Partially upheld: transfer delays and alleged financial loss from delayed ISA transfer complaint against Vanguard Asset Management, Limited
Financial Ombudsman decision DRN-6294335 of 2026-05-29T00:00:00+00:00. transfer delays and alleged financial loss from delayed ISA transfer complaint against Vanguard Asset Management, Limited. Outcome: Partially upheld.
Decision detail
| Reference | DRN-6294335 |
|---|---|
| Decision date | 2026-05-29T00:00:00+00:00 |
| Firm | Vanguard Asset Management, Limited |
| Product | stocks and shares ISA |
| Claim type | transfer delays and alleged financial loss from delayed ISA transfer |
| Outcome | Partially upheld |
| Remedy | Vanguard Asset Management, Limited should make a payment of £125 to Mr C for distress and inconvenience caused by the delays, if it has not already done so (in addition to the £25 already paid). |
Summary
Mr C complained to Vanguard about delays in transferring his stocks and shares ISA from January to April 2025, claiming financial loss due to being unable to sell funds at the intended time. Vanguard offered £25 compensation and promised a financial loss assessment. The ombudsman found that while Vanguard caused delays in the final transfer stages after receiving acceptance on 12 March 2025, the initial delay from the new provider was beyond Vanguard's control. Using the TRIG framework, the transfer should have completed by 26 March 2025. However, the ombudsman concluded that Mr C would likely have continued waiting for better prices rather than selling on 26 March 2025, as evidenced by his actual sale on 13 June 2025, meaning no financial loss resulted from Vanguard's delays. The complaint was partially upheld with compensation of £125 ordered for distress and inconvenience.
The Ombudsman's reasoning
The ombudsman found that while Vanguard caused delays in the final stages of the transfer after receiving acceptance on 12 March 2025, the delay from the new provider was beyond Vanguard's control. Using the TRIG framework, the transfer should have completed by 26 March 2025. Although Mr C claimed he would have sold funds at a higher price in February 2025, the evidence showed he actually waited until 13 June 2025 to sell, suggesting he was waiting for better prices. The ombudsman concluded that even if the transfer had completed on 26 March 2025, Mr C would likely have continued waiting for prices to recover rather than selling immediately, so no financial loss resulted from Vanguard's delays.
How this compares
| Group | Decisions | Uphold rate |
|---|---|---|
| Vanguard Asset Management, Limited, all decisions | 2 | 25% |
Source
Read the original decision on the Financial Ombudsman Service website