iii fees

tracyk23 wrote: »

Have just discovered I am running fees with iii after they bought TD- they say they told me but i can't find anything!
I have 1 lot of shares which are being kept for a long term investment - so I've never paid for a monthly/quarterly service before.
Is there any comeback to iii as I haven't signed anything for their fees? I don't intend to sell in the next coming ears - can I move the shares to a fee free provider?

Yes, you can move the shares to another provider - there are some which don't have ongoing fees for holding (some of those, like IWeb, will charge to open an account, while some of them, like x-o.co.uk, don't).

I think it is likely that they told you in June 2017 about the takeover and that they intended to move everyone to a common platform, and gave you an update on it in early October 2017, and later in October 2017 hey notified you of the new terms of service that were in effect and the pricing that would be coming into effect from 11 December 2017 so you could exit before then if you didn't like the fees, and how you could transfer out for free if you didn't like the service. And then your annual account statement for tax year 2017/18 would have shown the fees paid, and your subsequent quarterly statements would have also shown you the fees paid.

As that's what happened to me. It's unlikely that they forgot that you were a customer. Perhaps you just ignored the emails or let them go into your spam filter.

bowlhead99 wrote: »

I think it is likely that they told you in June 2017 about the takeover and that they intended to move everyone to a common platform, and gave you an update on it in early October 2017, and later in October 2017 hey notified you of the new terms of service that were in effect and the pricing that would be coming into effect from 11 December 2017 so you could exit before then if you didn't like the fees, and how you could transfer out for free if you didn't like the service. And then your annual account statement for tax year 2017/18 would have shown the fees paid, and your subsequent quarterly statements would have also shown you the fees paid.

Agreed: that is also what happened to me. However, you don't mention that they have just changed/increased their fees, and so the OP might still be allowed to reject the latest change and so transfer elsewhere without being charged for doing so.