ISA Lost £3K in 6 Months - Stick or Switch ?

dunstonh

Thanks again all. It just seems that whoever I take advice from has something to gain so hard to get objective help.

This is why you are told to seek independent advice when you need advice. If you seek advice from HSBC who can only retail HSBC products then guess what you are going to get.

RocketRonnieRadox

Thanks, Risk profile done and was medium.

The revious IFA I had spoken to suggested the Pru Fund with the smoothing feature. If I recall it also cost some 2K to switch.

atush

How about instead of switching and making the loss permanent, you can consider putting future contributions in different assets/funds etc?

RocketRonnieRadox

Thank you atush, you've highlighted the real most important question here - Should I move at all or not ?

Im also a little confused about the implications of losing by moving - is that really correct ? If I stay and it recovers over time is it not the same as another fund increasing the value ? How do I actually lose by moving ?

dunstonh

RocketRonnieRadox wrote: »

Thank you atush, you've highlighted the real most important question here - Should I move at all or not ?

Im also a little confused about the implications of losing by moving - is that really correct ? If I stay and it recovers over time is it not the same as another fund increasing the value ? How do I actually lose by moving ?

Its the degree of loss and gain. They wont be the same.

RocketRonnieRadox

dunstonh wrote: »

Its the degree of loss and gain. They wont be the same.

Thank you.

does this mean that the potential for gain is better by remaining where I am now ?

RocketRonnieRadox

Just reading the documentation - this is a transfer not a sale of said shares as such the ducumentation suggests that

"As your shares are not sold, they are not subject to any potential loss or growth and or income reulting from being out of the market or any liability to UK CGT".

Does that mean that the potentil loss will not be "crystalised" ?

Prism

You can change your funds without having to transfer to a different platform. Changing to a new platform is not likely what you are after here - although I am not sure what it is you are after? You know that most investors have lost money over the last year too?

The only thing I see that you could change is the fact that all of your funds are UK based. That might or might not be a bad thing but its not very balanced

RocketRonnieRadox

Prism wrote: »

You can change your funds without having to transfer to a different platform. Changing to a new platform is not likely what you are after here - although I am not sure what it is you are after? You know that most investors have lost money over the last year too?

The only thing I see that you could change is the fact that all of your funds are UK based. That might or might not be a bad thing but its not very balanced

Thanks prism, what I am after is to review my holdings and ensure that they are in the best place as they havent been reviewed in some 10 years.

The product or reccomended fund from the HSBC Advisor is projected to make some 20K less than the projection of the current fund which has raised concerns about why I should transefer at all. If I take their higher risk fund then the projection improves by some 20K but my risk profile is not in line with the higher risk fund.

I suppose I want to maximise my investments potential at the end of the day.

[Deleted User]

I am not as experienced as people here, but I have one idea, which comes to mind:


You can open another Stocks& Shares ISA, right? You can open iWeb Share or Vanguard ISA, if not this tax year, open it after April. They are cheap and do as good as HSBC ISA, with fraction of their price.
Then wait for your investments to come to green again. This could take a year, maybe three.


Sold them one by one, deposit money to a new ISA. In two years, you will make full switch, without 2.5k transfer costs, and you will have no losses, because you will sell only if your fund is in green again. If funds are in negative, you can wait a little bit longer, you will get there.


And when buying new fund on new ISA platform, buy product you really should have in the first place - like Vanguard LS or something similar, fund which you don't need to manage ever again.