Hargreaves Pension Cashback

michaels

SO if one were just looking to max cashback opportunity, could one transfer a proportion of an ii fund holding (say 125k out of 500 held in a global tracker fund) in specie to HL and then once it arrives at HL sell and rebuy as an ETF? 
Would it be possible to transfer some but not all of a fund holding? 
Would this minimise the transaction charges? What would HL charge if you had say a fund holding for 1 week and an etf thereafter?
Would there be any delay been the sale of the fund and being able to use the funds to rebuy the ETF?

Thanks

granta

michaels said:

SO if one were just looking to max cashback opportunity, could one transfer a proportion of an ii fund holding (say 125k out of 500 held in a global tracker fund) in specie to HL and then once it arrives at HL sell and rebuy as an ETF? 
Would it be possible to transfer some but not all of a fund holding? 
Would this minimise the transaction charges? What would HL charge if you had say a fund holding for 1 week and an etf thereafter?
Would there be any delay been the sale of the fund and being able to use the funds to rebuy the ETF?

Thanks

I did a partial transfer from ii to HL to maximise the cashback opportunity. I think I did my converting from fund to ETF whilst it was still with ii to use up my trading credits but no reason why you can't do this once it arrives at HL.

NedS

michaels said:

SO if one were just looking to max cashback opportunity, could one transfer a proportion of an ii fund holding (say 125k out of 500 held in a global tracker fund) in specie to HL and then once it arrives at HL sell and rebuy as an ETF? 
Would it be possible to transfer some but not all of a fund holding? 
Would this minimise the transaction charges? What would HL charge if you had say a fund holding for 1 week and an etf thereafter?
Would there be any delay been the sale of the fund and being able to use the funds to rebuy the ETF?

Thanks

Even if not, it would be trivial to sell the desired amount and reinvest into any number of funds with near identical short-term performance before transferring to mitigate against time out of the market if that is a concern.

michaels

NedS said:

michaels said:

SO if one were just looking to max cashback opportunity, could one transfer a proportion of an ii fund holding (say 125k out of 500 held in a global tracker fund) in specie to HL and then once it arrives at HL sell and rebuy as an ETF? 
Would it be possible to transfer some but not all of a fund holding? 
Would this minimise the transaction charges? What would HL charge if you had say a fund holding for 1 week and an etf thereafter?
Would there be any delay been the sale of the fund and being able to use the funds to rebuy the ETF?

Thanks

Even if not, it would be trivial to sell the desired amount and reinvest into any number of funds with near identical short-term performance before transferring to mitigate against time out of the market if that is a concern.

There is time out of market risk and there is also trying to avoid selling (and buying) transaction cost on II - I think the bundled 'free' trades are only up to a relatively small value with II?

Albermarle

michaels said:

NedS said:

michaels said:

SO if one were just looking to max cashback opportunity, could one transfer a proportion of an ii fund holding (say 125k out of 500 held in a global tracker fund) in specie to HL and then once it arrives at HL sell and rebuy as an ETF? 
Would it be possible to transfer some but not all of a fund holding? 
Would this minimise the transaction charges? What would HL charge if you had say a fund holding for 1 week and an etf thereafter?
Would there be any delay been the sale of the fund and being able to use the funds to rebuy the ETF?

Thanks

Even if not, it would be trivial to sell the desired amount and reinvest into any number of funds with near identical short-term performance before transferring to mitigate against time out of the market if that is a concern.

There is time out of market risk and there is also trying to avoid selling (and buying) transaction cost on II - I think the bundled 'free' trades are only up to a relatively small value with II?

If you are getting > £1000 cashback, then the odd extra trading charge is neither here nor there.

michaels

michaels said:

NedS said:

michaels said:

SO if one were just looking to max cashback opportunity, could one transfer a proportion of an ii fund holding (say 125k out of 500 held in a global tracker fund) in specie to HL and then once it arrives at HL sell and rebuy as an ETF? 
Would it be possible to transfer some but not all of a fund holding? 
Would this minimise the transaction charges? What would HL charge if you had say a fund holding for 1 week and an etf thereafter?
Would there be any delay been the sale of the fund and being able to use the funds to rebuy the ETF?

Thanks

Even if not, it would be trivial to sell the desired amount and reinvest into any number of funds with near identical short-term performance before transferring to mitigate against time out of the market if that is a concern.

There is time out of market risk and there is also trying to avoid selling (and buying) transaction cost on II - I think the bundled 'free' trades are only up to a relatively small value with II?

If you are only doing it for the cashback you might as well do it in the most cost effective way...and I don't think II charges are that cheap when you transact larger sums.

bownyboy

So I did the transfer. ISA was complete in about 10 days (with about 3 days out of the market) and the £1k bonus was deposited into cash account the day after the ISA transferred.

SIPP is in process out of the market from today waiting to see how long the cash transfer will be, hopefully not too long.

The only issue I have with HL is the weird fee payment / cash balance process. For ii it was a simple direct debit every month. HL has 3 options for payment which I don't understand at all. Going to have to slowly read it again.

Albermarle

bownyboy said:

So I did the transfer. ISA was complete in about 10 days (with about 3 days out of the market) and the £1k bonus was deposited into cash account the day after the ISA transferred.

SIPP is in process out of the market from today waiting to see how long the cash transfer will be, hopefully not too long.

The only issue I have with HL is the weird fee payment / cash balance process. For ii it was a simple direct debit every month. HL has 3 options for payment which I don't understand at all. Going to have to slowly read it again.

The £1000 will be paid into your loyalty bonus account. Fees will be taken from this as the default, if you do not do anything AFAIK .

Rich1976

bownyboy said:

So I did the transfer. ISA was complete in about 10 days (with about 3 days out of the market) and the £1k bonus was deposited into cash account the day after the ISA transferred.

SIPP is in process out of the market from today waiting to see how long the cash transfer will be, hopefully not too long.

The only issue I have with HL is the weird fee payment / cash balance process. For ii it was a simple direct debit every month. HL has 3 options for payment which I don't understand at all. Going to have to slowly read it again.

The easiest option is just to allow them to take it out of the fund with the highest balance. Always been straightforward for me unlike other companies where you have to have extra money available to pay the fee eg direct debit or having it in the cash balance .

noclaf

I hold a SIPP with Fidelity, had this a couple of years now from a previous cashback offer and is currently invested into a single ETF.

Has anyone transferred from Fidelity from HL and any idea how the timelines would compare for an in-speccie Vs cash transfer? I am quite tempted based on current cashback!