Portfolio of ISA's & PEP's

wonko

A few weeks ago, I read somewhere on this site about a 'manager of PEP/ISA's that re-invested or have zero management charges - or something.

I have a collection of ISA's & PEP's over the years and, have recently been notified of the requirement to move one of them as the HSBC are closing the single company PEP plan that I subscribed to.

As I only have a limited time to do this, it has re-ignited my interest to consolidate all of my existing investments thus reducing overheads and maximizing return.

Can anyone point me in the right direction please?

Thanks in advance.

gt94sss2

HSBC actually offer ISA and PEP accounts with no annual fees as part of their HSBC InvestDirect share dealing service.

The only difference being (I think) that instead of being a 'single company' PEP, it would be a 'self select' PEP - though you can of course, just choose to hold one share in your PEP if you wanted.

Regards
Sunil

Money_Watch

If you've got a lot of different ISAs and PEPs with different fund managers, it's possible to "re-register" these with a fund supermarket, such as Fidelity FundsNetwork (www.fundsnetwork.co.uk) or Cofunds (www.cofunds.co.uk).

Re-registering your funds means that the administration of them is done by the fund supermarket, but your money remains invested in the same funds you've got them in already. The benefits are that you now have all of your investments in one place - you'll receive statements/valuations from the fund supermarket rather than from all of the different managers. Also, fund switching is often cheaper through fund supermarkets (0.25% with FundsNetwork), so moving your money around is less expensive.

There's no charge for re-registering your funds and your money remains invested at all times. The annual management charges for the funds remain the same.

If any of this is unclear or if you want more information, please just ask.

wonko

Yes, that's the sort of thing thanks. I seem to have a memory about one of the supermarkets re-investing a % of the management charge on a post on this sight somewhere... Best invest perhaps? I cannot remember.


Ed:

Ah, hours of digging and thread following and I found it:
http://www.moneysavingexpert.com/savings/isa-discounts
and here:
http://forums.moneysavingexpert.com/showthread.html?t=16835

Thanks to all.

bigfreddiel

I was in exactly the same position with HSBC with an SCP (Single Company PEP) I held with them - for Sunil's benefit, SCP's were an additional PEP of £3000 you could take out as well as the £5000 (or was it £6000?) PEP in other equities prior to the current ISA's

I transferred mine to Fidelity where I already hold my current ISA's, but could not stick to the company I was investe in.

Also I did not have time to move to others finance firms such as the Share centre ot TDW, si I maintained the PEP status but swapped to other funds.

Cheers

fj