MEGATHREAD: Freetrade SIPP

Does anyone get the free share offer if they do it before the 21st of February or is that only if you were a previous customer?

And any word on contributions from Ltd companies?

Hello I have received an email confirming I have reached the front of the waitlist and I am able to go ahead and open a Fairtrade SIPP now. Iā€™m a new Fairtrade customer and so have signed up for a GIA account on the iPhone app. Iā€™ve also funded the account with Ā£1 using Apple Pay. However, when I go to the ā€˜Profileā€™ section of the app, there is nowhere where I am able to open up a SIPP. I am using the same email address for my account as I used to sign up for the waitlist. I see from the comments a few other users have had the same issue. Have people been able to resolve it? @Freetrade, please could you look at my profile settings and add the SIPP opening option please as I want to get in for the free share offer before the 21st February deadline. I have also emailed customer support but have not yet had a response.

Anyone know if the free share for SIPP transfers for those that signed up to the offer is added to the GIA or the SIPP account (Iā€™m assuming it wouldnā€™t go into ISA)

I remember somewhere reading that it will be added to GIA Account

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Anyone knows whether Freetrade hires another organization to administers SIPP accounts?

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Cheers - that would make sense given the tax complications of adding it to the SIPP

I spoke to HL the other day who informed me they are processing pensions from December. Despite FT asking for a transfer in mid January HL donā€™t expect to even begin processing it until March.

I feel very annoyed. Thatā€™s Britains biggest financial broker for you.

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Sorry to hear that Ben. I suppose itā€™s possible HL is understaffed, but really that sounds like predatory delay, doesnā€™t it. Youā€™d guess theyā€™ll manage to sort their transfers in quicker than that.

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I had a similar experience with HL, submitted request in the month of Augā€™20 and was complete in Janā€™21. During this time, I was unable to sell any existing scripts as they had put lock on them. In addition, I had N Brown Group holdings where they issued a open offer, and was unable to participate in the offerā€¦felt very disappointed.

Thatā€™s very insightful for HL - I still have sipp there and will possibly consider a move across once more features are added to Freetrade and another share promotion :upside_down_face:. The fx cost of transferring is painful. Though after a certain size, the charge does drop to 0.5% or so.

For my current transfers, standard life got in touch requesting a transfer due diligence interviewā€¦ which is now next Tuesday. Two weeks after the transfer request was submitted/processed by standard life. They seem to only be able to do a full transfer, this delayed the transfer by a week; I had initially requested a partial transfer.

The partial Nutmeg transfer was sold down last Monday and withdrawal was performed on Wednesday, but still remains ā€œin transferā€. Nothing in Freetrade yet - hopefully it doesnā€™t suffer the same fate as the other customers who are currently awaiting their deposits.

I just got that message too - ridulous that it will take so long.

For those who may have been looking to know I got an answer about withholding tax. Currently freetrade donā€™t support the 0% tax so itā€™s taxed at 15% withholding tax. They did say theyā€™re looking at ways to implement the 0% tax

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I apologise for going slightly off topic, but on the subject of HL I notice that they have started doing TV Advertising over the last few days, maybe they are desperate for new customers.:thinking:

Itā€™s probably just part of their process, they usually do bursts of advertising

Interim update - zero communication from HL since I contacted them 11 days ago.

Both HL and Freetrade SIPP manager support Origo pension transfers which should be fairly automated and fully digital.

For example, using Origo I have had SIPP transfers from Aviva to Vanguard complete from start to finish in less than 7 working days.

Soā€¦ what is going on. Clearly something is amiss. Or did all of their staff profit of GameStop?

Standard Life to Freetrade - initiated 15th January, completed 18th February.

Included having to complete and post a standard life transfer form to Freetrade, and a call from Standard Life to make sure I wasnā€™t being scammed (apparently Iā€™m transfer #1 from SL to FT)

Total transfer time - 34 days.

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Number 1 of many to come :wink:

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Interesting. When I initiated my transfer from SL to vanguard a while ago it was super easy barely an inconvenience. No calls no paperwork. The money did disappear without any notice for a number of days though before reappearing in vanguard.