New Portfolio Switching Changes?
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Any direct debits will carry on as before yes. No minimums. Implementation from now. We have built in flexibility so to answer Treebeard's question. If anyone wishes to enter a transaction outside those dates we can accommodate. The policy was originally looked at to avoid very small transactions
@Adam-Kay It's annoying that the goalposts were moved a second time in the latest email. I acted on the first email and changed a direct debit accordingly. I wouldn't have done so with the latest information, assuming what you're saying is correct that small DD's are now ok and will be invested as they were previously.
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@Adam-Kay It's annoying that the goalposts were moved a second time in the latest email. I acted on the first email and changed a direct debit accordingly. I wouldn't have done so with the latest information, assuming what you're saying is correct that small DD's are now ok and will be invested as they were previously.
@Gallons-Per-Mile - I wouldn't characterise it as 'moving goalposts' WBS offered us a way to get close to the previous offer. After the initial Quai communication, Nik looked into a way to find a compromise and this is it.
We had two choices. Either we allowed any frequency which would mean minimum £ OR we offered two transaction dates with no minimums.
Treebeard hits the nail on the head. What we want to discourage is small high volume switching/trading. It creates a lot of work and is contrary to proven investment principles. We chose this solution to allow us to continue to offer all models to everyone rather than restrict their use.
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You missed the point, or perhaps I've interpreted the second email wrong. I've been doing a very small DD monthly for my daughter's JISA. The first email said I can't do this any more so I adjusted accordingly the amount and frequency. The latest email said it doesn't matter any more and I would've preferred to leave things as they were. So as far as I know the goalposts did get moved, and moved again after I tried to comply with the first set.
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Hi
Your interpretation is correct and I understand your frustration and can only offer my apologies. Given the original WBS terms a £300 min for investment in the active funds was the best way to make sure you, as clients, gained the correct exposure to the holdings. However we felt that the imposition of a £300 min for investment was not ideal and were working with WBS to find a solution, this wasn't possible before the deadline for the original communication.
We did then manage to find the outcome we were looking for while the implementation process was in flight and so were able to offer no minimums for d/d which I think is a good outcome and so we made the change. Aplogies again that the journey wasn't ideal but I do think the end result is a good one
Cheers -
Just read the lattest email. So I assume now we can make two switches per month FOC on dates stated. My son had a direct debit set up for £100 a month i assume this will just carry on and the minimum £300 mentioned in prior email now is not happening.
@Jason-Knowles You can make as many switches as you want to, they just need to be on the 1st or 14th of the month. So multiple switches across your holdings or accounts are possible
Cheers -
Thanks for reply Nik, have a good weekend.
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Hi
Your interpretation is correct and I understand your frustration and can only offer my apologies. Given the original WBS terms a £300 min for investment in the active funds was the best way to make sure you, as clients, gained the correct exposure to the holdings. However we felt that the imposition of a £300 min for investment was not ideal and were working with WBS to find a solution, this wasn't possible before the deadline for the original communication.
We did then manage to find the outcome we were looking for while the implementation process was in flight and so were able to offer no minimums for d/d which I think is a good outcome and so we made the change. Aplogies again that the journey wasn't ideal but I do think the end result is a good one
Cheers@Nik-Burrows Ok, thanks Nik. So if I reinstate the small DD monthly it will still invest every month as it always used to. That is my preferred way to pay in to the JISA.
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On the switching dates, does it mean we need to time the switches to the day before or is there a way to do that when instructing the switch (sorry haven't tested on the platform)?
Or is it that any instructions given at any time will default to the 1st or 14th that comes next, unless pre-agreed individually for a separate date?
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@Nik-Burrows Ok, thanks Nik. So if I reinstate the small DD monthly it will still invest every month as it always used to. That is my preferred way to pay in to the JISA.
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On the switching dates, does it mean we need to time the switches to the day before or is there a way to do that when instructing the switch (sorry haven't tested on the platform)?
Or is it that any instructions given at any time will default to the 1st or 14th that comes next, unless pre-agreed individually for a separate date?
@xera
Unless otherwise instructed and agreed the switch will be processed on the next switch date i.e. the 1st or the 14th of the monthCheers
