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  • FIRST POST
    • MattInvestor
    • By MattInvestor 13th Jan 18, 4:56 PM
    • 2Posts
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    MattInvestor
    Moving ISA funds into trackers
    • #1
    • 13th Jan 18, 4:56 PM
    Moving ISA funds into trackers 13th Jan 18 at 4:56 PM
    I acquired my first shares in 1983 but have always held shares directly and never through a fund. One of the problems with this approach is that although I now have a portfolio, this will never be large enough to be balanced and my ability to choose a good share has been found wanting on more than one occasion! I do therefore appreciate the meaning of risk!
    It has been suggested that investing in tracker funds may have been a better approach and with the benefit of hindsight I would be a lot better off today had I adopted this approach. I only invest for the long term.
    I have not taken out an ISA this year but have funds available to do so. All my previous ISAs have been cash ISAs with a variety of institutions. Some I have added to each year and others have just had the single year’s investment. I would like growth and income in place of the well below inflation return I am currently getting.
    I have been looking at tracker funds and to give just one example that I think might be suitable is “iShares FTSE 250 UCITS ETF” which appears to have low charges. In due course I will wish to move my existing ISA funds into other trackers such as perhaps a NASDAQ-100 tracker. I had hoped to be able to buy from the fund provider directly however unless I have misunderstood the process it appears that I need to go through a broker, perhaps because this is an ETF (exchange traded fund). Maybe there are other options that are economical that I have missed?
    It has been years since I bought shares so I no longer have a stock broker. It appear that iWeb from The Halifax may be the most economical option. However I am struggling to understand the process as I will need to move my ISAs from various building society’s to iWeb to then reinvest in say an iShares tracker. Has anyone done anything similar that can advise on how well this approach does or does not work or what other approach I could adopt?
    I have seen a financial adviser however he wanted to charge 3% with £1,000 up front and for all of that did not even appear to be able to understand what I wanted! I will be very grateful for any advice.
Page 1
    • Linton
    • By Linton 13th Jan 18, 5:06 PM
    • 8,853 Posts
    • 8,883 Thanks
    Linton
    • #2
    • 13th Jan 18, 5:06 PM
    • #2
    • 13th Jan 18, 5:06 PM
    The process is...
    1) You open an S&S ISA with your chosen provider - iWeb. They will provide you with an online account.
    2) You ask iWeb to transfer-in your ISAs. There is probably a form on their website for this.
    3) When the money turns up you can use your online account to buy and later sell whatever investments you want.

    Before going ahead with iWeb you should check that they do support the investments you want to buy. Most providers support most investments but it's best to check first.
    • MattInvestor
    • By MattInvestor 13th Jan 18, 5:10 PM
    • 2 Posts
    • 0 Thanks
    MattInvestor
    • #3
    • 13th Jan 18, 5:10 PM
    • #3
    • 13th Jan 18, 5:10 PM
    Thank you for your reply. May I please ask, have you used iWeb? Did they prove to be a good and economical option as I am concerned to keep charges as low as I can but still received a quality service.

    The process is...
    1) You open an S&S ISA with your chosen provider - iWeb. They will provide you with an online account.
    2) You ask iWeb to transfer-in your ISAs. There is probably a form on their website for this.
    3) When the money turns up you can use your online account to buy and later sell whatever investments you want.

    Before going ahead with iWeb you should check that they do support the investments you want to buy. Most providers support most investments but it's best to check first.
    Originally posted by Linton
    • badger09
    • By badger09 13th Jan 18, 5:45 PM
    • 5,589 Posts
    • 5,033 Thanks
    badger09
    • #4
    • 13th Jan 18, 5:45 PM
    • #4
    • 13th Jan 18, 5:45 PM
    Thank you for your reply. May I please ask, have you used iWeb? Did they prove to be a good and economical option as I am concerned to keep charges as low as I can but still received a quality service.
    Originally posted by MattInvestor
    Many of us use IWEB

    Here is a recent thread which should give you a flavour

    http://forums.moneysavingexpert.com/showthread.php?t=5773736

    I have transferred cash ISAs into my IWEB S&S ISA. There is a form on their website which you need to print & post to them. The process takes about 2 weeks in total.
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