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I have a SIPP and Trading account with TD Direct Investing since 2010. Their service has gone from okay to poor. IF you are thinking of opening a SIPP with them, stay away! Let me tell you about my experiences:
1) My employer wants to make a single contribution. I send in a form to "authorize" it. TD does not allow my employer to pay in, or amend any standing orders or direct debits, without prior "approval" by me. Fine. I send in the single contribution form. They tell me it's out of date (??!!), even though I had only downloaded it two weeks ago, then had to get my employer to approve it. I have to resend form, wasting a month in process.
2) Setting up direct debits. My employer had to send this in three times as each time the form was filled out "wrong"! Wrong = some minor error, like forms out of date or did not submit direct debit approval form together with the regular contribution form. This is despite having a direct debit and regular contribution already set up, and all they need to do is change the amount. So, when employers change their pension contributions each year, they have to send in a bucketload of forms and make sure the direct debits all go through! My employer changed my pension contribution in January, and it's end of March and the amount still hasn't been changed!
3) Payments go missing in their system. Far by the most frustrating one. My employer sends in a payment (after submitting all the right forms and checking up that TD has received the forms - you can only send in a payment after TD receives the forms!). Payment is missing. You have to call, and call, and call to get this problem fixed.
In summary, don't go for TD direct investing!!
In summary, I would not recommend TD Direct Investing to a friend.
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