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Moving several S&S ISA's
bosa
Posts: 12 Forumite
Hello, I`m just about to transfer four S&S ISA's to the Hargreaves Lansdown group to take advantage of their rebate on annual charges and access to a wider spread of funds.
Three of the ISA's were purchased through an IFA and the fourth by myself through a discount broker.
The transfers will be made as cash and reinvested once they are in the h-l Vantage S&S ISA.
Will the act of transfering the ISA's to the new platform mean that my original IFA will no longer receive an annual % commission on the three funds purchased through him ?
Do Hargreaves Lansdown become, in effect, my new (no advice) IFA and rebate some of the annual charge from their trail commission on the funds ?
Three of the ISA's were purchased through an IFA and the fourth by myself through a discount broker.
The transfers will be made as cash and reinvested once they are in the h-l Vantage S&S ISA.
Will the act of transfering the ISA's to the new platform mean that my original IFA will no longer receive an annual % commission on the three funds purchased through him ?
Do Hargreaves Lansdown become, in effect, my new (no advice) IFA and rebate some of the annual charge from their trail commission on the funds ?
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Comments
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You've got it pretty much spot on.Hello, I`m just about to transfer four S&S ISA's to the Hargreaves Lansdown group to take advantage of their rebate on annual charges and access to a wider spread of funds.
Three of the ISA's were purchased through an IFA and the fourth by myself through a discount broker.
The transfers will be made as cash and reinvested once they are in the h-l Vantage S&S ISA.
Will the act of transfering the ISA's to the new platform mean that my original IFA will no longer receive an annual % commission on the three funds purchased through him ?
Do Hargreaves Lansdown become, in effect, my new (no advice) IFA and rebate some of the annual charge from their trail commission on the funds ?I am a Chartered Financial Planner
Anything I say on the forum is for discussion purposes only and should not be construed as personal financial advice. It is vitally important to do your own research before acting on information gathered from any users on this forum.0 -
Thanks Aegis. Good to get things clarified before I go ahead with the transfer.0
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Please could someone correct me if I am wrong. For tidiness and convenience I should like to bring my scattered ISA investments under the one roof, but I suspect that there is not a place which is suitable for all of them.
It seems to be a good idea to transfer Stocks and Shares ISAs to Hargreaves Lansdown when invested in funds (on account of the rebate of some of their trail commission). I have lost track of how many S&S ISA I have, but they have been bought through various companies over the years including Jupiter, Fidelity and Bestinvest.
I am not sure if it is anything to be gained by transferring to Hargreaves Lansdown ISA invested directly in the shares of companies. I suppose the issues to consider there are just management charges and dealing costs (though I would not plan to be an active trader). Possibly some of the other companies I read about here (Share Centre, TD Waterhouse and iii) may be a better place to bring them together from their present homes at the Share Centre, Barclays, Halifax and possibly elsewhere.
For cash ISA, I would think it best to keep well away from the Hargreaves Lansdown version with its rate well short of those in the best buy tables.0
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