Transferring an old S&S PEP-now-ISA

TobyB_2

I have had an investment with Invesco Perpetual for more than a decade now - it was a PEP, but is now an ISA. It is worth around £10k at the moment (was £13k a couple of years back, did go down to £9k). I haven't contributed to it for many years.

I currently have used my full cash ISA limit in the last 3 years, and have a monthly arrangement with Fidelity to use my S&S ISA allowance, investing in a bundle of funds with them. I also invest some non-ISA money with H-L, so I have one of their Vantage accounts.

I have been looking at their "transfer to H-L" suggestion. I didn't do this initially as I wanted to see if they had a good service. I have been happy with them. Their "loyalty bonus" calculator suggests that if I transferred my Invesco-Perpetual ISA to them it would save me about £400 over 5 years.

Would there be any other advantages, other then being able to look at more of my investments all-together on a single log-in? Would there be any disadvantages - costs, options lost, flexibility, cheap transfers etc? Would it be safer keeping two investments of £10-15k in seperate institutions? Has anyone transerred similar ISA's ... and if so, any problems, regrets, delights, etc?

Should I leave well alone, or is transferring a good idea?

dunstonh

Their "loyalty bonus" calculator suggests that if I transferred my Invesco-Perpetual ISA to them it would save me about £400 over 5 years.

I think their calculator is over egging the benefit. You will save around 0.25% p.a. by moving it to HL. So, £10k at 0.25% p.a. over 5 years is about £125 without compounding. I cant see how they get £400.

Would there be any disadvantages

No. Most IFAs use fund supermarkets now. You dont really need to go direct to fund house any more. Its usually cheaper to use a fund supermarket as well.

Would it be safer keeping two investments of £10-15k in seperate institutions?

No.

Lokolo

dunstonh, theres the loyalty bonus thing. Not sure how it works.

What is the loyalty bonus?

The loyalty bonus, unique to the HL Vantage service, is all your annual savings on funds held in your ISA and Fund Accounts. Please note, loyalty bonuses are not paid in Portfolio Management Service accounts or the Vantage SIPP.
The loyalty bonus varies from fund to fund but on a typical fund portfolio of £25,000 it can add up to over £100 over 5 years, more if your investments grow in value.

I currently have 94p