Vanguard ISA transfer in times

BlueMickey

I think it is an in-specie transfer (apologies not familiar with this terminology). VG have said that my funds would still be in the market which means at least there wouldn't be any loss, but 6 months for a transfer to go through seems excessive! 

dunstonh

BlueMickey said:

I think it is an in-specie transfer (apologies not familiar with this terminology). VG have said that my funds would still be in the market which means at least there wouldn't be any loss, but 6 months for a transfer to go through seems excessive! 

If you are still in the market then you are not selling the funds and rebuying them.   You keep holding them but the platform registration is changed by the fund house.    The value of the units will go down as well as up.  So, losses are possible.  Just not losses from being out of the market.

This is notoriously slow with some fund houses.   This is why a warning usually exists when you use this method via advisers (it may not exist with DIY platforms as they are not advising).    The longest in-specie transfer has taken over 12 months for me.

GeoffTF

BlueMickey said:

I think it is an in-specie transfer (apologies not familiar with this terminology). VG have said that my funds would still be in the market which means at least there wouldn't be any loss, but 6 months for a transfer to go through seems excessive! 

The FCA has been threatening to take action to stop platforms charging high fees for high transferring out. After a recent consultation, the FCA settled for voluntary reductions. Some of the large platforms have abolished transfer out fees completely. The result has been a deluge of transfer requests, and the creaking transfer system cannot cope. A cynic might say that high transfer fees have been replaced by another barrier to competition.