Best method to transfer S&S ISA & GIA into one new ISA with a new broker


I currently have a S&S ISA which i contribute to with Charles stanley direct and also a GIA account with Freetrade.
i now want to transfer both the funds from charles stanley and freetrade to a new platform. The reason for moving the charles stanley ISA is that the platform fee and trading costs are quite high, and i also do not have access to individual stocks in the US, this is why i opened the GIA with free trade.
So what i am looking to do is move all the funds into one new S&S ISA with a new platform who offers funds and individual shares globally, i am thinking trading 212 which seem to only charge a 0.15% FX fee.
My questions are:
What is the best way to transfer these funds especially to conform to all the S&S ISA rules.
in terms of the new platform, is trading 212 the best option?
Thanks in advance.
Comments
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krish123 said:Evening All,
I currently have a S&S ISA which i contribute to with Charles stanley direct and also a GIA account with Freetrade.
i now want to transfer both the funds from charles stanley and freetrade to a new platform. The reason for moving the charles stanley ISA is that the platform fee and trading costs are quite high, and i also do not have access to individual stocks in the US, this is why i opened the GIA with free trade.
So what i am looking to do is move all the funds into one new S&S ISA with a new platform who offers funds and individual shares globally, i am thinking trading 212 which seem to only charge a 0.15% FX fee.
My questions are:
What is the best way to transfer these funds especially to conform to all the S&S ISA rules.
in terms of the new platform, is trading 212 the best option?
Thanks in advance.
You cannot transfer a Gia into an Isa. You'd need to sell the investments and deposit the cash into the Isa.2 -
I currently have a S&S ISA which i contribute to with Charles stanley direct and also a GIA account with Freetrade.
Have you contributed to the S&SISA this tax year? As wmb194 said, you can't transfer funds in a GIA to a S&SISA, hence you need to sell the funds and any money added to the new S&SISA would be counted against your ISA allowance in this tax year. You need to consider how much of your ISA allowance you have already used in the S&SISA with CS this tax year when subscribing to the new S&SISA.
'Compound interest is the eighth wonder of the world. He who understands it, earns it; he who doesn’t, pays it' - Albert Einstein.0 -
Trading 212 dont offer mutual funds.
Difficult to offer any guidance as you have not provided what you currently hold in your S&S ISA.0 -
wmb194 said:krish123 said:Evening All,
I currently have a S&S ISA which i contribute to with Charles stanley direct and also a GIA account with Freetrade.
i now want to transfer both the funds from charles stanley and freetrade to a new platform. The reason for moving the charles stanley ISA is that the platform fee and trading costs are quite high, and i also do not have access to individual stocks in the US, this is why i opened the GIA with free trade.
So what i am looking to do is move all the funds into one new S&S ISA with a new platform who offers funds and individual shares globally, i am thinking trading 212 which seem to only charge a 0.15% FX fee.
My questions are:
What is the best way to transfer these funds especially to conform to all the S&S ISA rules.
in terms of the new platform, is trading 212 the best option?
Thanks in advance.
You cannot transfer a Gia into an Isa. You'd need to sell the investments and deposit the cash into the Isa.
Yes either OEICS/unit trusts and index fund.
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ok understand i need to Sell all my stocks in GIA and then re purchase with T212. ( max annual deposit in an ISA = £20K)
Yes either OEICS/unit trusts and index fund.
@mattywallace121pointed out. T121 do not offer mutual funds = OEICS/Unit trusts.
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Doctor_Who said:I currently have a S&S ISA which i contribute to with Charles stanley direct and also a GIA account with Freetrade.
Have you contributed to the S&SISA this tax year? As wmb194 said, you can't transfer funds in a GIA to a S&SISA, hence you need to sell the funds and any money added to the new S&SISA would be counted against your ISA allowance in this tax year. You need to consider how much of your ISA allowance you have already used in the S&SISA with CS this tax year when subscribing to the new S&SISA.
That should be ok as it gives me around 7K still to invest this year.
I need to find out first if i can transfer in ISA with T212 first.0 -
mattywallace121 said:Trading 212 dont offer mutual funds.
Difficult to offer any guidance as you have not provided what you currently hold in your S&S ISA.
I own a global index fund, an emerging market fund, small cap fund and then a range of individual UK stocks.
Whatever is not available in T212 i will have to find alternative investments. Tbh it would be worth rationalising down my portfolio anyway.
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krish123 said:Doctor_Who said:I currently have a S&S ISA which i contribute to with Charles stanley direct and also a GIA account with Freetrade.
Have you contributed to the S&SISA this tax year? As wmb194 said, you can't transfer funds in a GIA to a S&SISA, hence you need to sell the funds and any money added to the new S&SISA would be counted against your ISA allowance in this tax year. You need to consider how much of your ISA allowance you have already used in the S&SISA with CS this tax year when subscribing to the new S&SISA.
That should be ok as it gives me around 7K still to invest this year.
I need to find out first if i can transfer in ISA with T212 first.'Compound interest is the eighth wonder of the world. He who understands it, earns it; he who doesn’t, pays it' - Albert Einstein.0 -
Doctor_Who said:krish123 said:Doctor_Who said:I currently have a S&S ISA which i contribute to with Charles stanley direct and also a GIA account with Freetrade.
Have you contributed to the S&SISA this tax year? As wmb194 said, you can't transfer funds in a GIA to a S&SISA, hence you need to sell the funds and any money added to the new S&SISA would be counted against your ISA allowance in this tax year. You need to consider how much of your ISA allowance you have already used in the S&SISA with CS this tax year when subscribing to the new S&SISA.
That should be ok as it gives me around 7K still to invest this year.
I need to find out first if i can transfer in ISA with T212 first.
I checked with T212 they do ISA transfers but only in Cash, so i think i will have to sell all of my holdings in Charles stanley and then initiate the transfer.0 -
Will i have to transfer my existing S&S ISA into T212 first before adding the GIA account funds? Or am i Able to Open a ISA with T212 and transfer my funds from freetrade before transferring in from CS?0
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