Fidelity monthly investment from ISA Cash Park?

Porcupine

Anyone know if it's possible to set up a monthly investment using cash already inside an ISA on the Fidelity platform? In other words this would be a monthly switch of £x from ISA Cash Park to A.N.Other Fund.

I can find an option ('Monthly Savings Plan') for buying a fund via a Direct Debit for new money, but not using existing ISA money. Is there any way to do this beyond just manually going in and making the transaction each month?

ianjean

Hi I've just invested with Fidelity put some money in the cash park

Does anyone know if / how I can move it to another fund within the group can I do it online or do I need to phone them?

colsten

If you want to move money from one fund to another, you have to sell the old fund and buy the new fund.

Linton

colsten wrote: »

If you want to move money from one fund to another, you have to sell the old fund and buy the new fund.

Fidelity has the facility to do this in one step - its called switching. The Cash Park is simply another fund so buying from the cash park is a switch from the cash park to your new fund. I dont believe you can set this up on say a monthly basis. I dont see any point in doing it anyway.

colsten

Thanks, Linton, I didn't know they offer an automated process to selling one fund and buy another. Very useful feature. I agree, it's something you'd request on a case-by-case basis.