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ISA options

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My wife and i both have CIS Platinum plus maxi ISAs into which we both pay £40 per month into.
The value of each fund as of our statement recieved today is appx £3150.
Ive been reading that the CIS isas are not performing very well.
Would we be better transfering it to a different isa provider , how would we do this and what would it cost to do this.
What isas provider should i be looking at to transfer into .

Thanks in advance

J

Comments

  • dunstonh
    dunstonh Posts: 119,612 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Combo Breaker
    Would we be better transfering it to a different isa provider

    Probably, as CIS are not really desirable funds and the options are limited. A fund supermarket makes more sense nowadays.
    how would we do this

    Pick your fund supermarket/IFA (discount or otherwise) and either fill in the transfer forms or they will (depending on the service/charge option you have chosen)
    what would it cost to do this.

    If discount IFA, then probably around 1-2% tops. Many non discount IFAs would do a transfer on nil initial commission terms as well. If you feel comfortable doing it yourself, it would still cost around 1-2%
    What isas provider should i be looking at to transfer into .


    Any of the fund supermarkets that meets the features that you want. There is another thread going on fund supermarkets. As for funds, well, that depends on your risk profile.
    I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.
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