iWeb Change to Scottish Widows

jimjames

I've just logged into my iWeb account and noticed a banner that they are now going to be known as Scottish Widows sharedealing which will also give access to the Scottish Widows app.

https://www.iweb-sharedealing.co.uk/changes.html

I wonder if this name change will increase their reach and profile to gain more customers that might otherwise have ignored them not knowing they are part of Halifax/Lloyds group.

It will be useful to have access to the app as long as it doesn't mean increased costs (they've said nothing will change at the moment)

MK62

... "at the moment" being the key phrase. Companies rarely spend money on a complete rebrand and then change nothing, but we'll have to wait and see.......

QrizB

Interesting.

My workplace pension is with Scottish Widows. I also have a Halifax credit card and the value (no other details) of my SW pension appears in my Halifax app.

Wonder if this means I'll get to see the value of my iWeb SSISA in my Halifax app too?

ColdIron

These things are always mildly worrying, what else will change in time? But the launch of free regular investing will be a welcome introduction for some. I don't use it myself but it's always been an obvious gap in their service that discouraged smaller frequent transactions

It will be effectively free if you want it to be

dunstonh

Lloyds have been spending some money on SW in recent years (well overdue).  SW is a far stronger brand name and it makes sense for them to use that.

Section62

ColdIron said:

These things are always mildly worrying, what else will change in time? ...

Unfortunately they are smart enough not to say "forever" 

EthicsGradient

I had no idea Scottish Widows was part of Lloyds - since 2000, apparently.

Wikipedia notes that Lloyds acquired "Embark" - " a fast-growing investment and retirement platform business" of which I hadn't heard before - in 2022, and rebranded it as Scottish Widows in 2023:  Embark Platform to rebrand as Scottish Widows Platform - Embark Group . I guess this is the "Scottish Widows app".

The "Free regular investing - invest monthly through our new plan without paying the usual £5 commission" bit is interesting, though. That was where other platforms caught up with iWeb for charges.

Beddie

It's a good idea if they want to increase market share, as Scottish Widows is a better known brand. As for the fees, they could change at any time, whatever brand they use.
I personally use the Lloyd's Bank version of the platform, which is £40 per year for both ISA & GIA accounts. It gives free regular investing and only £1.50 to buy or sell funds, which I tend to do a few times a year. Still very cheap compared to the likes of HL, if you use funds.
But for buy and hold, iweb/SW is fantastic value.

Alistair31

I welcome this. 

I will drip feed my cash that’s in there into my long term fund holding. Having an App is also good.  

SevenUpPear8

Do Scottish Widows workplace pensions still show in people's Lloyds bank apps? Or have they been removed and now only available in the SW app.

Just asking as I don't have a SW pension, but I do have IWeb, so I wondered if this rebrand meant they might potentially also show the new Scottish Widows branded S&S ISA in the Lloyds app, or if everything will be moved to the standalone SW app (pensions, ISAs the whole lot).

SevenUpPear8

SevenUpPear8 said:

Do Scottish Widows workplace pensions still show in people's Lloyds bank apps? Or have they been removed and now only available in the SW app.

Just asking as I don't have a SW pension, but I do have IWeb, so I wondered if this rebrand meant they might potentially also show the new Scottish Widows branded S&S ISA in the Lloyds app, or if everything will be moved to the standalone SW app (pensions, ISAs the whole lot).

Sorry - ignore this comment of mine. I just saw QrizB's comment - don't know how I missed it!