ashtondav
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Post by ashtondav on May 20, 2021 8:18:22 GMT
If you want to witness service in ISA transfers look no further than Hargreaves lansdown. Pathetic! Until there is financial sanction for transfers of cash of over a month the charlatans will continue to hold your money. I requested a simple transfer of £1000 of uninvested cash from my HL ISA to Vanguard. It's been around 6 weeks without hearing anything.
Today I started to receive contract notes from HL to the tune of about £50k. It seems that a communication error has resulted in my entire holding in HL being sold.
HL have blamed Vanguard, and Vanguard are looking into it.
Same here. Definitely HL telling porkies. Penalty of 1% on sum outstanding after 30 days would fix it. That would grease HL’s sclerotic wheels. It’s very clear what they do - put transfer requests to the bottom of the “to do list”. And keep them there cos there’s no penalty.
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ashtondav
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Post by ashtondav on May 17, 2021 17:13:23 GMT
If you want to witness service in ISA transfers look no further than Hargreaves lansdown. Pathetic! Until there is financial sanction for transfers of cash of over a month the charlatans will continue to hold your money.
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ashtondav
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Post by ashtondav on May 17, 2021 8:22:30 GMT
Hargreaves Lansdown told me on Friday that they have began reaching out to AC to start the transfer process. Will reply back when it is complete! I believe it be quite a few weeks from some posts about HL & AC in the past round here. My experience of hL and ISA transfers is awful. I just wanted to transfer cash from my s&s hL ISA to a cash ISA. 3 months later, many excuses, always blaming the other company nothing happened. Incompetence of a massive scale.
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ashtondav
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Post by ashtondav on May 13, 2021 9:12:52 GMT
Why the hell is this thread still going. Exit available. 0%.
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ashtondav
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Post by ashtondav on May 5, 2021 13:38:00 GMT
Some of it is psychological. It’s 1999 and I’m 20 years old investing 5k a year for the next 22 years. Would I prefer an average 10%pa return with two or three Savage drawdown years of 30%+, or would I prefer a smooth, inflation busting 4% a year. Probably the former so I’d go to the stock market. The same year and I’m 65 years old I’d probably go for the latter option as the former would be bad for my heart, my marriage and my spend pattern. Probably go p2p.
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ashtondav
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Post by ashtondav on May 5, 2021 11:53:47 GMT
Yes indeed but it took several years. Whereas I clocked up a decent 6 or 7% a year with Zopa. And with FTSE100 if you’d spent your dividends your capital would just be breakeven after 22 years. Timing matters a lot in shares.
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ashtondav
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Post by ashtondav on May 5, 2021 11:43:13 GMT
All this doom mongering.
It won’t be worse than the 2008 recession and I sailed through that making interest with Zopa. Whereas my shares plunged 30% and there were several worries about bank accounts, building societies and Nordic savings accounts until govt bail outs.
to put it another way Zopa fared better than most financial institutions in that recession. I made about 7%pa with Zopa with bs interest at 5%. I’m now making 4% on Zopa with bs interest at about 0.5%pa. Seems fair.
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ashtondav
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Post by ashtondav on May 3, 2021 13:47:06 GMT
The speedboat
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ashtondav
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Post by ashtondav on Apr 30, 2021 11:03:19 GMT
4% are fine, but not for the risk. What if AC had gone bust, which is what some speculated online here during the last year? Also: You could have made more than 4% out of the money in these turbulent times. True in equities. But had I gone all in in February i’d Have lost 30% in a couple of weeks. Had I invested in the market 21 years ago I would only have had the dividends. The capital has remained the same. Volatility matters.
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ashtondav
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Post by ashtondav on Apr 29, 2021 11:57:18 GMT
A shame about the utter incompetence of FS. The idea of p2p pawn was a good one.
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ashtondav
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Post by ashtondav on Apr 29, 2021 11:15:29 GMT
The most turbulent, economically destructive 12 months since the 2nd world war and I’ve grossed 4% - what’s not to like! (Of course I haven’t needed the capital and I never considered them “ACCESS”)
However the ending of furlough means we may not have reached the end of the economic woe. So, it all depends on yourrisk reward perspective. With Marcus paying me 0.5%, and the premium bonds not much more I may well be sticking more into Zopa, ac and (new investor caveat) loanpad.
But should AC change the name of these accounts? YES!
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ashtondav
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Post by ashtondav on Apr 28, 2021 14:40:50 GMT
Hmmmm. But although I’ve never had any cashback my taxable bonus is £40 less than my total “early adopter” bonus.
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ashtondav
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Post by ashtondav on Apr 27, 2021 8:39:15 GMT
It is still operating in the current state of the AAs whatever that is but I assume it it is not normal market conditions.
If you wish to withdraw money it is placed in the queue at 0% and you need to wait for a buyer. I found this out when a few pence was still in my QAA account and I wanted to clear it out so I put in a withdraw request, went through quickly.
Although the questions are academic for me it would be nice to know what states the AAs are in at any one time (is it possible for the different accounts to be in different states) and where this information is published, also if not in normal market conditions what is the queue length so people wishing to withdraw can make decisions on how much in advance to place a withdrawal. For those in the notice accounts it makes sense to keep notice on some of the funds and and cancel at the end of the notice period if not required (as full interest is paid during the notice period).
Also would be interesting to see if anyone went for the exit accounts, I assume they have started based on a recent post on this board. I guess if you did you did not get these recent payout if so the exit accounts are not good if you want to exit.
It is difficult to know what the future the AAs have, even if the rate is increased, bonuses added etc IMO they have become far too complicated and have been shown to be too fragile in a crisis. The next difficult time will come when the government removes support, the tide goes out then we will see who has been swinging naked, however I suspect the government will not remove it all in one go but gradually reduce the support. In a way the AAs are in a catch 22 situation, unable to lend at a decent rate while there is government support and potentially high risk when there is no more government support but of course this is the same for all P2P.
Even if everything goes well and return to normal I would be very wary of any ACs accounts because at the next sign of trouble access will be restricted and during this period the rules could well change again, although against FCA rules it will take a long time to get this through the FOM. I do not want to be in any investment without clear rules that cannot be changed otherwise what is the point of having any rules in the first place.
On the plus side for AC they can say that so far no one has lost a penny in the AAs, all interest paid on time and everyone who wants their money back has had it returned.
Yes. Very satisfied so far. As long as this continues for the rest of the year I may well bung another wedge into the access accounts, while supporting the view that they require re-naming.
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ashtondav
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Post by ashtondav on Apr 25, 2021 8:53:19 GMT
Chill!
not sold or withdrawn in the last year and my recent 20/21 tax statement shows an expected 4%ish return. Remember if you are selling that eventually you will have a 100% default portfolio. The only way to achieve the c4% return is to keep the faith and reinvest interest.
the alternatives I’m in are Assetzcapital and loanpad. Both of which have consistently returned about 4% during this crisis and well above the Halifax rate!!!
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ashtondav
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Post by ashtondav on Apr 18, 2021 15:35:27 GMT
I wanted to transfer cash from an HL s&s ISA to a cash ISA to wait for a more favourable equity entry point. The transfer took HL so long the cash ISA deal was over and there was no point in transferring. HL ISA transfer process is jackshit. This was pre pandemic! God knows what it’s like now.
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