Transferring S&S ISA? Charges /other issues

C_Mababejive

Hello,,,

If i hold a S&S ISA and wish to transfer it, obviously the receiving institution would not charge but would the plan manager from whom I'm exiting,be likely to levy any charges? Wouldnt he have to transact shares to realise my holdings so that they could be transferred??

Also..if you wanted to "hide" assets....would a shares or S&S nominee account be a good place and would the funds be traceable given that they are not held in your name? Presumably you wouldnt appear on the shares register?

Ta

debbie42

It depends on the provider. Selftrade charge £10 per holding, if you transfer them as shares with, I think a maximum of £100 per portfolio. As for hiding assets: who are you trying to hide them from?

C_Mababejive

The hiding is theoretical...it could be a wife or husband who wishes to keep a secret stash..more particularly,a husband who would be trying to avoid a fleecing on divorce for example.

There could be a few scenarios where one might not want traceable assets.

C_Mababejive

Does anyone know the FSCS arrangements for nominee share dealing/ S&S ISA accounts?

Surely the stock is actual owned tangible assets...albeit held by the company,so if the company suffered financial issues,the stock would still be there?

I note that TDWaterhouse appear to be EEA registered...is that a lower level of security/compo??