Fidelity to Hargreaves Lansdown

cardi11

I wish to make a partial ISA transfer from my Fidelity FundsNetwork Stocks and Shares ISA to the Octopus AIM ISA (more risky but free of Inheritance Tax after 2 years). Unfortunately, Fidelity no longer allow a partial transfer and I would have to transfer my complete Fidelity Holdings to another platform and then make the partial transfer from my new provider.

My gut feeling is to switch to Hargreaves Lansdown despite their not being the cheapest but they do seem to allow partial transfers and do have a wealth of information on their web-site..

Has anybody had experience of making such a switch from Fidelity to Hargreaves (or any other provider) and, if so, how smooth and quick was the process.

There are other possible platforms such as iii but comments on this forum would seem to rule them out.

I have generally been happy with Fidelity, using them through Cavendish Online, but sadlt Cavendish now only operate through Fidelity and don't even deal with Cofunds.

I would welcome hearing of the experiences of other readers on this matter.

westy22

Wherever you decide to move to you will need to consider a possible 6 to 8 weeks transfer time for a cash only move and anything between 3 and 6 months for an in specie move of current holdings as they stand.

This is the experience of many other people making S&S ISA transfers this year.

Totton

When we moved to HL one of those we were using was Fidelity. The transfer went very smoothly although I did our usual and sold the Fidelity holdings and transferred as cash which is a lot easier.

cardi11

Thanks Westy22 and Totton for your replies.

When Totton says that they sold the Fidelity holdings and transferred as cash, was the cash still retained within an ISA or are you describing moving funds which were not in as ISA anyway.

It shouldn't make a difference to the efficiency of the move but I don't have 100% confidence in Fidelity's administrative procedures having once messed up my wife's holdings so badly that they had be entirely reconstructed, a process which took Fidelity months to complete.

puk999

cardi11 wrote: »

I don't have 100% confidence in Fidelity's administrative procedures having once messed up my wife's holdings so badly that they had be entirely reconstructed, a process which took Fidelity months to complete.

I've recently had a similar experience with the Fidelity SIPP.

Totton

cardi11 wrote: »

When Totton says that they sold the Fidelity holdings and transferred as cash, was the cash still retained within an ISA or are you describing moving funds which were not in as ISA anyway.

Hi, The cash was retain din the ISA's, the transfer took about 2-3 weeks if I remember correctly. I also transferred as cash within the Stocks & Shares ISA from a couple of other providers, again I had no problems. I recall HL telling me that provided they held the same funds I could transfer those as they were but the better option was to transfer as cash. You are out of the market for a short while but it's a flip of the coin whether that is a bad or good thing :-)

HTH,
Mickey

cardi11

Thanks Totton; I think I'll follow your example and do it from Cash within the ISA