L&G investments transfer move to Fidelity disaster!

Nanpy

My L&G account was closed with a final statement weeks ago but I haven't heard anything from Fidelity. 

I'm thinking it might have got lost in the mail.

Have others received info from Fidelity?

EDIT: I spiced up the title, cos 2021. I'm also contacting Rip Off Britain to see if this is a wider issue. Not happy that I've been left hanging by L&G before I had my Fidelity details sorted. 

cattie

Have you actually contacted Fidelity to find out the status of your account?

I can't see that a tv programme would be interested in what is probably just a delay.

Linton

Were you tranfering the funds or were the funds converted to cash first?  The former can take a long time.  How long have you been waiting?

Contacting Rip-off-Britain seems rather pointless.  Talk to Fidelity to get a status report first as they arrange the transfer and then if the situation is not clear perhaps talk to L&G to see if they have sent the account to Fidelity.

Nanpy

Back in May L&G said they were selling their consumer investment arm to Fidelity.  In September they sent me a statement showing my account closing with them. This is a transfer of assets, not a cash out, cash in - that'd be a proper disaster as it's mostly ISA for me. 

So the flow of the process was supposed to be L&G wipe their hands of me, up to two weeks go by and Fidelity are supposed to contact me, then I get to set up an account and access my info again. Hardly, ideal.

I've no Fidelity account info so I can't use the phone number, which asks for account details. There's no listed email address. The Website contact form, similarly requires account details. I've tried Twitter even. TWITTER. 

Like I said, I contacted the show to see if it was a general issue. Being unable to access potential pension investment information for almost a month seems like it'd be a big deal if it was widespread. If it's just me, then not so much. I am fairly self-aware. 

eskbanker

Nanpy said:

I am fairly self-aware. 

Scaling up an inconvenience to be a 'disaster' may suggest otherwise....

Linton

For info: L&G are transferring their personal investment business to Fidelity. 

So for the OP:

Since this is not a normal transfer but rather a deal between L&G and Fidelity I suggest you disregard what has been said so far.  

L&G have a transfer webpage: https://www.legalandgeneral.com/investments/investment-content/lg-announces/?cid=PIUKBrandTransferToFidelityEM&ef_id=CjwKCAjwwsmLBhACEiwANq-tXKsXOV_M9hFxBY3Q55_ISMK-QzuwrO4pbP1yFiI9osu5WWWLczULMhoCo9sQAvD_BwE:G:s&s_kwcid=AL!12501!3!513401232134!e!!g!!l&g transfer to fidelity&nst=0&gclid=CjwKCAjwwsmLBhACEiwANq-tXKsXOV_M9hFxBY3Q55_ISMK-QzuwrO4pbP1yFiI9osu5WWWLczULMhoCo9sQAvD_BwE&gclsrc=aw.ds

It gives a contact number under "Get in touch".

Nanpy

eskbanker said:

Nanpy said:

I am fairly self-aware. 

Scaling up an inconvenience to be a 'disaster' may suggest otherwise....

And yet now I'm getting engagement from other forumites. Like I said, I'm self-aware. 

Nanpy

Linton said:

For info: L&G are transferring their personal investment business to Fidelity. 

So for the OP:

Since this is not a normal transfer but rather a deal between L&G and Fidelity I suggest you disregard what has been said so far.  

L&G have a transfer webpage: https://www.legalandgeneral.com/investments/investment-content/lg-announces/?cid=PIUKBrandTransferToFidelityEM&ef_id=CjwKCAjwwsmLBhACEiwANq-tXKsXOV_M9hFxBY3Q55_ISMK-QzuwrO4pbP1yFiI9osu5WWWLczULMhoCo9sQAvD_BwE:G:s&s_kwcid=AL!12501!3!513401232134!e!!g!!l&g transfer to fidelity&nst=0&gclid=CjwKCAjwwsmLBhACEiwANq-tXKsXOV_M9hFxBY3Q55_ISMK-QzuwrO4pbP1yFiI9osu5WWWLczULMhoCo9sQAvD_BwE&gclsrc=aw.ds

It gives a contact number under "Get in touch".

Yeah, I've spoken to L&G and they've put it all on Fidelity. I'm waiting on a higher up getting back to me because I don't think it was a smart way to do the transfer anyway.

Legit surprised there's no-one on the forum who had an investment account with L&G who has successfully completed their transfer to Fidelity and able to chime in and say the process works. 

Nanpy

To be clear since people seem to have missed it in the OP, my only question has been:

"Have others received info from Fidelity?"

Albermarle

 In September they sent me a statement showing my account closing with them. This is a transfer of assets, not a cash out, cash in - that'd be a proper disaster as it's mostly ISA for me. You can transfer cash from ISA to ISA so would not have been a disaster .
So the flow of the process was supposed to be L&G wipe their hands of me, up to two weeks go by and Fidelity are supposed to contact me, then I get to set up an account and access my info again. Hardly, ide

On a positive note , once it all settles down , Fidelity have a much better website, choice of funds etc than L&G.

I actually moved a L&G ISA to Fidelity before this situation came up and it all went smoothly and quickly. The charges were less as well. 

I have had a look at the Fidelity website about the L&G transfers and you are right it should be done in 14 days, so there is a delay. Considering there are threads on this forum about ISA and pension transfers with other providers taking up to 6 months , then a delay in a mass transfer of clients is probably not such a big surprise .

Probably best just to sit tight for a couple more weeks .

wmb194

Yes, this all happened last Saturday, 16th of October. The holdings in my L&G S&S Isa transferred without a hitch to my already existing Fidelity S&S Isa. I don't remember receiving anything from Fidelity yet but as I can login and see that everything's fine I'm not bothered. The only thing to note is that my OEICs were converted from 'R' to 'I,' so the quantities and prices changed whilst the overall value is the same.