Transferring from Stocks and Shares ISA

eskbanker

badger09 said:

Catbells said:

Thanks all.  I think it would be wise to transfer to multiple providers - spread the risk.  Is this the right idea?

If you have more than £85k in your S&S ISA, then it’s sensible to split it so you retain FSCS protection. 

Just to be clear, it's sensible to limit cash in any institution to £85K, but that limit doesn't have the same significance for investments, which will be ring-fenced in a different way, effectively avoiding the risk of total loss.

badger09

eskbanker said:

badger09 said:

Catbells said:

Thanks all.  I think it would be wise to transfer to multiple providers - spread the risk.  Is this the right idea?

If you have more than £85k in your S&S ISA, then it’s sensible to split it so you retain FSCS protection. 

Just to be clear, it's sensible to limit cash in any institution to £85K, but that limit doesn't have the same significance for investments, which will be ring-fenced in a different way, effectively avoiding the risk of total loss.

Apologies. Sloppy wording and I should have quoted Dr Who’s suggestion that OP xfer the whole of his S&S ISA to a Cash ISA. 

If OP has more than the FSCS Savings protection in his ISA, he would need more than 1 Cash ISA. But, as Fidelity don’t allow partial xfer out, he would have to xfer to S&S ISA first.