Closing Interactive Investor Account... Help please 29 November 2022 at 11:02AM edited 29 November 2022 at 11:26AM in Savings & investments 9 replies 272 views

6022tivo

Hello and good morning. 

I have a II account and for various reasons I want to cancel it. 

I've been selling investments and the account does not have enough value in it to warrant the monthly fee anymore. 

It currently consists of the below.


EVRAZ PLC ORD USD0.05 - Was a high value, these are currently suspended due to links with Russia (Value 0p)
           I suspect lots of people and funds have this, so I want to transfer out in case they come back to life????


VANGUARD LIFESTRATEGY FDS ICVC VANGUARD LIFESTRAT 80 % EQTY ACC
VANGUARD INVESTMENTS FUNDS ICVC VANGUARD FTSE GBL ALL CAP INDEX GBP ACC
           So looking at opening a vanguard account and bringing these in with me??? Is it possible to open a vanguard S&S ISA and transfer these in 

JPMORGAN EMER MKTS INVEST TRUST ORD GBP0.025
BAILLIE GIFFORD SHIN NIPPON ORD GBP0.02
           Can I bring these into a vanguard account (Assume not) Happy to just sell and cash out if need be? Any other option??




Just to add complication, all these are within a S&S ISA?? 

Also have some dividends due from shares I've sold recently. Where will they go once the account is closed? 

dunstonh

 I suspect lots of people and funds have this, so I want to transfer out in case they come back to life????

I suspect hardly any mainstream investor has this directly.  And its not an issue for most funds if they have a small allocation within their portfolio.

Can I bring these into a vanguard account (Assume not) Happy to just sell and cash out if need be? Any other option??

Vanguard is a restricted platform. Not a whole of market platform.  So, no.  You cannot move them to Vanguard.   You have to move them to a whole of market platform.

Just to add complication, all these are within a S&S ISA?? 

Its not a complication. 

6022tivo

So, say for the Vanguard ones. I can open a S&S Vanguard account and when I do the transfer, I can individually select the Vanguard ones to bring in?? 

I also have an X-O account, I can instigate a transfer for the Everaz?? 

What about the other two, any recommended platforms, or will X-O have them. 
I think X-O won't transfer in within a ISA? Which isn't a massive problem. 

Linton

If you want to retain the ISA status easiest to transfer the whole account to an S&S ISA elsewhere.  Simply set one up with a platform that supports a full list of investments (eg HL, AJBell and several others)  and ask for a transfer-in. Whether Evraz will cause any problems, I dont know.  Ask your chosen new provider.

6022tivo

Linton said:

If you want to retain the ISA status easiest to transfer the whole account to an S&S ISA elsewhere.  Simply set one up with a platform that supports a full list of investments (eg HL, AJBell and several others)  and ask for a transfer-in. Whether Evraz will cause any problems, I dont know.  Ask your chosen new provider.

Any thoughts on one that is recommended, especially if they accept the above? 
Assume any dividends due will just go the the new account? 

Any thoughts on one that is recommended, especially if they accept the above? 
Assume any dividends due will just go the the new account? 

Linton

6022tivo said:

Linton said:

If you want to retain the ISA status easiest to transfer the whole account to an S&S ISA elsewhere.  Simply set one up with a platform that supports a full list of investments (eg HL, AJBell and several others)  and ask for a transfer-in. Whether Evraz will cause any problems, I dont know.  Ask your chosen new provider.

Any thoughts on one that is recommended, especially if they accept the above? 
Assume any dividends due will just go the the new account? 

Any thoughts on one that is recommended, especially if they accept the above? 
Assume any dividends due will just go the the new account? 

Which platform is best depends on how much money you have invested and how often you deal.    With a pot of £10K AJBell art 0.25% will cost £25.  II as you know is fixed price. at about £120/year.  WIh a pot of £100K II would be much cheaper.

Yes, after transferring the account dividends would go to the new account.

6022tivo

Excellent. 

Is it possible to just transfer the Everz shares elsewhere? Like to X-O? 
When I've looked at the transfer forms on X-O they are full and complete transfers, nothing else? 

eskbanker

6022tivo said:

Is it possible to just transfer the Everz shares elsewhere? Like to X-O? 
When I've looked at the transfer forms on X-O they are full and complete transfers, nothing else? 

Some providers won't handle partial ISA transfers, so X-O may be one of those, but what is it that makes you want to split these holdings across multiple platforms anyway?

Linton

Sell your funds with II.  Transfer the whole ISA with its cash and EVRAZ shares to X-O?

6022tivo

Linton said:

Sell your funds with II.  Transfer the whole ISA with its cash and EVRAZ shares to X-O?

I think I want to keep the Vanguard ones, I assume they can't be transferred to X-O, they don't deal with funds do they?