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The City Partnership

Sophisticated and complex high-risk tax-sensitive investments in small companies: handle with care
scotia
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The City Partnership

#461142

Postby scotia » November 26th, 2021, 12:39 pm

It looks like a lot of VCTs are changing their registrars to the City Partnership.
And it looks like to create an online account you will need a separate login for each VCT stable - e.g. maven-cp.cityhub.uk.com, amati-aim-vct.cityhub.uk.com, unicorn-aim.cityhub.uk.com, chrysalis-vct.cityhub.uk.com etc.
So that's the first nuisance. I tried to setup one online account (Unicorn VCT) - and discovered that it requires password changes every 90 days, and it won't accept previously used passwords. And I could apparently only see the total number of shares, however by a tortuous route I managed to get an on-screen list of the last 3 dividends. Will this be the same for all of the other VCTs, or does each VCT have a different set of screen displays?
Has anyone out there had a better experience?
My first thoughts are to simply ignore creating online accounts - however the dividend paperwork displays a CIN code and an Investor Access Token code - which can be used to setup an online account - so I would be happier if I had setup such an account (with a password) to avoid any other party setting one up with my CIN and Investor Access Token codes.

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Re: The City Partnership

#461147

Postby Boots » November 26th, 2021, 1:01 pm

I can only agree that the user interface is awful - I had actually missed the 90 day password change part.

Quite why these registrars can't seem to figure out that one person, at one address, might own multiple shares defeats me - it's almost like they haven't looked at their own data. Or perhaps the problem is the vanity of the VCT company saying that we must have our own unique URL and from that stems all sorts of unintended consequences.

Make holding via a nominee start to look quite attractive.

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Re: The City Partnership

#461160

Postby cprof » November 26th, 2021, 1:33 pm

I agree user interface is pretty awful and it is a struggle to work out how to navigate and change things. I too missed the 90 day password change. My only other experience is with Signal, which although you have to set up username and password for each holding, there is a single log in page and navigation is much easier. I wonder what the attraction to City Partnership was, if it was a material cost issue then I suppose that is OK, but may be worth asking a question at an AGM or investors meeting for a relevant VCT. I will try to remember to do this.
My main motivation for using a hub is the ability to switch on and off DRIS as we get to the end of a tax year to finely balance tax liability and VCT investment ( its easier than sending a letter)

scotia
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Re: The City Partnership

#461168

Postby scotia » November 26th, 2021, 1:46 pm

cprof wrote:I agree user interface is pretty awful and it is a struggle to work out how to navigate and change things. I too missed the 90 day password change. My only other experience is with Signal, which although you have to set up username and password for each holding, there is a single log in page and navigation is much easier. I wonder what the attraction to City Partnership was, if it was a material cost issue then I suppose that is OK, but may be worth asking a question at an AGM or investors meeting for a relevant VCT. I will try to remember to do this.
My main motivation for using a hub is the ability to switch on and off DRIS as we get to the end of a tax year to finely balance tax liability and VCT investment ( its easier than sending a letter)

I suspect the attraction by a number of VCTs changing their registrar to the City partnership is cost - but I wonder why their costing is so attractive.
The City Partnership is registered in Edinburgh - but the contact address on my dividend documents is Huddersfield.

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Re: The City Partnership

#461404

Postby sinterklaas » November 27th, 2021, 1:10 pm

The truth is, they’re all awful. No? Name me a good one?

(I mean for user friendly digital experience. Not just the mere basics)

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Re: The City Partnership

#461521

Postby Karellan » November 28th, 2021, 8:46 am

I sort of quite like CityPartnership remembering them from early Ventus days sorting problems very quickly indeed. I cannot be surprised that they are attracting / want a bigger slice of that market. I have found them helpful with other registrations. Pembroke , Maven and Downing seem to have moved. I thought the interface OK (but didnt know about this 90 day thing). Truthfully most of these ways of managing things are the product of a committee and they are all a bit of a camel. I have dozens and dozens of different online accounts and they are all different and thankfully I dont have to used them every day so the pain is low. I recall that Capita (Signal) didnt get many votes on here and I feel that this is a cleaner platform than theirs. Its life as they probably have an agenda that has themselves in mind in part so whats new ?

