iWeb Change to Scottish Widows

The_Green_Hornet

hallmark said:

This change was due to happen today.

Looks like Iweb is down although no sign yet we can login to SW using Iweb credentials.

           

GeoffTF

Not a good start!

masonic

This was planned maintenance. I saw a warning about it on Tuesday when I logged in to iWeb to check something. In fairness they've got a better record than Interactive Investor, who while I was with them had the habit of taking services down almost every weekend, often both Saturday and Sunday.

friolento

That’s quite disappointing from Scottish Widows. It all seemed so well prepared. 

Rollinghome

masonic said:

This was planned maintenance. I saw a warning about it on Tuesday when I logged in to iWeb to check something. In fairness they've got a better record than Interactive Investor, who while I was with them had the habit of taking services down almost every weekend, often both Saturday and Sunday.

Now that would annoy me. The weekends are when you can best get up-to-date prices of both equities/ITs and funds.  As I remember, Lloyds group banks always do maintenance overnight, as do every other bank I've used, though admittedly the impact of shutting down banking access is more significant.

GeoffTF

Rollinghome said:

Now that would annoy me. The weekends are when you can best get up-to-date prices of both equities/ITs and funds.  As I remember, Lloyds group banks always do maintenance overnight, as do every other bank I've used, though admittedly the impact of shutting down banking access is more significant.

I never trust brokers' prices. IIRC, at least in the past, iWeb's prices after the markets had closed were not always the official closing prices. iWeb's valuations for index linked gilts are always grossly incorrect. I always use third party sources.

Rollinghome

GeoffTF said:

Rollinghome said:

Now that would annoy me. The weekends are when you can best get up-to-date prices of both equities/ITs and funds.  As I remember, Lloyds group banks always do maintenance overnight, as do every other bank I've used, though admittedly the impact of shutting down banking access is more significant.

I never trust brokers' prices. IIRC, at least in the past, iWeb's prices after the markets had closed were not always the official closing prices. iWeb's valuations for index linked gilts are always grossly incorrect. I always use third party sources.

The difference is often down to their methodology.  

Some use the buy/sell mid price while others use the Sell price. The latter makes most sense for portfolio valuation when the Buy price is irreverent.   If you're tracking a share to buy more, then the closing Buy price is likely to be more useful. Need to use the same source to be consistent, and as it's just an historic price anyway, for most purposes it shouldn't be too critical. 

The price that counts most is the buy/sell quote. I always have the LSE page open to see actual prices (but 15 min delayed)  when trading.

talexuser

iWeb were always a day behind on global trackers like Vanguard and Fidelity etc over the weekend, just like Trutsnet and ii, Morningstar used to be the most up to date prices before they changed their website, not so much now. By Sunday most of the above would agree, iWeb on Monday morning for funds. Trusts were mostly ok on agreement.

Rollinghome

A good illustration of how confusing opening and closing prices can be shown here https://www.londonstockexchange.com/stock/FGT/finsbury-growth-income-trust-plc/company-page .  

It shows the official LSE closing offer price of 849.00 which is based on the uncrossing trade 5 mins after the markets closed. There wasn't a single trade that high throughout the day.  HL give the offer price at close as 846, the second to last trade before the UT, and Iweb give the LSE UT price as the valuation. 

It's really just a guide to direction if you stick to the same source. It won't be what you'd get if you liquidate your pf on Monday morning.

With funds some managers get the price out within an hour or two after the valuation point and with others it can be up to a day.

SevenUpPear8

The new link is https://www.scottishwidows.co.uk/investing.html

Won't be able to log in (or apply) until after midnight it seems.