Transfer Vanguard funds to a fixed fee platform

Sea_Shell

I'm struggling with the search function too...

Are these available on iWeb?

HSBC Global Strategy Balanced Portfolio C Acc
Rathbone Global Opportunities S Acc

masonic

Sea_Shell said:

I'm struggling with the search function too...

Are these available on iWeb?

HSBC Global Strategy Balanced Portfolio C Acc
Rathbone Global Opportunities S Acc

https://www.markets.iweb-sharedealing.co.uk/funds-centre/fund-supermarket/detail/GB00B76WP695

Easiest to find by filtering on provider (HSBC Gbl Asset Mgt) and scrolling down the list, or a search on ISIN

For the Rathbone fund, iWeb only have the clean I class, not the superclean S class (OCF: 0.78% vs 0.52%). It is here: https://www.markets.iweb-sharedealing.co.uk/funds-centre/fund-supermarket/detail/GB00B7FQLN12

It may be possible to perform a conversion during the transfer, rather than a sale and transfer of cash, but this would need to be explored with the two providers.

Sea_Shell

Thanks for that Masonic.  

Not quite sure how to "explore" that option with the two providers, before becoming a customer and requesting the transfer??

Do they have an 'easy' web-chat function?

masonic

Sea_Shell said:

Thanks for that Masonic.  

Not quite sure how to "explore" that option with the two providers, before becoming a customer and requesting the transfer??

Do they have an 'easy' web-chat function?

As I understand it, your first port of call would be Fidelity, as they would need to handle the reregistration from their nominee to iWeb's. If Fidelity can convert the fund as part of this process, then you'd need to make sure the ISA transfer instruction from iWeb didn't contradict your wishes (i.e. by default they will instruct Fidelity to sell anything that they don't offer).

They do have live chat, but in my experience it is quite patchy, and for an issue like this a phonecall may be better: https://www.iweb-sharedealing.co.uk/help-and-guidance/contact-us.html

Sea_Shell

masonic said:

Sea_Shell said:

Thanks for that Masonic.  

Not quite sure how to "explore" that option with the two providers, before becoming a customer and requesting the transfer??

Do they have an 'easy' web-chat function?

As I understand it, your first port of call would be Fidelity, as they would need to handle the reregistration from their nominee to iWeb's. If Fidelity can convert the fund as part of this process, then you'd need to make sure the ISA transfer instruction from iWeb didn't contradict your wishes (i.e. by default they will instruct Fidelity to sell anything that they don't offer).

They do have live chat, but in my experience it is quite patchy, and for an issue like this a phonecall may be better: https://www.iweb-sharedealing.co.uk/help-and-guidance/contact-us.html

IIRC we had to move from Rathbone's 'I' to 'S' with Fidelity, as they no longer supported I.

Something to do with us originally being via Cavendish.

We couldn't add new money to 'I' so I doubt they could "pre-transfer" us back to the 'I' class.

masonic

Sea_Shell said:

masonic said:

Sea_Shell said:

Thanks for that Masonic.  

Not quite sure how to "explore" that option with the two providers, before becoming a customer and requesting the transfer??

Do they have an 'easy' web-chat function?

As I understand it, your first port of call would be Fidelity, as they would need to handle the reregistration from their nominee to iWeb's. If Fidelity can convert the fund as part of this process, then you'd need to make sure the ISA transfer instruction from iWeb didn't contradict your wishes (i.e. by default they will instruct Fidelity to sell anything that they don't offer).

They do have live chat, but in my experience it is quite patchy, and for an issue like this a phonecall may be better: https://www.iweb-sharedealing.co.uk/help-and-guidance/contact-us.html

IIRC we had to move from Rathbone's 'I' to 'S' with Fidelity, as they no longer supported I.

Something to do with us originally being via Cavendish.

We couldn't add new money to 'I' so I doubt they could "pre-transfer" us back to the 'I' class.

It would be done at the fund house as part of the transfer. There is not a requirement for there to be an overlap in the unit classes supported by both providers. This comes up a lot with providers that negotiate with the fund houses for special unit classes they can market to their customers (e.g. HL), and it just requires the provider to be accommodating to the process, which not all are. HL as an example, is accommodating to this process, but I don't know if Fidelity is.

That said, sale and repurchase is probably not the end of the world, especially for a holding like this, which I presume isn't a large proportion of your portfolio.

Sea_Shell

I found this on the iWeb page, and it reads to me (?) like they would effect the transfer and move the investment to the closest class of fund that they have,  so in my case with Rathbones from 'S' to 'I' ??

Am I reading that right?? 

jimjames

Sea_Shell said:

I found this on the iWeb page, and it reads to me (?) like they would effect the transfer and move the investment to the closest class of fund that they have,  so in my case with Rathbones from 'S' to 'I' ??

Am I reading that right?? 

It certainly sounds that way which is good news

ericlered7

Hi all,

I have read through this thread, am I right in thinking that if I have a S&S ISA with Vanguard, I can open a new one with iWeb, and request to transfer my previous years subscriptions from Vanguard to iWeb, whilst keeping my current years subs in the Vanguard ISA, which I can keep adding to, and transfer at a later date if I want?

In this way I would avoid the ongoing 0.15% Vanguard fee, and there is also no charge at either end for transferring? and no ongoing charges from iWeb for holding?

Do you open the iWeb ISA first, and once it's open, request the transfer? and how do you request the transfer, can it be done in the online Vanguard account?

Finally, when an ISA is transferred in this way, is there any risk of being "out of the market" at all?

Thanks for any help, happy new year!

(Ps. sorry for posting in 2 threads, wasn't sure which one was the better one to ask in!)

ColdIron

ericlered7 said:

I have read through this thread, am I right in thinking that if I have a S&S ISA with Vanguard, I can open a new one with iWeb, and request to transfer my previous years subscriptions from Vanguard to iWeb, whilst keeping my current years subs in the Vanguard ISA, which I can keep adding to, and transfer at a later date if I want?

In this way I would avoid the ongoing 0.15% Vanguard fee, and there is also no charge at either end for transferring? and no ongoing charges from iWeb for holding?

Do you open the iWeb ISA first, and once it's open, request the transfer?

Yes, yes and yes

and how do you request the transfer, can it be done in the online Vanguard account?

You must initiate the transfer from IWeb not Vanguard

https://www.iweb-sharedealing.co.uk/our-accounts/transfer-your-existing-investments.html#isa-or-sd-account

Finally, when an ISA is transferred in this way, is there any risk of being "out of the market" at all?

Not if you do an 'in speccie' transfer as per the link

You should make sure that IWeb allow you to hold your existing investments