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Alliance Trust Savings taken over by Interactive Investor

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Julian
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Re: Alliance Trust Savings taken over by Interactive Investor

#256314

Postby Julian » October 7th, 2019, 11:42 am

Alaric wrote:
Julian wrote:
As an extra bit of info maybe of interest to some. I had been considering closing the taxable account so a couple of months ago I called ii and asked what would happen if I closed the taxable account, in particular was there some other way that I could pay my fees if I only had an ISA account with them because I didn't want money (the monthly fees) draining out of my tax wrapper if I could avoid it.


Alternatively remove all the stocks but leave the taxable account in place and set up a mechanism to finance it with amounts required to pay the fees.

Yes, that's another possibility. Essentially it would be how I fund my ATS account at the moment. I have a monthly standing order paying into my "Fees" sub-account at ATS. The empty ii trading account essentially becomes the equivalent of the old ATS "Fees" sub-account. That would definitely work for others but for me personally I try to close out empty accounts so I prefer to go the direct-debit route.

It's not going to be a problem for me for a while because with this ATS takeover rather than being closed that trading account is now about to get a whole lot bigger when all my ATS shares come across and I consolidate them into that account. It'll only be if/when I decide to transfer all of that out to another broker that I need to change the fee payment arrangements.

- Julian

Chrysalis
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Re: Alliance Trust Savings taken over by Interactive Investor

#256339

Postby Chrysalis » October 7th, 2019, 2:04 pm

I wonder how many of us are waiting with baited breath for the weekend, as Parky says ‘transfer forms at the ready’....

I’ve now completed all the annoying bureaucratic changes needed to hopefully be able to operate my accounts more or less as I have been used to. Now it just remains to be seen a) exactly how the charges will be taken across myself and spouse’s accounts and b) how much the charges will be. Not due any dividend payments for a little while so the rigamarole of extracting money to two different accounts will not be tested for a while.


Here’s hoping it goes relatively smoothly for all!

feder1
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Re: Alliance Trust Savings taken over by Interactive Investor

#256560

Postby feder1 » October 8th, 2019, 11:50 am

I have just received a nice letter of apology from Alliance for the email from ii telling me my bank details had been changed.

They should have said that data was being transferred from Alliance to ii, not that the bank details had been changed.

Dod101
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Re: Alliance Trust Savings taken over by Interactive Investor

#256781

Postby Dod101 » October 9th, 2019, 1:41 pm

We now have a further 2 1/2 days before the switchover from ATS to II is due to happen. I suppose it would be a good idea to keep a record of our holdings as at close of business on Friday as a check in case something goes wrong over the weekend. Anyone got any thoughts on this?

Dod

Chrysalis
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Re: Alliance Trust Savings taken over by Interactive Investor

#256823

Postby Chrysalis » October 9th, 2019, 7:04 pm

I’ve downloaded all contract notes relating to current holdings, and a full statement from the opening of the account to date.
Hopefully that should do the trick!
I suppose a valuation on Friday might not be a bad plan.

Dod101
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Re: Alliance Trust Savings taken over by Interactive Investor

#257303

Postby Dod101 » October 12th, 2019, 8:48 am

So farewell ATS. You have served me well over the last 25 years or so. Let's see what Interactive will do come Monday. Actually their website says they should be up and running again on Sunday afternoon.

Dod

Chrysalis
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Re: Alliance Trust Savings taken over by Interactive Investor

#257495

Postby Chrysalis » October 13th, 2019, 9:46 am

Yes they were my first broker, but only been with them 7 or so years.
Apparently the Dundee call centre will remain but is servicing advisers (iirc) rather than retail clients. At least they won’t be losing their jobs (immediately).

Dod101
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Re: Alliance Trust Savings taken over by Interactive Investor

#257501

Postby Dod101 » October 13th, 2019, 10:06 am

Chrysalis wrote:Yes they were my first broker, but only been with them 7 or so years.
Apparently the Dundee call centre will remain but is servicing advisers (iirc) rather than retail clients. At least they won’t be losing their jobs (immediately).


Where did you get that info? That's a shame and seems an expensive way to service advisers considering they own a large building in the centre of Dundee and all their staff will have had to be retrained (which I suppose they would anyway)

Dod

Chrysalis
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Re: Alliance Trust Savings taken over by Interactive Investor

#257577

Postby Chrysalis » October 13th, 2019, 5:43 pm

From one of the customer service staff. I wondered if they were going to be made redundant - not for now, she said, but they wouldn’t be dealing with the retail customers.

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Re: Alliance Trust Savings taken over by Interactive Investor

#257677

Postby knechtruprecht » October 14th, 2019, 9:19 am

Well, at least in my case, it looks like that 'data migration disaster' I was worried about hasn't happened. All securities transferred over fine, also cash balance, remaining ISA allowance. All good.
Had a quick look round the website functions, and there seem to be some nice features in there, too ... like the price history graphing, for example.

A couple of things I can't yet see, though I've only had a quick look ... a facility to enter 'book values' (i.e. purchase prices/values) was mentioned. Can't see that, nor, actually something that might use them: profit/loss, performance. Also, trivially, free digital access to Money Observer Magazine was mentioned.

Anyway ... so far so good?

Dod101
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Re: Alliance Trust Savings taken over by Interactive Investor

#257688

Postby Dod101 » October 14th, 2019, 9:59 am

My SIPP has transferred but not my much bigger ISA. I can still access it through the ATS site. I have sent an email asking them what they are doing.

