X-O (Jarvis) online platform to close in the summer

Hoenir

None of my straight forward transfers happened in under 3 weeks.  Given that all accounts are now in the process of leaving JIM. Be no great surprise if there isn't a backlog of work in the system. Given the volumes involved. Phone calls simply stop someone from doing something productive. 

ChangFai

Now into July, and my Stocks & Shares ISA has still not been transferred over from X-O to iweb.
Both of them just passing the buck back and forward, and as far as I can see there is very little I can do about.

refluxer

Hoenir said:

Phone calls simply stop someone from doing something productive. 

That's a fair comment - I was being a bit flippant really and haven't contacted them yet. It's a shame there isn't a way of monitoring the progress of this type of thing in any way other than logging in every few days to check whether the shares are present/absent or having to wait for an email.

Hoenir

refluxer said:

Hoenir said:

Phone calls simply stop someone from doing something productive. 

That's a fair comment - I was being a bit flippant really and haven't contacted them yet. It's a shame there isn't a way of monitoring the progress of this type of thing in any way other than logging in every few days to check whether the shares are present/absent or having to wait for an email.

The reregistration of investments lies with third parties. 

ChangFai

ChangFai said:

Now into July, and my Stocks & Shares ISA has still not been transferred over from X-O to iweb.
Both of them just passing the buck back and forward, and as far as I can see there is very little I can do about.

And now being told, anything in my X-O account on the 4th of July, will automatically transfer over to ii.

Even though, I have told them I will not be moving to ii, and have filled in all documentation for the transfer to iweb, in April.

Utter shambles.

phlebas192

ChangFai said:

Now into July, and my Stocks & Shares ISA has still not been transferred over from X-O to iweb.
Both of them just passing the buck back and forward, and as far as I can see there is very little I can do about.

Had a similar experience trying to transfer my mother's ISA to Hargreaves Lansdown. Her GIA transferred fine but there just didn't seem to be any communication between Jarvis & HL with the ISA and finally after two months (!) Jarvis claimed that the account number was wrong (it most certainly was not). I ended up telling HL to cancel the transfer and will reinitiate it after it's bedded in with II. I know that II are efficient when it comes to transferring ISAs in to them so I hope they'll be equally so transferring out!

buglawton

For wife & I the automatic transfer to Interactive Investor has now happened, with big currency related mistakes. I've posted the detail on Reddit as that thread seems to have had more activity recently than here. But will check this thread in case new contributions are arriving here too.

HonestJohn

buglawton said:

For wife & I the automatic transfer to Interactive Investor has now happened, with big currency related mistakes. I've posted the detail on Reddit as that thread seems to have had more activity recently than here. But will check this thread in case new contributions are arriving here too.

Just checked my jarvis account and it has been completely voided. Now to find out how to cancel my ii account.
No confirmation from anyone that the transfer has been completed.

wmb194

buglawton said:

For wife & I the automatic transfer to Interactive Investor has now happened, with big currency related mistakes. I've posted the detail on Reddit as that thread seems to have had more activity recently than here. But will check this thread in case new contributions are arriving here too.

This is common with in specie transfers: just tell ii what you want the book cost to be. 

You should be keeping your own records of the trades and their values, you mustn't rely on brokers to keep track.

"The X-O transfer has happened for my wife's and my ii accounts. Straight away I regret not having saved the transaction history from X-O as that did not come across, just a single cash value transfer on each of the Investment and the ISA accounts. I will email X-O to see if an export of the history can be had. I wonder if when you transfer a bank account the same thing happens?

Instantly inside ii something looked off, seeing 30% gains from book (when purchased) to current value on some US stocks when no such gain happened.

During the transfer, X-O and ii have mangled up the currency values so that book was £ but is being stated in $, yet current value is $. That '30%' is due to the currency conversion rate!

Luckily on my wife's PC she still had an X-O portfolio browser tab open from Friday so I how have lovely screenshots showing exactly the $-£ error.

I'm assuming this error is so glaring that it'll be fixed within a few days, not sure if I can be bothered to raise it with ii's support team.

Talk about rookie IT errors!"

https://www.reddit.com/r/UKPersonalFinance/comments/1k00x8n/xo_jarvis_moving_its_customers_to_interactive/

buglawton

wmb194 said:

buglawton said:

For wife & I the automatic transfer to Interactive Investor has now happened, with big currency related mistakes. I've posted the detail on Reddit as that thread seems to have had more activity recently than here. But will check this thread in case new contributions are arriving here too.

This is common with in specie transfers: just tell ii what you want the book cost to be. 

You should be keeping your own records of the trades and their values, you mustn't rely on brokers to keep track.

https://www.reddit.com/r/UKPersonalFinance/comments/1k00x8n/xo_jarvis_moving_its_customers_to_interactive/

Thanks for adding the Reddit link. I'll see how ii responds to my ticket about resetting the book values. If X-O know the currency, so should ii. 

I do export the transactions from time to time, trouble is keeping so much stuff up to date. A core purpose of financial platforms IMO is to securely keep track of transactions!