iWeb - Worth getting in now?

BrockStoker

Sorry for the slight hijack, but does anyone know if it's possible to transfer out part of a stock holding - say I want to move 1000 shares (without selling) from a 2000 share holding for example?

grumiofoundation

BrockStoker said:

Sorry for the slight hijack, but does anyone know if it's possible to transfer out part of a stock holding - say I want to move 1000 shares (without selling) from a 2000 share holding for example?

Think would be dependant on both provider A and provider B allowing this.

If applicable would need to keep current years subscriptions together. 

BrockStoker

grumiofoundation said:

BrockStoker said:

Sorry for the slight hijack, but does anyone know if it's possible to transfer out part of a stock holding - say I want to move 1000 shares (without selling) from a 2000 share holding for example?

Think would be dependant on both provider A and provider B allowing this.

If applicable would need to keep current years subscriptions together. 

Thanks. Keeping the current year's subscriptions together is a bit of a pain, but glad to hear that some kind of partial transfer is feasible in theory. Certainly better than nothing!

happybagger

Alexland said:

Yes for example the R(etail) class of the L&G International Index fund that we are invested in is 0.51% compared to the (I)nstitutional class at 0.13% so on that fund the difference of 0.38% covers their platform costs. iWeb offer both R and I class units on that fund so they could transfer as R class and then it would be a couple of £5 trades to move to I class or something else. I guess you could ask L&G to do a unit class conversion during the transfer but they might not be interested. On the minimum amount the extra 0.38% is clearly much less than the cashback over 2 years but if you start contributing more it becomes marginal benefit or worse.

I had done some switches beforehand to reduce to three the number of tracker funds held direct with L&G (R class) across the 4 ISA 'accounts' that L&G can't merge. (One of them is a Pep). Then when transferred to iweb my intention was to transfer to the I class lower cost units thus 6 trades total cost £30, easily recouped by the lower charge of I class

I considered transferring to Fidelity first as they don't offer R class but switch to I class automatically. Hindsight...

Alexland

happybagger said:

I considered transferring to Fidelity first as they don't offer R class but switch to I class automatically. Hindsight...

They have the International Trust R class so it might depend on the fund but you could ask for them to add it.

https://www.fidelity.co.uk/factsheet-data/factsheet/GB00B2Q6HT33-legal-&-general-interntl-index-tst-r-acc

I am still a bit unclear if our L&G ISAs are in scope to get transferred to Fidelity as part of the sale of old products. They suggested that the classes would get converted so no customers would be at a disadvantage from having to pay Fidelity platform fees. That would suit me as we get reduced Fidelity platform fees due to our other accounts.