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HSDL again

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PinkDalek
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Re: HSDL again

#157646

Postby PinkDalek » August 7th, 2018, 10:58 am

XFool wrote:Normally you would expect the Transaction record (HSDL CASH MOVEMENT Schedule) to list and describe share transactions, which indeed it does for my non ISA account - and which others say it does for their ISA - but not for my ISA account.

Time for feedback!


I don’t think anyone has said their quarterly statements (as against the old style six monthly October version mentioned) include the missing details.

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Re: HSDL again

#157669

Postby XFool » August 7th, 2018, 12:01 pm

PinkDalek wrote:
XFool wrote:Normally you would expect the Transaction record (HSDL CASH MOVEMENT Schedule) to list and describe share transactions, which indeed it does for my non ISA account - and which others say it does for their ISA - but not for my ISA account.

I don’t think anyone has said their quarterly statements (as against the old style six monthly October version mentioned) include the missing details.

Well there was this:
I had a look at one of my ISA statements. The Stocks and Shares ISA CASH MOVEMENTS SCHEDULE shows the purchase that I made. I do not know what more you want.

Which doesn't specify what period the statement covers. But why should they be different for different periods?

Anyway, I went back to my previous statement for the period ending 05/04/2018. For the ISA account it is exactly the same, for a purchase it just shows 'Payment issued'. For the non ISA account there were no share transactions in the period.

So I should have picked up on this and queried it previously. I have only had this HSDL ISA account since last December.

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Re: HSDL again

#157675

Postby PinkDalek » August 7th, 2018, 12:36 pm

You need to read on from there, where you'll see the subsequent clarification. Up to you though but Geoff was talking about October 2017 initially. The qtrly statements are far more recent.

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Re: HSDL again

#157679

Postby XFool » August 7th, 2018, 1:04 pm

PinkDalek wrote:You need to read on from there, where you'll see the subsequent clarification.

Up to you though but Geoff was talking about October 2017 initially. The qtrly statements are far more recent.

The April statement is as far as I can usefully go back for HSDL ISA statements. I had one in January, but that simply showed a load of transfers in!
I am used to the HSDL non ISA statement showing share transactions, as indeed it still does on my recent (quarterly) statement. Baffled why it doesn't show the same thing for the ISA.

Geoff agreed it used to be the same on his account (I assume an ISA) and it's since changed. I wonder if he has a NON ISA HSDL account and it has or has not changed on that? It hasn't changed on mine, I still get share transaction details.

So, if the same for all, it looks like a possible general problem with the ISA accounts?

Both my accounts are Henderson branded, if that matters.

Beginning to wonder if I should have left this ISA where it was...

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Re: HSDL again

#157692

Postby tjh290633 » August 7th, 2018, 1:44 pm

XFool wrote:
tjh290633 wrote:I've just checked and full details of trades made are available under "Dealing History".

Perhaps it would help if the 3-monthly statement included this information, as it includes a number of other items.

TJH

Yes. The HSDL online statements are different to the printed account statements in separately listing share transactions, dividends received etc. The printed account statements are more like a conventional Transaction record + Valuation statement.

Normally you would expect the Transaction record (HSDL CASH MOVEMENT Schedule) to list and describe share transactions, which indeed it does for my non ISA account - and which others say it does for their ISA - but not for my ISA account.

Time for feedback!


I only have an active ISA, the share account only showing the account fees, which are collected from my linked account.

For me the quarterly statements are superfluous.

TJH

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Re: HSDL again

#157704

Postby daveh » August 7th, 2018, 2:27 pm

XFool wrote:Very possibly. But how does that modify my point?


Only in the sense that it was commented that an annual statement would be much more sensible than qtrly statements (I think so too) and that I think we are lumbered with qtrly statements because the regulator says so. I agree the statement is pretty useless (I've just been and looked at mine) - it tells me about dividend payments linked to the company that paid them, but nothing on the shares bought or sold .

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Re: HSDL again

#157707

Postby XFool » August 7th, 2018, 2:34 pm

OK. I have provided "feedback".

Quite a long phone call, she said even she was confused! Anyway, issue eventually understood and it is being passed to the management of the "improvement team". No promises things will change anytime soon, but at least it is to be looked at.

Mentioned the issue with the £12.50 ISA charge (though might be to my disadvantage!), charge to non ISA account a mistake automatically corrected five days later, apparently actual ISA fee was taken from my bank account - will have to check that.

