I-Web Staff - Incompetent and/or Careless

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JuliusRobertson's review of IWEB Share Dealing www.iweb-sharedealing.co.uk

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“I-Web Staff - Incompetent and/or Careless ”

Written on: 02/11/2017 by JuliusRobertson (1 review written)

I can only report on the aspect of transferring all my and my wife's investment funds from the Fidelity platform to I-Web - simply to avoid having having to pay the 0.2% annual charge for holding my investments with Fidelity, which is nearly £500 pa in my case (I rarely trade once I buy into a fund).
I started the transfer requests for us on the 22nd August 2017, and as of the 2/11/2017 the process has not completed, with over 25% of our funds still sitting with Fidelity.
The whole process has revealed the backroom staff at I-Web to be either careless or incompetent. They mislay, lose or ignore correspondence, they pass on conflicting advice and information, they send out letters with no information as to what issue it is relating to, they send out letters that when pressed admit should never have been sent out, members of the transfer team contradict each other, when pressed they suddenly locate correspondence which they claim they never received, they have to be chased continually to complete the simplest of tasks etc, etc, etc.
During this shambles we have raised two complaints which they have closed following paying out small financial compensations. So hopefully after over TEN WEEKS and 75% of our funds migrated, we are approaching the the end of moving our investments to the I-Web platform. But I am beginning to wonder if the likely savings will have been worth all the hassle we have been involved in dealing with the shambolic I-Webs backroom staff and processes.
Be Warned!

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