Dumb question - Bestinvest

mpet

I already hold 2 S&S ISAs from previous years which were purchased directly from the fund holder! I can manage these accounts online & have the option to sell online if I want to.

Having read all the advice here about buying through the likes of H&L, Bestinvest etc, I took the plunge before the year end and made a purchase through Bestinvest.

I have just received the paperwork and logged on to my account and can see all the details. However, I can't see any details of how I can sell (not that I want to at the moment!). Is this not an online facility or am I being totally dim!

mike88

If you are with Best Invest your stocks were purchased through either CoFunds or FundsNetwork. You will therefore have an account with one of these platforms and there should be a link from the Best Invest website to your account with either CoFunds or Funds Network.

You must have some communication to say which dealing platform has been used for your purchases.

mpet

Yes - it was Cofunds - there is a link in my account on the Bestinvest site to 'Cofunds transactions' which shows my purchase, but there is no option to sell.

jimjames

It isn't easy to find - but there is an option. I'll dig out my paperwork so I can log in and find how I did it before.

One reason why I use HL in preference is that their site is far easier to navigate!

mpet

jimjames wrote: »

It isn't easy to find - but there is an option. I'll dig out my paperwork so I can log in and find how I did it before.

One reason why I use HL in preference is that their site is far easier to navigate!

Thanks - I thought it was me being extra thick:) I've clicked on all the links and can't see it. It was easy enough to make a purchase though!

mpet

Trying to still work this out I e-mailed Bestinvest and asked them if I can sell online - I got the following response

You are not able to sell online. What you would have to do is send a signed written instruction to the relevant fund manager. There is no charge for selling and unless otherwise specified the proceeds would be sent straight to your bank account.

Again - being really thick - if I held several funds for example in my ISA, would I have to write to each Fund Manager if I wanted to sell all of them?

talexuser

I buy and switch for my girlfriend through Best just by phoning up. However we haven't sold for cash yet so I would not be surprised if they sent a form for signature in that circumstance.

talexuser

mpet wrote: »

if I held several funds for example in my ISA, would I have to write to each Fund Manager if I wanted to sell all of them?

if they are all in CoFunds or FundsNetwork then a letter to them detailing which funds are involved should be all that is required.

mike88

Have you also got a CoFunds account number and set up a log in and PIN number? My wife has invested via Best Invest but through Funds Network. She had an account number with Funds Network and could invest, switch and I believe sell through that site. I would expect CoFunds to be the same. Have you looked at the CoFunds site independently of Best Invest?

mpet

mike88 wrote: »

Have you also got a CoFunds account number and set up a log in and PIN number? My wife has invested via Best Invest but through Funds Network. She had an account number with Funds Network and could invest, switch and I believe sell through that site. I would expect CoFunds to be the same. Have you looked at the CoFunds site independently of Best Invest?

When I go to the Cofunds website and try to set up an account, it brings up a message something like 'as you've purchased through an intermediary you need to deal through them'

mpet

talexuser wrote: »

if they are all in CoFunds or FundsNetwork then a letter to them detailing which funds are involved should be all that is required.

I am not worried about having to make a written request to sell, but I'm still a bit confused if I write to Bestinvest, Cofunds, or direct to the Fund Manager! As I said in my OP it's not as if I want to sell now, but I like to know how if I wanted to:)