Cavendish Stocks/Shares

Futuristic

Hi

Just wondering how long it normally takes to setup a Stocks/Shares ISA and the investment being made?

On 13th Nov I made a investment into a fund and the status has been "Lump Sum: Processing instruction" since then.

How long does it usually take for it to be invested and S&S ISA setup?

bowlhead99

It depends who you are using. It can generally take 3-4 days to settle a fund transaction depending whether you get the order in before or after cut-off for that day. Although some providers will show the fund in your account once they know the price and number of shares, even if the cash hasn't settled. So, if you placed the order on Friday it wouldn't be at all unusual to still be processing.

Separately, it can take "a few" days to open an ISA account from scratch. So, if you are trying to simultaneously open an account and place a fund order inside the account which is not fully set up yet... that could feasibly add a day or two or three to the beginning of the fund order cycle mentioned above. Some places will open up the ISA slickly and easily almost instantly once they have received your documentation (if any is necessary) while others are slower.

Edit: sorry, didn't see you had named the provider in the subject line. Perhaps someone who has done it recently will share their experience. Generally for funds, it's not at all unusual to have an order from Friday not process fully until the middle of next week.

Futuristic

bowlhead99 wrote: »

Edit: sorry, didn't see you had named the provider in the subject line. Perhaps someone who has done it recently will share their experience. Generally for funds, it's not at all unusual to have an order from Friday not process fully until the middle of next week.

Thanks, just googled again with "Fidelity" who it's under and it seems it says 5 days so will wait until end of this week as it was placed at night last Thursday.

Kendall80

bowlhead99 wrote: »

Generally for funds, it's not at all unusual to have an order from Friday not process fully until the middle of next week.

Indeed, it appears to be the norm. My purchase last Thursday is still showing as pending.

jimjames

Futuristic wrote: »

Thanks, just googled again with "Fidelity" who it's under and it seems it says 5 days so will wait until end of this week as it was placed at night last Thursday.

Fidelity does seem slower than some others and less obvious what stage it is at too.

Futuristic

And it was completed today!