Dod

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Re: Alliance Trust Savings taken over by Interactive Investor

#257692

Postby meldrewlives » October 14th, 2019, 10:21 am

Book values can be changed by clicking on the pencil icon alongside the value being displayed and amending the amount shown.

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Re: Alliance Trust Savings taken over by Interactive Investor

#257695

Postby MusingMarket » October 14th, 2019, 10:32 am

Hmm, bank account details and direct debit details (that I set up via ii's ats transfer page) are not showing.

At least all the stock and funds show the correct number held but the Book Cost of Lindsell Train Global Equity B Inc. - based on the transfer to ii date - is wrong (12.76% fall but the price change shows the correct 2.11% drop).

Dod101
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Re: Alliance Trust Savings taken over by Interactive Investor

#257714

Postby Dod101 » October 14th, 2019, 11:18 am

I cannot be bothered with what II calls 'book values'. It is I guess an attempt to be helpful but if I want I have my own records anyway. I seldom use them except of course in an unsheltered account when I might need them for CGT.

Dod

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Re: Alliance Trust Savings taken over by Interactive Investor

#257719

Postby mc2fool » October 14th, 2019, 11:25 am

Well, everything seems to have transferred over ok for me. However, I note that their info for folks that already have ii accounts has changed since I last looked.

"I've already got an account with interactive investor. Can I link everything up?

You will be able to link any sole named accounts now that your portfolio (money and investments) has moved from the ATS service to interactive investor. We will write to customers who have one or more accounts that could be linked later in October to help them get set up.
"
https://www.ii.co.uk/existing-ii-and-ats-accounts

Trying to link them up now gets, "It has not been possible to complete the requested function. If you would like assistance please call 0345 607 6001", so I guess we do indeed have to wait (hey, it was worth a try :D).

While it is at least possible to transfer cash between linked accounts, I can't see ending up with two dealing accounts is useful, for me at least. I'd prefer to just have all my ex-ATS holdings appear in my ii account alongside the existing holdings there. Maybe they'll be able to do that on request....

Hmmm....I suppose having two "sets" of holdings could be of use, but only if it's possible to transfer holdings between the two, and while there's a menu item for transferring cash I don't see anything for transferring holdings between accounts.

Dod101
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Re: Alliance Trust Savings taken over by Interactive Investor

#257731

Postby Dod101 » October 14th, 2019, 11:51 am

mc2fool wrote:Hmmm....I suppose having two "sets" of holdings could be of use, but only if it's possible to transfer holdings between the two, and while there's a menu item for transferring cash I don't see anything for transferring holdings between accounts.


II told me some time back that they will have to merge the existing II account and the ex ATS account manually once the transfer has been completed. I too tried to link the existing II account and my ex ATS account and got the same message.

I guess a call to them may help but my current concern is that my ATS ISA is still with ATS. ATS tells me that it will move but I made some changes recently and they need to be finalised first. They tell me I can still trade and so on as before and their site is still up and running, but will be for advisers only in the future.

Dod

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Re: Alliance Trust Savings taken over by Interactive Investor

#257739

Postby knechtruprecht » October 14th, 2019, 12:05 pm

meldrewlives wrote:Book values can be changed by clicking on the pencil icon alongside the value being displayed and amending the amount shown.

Thanks meldrewlives ... bloody obvious now I look. I hadn't noticed book values there this morning, before my first strong coffee ... :oops:

Julian
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Re: Alliance Trust Savings taken over by Interactive Investor

#257769

Postby Julian » October 14th, 2019, 1:41 pm

Everything came across OK for me and all credit to ii, when I called just now to check a few things I had maybe a 2 minute wait on the hold queue which, given the number of calls they must be getting on day 1 after the transfer, I thought was pretty good on their part to maintain that reasonable hold time.

Unfortunately for me I misread the previous briefing and for some reason thought that the old ATS ability to pay out all dividends received on the 12th of each month was also going to be available with ii but it isn't so that's my dilemma about whether to leave my holdings with ii over. I need that feature for the holdings that I had with ATS so I'm going to need to have my investments pack their suitcases again ready for another journey to yet another broker not yet 100% chosen but probably Halifax/iWeb.

- Julian

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Re: Alliance Trust Savings taken over by Interactive Investor

#257770

Postby MusingMarket » October 14th, 2019, 1:42 pm

Mobile Phone edge case: make sure the number is correct if you changed it recently on ATS. I only changed from my old phone number after going through the interactive investor migration web process. Presumably they did the migration on the back-end early for this information so my later change on ATS didn't get carried over. It took a phone call to change the number since ii use SMS to verify all these changes.

Despite the direct debit for account fee payments not showing up on ii's website (nor my bank's website) I got confirmation it was set up over the phone.

Still unclear about the bank account information. My bank account info doesn't show up for me online. I was told this had to be set up again over the phone. Trying to add my previous bank account online is unsuccessful since the details don't match up, despite using the same name & address.

It took about six minutes to get through to ii over the phone, not too bad.

Dod101 wrote:I cannot be bothered with what II calls 'book values'. It is I guess an attempt to be helpful but if I want I have my own records anyway. I seldom use them except of course in an unsheltered account when I might need them for CGT.

Dod

Agreed, I mention the "book value" for one fund simply because some calculation has gone wrong on their end with that one data point. Hopefully, and highly likely, that the migration of share holding details is separate.

Alaric
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Re: Alliance Trust Savings taken over by Interactive Investor

#257773

Postby Alaric » October 14th, 2019, 1:45 pm

Julian wrote: for some reason thought that the old ATS ability to pay out all dividends received on the 12th of each month was also going to be available with ii


You would have to login every month and use the "pay to nominated bank account" feature.


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