ISA transfers out
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I guess it's a good point that Adam makes about rescuing and without the (to many of us) baffling complexity of the structure these days which has the money held by a trustee, it could have been that we would have all lost of our money.
My retirement and consolidation timing was unfortunate, but I expected it to be messy, and I don't think my new IFA and fund manager admin team have helped either, but do agree with another poster that it's the vacuum which has been frustrating.
Interesting comments above about compensation. All my other transfers seemed to work seamlessly as far I could tell, they all went through quickly and I could see the money in the portal at its new home. Yet I've just been paid the 3rd lot of compensation from other providers. Aviva paid without even being asked, they said for delays, but it seemed fine to me.
It does look like mine and wife's ISA transfers are starting to happen now. I've emailed Nik and if he and / or Adam have been instrumental in urging them along then I'm grateful for that.
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I guess it's a good point that Adam makes about rescuing and without the (to many of us) baffling complexity of the structure these days which has the money held by a trustee, it could have been that we would have all lost of our money.
My retirement and consolidation timing was unfortunate, but I expected it to be messy, and I don't think my new IFA and fund manager admin team have helped either, but do agree with another poster that it's the vacuum which has been frustrating.
Interesting comments above about compensation. All my other transfers seemed to work seamlessly as far I could tell, they all went through quickly and I could see the money in the portal at its new home. Yet I've just been paid the 3rd lot of compensation from other providers. Aviva paid without even being asked, they said for delays, but it seemed fine to me.
It does look like mine and wife's ISA transfers are starting to happen now. I've emailed Nik and if he and / or Adam have been instrumental in urging them along then I'm grateful for that.
@Sheepshanks Alas anyone having their case bumped up by " favours" necessarily means than someone has to be bumped down . I mean this in the most general of terms, not Cobens etc . Such is the world .
Perhaps its karma , for my years of jumping to head of many queues in the "developing world " by application of paper lubricants
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I don't know that is has been bumped up as such - it's the vacuum you referred to that seems to be the issue. It seems my fund manager messed up the original transfer request but then there was a long period where no-one from my side knew what was going on as they said Quai wasn't responding much.
It's been frustating to me as I'm in other people's hands when I'm used to sorting things out myself.
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Hi Nick,
I’ve emailed you regarding a transfer request into Vanguard from June. Cobens are stating they have not received a request, Vangard confirmed it was sent 12/6/24 to IM via Origo system. Chasers have been sent to transfers@seccl.tech and abdullah.Kasim@intelligentmoney.com but no responses. Please confirm next steps and if you require transfer request from a different provider name and email etc
Regards
Darren -
Just to 'close out' my transfers - I heard that the money appeared over the last couple of days with my new DFM.
I can't really say how long it's taken as I'm not sure where the correct stating point should be, and, as mentioned earlier, there were some issues with the orginal request from my DFM. Once under way, the selling down and then transfer of the resulting cash happened within a couple of weeks.
I don't know the extent to which Nik / Adam helped, but I'm glad it's all sorted now.
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@higgi I have been in process of transferring and ISA form IM to Vanguard ( which at this point I will state that it looks VERY like it is about done as cobens portal now shows funds taken from the cash pool as been transferred , but vanguard don't show yet . Touch wood, looks like its done deal give or take another day or so )
Now...back to what I was going to say. VANGUARD went around the same dance trying to use Origo which they gave up after I contacted them with all the confusing contact info IM/Cobens/Quai and gt them to focus on the official telephone contact number ( they didn't get thru) and the help desk email.
now the change , VANGUARD issued me with a PAPER from, and instruction how to return to them etc .....and give or take 4/5 weeks later them receiving my completed form by post , seems to have done the trick
Vanguard were kinda stupid on this , as they communicated with me via their secure messages but never mentioned the form for me to print/sign/send..... it just appeared in my document folder . I only looked at folder as I had made a purchase and wanted to check the form that comes each time to said folder.Thumb in air timings .... 5 weeks IM and Vanguard in circles( each for their own process reasons ) , 5 weeks of a real transfer process progressing logically .
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The industry really needs to shake up the transfer system, the party losing the money seems to have little incentive to move the asset, and the receiver cannot do much beyond poking the sender!
Took NEST 6 months to transfer a mere £5k pension pot to IMPC for 'er indoors last year, Coops helped by poking them but it took an email to NEST's CEO to obtain action.
By direct comparision, I had a Structured Product mature in June, and was able to move it to a different Structured Product with a different supplier within a week.
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Hi Mabbs9
You have mail
Nik
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Hi Paul,
i would think 2 months would be sufficient. If you had dealings with a specific Quai official you could email them to ask for the balance to be remitted. If not I can action this for you if you wish. Checking for dividend receipts would be something I would recommend you do via the dashboard-I wouldn’t rely on the transfers team to do so. There is a small cash balance present
Regards
Adam
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Adam Thanks. I'll let it lie another couple of weeks and then email the general help address.
There is only £141 balance, but its a handy little amount to leave in the Vangauard ISA to use for instant trade fee , as one has to pay the fee with cash that resides in the ISA and not external and no othe way to put cash in( this year )without selling any units.
Not like Cobens all inclusive fee eh ! -
I have been waiting over two months for an ISA transfer out to Hargreaves Lansdown. Nik has been helping me follow up for the last week yet there is no joy. What needs to be done to get this to happen? The funds are sitting as cash except about £20 which is nothing compared to the interest which I am losing on the funds not moving.
I have offered that Cobens keeps the remaining change but just to transfer what is sitting in cash but I don't know how much longer I have to wait for anything to happen here.
This is very frustrating and just leaves a very bad feeling about the company. What can be done here? -
I have been waiting over two months for an ISA transfer out to Hargreaves Lansdown. Nik has been helping me follow up for the last week yet there is no joy. What needs to be done to get this to happen? The funds are sitting as cash except about £20 which is nothing compared to the interest which I am losing on the funds not moving.
I have offered that Cobens keeps the remaining change but just to transfer what is sitting in cash but I don't know how much longer I have to wait for anything to happen here.
This is very frustrating and just leaves a very bad feeling about the company. What can be done here?@leef44
Hi LeefApologies for the delays, as you are aware from our communication this week, I am pushing to get this competed for you. Unfortunately the issue lies with IM/Quai. I have a call with the senior team on Monday and expect to get this resolved for you then.
Nik