Dual Platform ISA query

grizzly1911

If you have one platform provider, for ISA funds from prior years, and you wish to use another one e.g. for DIY instead of continuing to use an IFA or to access a fund/product not available is there anything stopping you?

A fund that has a number of years S&S ISAs accumulated via an IFA. There are Cash ISAs from the same time period. All ISAs within then current limits.

1.)Would like to transfer some of those cash ISAs to S&S ISAs but use a new, non IFA, platform.

2.)Will also want to add new ISA this and coming years to this DIY platform.

3.)Providing annual limits aren't breached could new investments be made in both old and new platforms?

4.) Can I ask that the IFA to relinquish "control" of platform assets into my personal control.

psychic_teabag

Yes, you are free to open an ISA with a different provider for this year's subscriptions. But you cannot mix destinations for subscriptions - all the current year's subscriptions (of one type) must stay together.

Whether you can get your IFA to relinquish old funds might depend on the platform - I believe some are available only via an IFA, and would not allow you to deal direct. So you might have to transfer them to your new ISA, rather than just taking over management in-situ. But if you are on something like Fidelity platform, you could just change agent to, say, Cavendish, which is as good as having no agent.