Cashing In An ISA (Charges?)

wrkactjob

My wife has a stocks and shares ISA with Fidelity which after a couple of years where it has increased in value by £150 we want to cash in.

I know if I ring the IFA he will just try to talk us into not doing it (of course they are getting a yearly .5% commission so thats understandable) but we just want to cash it in.

I have log in details to the fidelity online site can it be done from there?...is the IFA going to tell me charges apply?...or is the fund value what is due?

Hominu

You'll need to read the specific T&Cs that you received when you opened the account, this will detail any exit charges and specify any minimum period.

roswell

Cash or S&S ISA ?

westy22

My wife has a stocks and shares ISA with Fidelity which after a couple of years where it has increased in value by £150 we want to cash in

Fairly clear that the OP has a S&S ISA;)

westy22

I have log in details to the fidelity online site can it be done from there?

Yes

is the IFA going to tell me charges apply?

There should be no charges unless Fidelity has a closing fee

or is the fund value what is due?

It will be the selling price at the next forward pricing point (normally the next midday after you tell them to sell).

jimjames

There shouldn't be any charges to close the ISA. It doesn't sound like the performance has been great if the increase is only £150 in a few years, presumably the ISA wasn't invested to the full limit. If you aren't selling for any specific reason you might want to consider that the money will be taxable once outside the ISA wrapper although if you haven't used your current cash ISA limit you can put it in there instead.

https://www.fidelity.co.uk/investor/research-funds/charges-fees/default.page?
Exit Fees

Our fund supermarket does not charge an exit fee when you sell your investment, regardless of whose funds you own. You will find that other fund supermarkets may have exit fees when you sell or have additional fees above that which a fund company charges