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Skandia multifunds in-specie transfer out
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gadgetmind
Posts: 11,130 Forumite
My wife has ISAs on both Skandia Multifunds and Hargreaves Lansdown. I'm relatively happy with the latter, but the former is still generating trail for our ex-IFA, and I'm not (yet) able to control investment choices myself, so we need to do something.
The pots are large enough for the BestInvest custody fee to be a non-issue (and to get their £300 golden handshake!), and I'm fairly happy with their platform, so moving to BI would seem to have sense.
However, Skandia don't (yet) allow re-registration off their platform, so we'd have to disinvest.
Does anyone know when RDR will required platforms to allow re-registration? Was it end of 2012?
The pots are large enough for the BestInvest custody fee to be a non-issue (and to get their £300 golden handshake!), and I'm fairly happy with their platform, so moving to BI would seem to have sense.
However, Skandia don't (yet) allow re-registration off their platform, so we'd have to disinvest.
Does anyone know when RDR will required platforms to allow re-registration? Was it end of 2012?
I am not a financial adviser and neither do I play one on television. I might occasionally give bad advice but at least it's free.
Like all religions, the Faith of the Invisible Pink Unicorns is based upon both logic and faith. We have faith that they are pink; we logically know that they are invisible because we can't see them.
Like all religions, the Faith of the Invisible Pink Unicorns is based upon both logic and faith. We have faith that they are pink; we logically know that they are invisible because we can't see them.
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From talking to Cavendish this week they were suggesting that reregistration could happen as early as this June.
However I've not seen that date in writing anywhere and IFAs here may have better info.Remember the saying: if it looks too good to be true it almost certainly is.0 -
I have no doubt you have already considered this, but can you re-agent the skandia holdings to an online broker ? From a quick look at https://forums.moneysavingexpert.com/discussion/3153942 ClubFinance and CommShare can use skandia.
I'm a little surprised that you're okay with HL : they're either charging a platform fee for trackers, or they're keeping part of the trail commission on active funds for giving no advice whatsoever.0 -
From talking to Cavendish this week they were suggesting that reregistration could happen as early as this June.
June would be fine, but maybe I need to directly ask Skandia, or maybe BestInvest will have the inside track.I am not a financial adviser and neither do I play one on television. I might occasionally give bad advice but at least it's free.
Like all religions, the Faith of the Invisible Pink Unicorns is based upon both logic and faith. We have faith that they are pink; we logically know that they are invisible because we can't see them.0 -
psychic_teabag wrote: »I have no doubt you have already considered this, but can you re-agent the skandia holdings to an online broker ? From a quick look at https://forums.moneysavingexpert.com/discussion/3153942 ClubFinance and CommShare can use skandia.
Yes, I had considered that, but want to keep my cognitive load down by ideally using as few platforms and portfolio structures as possible.
We mainly use HL for unwrapped holdings, but we do also have some OEICs held in ISA accounts. I intend to slowly address this, and won't be moving any more funds to HL, but I'm working down a fairly big list of things that need doing, and the Skandia ISA is top. After that, we have my wife's protected rights etc. to move, and that's going to be an even bigger headache as it's only £25k so platform/tracker fees can start to bite.I'm a little surprised that you're okay with HL : they're either charging a platform fee for trackers, or they're keeping part of the trail commission on active funds for giving no advice whatsoever.
Current (flexible!) plan is -
1) Wait for Skandia multifunds in-specie to happen, and then move all of my wife's S&S ISAs to BestInvest and go for a similar portfolio to my SIPP, so mainly Vanguard trackers.
2) Move my ISAs to BestInvest and do similar.
3) Move my wife's PR (and a couple of other pensions) to HL and use Vanguard LifeStrategy. (£48 pa rather than £120 pa for a SIPP on BestInvest)
4) ?
5) Retire.
The end result should be 1xSIPP and 2xISAs on BestInvest, 1xSIPP on HL, and my GPP on Friends Life.I am not a financial adviser and neither do I play one on television. I might occasionally give bad advice but at least it's free.
Like all religions, the Faith of the Invisible Pink Unicorns is based upon both logic and faith. We have faith that they are pink; we logically know that they are invisible because we can't see them.0 -
sorry to hijack your thread,please advise when in - specie happens with Skandia Multifunds,i have a similar situation to address0
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