Iweb to II

ChilliBob

Hey guys,
I'm considering moving my ISA from iweb to II (to an account I have open there already with this year's ISA allowance in it).
1. Does anyone have any first hand experience of this? And how long it takes?
2. Would it be a bad idea to initiate it whilst I'm on holiday?! - ie is it totally hands off like a cash isa to stocks and shares would be?

Any thoughts much appreciated  

benbay001

I did exactly that.
I initiated just after the new tax year and it took just under 2 months.
It was a bit of a disaster really, there were multiple revisions to the transfer completion date.

ChilliBob

Oh, great! Any reasons for the multiple revisions? -Stuff like share classes not covered by one or the other or something?

Type_45

Why the switch?

I'm with iWeb.

ChilliBob

Two reasons:
1. Some investments not on iWeb, that iweb refuse to add.
2. The xray functionality for the portfolio.

It's basically the first mostly. 

benbay001

All i was told is that the two brokers hadnt agreed transfer dates. 
For what was supposed to be a transparent process (email updates every week) they were rather withholding of crucial details.
I dont know who was to blame, II or iWeb or both.
My reason for transferring was the same as your #1

ChilliBob

Hmm, I guess just hope for the best then. I figured a week or less either side is be busy with hols so it was about three weeks I'd not be on the case. Sounds like I'd need double that! 

xylophone

 I figured a week or less either side is be busy with hols so it was about three weeks I'd not be on the case. Sounds like I'd need double that! 

I transferred in specie from II to iweb.  It took around six months ......I must say though that this was when II were in the process of some sort of takeover and I gather from relative who has an account with them that they are  pretty efficient now.

ChilliBob

Blimey, that's not encouraging! (Well, I guess the first scenario). I suppose it'd stop me looking at it so often
Well I need to do it at some point  
I still have 20k to invest in cash, which I may as well do before I move it over, even if it means I need to sell to buy the stuff that's only on II.. What to buy is a different subject, I suppose an index fund

ivormonee

ChilliBob said:

Two reasons:
1. Some investments not on iWeb, that iweb refuse to add.
2. The xray functionality for the portfolio.

It's basically the first mostly. 

Just out of interest, what sorts of investments are they refusing to add? Might be useful to know.

ChilliBob

ivormonee said:

ChilliBob said:

Two reasons:
1. Some investments not on iWeb, that iweb refuse to add.
2. The xray functionality for the portfolio.

It's basically the first mostly. 

Just out of interest, what sorts of investments are they refusing to add? Might be useful to know.

Do you know what? I've lost track actually! - I asked for quite a few and they said their custodian didn't hold them. To their credit they have added a couple. The ones I can remember are the Morningstar Wide Moat ones - which comes in a US and Global flavour. They *do* hold the US one in USD, but refused to add the US one denominated in GBP for example, and refused to add the Global one. Then I recall some iShares ETFs, I think perhaps materials or something, which they wouldn't add.

Conversely II didn't hold Royal London Global Equity select (which I web added), after some badgering (more than iWeb I have to say!) they have added it.

Don't get me wrong, I'm far from anti I-web - I've had lots of positive experiences with them, its just fund selection