Transfer Vanguard funds to a fixed fee platform

masonic

Sea_Shell said:
Due to the price dropping, whilst out the market, I managed to buy 182 extra units.  A gain of £633.

Good outcome.

I noticed today that interactive investor failed to execute my regular investing instruction earlier this month, but the investment I was supposed to be buying has dropped about 6% since. Sometimes time out of the market isn't a bad thing.

dllive

OK, this is annoying@ The funds I transferred to iWeb show my holdings in each fund (as you would expect), but theres nothing displayed in the Profit/Loss columns.

iWeb have said this is becuase Vanguard didnt tell them the price of each fund as is the norm, so theres no figures to calculate the profit/loss.

I spoke to Vanguard and they say this is not the norm, and they never pass these figures on to a new provider.

So how do I monitor the performance of the funds I have in iWeb!?!? 

I hope Im missing something obvious. It cant be the case that I cant see the performance of the funds that I have my lifetime savings in!!

@Sea_Shell - do you see anything in your profit/loss columns?

Sea_Shell

Not for the in specie HSBC, no.

But yes for the Rathbone's that I had to buy.

As you say, a little bit annoying, but I keep my own spreadsheet, so I'm not planning on logging on to iWeb regularly, as I'll get the pricing from elsewhere.

Sea_Shell

Actually, can they not populate it for you, if you provide the figures?

gizz_10

dllive said:

OK, this is annoying@ The funds I transferred to iWeb show my holdings in each fund (as you would expect), but theres nothing displayed in the Profit/Loss columns.

iWeb have said this is becuase Vanguard didnt tell them the price of each fund as is the norm, so theres no figures to calculate the profit/loss.

I spoke to Vanguard and they say this is not the norm, and they never pass these figures on to a new provider.

So how do I monitor the performance of the funds I have in iWeb!?!? 

I hope Im missing something obvious. It cant be the case that I cant see the performance of the funds that I have my lifetime savings in!!

@Sea_Shell - do you see anything in your profit/loss columns?

I moved from Fidelity to iweb last week and had the same issue - I just went on iweb chat and asked them to populate the Book values so they asked me what i had bought them for and then said they would get it populated. Today its showing the correct book value and the profit/loss is populated.  I found iweb chat assistants very good, helpful and efficient.

Sea_Shell

Sea_Shell said:

Sea_Shell said:

The Rathbones cash has arrived in my iWeb ISA, as cash.    Sitting waiting to be invested.

I guess I need to do that bit then, and pay the £5 fee?    Going fur a run now, will do later this morning.

Hopefully, looking at the current pricing, I shouldn't end up losing out in the end.   Which is more by luck than judgement.

We're still waiting for any further movement on DHs fund.    I wonder if the same scenario will play out there too.  

Units bought, sale completed.   That part was very slick.   

I actually got the units for ever so slightly cheaper than they would have been as a straight "same day" conversion.

Due to the price dropping, whilst out the market, I managed to buy 182 extra units.  A gain of £633.

That could so easily have gone the other way, mind.    Still waiting on DHs.   Will he be so lucky?

The joys of trading equities 

Update.   

After a partial successful transfer of DH's (the HSBC went through quickly), he has received a phone call from iWeb saying that they can't transfer the Rathbones (as we half expected), BUT that the problem is that Fidelity can't (or won't) do a pre-conversion to facilitate the transfer.

They have asked what they are to do next?    They are waiting for him to get back to them.    At least they didn't just give a sell to cash instruction, like they did with mine!!  I didn't get a phone call.

After giving it some thought, it's probably best if they leave everything as is, for now, and cancel the rest of the transfer (they said that was an option, somehow?).

We can then decide separately what to do with the remaining Rathbones fund.     Switch to another fund, manually, and then instruct another transfer?  Tricky in a volatile market, as normally we'd usually be "if in doubt, do nowt".


Until they somehow close off the transfer their end, we can't do anything with the Fidelity account (Rathbones) as it's showing as "ordered", so we can't manually sell or switch.   

So we first need to get that "block" removed.

dllive

Sorry to hear that @Sea_Shell.

As it happens, I feel completely let down by Vanguard and iWeb!! They dont understand theyre dealing with someones life savings!!! Only yesterday I was on live chat with iWeb and theyre just making stuff up as they go!!

Too much to go into now, but basically Vanguard gave the wrong figures to iWeb. I had to point out to them that there was less tarnsferred over than I thought there should be. They sort of corrected that, but no communication has been had with either vanguard or iWeb!! No updates, no confirmation, nothing!! Ive had to chase every step of the way!! Ive been given wrong information from both companies on more that one occasion. Theyve both been blaming each other. 

Very unimpressed. This is still rumbling on and I still dont have any confidence that the right amounts have been transferred. I really thought that - something as simple as a in-specie transfer of funds between 2 established companies - would be straightforward! I didnt realise they would make multiple mistakes and I would get zero communication!!

Sea_Shell

After 25 mins on the phone to iWeb, they have agreed to abort the rest of the transfer.

Apparently this should happen quickly, as it's on a central electronic database.

Will check Fidelity later.

GeoffTF

dllive said:

Sorry to hear that @Sea_Shell.

As it happens, I feel completely let down by Vanguard and iWeb!! They dont understand theyre dealing with someones life savings!!! Only yesterday I was on live chat with iWeb and theyre just making stuff up as they go!!

Too much to go into now, but basically Vanguard gave the wrong figures to iWeb. I had to point out to them that there was less tarnsferred over than I thought there should be. They sort of corrected that, but no communication has been had with either vanguard or iWeb!! No updates, no confirmation, nothing!! Ive had to chase every step of the way!! Ive been given wrong information from both companies on more that one occasion. Theyve both been blaming each other. 

Very unimpressed. This is still rumbling on and I still dont have any confidence that the right amounts have been transferred. I really thought that - something as simple as a in-specie transfer of funds between 2 established companies - would be straightforward! I didnt realise they would make multiple mistakes and I would get zero communication!!

That is how it is. You usually need to chase both sides every step of the way, and get everything in writing if you can. You MUST record what your portfolio was before and after the transfer. Screen shots will do.

Sea_Shell

Sea_Shell said:

After 25 mins on the phone to iWeb, they have agreed to abort the rest of the transfer.

Apparently this should happen quickly, as it's on a central electronic database.

Will check Fidelity later.

Block still there this morning.       

Is aborting a partial S&S ISA transfer actually a THING?     Have they promised to do something that is actually do-able?

EG, various ISA tax years, split between two funds.  One fund moves and one doesn't.