MEGATHREAD: Freetrade SIPP

I think she said they wanted to ring me because it was the first one they’d had to Freetrade, which kind of makes sense. Apparently there’s quite a lot of pension scams out there so they’re always on high alert.

1 Like

Any comment from FT on why some ETFs and IT’s are not possible to buy within a SIPP but are in GIA and ISA? What is the reasoning behind this? Thanks

2 Likes

HL have finally transferred my SIPP to Freetrade.

Waiting for the funds to appear on the app sometime soon… :pray:

10 Likes

Nice one weenie. At last hopefully a couple days. :wink:

2 Likes

Funds are in, so not even a day!

So from start to finish: 41 days
Initiated transfer with Freetrade - 15th Jan
SIPP funds received from HL - 25th Feb

6 Likes

Brilliant news :+1: happy investing

1 Like

41 days! Insane.

Congrats, finally. I think my transfer will be similar.

I’m excited for the future, one day these will take minutes, because that’s what the people want, right?

So much legacy technology and processes slowing us all down.

We can do better.

1 Like

Ok, we’re in!

SIPP Provider: Fidelity (38 days lead time)

  • 19th Jan: Initiated with Freetrade
  • 26th Feb: Money in Freetrade account :partying_face:
4 Likes

I’m not as mad as I was at the lead time because some of the things I wanted to buy are now on sale… :rofl:

1 Like

Same here, good to be buying just as there’s a little dip in the market!

1 Like

Or the start of a protracted fall :persevere: :grinning:

2 Likes

What a great day :laughing:

4 Likes

Congratulations on the transfer mostly completing. I noticed today in the HL Android App that the instruments flagged for transfer from my HL ISA to my Freetrade ISA now have a “footnote” number “13” indicating they are in the process of being transferred so cannot be sold. One month since original request lodged and something appears to be happening. Oh…anf HL will be taking another monthly payment soon…which would have been avoided had they completed this in, say, three weeks…just saying.

Indeed. I understand one of the large Global Real Estate companies is working on the basis that in a few years people will be buying and selling buildings in a similar fashion to how shares trade today. If they are contemplating a faster moving market for something as complicated as an entire office block/factory it shows the current timescale to transfer shares in poor light (considering the due diligence for “trading” a building.

Called L&G yesterday to find out the status of the transfer process initiated on 19 January.

Turns out they tried to transfer the funds on the 26 January but hit internal hurdles. Apparently Freetrade is new in their system and this may have caused some hurdles. I believe someone reported similar issues with other providers.

What strikes me is they didn’t contact me about the process. I’ve been waiting patiently because I understand these things take time, but I now realize I should have made that call one week after the beginning of the process, rather than patiently waiting till yesterday, because otherwise it could take forever to get sorted.

Anyway, I was given a of 1 to 2 weeks for the lady who received my call to come back to me. I have only good things to say about that lady taking my query, regardless of what I’m not happy about L&G handling of the process.

Fingers crossed

Wow
Got an email from L&G this morning saying the money went out to Freetrade today via BACS and it should be there within 3 to 5 days.

Brilliant.

I really should’ve called earlier.

1 Like

19 Jan initiated with Freetrade

4 March money arrives at Freetrade

From L&G

44 days from kick off to completion

Could have been less than 2 weeks if I called them earlier

Now all I want is an 80% market crash asap

7 Likes