Transfer to iWeb - 13 months and complete at last!

Aylesbury_Duck

valiant24 said:

Aylesbury_Duck said:

I instigated a transfer of a S&S ISA from Vanguard to iWeb, way back in January.  

If it's any consolation, they're not just picking on you!   I requested 2 transfers to iWeb in May, from Embark and from EQi, and with the exception of the cash from EQi nothing has happened at all.   The portfolios are worth about £400k.

Thanks.  To be honest, that might concern me less.  It's the fact that in my case, something did eventually happen after six months, but now my funds are "missing in transit", and iWeb seem to have no idea where they are or when they might arrive in my account.

Aylesbury_Duck

Another update, this time from Vanguard: the units were sent to iWeb in July, however for some reason they were returned to the Vanguard holding account in August.  So the process has started again...

I'm much happier that at least I know where the funds now are.  What it does show is that iWeb are all over the place and are just plucking excuses out of the air.  Of the several conflicting reasons they've given me for the delay, this wasn't one of them.

John464

Surprised to read this.
I transferred my ISA (only) from X-O to iweb a couple of years ago, no bother at all.
(I have no problem with X-O, I am sure they are sound and still have about as much with them as I have with iweb. Just wanted to put my mind at rest about having all my eggs in one basket.  But with hindsight I'm sure my transfer from X-O was unnecessary)
I only had mainstream ETFs - maybe its the less common funds iweb have problems receiving?

Aylesbury_Duck

John464 said:

Surprised to read this.
I transferred my ISA (only) from X-O to iweb a couple of years ago, no bother at all.
(I have no problem with X-O, I am sure they are sound and still have about as much with them as I have with iweb. Just wanted to put my mind at rest about having all my eggs in one basket)

Something's wrong this year.  I had a trouble-free transfer to iWeb last year, but this year I don't appear to be the only one with a ridiculously lengthy transfer seemingly stuck.  

mika_dm

Same situation here too. Transfer from Hargreaves to iWeb. 4 months and counting. 
Obviously, both brokers blame the other one. Filled a complain with iWeb, first they said will give an answer in 15 working days. After 2 weeks, sent another message saying will resolve in another 20 working days.

Asked HL how can I complain about the transfer, 2 weeks ago, still no answer from them.

I think I will cancel the transfer, sell everything in HL and move manually in iWeb. (it won't go over my annual ISA allowance).

And carry on with the complaints on both brokers.

NotSureWhichUsername

mika_dm said:

Asked HL how can I complain about the transfer, 2 weeks ago, still no answer from them.

If you have access to the HL app, I submitted a formal complaint by sending them a secure message on the app and making it clear it was a formal complaint. 

mika_dm

I talked to them through secured messages. It's more than 2 weeks since my last message, still no response.

I will send another one and put it clear it is a complaint.

Thanks for the tip.

Aylesbury_Duck

Well, eleven months on and I'm no further forward.  After two more phone calls to iWeb, the first of which they still spent blaming Vanguard for not sending the funds (even though they left my Vanguard account in July), I think I've established that there's a tiny mismatch between the value sent by Vanguard and the value expected by iWeb.  I say "I think", because I've lost all faith in iWeb's ability to tell the truth.  Anyway, the discrepancy amounts to something like 34p on funds worth c.£85k, but it's meant the whole thing's ground to a halt.  They promised to email me with confirmation of all this a month ago, but of course I've heard nothing, so eleven months after initiating this transfer, it's still grinding on and my funds have been out of reach since July...

I started the process with the ombudsman some time ago, but I understand they have a huge backlog.  Any other ideas/email addresses/routes I can try, to try and get this ridiculous situation resolved?

tafelmoneysaver

I had a case of two extremes this year:
1) transfer from HL SIPP to iWeb SIPP just completed after 7 months
2) transfer from Aviva Workplace pension to iWeb SIPP completed after 7 days! 

I did find that when I emailed websipp@sippdeal.co.uk I got a reply from the person assigned to my case within a day or two. 

Aylesbury_Duck

tafelmoneysaver said:

I had a case of two extremes this year:
1) transfer from HL SIPP to iWeb SIPP just completed after 7 months
2) transfer from Aviva Workplace pension to iWeb SIPP completed after 7 days! 

I did find that when I emailed websipp@sippdeal.co.uk I got a reply from the person assigned to my case within a day or two. 

Thanks.  I've emailed them at the address another poster kindly gave me a while ago, and got an automated response, but nothing since.  I just can't seem to get through to anyone useful on email, the web chat is useless and whenever I speak to someone on the phone, they're very nice (when they're not blagging) but clearly haven't got the authority to sort things out and don't do as they promise.