Should I bed and ISA? Or buy and sell at the same time?

longwalks1

I've got about £4,000 worth of shares in an AIM listed company, currently held in a normal share dealing account with First Direct.  I want to put them into an ISA but at present, cant get through to them on the phone or get much help via messaging.
I do have spare cash, so I could buy £4,000 worth in an ISA, and sell mine at exactly/almost the same time, would this be the best way?

And if i were to do so, would you put them into a new ISA, as I also have some of the same shares in another ISA, with a different provider.  Would splitting my holding between 2 different ISA's be a safer bet, just in case you have trouble selling with one provider when the time comes? 
Any advice greatly appreciated

Alexland

According to their website it should be possible to do this online however at £10.50 per trade and £10.50 quaterly account fee FD are not the most attractive place to hold investments. By comparison an ISA from iWeb (from Halifax) who also support AIM shares would be £25 setup, £5 per trade and £0 ongoing fee. Holding a single company is high risk and if it is fairly illiquid you could incur material spread costs in doing the trades.

https://www1.firstdirect.com/savings-and-investments/sharedealing/existingcustomers/

"bed and ISA. We’re currently unable to accept single instructions sell shares from your Investment Account and immediately purchase Shares within your ISA over the telephone. However, you can do this online"

longwalks1

Thanks AlexLand

ive had a thought and agree, the quarterly fee is a bit of a rip off, and the dealing fees too.  I’m thinking of loading up both FirstDirect sharedealing and my ISA (held with x-o) and hitting the ‘sell’ (on FDirect) and ‘buy’ (on X-O) buttons at exactly the same time

take a small hit on the spread and fee’s and get out of First Direct 

Alexland

Yes if you already have an ISA with Jarvis X-O then that would be fine as they are good too. The only reason I mentioned iWeb first, despite the £25 setup fee, is that Jarvis X-O works out a bit more expensive for ISAs due to their slightly higher trade fee and eventual £50+vat closure fee. Jarvis X-O can be cheaper than iWeb for very inactive general accounts (or Junior ISAs not offered by iWeb) where they have no exit fee.