Transfer from ii to HL

Joey2013

Good evening,

We are in the process of transferring 2 x ISA and 2 x SIPP accounts from ii to HL. We held Fidelity Index world P acc. and HSBC ftse all world C acc. in these accounts. To avoid HL fund charges, we have changed the tracker funds to iShares msci world etf SWDA.

I would appreciate forum members opinions on whether having about 760k (68%) in one etf is too much, and if so which other etf's I should look at.

We have about 22% in 2 x general investment accounts, in the HSBC ftse all world index C inc. and about 10% in cash.

TIA

dunstonh

I would appreciate forum members opinions on whether having about 760k (68%) in one etf is too much, and if so which other etf's I should look at.

It needs a bit of context.
Some would be put off by the fact there is no FSCS protection.  However, experienced investors less so.
£760k in 100% equities.     So, it could be worth £380k in 12 months.   That would be uncomfortable for most UK consumers.   However, if you have a similar £760k in cash savings as well, then its not that much of a risk.

jimjames

Any reason you've chosen HL rather than ii or iweb?

Joey2013

Hi dunstonh, I understand that equities can crash 50% and I accept that. I also have similar amount invested in property. My concern is having that amount in one etf too much and should I split it across 2 or 3 etfs.

Hi jimjames, I am moving from ii to HL to diversify platforms, leaving our GIA with ii. Also taking advantage of HL cashback offer.

GeoffTF

It is very unlikely that you will lose money as result of massive fraud or insolvency at BlackRock. It is much much more likely that you will lose a lot of money as a result of a prolonged stock market down turn. If you want something to worry about, worry about that.

artyboy

Blimey, I feel like I've got a doppelgänger... well, pretty close anyway. I'll be doing an ISA/SIPP xfr from II to HL soon (for the cashback), and I've got in the region of £750k in HMWO.

And I'm perfectly happy with that, if it makes you feel better 😀

ChesterDog

artyboy said:

Blimey, I feel like I've got a doppelgänger... well, pretty close anyway. I'll be doing an ISA/SIPP xfr from II to HL soon (for the cashback), and I've got in the region of £750k in HMWO.

And I'm perfectly happy with that, if it makes you feel better 😀

Me too.

No sooner have I got everything consolidated on iWeb, than I've shifted everything to HL (sipps still in progress) for the incentive, having swapped HSBC Oeic to VWRP first.

VWRP holding is £965k.

Alexland

Joey2013 said:

I would appreciate forum members opinions on whether having about 760k (68%) in one etf is too much, and if so which other etf's I should look at.

For developed world Vanguard VEVE, HSBC HMWO and Blackrock SWDA are all very similar ETFs. Obviously the first two pay divis which would need reinvesting if you are in accumulation. Maybe hold a different one in each account to give you some diversity of fund manager although though their investment performance will be correlated. When trading larger volumes be careful not to pay too much market spread.

london21

jimjames said:

Any reason you've chosen HL rather than ii or iweb?

What went to my mind. I have moved from HL to Iweb due to the cheaper fees. 

Joey2013

Alexland said:

Joey2013 said:

I would appreciate forum members opinions on whether having about 760k (68%) in one etf is too much, and if so which other etf's I should look at.

For developed world Vanguard VEVE, HSBC HMWO and Blackrock SWDA are all very similar ETFs. Obviously the first two pay divis which would need reinvesting if you are in accumulation. Maybe hold a different one in each account to give you some diversity of fund manager although though their investment performance will be correlated. When trading larger volumes be careful not to pay too much market spread.

Hi Alexland, thanks for your suggestions. I will think about having different ETFs in different accounts. VHVG is the accumulation version of VEVE which is available on HL. The accumulation version of HMWO is not available on HL as far as I can see.

jaybeetoo

I recently moved my SIPP and ISA from ii to HL.  It took 3 months and ii were useless.  They did not communicate and I was having to phone them nearly every week.  Before the transfer I was happy with ii.  Following my poor transfer experience I wouldn’t go back to them.

From my experience I would say ii do not have the IT systems, processes or staff training to cope with a transfer where dividends arrive after the transfer of investments.