Transferring from single provider S+S ISA to 'supermarket' ISA

Trying_to_be_good

Hi, I'm hoping someone can help.

At the moment I have a mini S+S ISA with an individual provider. I'm keen to move this to a 'supermarket' (not sure this is the right expression) provider that allows you to buy in funds from many providers rather than just the one I currently have.

I know the key is not to sell up the original investment, but don't know how to transfer to a new 'provider'.

Thanks in advance.

Aegis

When in doubt, phone up. Call the new provider and ask them how you'd go about transfering an existing ISA to them.

Where are you planning on moving your ISA to?

Trying_to_be_good

Aegis - don't now yet, just assuming it's possible and so starting to look at the possibility. Is there an article with suggestions?

dunstonh

If you are going to keep the same holdings with the fund supermarket, then you should re-register. If you are going to buy new holdings with the transfer value then you should transfer.

Re-registration doesnt take you out of the market. Transfer does.

Is there an article with suggestions?

There is no one perfect fund supermarket. Each of pros and cons depending on what you are after. Do you shares, investment trusts, UTs/OEICs & SICAVs? Do you want one that operates a cash fund or one that gives a full transaction feed (you probably dont by I would)? Do you want one with x-ray still reporting and/or portfolio building tools? Do you want your pensions and other funds in the same place?

Trying_to_be_good

dunstonh

Eek. I often read your posts and usually understand at least some of the content, but this uses jargon that's new to me. I have a SocGen ISA, which is now in an OEIC. I simply want to move this from SocGen to a general provider, so I can also buy other (les risky) investments in my ISA wrapper.

At the moment I invest only £50pm, and would plan to keep this up as a minimum. Does this anwer the questions enough? Thank you.

dunstonh

It sounds like you want to transfer then and not re-register.

Once you have chosen your fund supermarket, you ask them for ISA tranfer forms. You cannot re-start the £50pm until after the transfer has arrived at the new provider (otherwise it gets classed as dual ISA and the new one will be voided).

You probably want to stick to UT/OEIC/SICAV so Hargreaves Landsdown is probably the best option for you.

Trying_to_be_good

Thanks - I'll look at their website and do a bit more research!

ukdutypaid

dunstonh wrote: »

x-ray still reporting

No way dude!! There's no way there is anything called that, please, tell me it ain't so! :rotfl:

I'll have a need for an IFA some point though.. All this scrabbling about over Cash ISA'a, Reg savers and Hi-interest accounts is mental and going to get me no where.... I'm putting it on the mortgage... for the time being...

Doing this is exactly what I had in mind though... I know you thought we were short termist greedy little so an so's going for the 110 L&G bonus thing, but (if or and) when I do receive it via Quidco... Doing the transfer out to H&L or one of the others was exactly what I had in mind doing.

Still intended going 'ethical' and to be honest the term is sooooo loose that (yes yes, don't analyse it too much for the sake of this post) it pretty much allows you to cover many sectors to do a spread.... (I even think some of them include Tobacco! e.g it's just farming at point of production!)

There may even be a case for a separate thread on "Ethical Funds",. if there ain't one already..