advice on regular payments into a SIPP please

Linton

sadexpunk said:

just had a secure message from II regarding my transfer from HL.

We have reviewed the valuation of assets from your current provider. Unfortunately, we don’t support the following investments on our platform. Please review the options available going forward.

 

Uncrystallised: (not in drawdown)

 

LINDSELL TRAIN LIMITED GLOBAL EQUITY D NAV IE00BJSPMJ28 - Alternative share class available: IE00B3NS4D25

GLOBAL VALUE EQUITY X GBP ACC UNHGD GB00BF5DRJ63 - Alternative share class available: GB00BF5DS374

 

You can choose from one of the following options:

 

1) Keep the investments with your current provider

2) Sell and transfer as cash (GBP)

3) Convert the investments to another class

whats the best option here?  sell, then transfer as cash?  especially if im looking at maybe cashing in my 6 funds and starting those 3 recommended earlier?  so start from scratch once the transfers done?

i dont really understand option c, and dont particularly want a small SIPP left with HL (2 sets of fees).

thanks

The message says that the Share Classess are not available.  Share classes refer to different versions of the same investment.  

So for example Lindsell Train Global Equity D Inc is available on HL with charges of 0.52% But not on II.
On II the fund is Lindsall Train Global Equity B Inc with charges of 0.67%.

Presumably HL have higher sales of the fund than II and so can negotiate a better deal.

So if you want to stay with the funds despite the higher charges you should choose option 3.

sadexpunk

well ive just rang II and they couldnt help me, they said id need independent advice on which option to choose.  all i wanted them to tell me was which out of b and c would be the cheapest to do.

so...... im none the wiser.  i dont really know how id find that out myself, would you?

i explained that im not precious about what the funds are now, or when theyre transferred over as id probably be changing them anyway, but still no joy.

another thing i dont particularly understand is the 2 'investments' above that they say cant transfer as is, i dont have listed in my 6 current funds (fidelity index US, IFSL marlborough uk micro-gap growth, legal & general uk index, scottish mortgage investment trust plc, vanguard FTSE developed europe ex-uk equity index, vanguard japan stock index), unless theyre 'sub funds' or something?

knowing what my plans are, which is to get the full value of everything swapped over to II from HL, would you have any idea which option i should choose?  i dont want to particularly pay hundreds of £'s to 'swap classes' or 'sell' to transfer as cash.  although im thinking what i need to end up with is the full value of all of these funds as cash in II to then buy those 3 funds that were recommended to me earlier ^^^.

thank you

dunstonh

well ive just rang II and they couldnt help me, they said id need independent advice on which option to choose.  all i wanted them to tell me was which out of b and c would be the cheapest to do.

They cannot tell you that.  It is an advice question and they don't hold advice permissions.

another thing i dont particularly understand is the 2 'investments' above that they say cant transfer as is, i dont have listed in my 6 current funds (fidelity index US, IFSL marlborough uk micro-gap growth, legal & general uk index, scottish mortgage investment trust plc, vanguard FTSE developed europe ex-uk equity index, vanguard japan stock index), unless theyre 'sub funds' or something?

A couple of those funds have a "superclean" share class that isn't available on II.  You would have to change those two funds if they wont accept them.

 i dont want to particularly pay hundreds of £'s to 'swap classes' or 'sell' to transfer as cash.

It wont cost anything to change share classes

sadexpunk

It wont cost anything to change share classes

ah lovely.  so it makes sense to change classes so that the full value gets swapped over without a hitch, and then change the investments/funds yes?

thank you very much

dunstonh

ah lovely.  so it makes sense to change classes so that the full value gets swapped over without a hitch, and then change the investments/funds yes?

Sometimes it is better to let the receiving scheme handle the share class conversion. Other times it is better to let the ceding scheme do it.   Its swings and roundabouts really with the only difference being which one will do it.

DRS1

sadexpunk said:

another thing i dont particularly understand is the 2 'investments' above that they say cant transfer as is, i dont have listed in my 6 current funds (fidelity index US, IFSL marlborough uk micro-gap growth, legal & general uk index, scottish mortgage investment trust plc, vanguard FTSE developed europe ex-uk equity index, vanguard japan stock index), unless theyre 'sub funds' or something?

Log in to your HL account and check that the two oddities are actually listed in your SIPP portfolio.  If not do you hold them in some other account with HL?  If not someone has made a mistake and you should query it with ii.  Perhaps they got you mixed up with someone else.

sadexpunk

oooh so they wont be 'sub-funds' then, elements of one of the funds i already have?  i dont have any other accounts with HL so id better check then.  thank you.

EDIT:  ive just sent them a secure message asking them to look into it and suspend the transfer until we're sure that theres not been a mix-up.  thanks

MeteredOut

sadexpunk said:

oooh so they wont be 'sub-funds' then, elements of one of the funds i already have?  i dont have any other accounts with HL so id better check then.  thank you.

EDIT:  ive just sent them a secure message asking them to look into it and suspend the transfer until we're sure that theres not been a mix-up.  thanks

Earlier on in the thread, you suggested you might buy into different funds once you've transferred, away from the 6 you have. If you have decided you do that, it might be simpler to sell your existing holdings in your existing SUPP and just do a cash transfer (though work out the relative costs of doing that versus transferring in-specie and then selling on the new platform).

sadexpunk

Earlier on in the thread, you suggested you might buy into different funds once you've transferred, away from the 6 you have. If you have decided you do that, it might be simpler to sell your existing holdings in your existing SUPP and just do a cash transfer (though work out the relative costs of doing that versus transferring in-specie and then selling on the new platform).

well i dont believe theres any charge in transferring over which is why i went down that road, and when i rang HL they said if i was to sell, then i could either do it myself for a lower fee (which i dont know how to do) or i could get them to sell them for a higher fee.

so i thought easiest (and cheapest) was to just get it all moved over, and then see how much it would cost for II (or me) to sell and then buy these other 3 funds.  and if a silly amount of money then just leave them.

do you think thats reasonable?

MallyGirl

I don't know HL's software but on ii it is incredibly easy to sell - click on the fund you own and you get 2 buttons Buy More and Sell. Is it harder than that?