Transfer Vanguard funds to a fixed fee platform

Sea_Shell

This "radio" silence is making me twitchy.

Sea_Shell

We have movement!!

Fidelity is showing as pending transfers out.


Saved me a phone call 😉

Let's hope it all turns up in iWeb.

dllive

I checked my Vanguard and iweb accounts today. 3 of the funds have moved over, but one hasnt. I msged Vanguard and asked for an update. They confirmed that 3 funds had completed the transfer, but 1 hasnt yet. Thats fine, Im in no rush. 

One thing that did just occur to me (and probably should have before now!!): Where do all the gains from previous years ISAs go? Do records know that - for example - 2017 ISA has grown 6%, so transfer that 6% gain to iweb? Im curious. Ive got 8 years of previous ISA gains, so Im curious whether those gains get moved to iweb or whether they stay with Vanguard with my current year's ISA money (Im only transferring previous years ISAs to iweb).

Sea_Shell

dllive said:

I checked my Vanguard and iweb accounts today. 3 of the funds have moved over, but one hasnt. I msged Vanguard and asked for an update. They confirmed that 3 funds had completed the transfer, but 1 hasnt yet. Thats fine, Im in no rush. 

One thing that did just occur to me (and probably should have before now!!): Where do all the gains from previous years ISAs go? Do records know that - for example - 2017 ISA has grown 6%, so transfer that 6% gain to iweb? Im curious. Ive got 8 years of previous ISA gains, so Im curious whether those gains get moved to iweb or whether they stay with Vanguard with my current year's ISA money (Im only transferring previous years ISAs to iweb).

I've just had one of my funds transfer from Fidelity to iWeb, and iWeb now doesn't show any gain/loss, so it must start again from day one (with iWeb), so you have to rely on your own records to track growth over time.

In specie funds get transferred over at the number of units you held.   So any 'gains', would be within the price for any given unit (if ACC)



ETA - just waiting on my Rathbones now.    which involves a class switch.

ColdIron

Sea_Shell said:

I've just had one of my funds transfer from Fidelity to iWeb, and iWeb now doesn't show any gain/loss, so it must start again from day one (with iWeb), so you have to rely on your own records to track growth over time.

When I moved to IWeb my Book Cost at that time was transferred as well so the Profit/Loss was preserved. I have a dim memory that someone on this board phoned them up and gave them the figures that they wanted

Might be worth a try

jimjames

ColdIron said:

Sea_Shell said:

I've just had one of my funds transfer from Fidelity to iWeb, and iWeb now doesn't show any gain/loss, so it must start again from day one (with iWeb), so you have to rely on your own records to track growth over time.

When I moved to IWeb my Book Cost at that time was transferred as well so the Profit/Loss was preserved. I have a dim memory that someone on this board phoned them up and gave them the figures that they wanted

Might be worth a try

Mine doesn't show that with iWeb, it just shows the value at the point it was transferred not what I'd previously acquired them for.

ColdIron

It might depend upon the ceding platform and the data they provide, mine was Charles Stanley Direct

Vortigern

dllive said:

I checked my Vanguard and iweb accounts today. 3 of the funds have moved over, but one hasnt. I msged Vanguard and asked for an update. They confirmed that 3 funds had completed the transfer, but 1 hasnt yet. Thats fine, Im in no rush. 

I'm in a similar position. My OIECs transferred quickly but the ETFs have not moved yet. All are VG funds from previous years. I'm moving the whole ISA from VG to iWeb.

I believe queries should be addressed to the gaining provider, iWeb.

Sea_Shell

Sea_Shell said:

I found this on the iWeb page, and it reads to me (?) like they would effect the transfer and move the investment to the closest class of fund that they have,  so in my case with Rathbones from 'S' to 'I' ??

Am I reading that right?? 

I'm a little concerned.    (sorry I'd been posting updates on the wrong thread)

Everything seemed to be going smoothly, finally, and the HSBC fund has transferred no problem 'in specie'

However, I've just received a letter from Fidelity that states that my Rathbones have been SOLD, and a cheque will be issued to my new provider!!!!

(didn't this happen to someone else? - outcome? - i'll keep looking). ETA, found you @alewin


The above paragraph definitely states that "your fund does not have to be sold as part of the transfer".


What's going on here.   Have they stuffed up?

dllive

Yesterday I did my calculations and it seemed to me that there was quite a lot of money that hadnt transferred from Vanguard to iWeb. I contacted Vanguard and they said theyd made a mistake and hadnt transferred all previous years' ISAs to iWeb!!! I dont know how they could have messed that up, I would have thought it was fairly simple. It is a substantial amount too!

Anyway, yes, Id suggest contacting them if you suspect something is amiss.