Is it Time to Move Investments Out of IE?

General
1

Hi everyone,

I’m considering whether it’s time to move my investments out of InvestEngine. I’ve become increasingly concerned about a few things:

  • Lack of Platform Innovation
  • Sluggish Trade Execution
  • Limited Features vs Alternatives
  • Company Financial Stability

I’m not rushing to leave, but want a platform that’s innovating, financially stable, and offers modern features. Thoughts?

(Note: This post is also intended as customer feedback for IE — not meant to be purely negative, but hoping to start a constructive discussion.)

5 Likes
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I’d add poor customer service to that list.

I’m transferring my pension out to Trading212. IE haven’t responded to T212s initial request for the transfer for 3 weeks.

I’ve chased IE directly, and haven’t had any response for 4 days, despite the website saying “We aim to respond as quickly as possible, usually within a few hours.”

Reading this forum it appears service response times are poor. Feels like a lack of investment in the people needed to deal with customers.

3

Instead of leaving you could allocate new money to a different platform.
I’d never be reliant on 1 platform anyway.

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4

been with IE for 3.5 years now and overall i have been happy.

personally (or luckily) i have never had any issues with customer service and cash isa’s have transfered in a good time.

recently i have read countless customer service enquiries and i find it astounding that folk are locked out/cant trade/long settlement issues which are really making me think twice about IE, hope its just a lack of staff and new cash added in this new financial year!

SIPP, appears to be a nightmare at drawdawn and having recently retired i have stopped adding to my pot, unsure what to do next, letting it ride for now.

i like the platform, website and interface with plenty of funds which suits my long term hold on here and periodically rebalanceing is pretty easy and clear to do.

has the ‘in specie’ issue been sorted? i got bored of reading about customer questions and false promises in 2024.

i also use T212 and lightyear and looked at robinhood and freetrade but didnt like them.

IE isnt perfect and when the few issues are sorted i think it will be one of the best overall.

just my opinion.

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Could you cite examples to reinforce the points you are raising? I’ve already raised my concerns with management regarding general performance. However, this is fortunately a growing UK business,

6

It’s certainly making me worry reading everything happening lately while I have a large sum with IE. Seems they desperately need to hire more customer service agents for starters.

I am also sure it doesn’t do the company any good having “Is it time to move investments out of IE?” pop up in customers e-mails like it did mine this morning. I’d be pretty quick to be in here posting something reassuring (Not copy and paste or generic) if I was them.

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I really like the platform, how easy it is to invest in the proportions I want to and rebalance easily. But I’ve been feeling increasingly uneasy about IE and have started an ISA with Freetrade for new money.

The uneasiness comes from lots of worrying posts on here about poor or non existent customer service. Over a year ago IE withdrew their managed plans shortly after launching them. They kept saying they were working on them, but they still haven’t reappeared. It seems odd to withdraw a very new offering and then keep repeating bland statements that mean nothing. And this will be a big loss of income too.

Less worrying, but maybe an indication of the level of potential chaos or lack of direction is that Andy Prosser was doing weekly market updates on YouTube for a few weeks, then they suddenly stopped.

Overall I have a bad feeling and am too concerned to add more money.