Vanguard SIPP transfer?

zenbuddhist

Hello,
Is anyone here with Vanguard for their SIPP or ISA? I am currently with Fidelity, but only have Vanguard funds so would like to transfer to Vanguard as the platform fee is cheaper. 

I sent a question to Vanguard about whether my fund could be transferred in specie as their website says some Vanguard funds might not be eligible for in specie transfer (not sure why that would be...). The website says they'd get back to me within 24 hours but I never received a response.

I'm wondering whether this doesn't bode well for things like customer service. Has anyone transferred to Vanguard and has views on this?

Many thanks 

jsinc

Vanguard only introduced in specie transfers 18 days ago (16th Nov) so you may be unlikely to get a response here on that yet. They told me 1-10 weeks transfer time when I asked. Not sure why some are ineligible.

[Deleted User]

Hello zenbuddhist,. I have both sipp and ISA  with Vanguard. The customer service has always been quick to respond to my queries , both online messages and telephone,and been very efficient and helpful with replies. I am not very bright and they always take time to fully clarify fully.  That's my experience, regards

Albermarle

jsinc said:

Vanguard only introduced in specie transfers 18 days ago (16th Nov) so you may be unlikely to get a response here on that yet. They told me 1-10 weeks transfer time when I asked. Not sure why some are ineligible.

Sounds like would be better for the OP to try again in a couple of months .

dunstonh

in-specie transfers can take anything from a couple of weeks to 6 months.

Alexland

zenbuddhist said:

some Vanguard funds might not be eligible for in specie transfer (not sure why that would be...).

Because not all Vanguard funds/ETFs are available on the Vanguard Investor platform such as the VWRP ETF so you need to ensure you have tidied up your existing account to only contain the exact investments offered on Vanguard Investor.

In specie transfers do tend to take a while but it should be quicker if the gaining platform and fund manager are part of the same group and if you are holding accumulation units so no dividend payments to consider.

zenbuddhist

Thanks everyone, all of the responses are really helpful. 

DavidT67

Alexland said:

zenbuddhist said:

some Vanguard funds might not be eligible for in specie transfer (not sure why that would be...).

Because not all Vanguard funds/ETFs are available on the Vanguard Investor platform ... if you are holding accumulation units so no dividend payments to consider.

Weirdly Vanguard's platform favours distributing units over accumulation, so you could transfer in VEVE but not VHVG, for instance, although their both the same fund.

Thrugelmir

DavidT67 said:

Alexland said:

zenbuddhist said:

some Vanguard funds might not be eligible for in specie transfer (not sure why that would be...).

Because not all Vanguard funds/ETFs are available on the Vanguard Investor platform ... if you are holding accumulation units so no dividend payments to consider.

Weirdly Vanguard's platform favours distributing units over accumulation, so you could transfer in VEVE but not VHVG, for instance, although their both the same fund.

Administration cost. Vanguard operate a low cost business model. If it's not viable don't offer it. 

garmeg

Thrugelmir said:

DavidT67 said:

Alexland said:

zenbuddhist said:

some Vanguard funds might not be eligible for in specie transfer (not sure why that would be...).

Because not all Vanguard funds/ETFs are available on the Vanguard Investor platform ... if you are holding accumulation units so no dividend payments to consider.

Weirdly Vanguard's platform favours distributing units over accumulation, so you could transfer in VEVE but not VHVG, for instance, although their both the same fund.

Administration cost. Vanguard operate a low cost business model. If it's not viable don't offer it. 

They do offer income units in most of their oeics though I think?