdown - ACTION leave where they are as no other providers offering SIPPs for under 18s

i'd think retirement funds would be lower down the priority for kids - they need to prioritise funds for university, marriage and down payment for purchasing a house. i am sure they'd be more thankful if you contribute towards their down payment and stop wasting money on paying rent. if JISA is not your preference, just open a S&S ISA in your name with Vanguard and invest in VLS100.

ANGLICANPAT

dunstonh said:

kids SIPPs , approx 3k in each , paying 50quid a month invested in VLS100 with Hargreaves lansdown - ACTION leave where they are as no other providers offering SIPPs for under 18s

There is no such thing as a children's SIPP.  That is just marketing by a certain provider.   Children, from the day they are born can have any stakeholder pension, personal pension or SIPP.      

mrs pension , value 80k she not working so pay in 2880 per annum, currently with Hargreaves lansdown invested in VLS100 - ACTION move to vanguard SIPP for lower fees

However, that action may cost you more in the short term than you save.   I believe Vanguard is not accepting in-specie transfers.  If so, that would mean a cash transfer is required.  HL, in our experience of doing transfers away from them, are not the fastest.  So, she could be out of the market for a week or maybe two.   During periods of high volatility, she could miss percentage gains greater than the cost difference which could take a decade to recover.  Leaving it with HL may be cheaper overall or maybe consider other whole of market providers that offer inspecie transfers.

If HL are slow at cash transfers,     with Vanguard  that makes two of them  ,so she could be out of the market more than a little while.   V took  well over a week before even sending my isa fund transfer request  to original provider . The money finally left  them on 2nd , and there is still no sign of it arriving in my acc with Vanguard , so  two weeks and still not invested. I always thought  with money transfers  these days that  it would be from one to another instantly ,but seemingly not ,    The fund  dropped £400  between the day after I gave the instruction to VG  and the day it was finally cashed  a week later (,just the day after L&G received the instruction from VG )  but yes it could have gone up just as easily  . 

83705628

1. You're doing extremely well, I'm sorting out my mum & dad's at the minute and it's a feckin' mess.
2. Don't worry about missing a few weeks of the market due to a transfer. It could go either way.
3. Some people above have said it's a 50:50 chance of the market going up or down, and you've mentioned drip-feeing the transfer. The maths is that just doing it in one go as a lump sum works out better 2/3 of the time, drip feeding 1/3 of the time, but f you are going to drip feed !!!!!! don't do it over multiple years get it done within a single year. Either way, situatons when it makes a noticeable difference either way are rare.
4. I'm sure your kids can open SIPPs with Vanguard, also Junior ISAs.
5. VLS100 is a good choice. Personally I don't follow the anti-UK globalist Daily Mail comments section pessimism that you HAVE to diversify globally, it's nonsense. The UK has a 4.7% div yield vs global equity's 2.5%, same earnings growth expectation (2% inflaton + 2% real GDP growth), same long-run performance since 1900 or 1945, in only 2 crashes has the UK done worse than the US - 1972-1974 and post-Brexit, cheap valuations relative to global even now (UK CAPEx 13, PE 14.7x, DY 4.7%, PB 1.5x vs global CAPE 22, PE 19.5, DY 2.5%, PB 2x) 3/4 of FTSE 100 and 1/2 of FTSE 250 earnings are from overseas anyway, £ is low, no currency or political risk, UK-based asset in UK jurisdiction, no overseas dividend withholding taxes etc.
For me 50:50 is too much global, 100% UK doesn't mitigate UK-specific risks enoug, Bogle suggests US investors cap their global exposure at 20% but with the UK as a "middleman" country and a geogaphically small globally integrated high trading volume island vulnerable to global economic shocks unlike insulated America and not quite as diverse as global equity, I end up going for 2/3 UK equity 1/3 global equity.
6. Move the mrs's SIPP to Vanguard also? 
7. Are you going to get some bonds in there at some point?

AnotherJoe

Mistermeaner said:

Quick sense check on choice of platforms for various investments for me and family ; appreciate any comments or if this looks a sensible plan ;

kids SIPPs , approx 3k in each , paying 50quid a month invested in VLS100 with Hargreaves lansdown - ACTION leave where they are as no other providers offering SIPPs for under 18s

That shoudl be, literally, the last thing you invest in after other savings vehicles for them. So many life events why save for the last one which, being blunt about it they might not even reach? Too late for the £3k but at least the £50/m will come in useful for uni, first house whatever. And if my words not good enough, Mr Lewis says so as well.

Albermarle

 Personally I don't follow the anti-UK globalist Daily Mail comments section pessimism that you HAVE to diversify globally, it's nonsense. I end up going for 2/3 UK equity 1/3 global equity.

You have mentioned this on other threads. I am surprised there is no reaction from the many forum members with globalist tendencies 

Personally I will not comment , as I am a fence sitter on the subject of UK weightings and can see both sides of the argument !