Hargreaves Lansdown Errors with Fund Switch - Duplicate Purchase

DaveTheOgre

Hi, I've just returned from a very pleasant, long weekend in the caravan to discover that on 16Apr21, HL made duplicate purchases on 3 switch fund trades over 2 separate accounts (When you sell funds, HL offer a useful option to switch to another fund so you there's no need to wait until you have the money from the sale of one fund before you give the instruction to buy another fund. I effectively sold holdings in 3 funds via the switch feature but HL have kindly purchased twice as much as the value I sold but expect me to pay for it - this appears to be an error in their software - incidentally, my son is a successful tester of financial software so if HL feel the need for access to better test resource, please let me know). Consequently, I appear to have spent tens of thousands of pounds more than I intended and can afford!
Have any other members of this forum experienced this?
Would MSE care to report on this issue and get an update from HL?

dunstonh

When you sell funds, HL offer a useful option to switch to another fund so you there's no need to wait until you have the money from the sale of one fund before you give the instruction to buy another fund.

As do all platforms.

Would MSE care to report on this issue and get an update from HL?

Why would MSE want to report on a fund switch by an individual?

How about you get an update from HL and post the outcome here?

DaveTheOgre

dunstonh said:

When you sell funds, HL offer a useful option to switch to another fund so you there's no need to wait until you have the money from the sale of one fund before you give the instruction to buy another fund.

As do all platforms.

Would MSE care to report on this issue and get an update from HL?

Why would MSE want to report on a fund switch by an individual?

How about you get an update from HL and post the outcome here?

"As do all platforms." - OK, I also use ii, would like to use this feature with ii but haven't found it. Can you please advise how to use it with ii?

"Why would MSE want to report on a fund switch by an individual?" - A very good question. I wonder whether MSE might want to report on the apparent computer error, which, clearly, may have affected a very large quantity of people who had Switch buys on 16Apr (and possibly other dates) and involved many millions of pounds, which is why I sought input from other members of this forum who may also have had this experience - I find it hard to believe that it has occurred to only one person.

"How about you get an update from HL and post the outcome here?" - I discovered the errors today and have raised messages with HL. I'll be delighted to post outcomes here when HL move this issue forward.

Albermarle

"As do all platforms." - OK, I also use ii, would like to use this feature with ii but haven't found it. Can you please advise how to use it with ii?

Dunstonh is an IFA and presumably all the platforms that IFA's use have this switch facility . As do most workplace pensions I think .However you are right a few of the low cost  retail platforms do not offer it .

Would MSE care to report on this issue and get an update from HL?

This is a public forum that is hosted by MSE , but the contributors have no actual connection with MSE , apart for a couple of moderators.

Best just to wait for an answer from HL and no doubt they will reverse any wrong deals asap. with suitable apologies .

NedS

DaveTheOgre said:

"How about you get an update from HL and post the outcome here?" - I discovered the errors today and have raised messages with HL. I'll be delighted to post outcomes here when HL move this issue forward.

My experience of customer service with HL has been nothing short of exceptional. I would give them a call and I'm sure they will be more than willing to get this resolved as quickly as possible for you, not to mention to investigate how it happened in the first place.

DaveTheOgre

NedS said:

My experience of customer service with HL has been nothing short of exceptional. I would give them a call and I'm sure they will be more than willing to get this resolved as quickly as possible for you, not to mention to investigate how it happened in the first place.

NedS,

Thanks for your advice.

Glad that your experience has been exceptional.

Over the years, my impression has been that the young people they employ on the telephones have been unprofessional, arrogant, ignorant and with little worthwhile experience with provision of customer service; however, today, I spoke with Tom and Izzy, who were far more professional than those with whom I've less recent experience.

The issue was known to Customer Services and for one of the accounts was resolved within one hour; this still resulted in a delay of 2 days to withdraw 20k so overall, not the best service but pretty responsive under the circumstances. HL were unable to advise when the errors on the other account should be resolved; I'll post again when it's been resolved.

DaveTheOgre

DaveTheOgre said:

dunstonh said:

How about you get an update from HL and post the outcome here?

"How about you get an update from HL and post the outcome here?" - I discovered the errors today and have raised messages with HL. I'll be delighted to post outcomes here when HL move this issue forward.

To finish this sage, the other account has now been sorted.

grumiofoundation

DaveTheOgre said:

DaveTheOgre said:

dunstonh said:

How about you get an update from HL and post the outcome here?

"How about you get an update from HL and post the outcome here?" - I discovered the errors today and have raised messages with HL. I'll be delighted to post outcomes here when HL move this issue forward.

To finish this sage, the other account has now been sorted.

At least it didn't take too much thyme!

DaveTheOgre

DaveTheOgre said:

To finish this sage [saga], the other account has now been sorted.

... although, I'm disappointed to report that HL have re-written history by deleting from the message archive, my initial messages and their responses.