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Re: The City Partnership

#461603

Postby scotia » November 28th, 2021, 1:25 pm

Karellan wrote:I sort of quite like CityPartnership remembering them from early Ventus days sorting problems very quickly indeed. I cannot be surprised that they are attracting / want a bigger slice of that market. I have found them helpful with other registrations. Pembroke , Maven and Downing seem to have moved. I thought the interface OK (but didnt know about this 90 day thing). Truthfully most of these ways of managing things are the product of a committee and they are all a bit of a camel. I have dozens and dozens of different online accounts and they are all different and thankfully I dont have to used them every day so the pain is low. I recall that Capita (Signal) didnt get many votes on here and I feel that this is a cleaner platform than theirs. Its life as they probably have an agenda that has themselves in mind in part so whats new ?

Also now under the City Partnership roof are Unicorn, Amati, Draper Esprit (Elderstreet) and Chrysalis (in liquidation).
Looking at my paperwork, it appears that most of the transfers are from Signal/Capita (part of Link Group). Amati were formerly with http://www.shareregistrars.uk.com.
Yes - I was one of the complainers about Signal/Capita which required a separate login for each VCT. But at least the first link was to a single site where you selected a VCT and entered your password details (which I kept identical for each VCT). And I can't recollect having much trouble extracting information. But now I need to remember a separate site name for each VCT (family), and they are not all of the same form in the first field of the URL - e.g. maven-cp, chrysalis-vct, amati-aim-vct. Then I fell foul of the 90 day password, when accessing Unicorn VCT to get a dividend record - maybe it is only activated if you have not used the site for 90 days - I don't know. And I couldn't find a dividend record - apart from a screen shot of the last 3 dividends.

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Re: The City Partnership

#461704

Postby Kidman » November 28th, 2021, 9:43 pm

Maybe this is all a plot to drive us back to enerything in paper so they can avoid the costs of offering online access?

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Re: The City Partnership

#461727

Postby UncleEbenezer » November 28th, 2021, 11:15 pm

Kidman wrote:Maybe this is all a plot to drive us back to enerything in paper so they can avoid the costs of offering online access?

Cost of paper is surely significantly higher than cost of online?

Crapita were my main bugbear. Computershare and Equiniti may have their foibles, but at least work with a single login each. Then I moved everything to a nominee account to make life a little easier - a subject we've encountered in other threads here.

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Re: The City Partnership

#461777

Postby scotia » November 29th, 2021, 10:58 am

UncleEbenezer wrote: Then I moved everything to a nominee account to make life a little easier

I started doing this with 5-year expired VCTs into Hargreaves Lansdown, then Covid arrived and HL stopped accepting paper certificates. They say that they hope to re-instate such services, but no joy so far. One factor in my reluctance to transfer all certificates was that, due to DRIS schemes I have certificates for single VCTs with different purchase dates - so I know when, and how many 5-year expired shares I can sell. I suppose I could keep copies - just in case there was any enquiry from HMRC. But yes - a single nominee account with HL is looking like an easier option than the City Partnership, especially since I have now halted all DRIS purchases, and indeed all VCT purchases, as part of the process of simplifying our financial affairs. Like entropy, the old part of age keeps increasing. :cry:

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Re: The City Partnership

#461840

Postby Bgsbgs » November 29th, 2021, 1:57 pm

scotia wrote:
UncleEbenezer wrote: Then I moved everything to a nominee account to make life a little easier

I started doing this with 5-year expired VCTs into Hargreaves Lansdown, then Covid arrived and HL stopped accepting paper certificates. They say that they hope to re-instate such services, but no joy so far. One factor in my reluctance to transfer all certificates was that, due to DRIS schemes I have certificates for single VCTs with different purchase dates - so I know when, and how many 5-year expired shares I can sell. I suppose I could keep copies - just in case there was any enquiry from HMRC. But yes - a single nominee account with HL is looking like an easier option than the City Partnership, especially since I have now halted all DRIS purchases, and indeed all VCT purchases, as part of the process of simplifying our financial affairs. Like entropy, the old part of age keeps increasing. :cry:


