Contacting HL by phone - Not Good

Stargunner

dealyboy said:

Stargunner said:

Beddie said:

They have been getting away with high charges and a very average service for a long time. The website is very slow and in need of an overhaul. As the market leader by a long way, they can rely upon the inertia of most people, who will never transfer away from them.

I am actually thinking of transferring my Sipp to HL as the £1500 cashback  offer is very tempting. I could leave it with them for a year and then transfer it out again.

Link for cashback offer details:
https://www.hl.co.uk/features/cashback#:~:text=Pension transfers,16 March 2023 to qualify.

Thanks, I have already registered, just have to decide whether to go shead with the transfer. 

Stargunner

charlie12525 said:

Stargunner said:

Beddie said:

They have been getting away with high charges and a very average service for a long time. The website is very slow and in need of an overhaul. As the market leader by a long way, they can rely upon the inertia of most people, who will never transfer away from them.

I am actually thinking of transferring my Sipp to HL as the £1500 cashback  offer is very tempting. I could leave it with them for a year and then transfer it out again.

That is how I got lured in. With around 30 individual share holdings in my HL SIPP it is now too expensive for me to sell them all and move on!

I just have a couple of etf’s with fidelity to keep the costs down and a money market fund. Fidelity don’t offer a money market etf but HL do which would help keep my charges down.

GeoffTF

charlie12525 said:

Stargunner said:

Beddie said:

They have been getting away with high charges and a very average service for a long time. The website is very slow and in need of an overhaul. As the market leader by a long way, they can rely upon the inertia of most people, who will never transfer away from them.

I am actually thinking of transferring my Sipp to HL as the £1500 cashback  offer is very tempting. I could leave it with them for a year and then transfer it out again.

That is how I got lured in. With around 30 individual share holdings in my HL SIPP it is now too expensive for me to sell them all and move on!

Why would you want to sell them? You can transfer them to another broker without selling them: an in specie transfer. That will cost you nothing.

london21

I tried to call them on Friday 17/02 the wait time was over 15 minutes.
Today 20/02 phone was answered within a minute. 
They have usually been efficient.

Moved my ISA funds to Iweb due to their high management fees. 

Beddie

Stargunner said:

Beddie said:

They have been getting away with high charges and a very average service for a long time. The website is very slow and in need of an overhaul. As the market leader by a long way, they can rely upon the inertia of most people, who will never transfer away from them.

I am actually thinking of transferring my Sipp to HL as the £1500 cashback  offer is very tempting. I could leave it with them for a year and then transfer it out again.

They are fine for leaving your money in there and to do top-ups etc. It just seems harder to contact them or get a swift response if you have an issue.

charlie12525

GeoffTF said:

charlie12525 said:

Stargunner said:

Beddie said:

They have been getting away with high charges and a very average service for a long time. The website is very slow and in need of an overhaul. As the market leader by a long way, they can rely upon the inertia of most people, who will never transfer away from them.

I am actually thinking of transferring my Sipp to HL as the £1500 cashback  offer is very tempting. I could leave it with them for a year and then transfer it out again.

That is how I got lured in. With around 30 individual share holdings in my HL SIPP it is now too expensive for me to sell them all and move on!

Why would you want to sell them? You can transfer them to another broker without selling them: an in specie transfer. That will cost you nothing.

Thanks for the info. You are correct. I got it mixed up with a transfer of GIA to ISA where you do have to sell and re-buy.