Charles Stanley or Hargreaves S&S Transfer

jehangir

Hi , can anyone please give me some advice .

I hold about a £1000 in an S&S ISA Vanguard 80 with Hargreaves Lansdown that was opened in 2016.

Looking to invest a futher £20000 this year from my standard ISA savings into a S&S but would prefer to use Charles Stanley Direct
as the the fees are lower.

What would be the best way of going about the transfer or would it be possible to hold both accounts .

I have not used any of my ISA allowance from this year .

Any help would be much appreciated

badger09

jehangir wrote: »

Hi , can anyone please give me some advice .

I hold about a £1000 in an S&S ISA Vantage 80 with Hargreaves Lansdown that was opened in 2016.

Looking to invest a futher £20000 this year from my standard ISA savings into a S&S but would prefer to use Carles Stanley Vantage 80
as the the fees are lower.

What would be the best way of going about the transfer or would it be possible to hold both accounts .

I have not used any of my ISA allowance from this year .

Any help would be much appreciated

As you haven't paid anything into any ISA since 6th April 2017, you can open and fund a new S&S ISA with Charles Stanley (or anyone else).

You could then ask CD to transfer the VLS80 from your Hargreaves Lansdown ISA, either as units or as cash. OR you could simply leave your HL ISA as it is.

Be sure to check HL's T&C re their charges for transfers out & closing your ISA before you do so.

JohnRo

As above I'm assuming you mean Vanguard Lifestrategy 80, I don't know what Vantage 80 is.

If it was me,

Above all I'd want to avoid the HL account closure fee of £25+VAT and the HL transfer out fee (as cash or stock) of £25 per item.

The solution I would pursue would be to either just leave the HL investment where it is and forget about it until needed.

Or sell most of the VLS80 to cash, just leaving a small retainer invested to avoid the account closure fee.

Then transfer that cash on account at HL to a nominated bank account, that would mean losing the ISA wrap but given the amount in question and the current ISA allowance, going forward it's no biggie (imo)

edit:

If the cash ISA savings you describe that you want to move to a S&S ISA are from previous years and not containing any money paid in this tax year, then you can transfer any amount without using any of this years allowance, so you're not limited to the current years £20,000 allowance limit, if that's why you chose to mention that amount.

cloud_dog

jehangir wrote: »

Hi , can anyone please give me some advice .

I hold about a £1000 in an S&S ISA Vantage 80 with Hargreaves Lansdown that was opened in 2016.

Looking to invest a futher £20000 this year from my standard ISA savings into a S&S but would prefer to use Carles Stanley Vantage 80
as the the fees are lower.

What would be the best way of going about the transfer or would it be possible to hold both accounts .

I have not used any of my ISA allowance from this year .

Any help would be much appreciated

Assuming the OP means Vaguard LifeStrategy 80 and they are happy with this strategy and likely to keep this fund/strategy going forward, why wouldn't you open a new Vanguard S&S ISA account, deposit your £20k there, convert the HL holdings to cash and transfer to your new Vanguard S&S ISA and bite the bullet with regard to the HL closure fee. Keep it simple.

TrustyOven

jehangir, I think it's important to be meticulous.

Vantage is HL's name for a service (or a package / account): http://www.hl.co.uk/investment-services/vantage-service

As JohnRo guessed, I think you mean Vanguard Lifestrategy 80, which is an investment fund. But we are not too sure if that's what you meant.

Carles Stanley Vantage 80 doesn't exist. I think you mean Charles Stanley Direct (Charles Stanley is their advisory company with higher fees). And they don't have "Vantage" as a product or service etc.
They most likely do offer Vanguard Lifestrategy 80.

jehangir

Sorry for my original post ( I was in a rush on the way to work ) , it is a Vanguard Lifestrategy 80 that I hold with HL.

I will take the advice and open an account with Charles Stanley Direct and leave the £1000 in the HL account for the time being .

I am just looking to put away the money for around 5 - 10 years using the most hands off / cheapest platform .

Thanks for taking the time out to reply .

AnotherJoe

Would it be cheaper to hold the vls80 in vanguards new ISA ? Just askiing in case you aren't aware this is a possibility. I don't know how CS's charges are compared to that.

Lokolo

AnotherJoe wrote: »

Would it be cheaper to hold the vls80 in vanguards new ISA ? Just askiing in case you aren't aware this is a possibility. I don't know how CS's charges are compared to that.

CSD is 0.25% on holdings. I don't know what Vangaurd's charges are, I assume cheaper though.

badger09

Vanguard charges 0.15% up to £250k. Downside is they only offer Vanguard funds.

OP, if you intend investing your £20k ISA allowance in a lump sum, (or even say 4 lump sums) have a look at IWEB. £25 one off account opening fee then £5 per trade, but no annual charge, so after a couple of years you would be paying less .

jehangir

badger09 wrote: »

Vanguard charges 0.15% up to £250k. Downside is they only offer Vanguard funds.

OP, if you intend investing your £20k ISA allowance in a lump sum, (or even say 4 lump sums) have a look at IWEB. £25 one off account opening fee then £5 per trade, but no annual charge, so after a couple of years you would be paying less .

Thanks for everyone for taking the timeout to reply . It was my new accountant who advised either Charles Stanley Direct or Cavendish due to the ease of use .

I have looked into iweb but their website is not very user friendly anc quite basic .

My plans are in the the first year I would be looking to invest 20k in 3 installments and then drip feeding 300 a month for the next 10 years .

Eco_Miser

jehangir wrote: »

I have looked into iweb but their website is not very user friendly anc quite basic .

What do you mean by 'not very user friendly'? To me, it does everything I need, and doesn't have annoying distractions like trying to up-sell or make suggestions as to what's hot.