Hargreaves Lansdown ISA transfer from Fidelity

SeanW

I am fed up with Fidelity now, so I am considering transferring to Hargreaves Lansdown.

I invest with Fidelity mainly in monthly savings, I recently started with some new funds, and have paid just £150 into each up to now (3months x £50). I already have some higher value funds in there.

Fidelity say they can only transfer as cash. What are my options for the above 3 funds, I'm assuming HL have a minimum of £1000 per fund, and would rather not consolidate the total value into the other funds.

I also notice HL have a min of £3000 to open the ISA, will they accept a transfer in for less?

Does anybody know if Fidelity charge, reading their terms, it appears not, other than a remark about taking what you owe them (Doesn't say what for).

david78

Sean,

I am a client of HL and they regularly send me fresh supplies of forms. These show that you can transfer funds as stock from Fidelity. There is no charge for this (or if there is HL cover it).

If you telephone HL and commit to continuing with your monthly savings by direct debit for the rest of the tax year and next (with them), I'm sure they will agree to moving your Fidelity ISA over to them. Then all you need do is apply using a form from the website.

The minimum of £1000 per fund only applies to lump sum purchases.

Your other option is to open an ISA with HL for 2007/2008 then once you have used it for a while transfer your Fidelity ISA accross.

RayWolfe

david78 wrote:

Sean,
The minimum of £1000 per fund only applies to lump sum purchases.

And I have often put smaller amounts than that, so I don't think it's an absolute figure ... maybe because I do it by post but I don't think so.

david78

Your right. The £1000 minimum is the restriction applied when you buy funds online.

You can purchase smaller amounts by post, and on the phone, and can switch smaller amounts online too.

mutley74

Wise choice if you transfer, as you get better discounts and keep a share of your trail commission!!!
HL allow stock transfer from fidelity. Should not be a problem if stock value if less than £1k too.

When I did this I had to pay a £25 fee that fidelity charged. Best to call HL and ask them for the latest info.

SeanW

Unfortunately Fidelity and HL have both confirmed that I will only be able to transfer as cash, but HL will let me share the amount between the funds as I wish, rather than say 2 funds worth £1000 each.