I opened a SIPP, and have two portfolios - one with a money market fund (the only holding is Lyxor Smart Cash) and a DIY porfolio (with a range of ETFs).
I’m trying to sell some of my Lyxor Smart Cash holding to transfer to the DIY one. I don’t see to be able to.
I want to sell part of it (a couple of £k) but when I click Review Order, I can only sell around £1.30. I try to sell the entire holding (significantly larger) and at the Review Order stage is also only shows £1.30. I tried to sell the SIPP DIY ETF holding to see if I got the same issue and indeed, no matter what / how much I try to sell within SIPP, the Review Order page only shows £1.30.
I thought it might’ve been an App error, but indeed my sell order settled as only £1.30.
I raised this with IE support on Monday but they’re still investigating, so I’m wondering if anyone else is experiencing the same with their SIPP account? Or they’ve been able to fix it.
Yes, the purchase settled 3-4 weeks ago (when SIPPs went live).
Is everyone else able to sell SIPP holdings without any issues? I thought this might’ve been SIPP-specific, rather than only applying to one person, since SIPPs are new accounts types.
Interesting. After you said that, i checked my SIPP and looks like i can’t sell my ETF positions either. Same as you, the amount completely changes when i click “review order”.
Is this in your SIPP account? I thought it might’ve been just me as I hadn’t seen anyone else mentioning it here. But it must be a SIPP-specific issue for now. I’m sure it’s an easy fix
That’s strange - perhaps the problem is account based after all then. I had a bit of to-and-froing with support yesterday on this issue (Aelita & Paul - thanks for working on Sundays by the way!!) which might have expedited the fix for me. I think you should both chase your support tickets in that case
I might have spoke too soon. My sell order has disappeared and no transaction has happened. My holding value is the same as it was before I tried to sell it
Hello everyone and apologies for the issues with sales on SIPP accounts. Please be assured that our Development team is investigating this situation and we’ll get back to you once there is any update
Apologies for the delayed responses here. Its taken us a bit of time to replicate the issue on our side. Thankful we have now been able to and a fix will be release later this afternoon.
Just to give some details; the issue has come from an additional limit / control we added to SIPP accounts to ensure customers keep 0.15% cash buffer for SIPP fees. Part of this limit was incorrectly applied when you try and place a sell orders.