"Anything else?" - Well... there is the incomprehensibility of the reported Corporate Event, subject of my OP. But I thought I'd maybe save that for another day. ;)

At least they do seem to welcome feedback.

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Re: HSDL again

#158548

Postby XFool » August 10th, 2018, 2:21 pm

Just an aside.

Today I received a statement from Aberdeen Standard Investments. The accompanying letter makes the point that MiFID II requires a "quarterly valuation report". This is what they have sent, just an account valuation statement. A lot simpler than HSDL.

They state "The bi annual Statements issued in April and October each year will remain unchanged and will continue to report all transactions during the period.". Though, I wonder what the point of all this is as it's available on line anyway; more additional costs (leading to higher charges?).

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Re: HSDL again

#158553

Postby PinkDalek » August 10th, 2018, 2:28 pm

XFool wrote:… They state "The bi annual Statements issued in April and October each year will remain unchanged and will continue to report all transactions during the period.".


Thank you for that confirmation. Which I what I think I suggested would still happen earlier in the topic, at least in so far as the annual detailed dividend statements are concerned.

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Re: HSDL again

#158557

Postby XFool » August 10th, 2018, 2:37 pm

PinkDalek wrote:
XFool wrote:… They state "The bi annual Statements issued in April and October each year will remain unchanged and will continue to report all transactions during the period.".

Thank you for that confirmation. Which I what I think I suggested would still happen earlier in the topic, at least in so far as the annual detailed dividend statements are concerned.

Can we be sure that applies to HSDL? Their quarterly reports already include transactions, so will they duplicate them in the bi annual statements? Or just issue those as two more 'full' quarterly statements?

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Re: HSDL again

#158673

Postby PinkDalek » August 11th, 2018, 12:12 am

XFool wrote:Can we be sure that applies to HSDL? Their quarterly reports already include transactions, so will they duplicate them in the bi annual statements? Or just issue those as two more 'full' quarterly statements?


I missed that you were talking about Aberdeen Standard and misread your second para as if you’d heard back from HSDL. Oh well, I’ve no idea but I still feel we’ll get what we need post tax year end. At least what I need that is.

If not I’ll use my own summaries, as I always did when all my holdings were certified.

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Re: HSDL again

#158779

Postby XFool » August 11th, 2018, 3:52 pm

PinkDalek wrote:
XFool wrote:Can we be sure that applies to HSDL? Their quarterly reports already include transactions, so will they duplicate them in the bi annual statements? Or just issue those as two more 'full' quarterly statements?

I missed that you were talking about Aberdeen Standard and misread your second para as if you’d heard back from HSDL. Oh well, I’ve no idea but I still feel we’ll get what we need post tax year end. At least what I need that is.

If not I’ll use my own summaries, as I always did when all my holdings were certified.

PD, Looking at my post I see my wording did not really say what I meant. When I said:

Though, I wonder what the point of all this is as it's available on line anyway; more additional costs (leading to higher charges?).

I was not referring to the question of annual/bi-annual paper statements as such. Rather to the now extra complications of quarterly statements, whether paperwork or on-line, brought about by the MiFID II regulations. By "available on line" I meant, anyone who really wants to know their valuation NOW can always check on line, whether they want paper annual/bi-annual statements or not. It would be nice if we were given a choice in the matter of quarterly statements.

Also interesting to see that Aberdeen and HSDL have interpreted the new regulations in rather different ways. It remains to be seen if HSDL has actually changed fully to quarterly statements (I reckon they have) or will still reproduce their six months plus annual statements (plus annual tax statement in the relevant quarter). I cannot see that they will as it would duplicate what they have already produced quarterly. OTOH, Aberdeen, with their simple "Here's your quarterly valuation statement", can carry on as before with full six month and annual statements unaltered. Seems a cleaner, simpler solution to me.

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Re: HSDL again

#159666

Postby PinkDalek » August 14th, 2018, 8:29 pm

If of interest, this received today from Hargreaves Lansdown (my bold for the only thing I'm interested in) and I doubt I'll even bother to log in:

New regulation means that from now on we'll be sending your investment reports every quarter, instead of twice a year. You'll now get a valuation of your account as of 31 January, 30 April, 31 July and 31 October.

January and July's reports keep you up to date with a simple valuation and statement of transactions. Your April and October reports will give you a detailed analysis of your portfolio, including our views on the most popular funds and shares. Remember you can get an up to date valuation and portfolio analysis at any time in your online account.


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