HL told me they have restarted accepting them (have they told you otherwise recently?), and my partner lodged some shares with them last week. I am going to try to lodge some VCT shares tomorrow…

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Re: The City Partnership

#461862

Postby scotia » November 29th, 2021, 3:56 pm

Bgsbgs wrote:
scotia wrote:
UncleEbenezer wrote: Then I moved everything to a nominee account to make life a little easier

I started doing this with 5-year expired VCTs into Hargreaves Lansdown, then Covid arrived and HL stopped accepting paper certificates. They say that they hope to re-instate such services, but no joy so far. One factor in my reluctance to transfer all certificates was that, due to DRIS schemes I have certificates for single VCTs with different purchase dates - so I know when, and how many 5-year expired shares I can sell. I suppose I could keep copies - just in case there was any enquiry from HMRC. But yes - a single nominee account with HL is looking like an easier option than the City Partnership, especially since I have now halted all DRIS purchases, and indeed all VCT purchases, as part of the process of simplifying our financial affairs. Like entropy, the old part of age keeps increasing. :cry:


HL told me they have restarted accepting them (have they told you otherwise recently?), and my partner lodged some shares with them last week. I am going to try to lodge some VCT shares tomorrow…

Thanks for the info - I can't remember receiving any note from HL on this. It was only a couple of weeks ago that I read all the info on their site - and it indicated that the no-certificates policy was still in place - although they intended removing it when Covid circumstances improved.
I would be delighted to hear how you get on.

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Re: The City Partnership

#462179

Postby UncleEbenezer » November 30th, 2021, 9:40 pm

Bgsbgs wrote:HL told me they have restarted accepting them (have they told you otherwise recently?), and my partner lodged some shares with them last week. I am going to try to lodge some VCT shares tomorrow…


Did you get around to it? If so, were you successful?

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Re: The City Partnership

#462197

Postby Bgsbgs » November 30th, 2021, 10:53 pm

UncleEbenezer wrote:
Bgsbgs wrote:HL told me they have restarted accepting them (have they told you otherwise recently?), and my partner lodged some shares with them last week. I am going to try to lodge some VCT shares tomorrow…


Did you get around to it? If so, were you successful?


I mailed the docs today, should take a few days.

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Re: The City Partnership

#462642

Postby cprof » December 2nd, 2021, 2:25 pm

As far as my needs are concerned, Equiniti Shareview is the worst. I cannot change my DRIS election for Hargreave Hale nor Northern family on line.

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Re: The City Partnership

#462836

Postby Kidman » December 3rd, 2021, 10:50 am

scotia wrote:Thanks for the info - I can't remember receiving any note from HL on this. It was only a couple of weeks ago that I read all the info on their site - and it indicated that the no-certificates policy was still in place - although they intended removing it when Covid circumstances improved.
I would be delighted to hear how you get on.

I am also interested in this apparent change of HL policy.
I have been complaining to them about their withdrawl of services since mid 2020 and my FOS complaint reached them a week or two ago.
Last time I checked they had taken all references to the "suspended" services out of their terms and conditions so my assumption was that they were gone for ever.

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Re: The City Partnership

#465532

Postby Bgsbgs » December 13th, 2021, 3:20 pm

Bgsbgs wrote:
UncleEbenezer wrote:
Bgsbgs wrote:HL told me they have restarted accepting them (have they told you otherwise recently?), and my partner lodged some shares with them last week. I am going to try to lodge some VCT shares tomorrow…


Did you get around to it? If so, were you successful?


I mailed the docs today, should take a few days.


The shares are showing in my HL account now (although still awaiting settlement).

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Re: The City Partnership

#479858

Postby scotia » February 10th, 2022, 4:58 pm

Another grouse about the City Partnership. Today (10/02/22), Unicorn AIM VCT issued Final (3.5p) and Special (7.0p) dividends. And to get a Dividend
printout or file, The City Partnership (the Registrar of Unicorn AIM VCT) sent an email with the following instructions.

