Witan Jump closing

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ardvarky
ardvarky Posts: 1 Newbie
in Savings & investments
Hi all,

I have a Witan Investment Jump account and have just been notified that Witan no longer wish to administer the scheme

They have to option of cashing in, transfer to another provider or move to Hargreaves Lansdown (which I don't want to do).

Anyone here have the same savings scheme? and what are you planning to do?

Thanks in advance.

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  • atush
    atush Posts: 18,726 Forumite
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    We do, but not sure i can move it to HL as I am american and not sure they take american citizens as clients.

    May have to transfer to the OH in that case.
  • Fizzeroo
    Fizzeroo Posts: 2 Newbie
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    I’m thinking of cashing them in and getting kids LISAs, trickling in 4,000 a year over a few years. I got these funds when my children were younger and now they are both over 18
  • Fizzeroo
    Fizzeroo Posts: 2 Newbie
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    I think HL charges are high for smaller investors
  • Westin
    Westin Posts: 5,940 Forumite
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    I am in the same boat. Originally two Witan Jump savings accounts for the kids. They now hold in their own names since reaching 18 years old.

    I’m not impressed with the HL charges and I suggested to the kids on getting the cash out. I thought it would have been nice if Witan had sent a statement when they sent the information pack. Instead we had to call Witan who clearly are busy. Gave up one day and a 40 minute wait the next. The last statement we had was in October and the value was £19.2k. One the phone when my daughter reached them she was told the value was £17.4k. Surely the stock has not been that volatile in 3 months. Anyone else found this?
  • Alexland
    Alexland Posts: 9,653 Forumite
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    Westin wrote: »
    The last statement we had was in October and the value was £19.2k. One the phone when my daughter reached them she was told the value was £17.4k. Surely the stock has not been that volatile in 3 months. Anyone else found this?

    This isn't a quirk - stock markets have been that volatile since October. It could have been a lot worse.

    Alex
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