Multiple Stocks & Shares ISA

Coinless

Hi,

I have two Stocks and Shares ISA platforms and they have a different global fund in each, and are performing about the same.

I want to keep them separate to spread risk, and I am only investing in one of the platforms as per the rules.

My question is:

Is there any benefit to transferring my passive ISA into my active ISA  to have only one platform and fund? Or will I end up with practically the same amount over the long term by keeping the separate ISAs?

Thanks.

root

You might save on fees by having them in one place depending on your platform and how they charge.

Albermarle

The performance of investments is unaffected by the platform they are on.

yorsiwel

You can transfer your passive fund to another platform and that may reduce the platform fee. (eg Fidelity charges 0.35%, AJ Bell 0.25%). If it's a platform, you would not have to convert your existing investment into one fund. 

If your "platforms" are actually investment companies, eg Invesco and Schroders, then transferring would involve selling your existing fund, since you can't hold Invesco funds with Schroders. If that is the case, then you should look into generalist platforms (eg AJ Bell) as the platform fees are likely to be lower and you can invest in any company's funds.