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Alliance Trust Savings to Interactive Investor

wickham
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Alliance Trust Savings to Interactive Investor

#254691

Postby wickham » September 29th, 2019, 8:29 am

Alliance Trust Savings is transferring my investment, ISA and pension accounts to Interactive Investments. I don't know if ii.co.uk is financially secure.

Please confirm that my shares, gilts and unit trusts will be held in a nominee account and secure if ii.co.uk goes into liquidation.

Will cash deposits also be held away from the hands of ii.co.uk?

During transfer of funds into or out of shares, presumably my cash will be at risk of seizure by ii.co.uk.

I don't know why ATS is doing this. If ATS can't make a profit then how will ii.co.uk make a profit as charges will be almost identical?

What is ii.co.uk's reputation? ATS has been very reliable and not especially money-grabbing. Is ii.co.uk a money-grabbing type of company?

Alaric
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Re: Alliance Trust Savings to Interactive Investor

#254696

Postby Alaric » September 29th, 2019, 9:04 am

wickham wrote:
Will cash deposits also be held away from the hands of ii.co.uk?


There are statements about how it works on the ii site. I don't think ii has a banking licence, so all cash is placed with a spread of banks which is the normal method. The FSCS compensation kicks in anyway, although you might want to check how it works if there was ever a likelihood of having cash with ii above the compensation limit.

Otherwise there are a number of people on this site with holdings at ii, either from when it was a separate operation or from when it was merged with TD Direct. It's among the major players in the platform sphere.

TedSwippet
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Re: Alliance Trust Savings to Interactive Investor

#254697

Postby TedSwippet » September 29th, 2019, 9:05 am

wickham wrote:Alliance Trust Savings is transferring my investment, ISA and pension accounts to Interactive Investments. ...

Currently being discussed in this thread:

Alliance Trust Savings taken over by Interactive Investor - The Lemon Fool

Dod101
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Re: Alliance Trust Savings to Interactive Investor

#254702

Postby Dod101 » September 29th, 2019, 9:38 am

One thing the OP should know is that it is not ATS that is doing the transferring to II. It is II that is moving the customer assets of ATS to its platform after it bought ATS at the end of June. Otherwise yes, reading the other thread and continuing the discussion there would be sensible.

Dod


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