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Transfer Stock&Shares ISA
Eisenhag
Posts: 2 Newbie
Does anyone know what needs to be done by one provider to complete the transfer of a stocks&shares isa to another provider?
I ask, as I am in the process now and it has taken 9 weeks so far and it's still not complete!
Should I complain to the FOS or is the process so complex that they are likely to ignore the issue? Some of the transferred funds had to be sold first and is now in cash so that part of my ISA is out of the market just when things started to move upwards.
I ask, as I am in the process now and it has taken 9 weeks so far and it's still not complete!
Should I complain to the FOS or is the process so complex that they are likely to ignore the issue? Some of the transferred funds had to be sold first and is now in cash so that part of my ISA is out of the market just when things started to move upwards.
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Comments
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Does anyone know what needs to be done by one provider to complete the transfer of a stocks&shares isa to another provider?
Yes.I ask, as I am in the process now and it has taken 9 weeks so far and it's still not complete!
Did you select in-specie transfer or cash transfer?Should I complain to the FOS
you cannot complain to the FOS. You have to complain to the firm that is causing the problem first. However, have you considered asking them why it is taking so long?I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0 -
As some of the funds could not be transferred between the firms, both cash and in-specie transfers are taking place...very slowly.
I did ask firm first but got standard "we are working as fast as poss. but transfer can take upto 6-8 weeks. And suggestions it was the other firms slow pace of work.0
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