Your confirmations of the 3.5p per share final dividend and the 7.0p per share special dividend, both paid on 10 February 2022 by Unicorn AIM VCT plc, are now available to view and download in the Unicorn AIM VCT Investor Hub.
Please go to https://unicorn-aim.cityhub.uk.com/ and login to your account to view your shareholding and dividend confirmation.
To view your dividend confirmation, please login to your Investor Hub account, click on ‘My Shares’ and then click your name towards the bottom of the page. You then need to scroll down and click on your shareholding ‘Ordinary Shares of 1p’. You will then see your shareholding details, which includes a ‘Payments’ section at the bottom. Click on the ‘Payments’ tab and you will see your dividend payment details on the screen. If you click on the highlighted payment reference on the relevant payment line (it will be a number, like ‘16’), you will be shown your full dividend details. You may also download the related tax voucher by clicking on the download ‘Tax Voucher’ tab in the top right of the screen.


At my age I can't remember that long string of commands - so I took a printout of the email, and followed all of the of instructions down to the dividend payment details. I selected the last dividend on the list, which displayed the relevant details, and finally clicked the "Tax Voucher" to obtain a pdf file. This only gave the details for the special dividend, so I had to get back two screens to select the preceding dividend - which turned out to be the final dividend. I couldn't find a "Back" button to accomplish this, so I rather crudely just used the Browser back arrow. Then I selected the second last dividend, and went back down to 'Tax Voucher' to get a pdf file of the final dividend. Again I could find no Back or Exit buttons, so I finally exited by repetitively using the Browser back arrow.

For those of you who are willing to follow these instructions, but who have not yet obtained a Unicorn account on The City Partnership Hub, the original email also provided the following advice:-

If you have not yet created an Investor Hub account, you will need to go to https://unicorn-aim.cityhub.uk.com/ and create an account by selecting the ‘Register’ tab and then entering your details. Once you have entered your details and registered, you will need to enter your Investor Access Token. You will then have access to a range of information concerning your shareholding, including your dividend information, as soon as your access request has been authorised by The City Partnership (UK) Limited (“City”). Your investor access token should be included on previous correspondence sent by City; if you can’t locate your investor access token, please email City at registrars@city.uk.com


The email terminates with
Kind regards,

I fear I can't reciprocate

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Re: The City Partnership

#479884

Postby cprof » February 10th, 2022, 6:14 pm

scotia wrote:Another grouse about the City Partnership. Today (10/02/22), Unicorn AIM VCT issued Final (3.5p) and Special (7.0p) dividends. And to get a Dividend
printout or file, The City Partnership (the Registrar of Unicorn AIM VCT) sent an email with the following instructions.


That does not sound a good experience. Thankfully I am subscribed to DRIS so I expect to get all the documents through the post.

If it were not for the "ease" of changing DRIS instructions ( easier that is than posting the forms) I would be tempted to opt out of the CIty partnerships portal. I wonder how easy it is, or even possible, to do!!

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Re: The City Partnership

#480530

Postby 127tolmers » February 14th, 2022, 1:57 pm

If you have not yet created an Investor Hub account, you will need to go to https://unicorn-aim.cityhub.uk.com/ and create an account by selecting the ‘Register’ tab and then entering your details. Once you have entered your details and registered, you will need to enter your Investor Access Token. You will then have access to a range of information concerning your shareholding, including your dividend information, as soon as your access request has been authorised by The City Partnership (UK) Limited (“City”). Your investor access token should be included on previous correspondence sent by City; if you can’t locate your investor access token, please email City at registrars@city.uk.com

The Investor Hub, on the face of it, appears to be a secure system run by CP, with an Investor Access control Token provided by CP. As CP are the registrars it is also a platform for voting.

However as we found out during the Edge VCT campaign, there was a major weakness.

The Edge manager, EIL, not only had real time access to shareholder voting, but used the database unsolicited to email dissident voters to attempt to get them to change their minds. Not only that, but the unencrypted emails sent by EIL had the Investor number and investor access token in plain text. Not only was this a violation of Data Protection rules but it opened up the voting to potential fraud as private data access was available to the manager.

Beware!


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