S&S ISA transfer

webnibbler

I'm transferring my S&S ISA from HL to ii and wondered how the process works. ii are currently requesting a valuation from HL, and I'm unsure how do they account for changes in value following the valuation point. I have some pending orders on the ISA account at HL which may not be fulfilled before the valuation, how are these taken into account?

masonic

Either they transfer your holdings across by re-registering them to II, or they sell your holdings, transfer the cash proceeds across and you would need to reconstruct them on the other side.

If you have gone for the first option, then II needs a list of your holdings to confirm they will accept them (not all investments are available at every provider). What they are worth at any point in time is not relevant. If some holdings cannot be transferred across and need to be sold, the HL will sell them and transfer the cash proceeds.

You should not place any orders in your original account after you've submitted a transfer request as this can mess things up and slow the process down considerably.

webnibbler

@masonic Thanks for the info. Looks like it will need to be sold due to the fund class being different. Not the best time right now to be out the market though.

eskbanker

webnibbler said:

Not the best time right now to be out the market though.

The last week would have been a very good time to be out of the market - as ever nobody knows for sure what the next move will be but I'd hazard a guess that more would anticipate it being downwards than up so there's still a good chance of winning rather than losing IMHO....

webnibbler

The last week would have been a very good time to be out of the market - as ever nobody knows for sure what the next move will be but I'd hazard a guess that more would anticipate it being downwards than up so there's still a good chance of winning rather than losing IMHO....

Indeed! I wish I'd started the transfer a couple of weeks ago, that would have been very fortuitous.