Transfer H.L. s+s Isa over to Natwest...Considerations.

Dandytf

mser's
Is there any serious Considerations ,moving from H.L. to NatWest.
It's been <5 years <5k via H.L. though my personal choice of Funds are in need of Pro help.
Ide like to choose NW s+s Isa -Ambitious type.
I would lose my own choice, though Ive think there's a real chance that Pro Investors would embarrese me over 5yrs, not guaranteed of course.
If this is simple enough to transfer over a few weeks, then next consideration is my recent Sipp which is in loss status, considerably.

thanks 

dunstonh

Its an unusual choice to move away from whole of market to a heavily restricted robo that is fairly expensive for what it offers.

If DIY hasn't worked for you then you can always select a multi-asset fund and a lower cost platform.

Dandytf

dunstonh said:

Its an unusual choice to move away from whole of market to a heavily restricted robo that is fairly expensive for what it offers.

If DIY hasn't worked for you then you can always select a multi-asset fund and a lower cost platform.
 

Thanks, the part missing is NW -make withdrawals at any time (I think 5 yrs each Isa saving 'time' possible 10 or more) withdrawals  I found 'useful' via GIA.-Eventually.
Whilst the only HL Multi fund I know of is their Multi Managed Sipp variant. -it is deemed a Balanced pension fund, I wonder if I have enough years heading past 50.
Is it maybe more important that NW limited funds at the very least have used some knowledge in choosing funds.
e.g. There must be some pre Calculation from 5 'ready made funds"

thanks

Dandytf

Final Isa q.,,.
How does Value be transferred from one provider to next provider.
Does HL 'sell each fund' and then total is passed over to next provider.-excluding Fees.
I'll then check Pensions board as my self select Sipp may never return positive % it hasn't yet 3yrs approx.

thanks mser's

dunstonh

Whilst the only HL Multi fund I know of is their Multi Managed Sipp variant. -it is deemed a Balanced pension fund, I wonder if I have enough years heading past 50.

HL's own branded funds are cash cows for HL.   
Being whole of market, you do not need to use HL's funds.  You can use the Vanguard Lifestrategy or the HSBC Global Strategy which are much cheaper (the latter being the cheaper one of the two)

Thanks, the part missing is NW -make withdrawals at any time (I think 5 yrs each Isa saving 'time' possible 10 or more) withdrawals  I found 'useful' via GIA.-Eventually.

All modern ISAs are open ended and you can make withdrawals whenever you like, how often you like.

Is it maybe more important that NW limited funds at the very least have used some knowledge in choosing funds.
e.g. There must be some pre Calculation from 5 'ready made funds"

Robo offerings are just flow charts leading you to a pre-built portfolio.    The Vanguard or HSBC ranges (or Blackrock and L&G offerings) are often used with many robos behind the scenes.    So, using them directly on a whole of market platform is often more cost effective.

Banks traditionally have an awful track record when it comes to investing.

Dandytf

The Open Ended comment, is generalised at best.
e.g. NW GIA -the taxable type- Does have 'Withdraw' Tab which can be used anytime.
H.L. s+s Isa -Non Taxable type- Doesn't offer any type of 'Withdraw" Tab.
Basically  chosen Funds Does have option of dropping one or more to acheive 'Partial Withdrawal'
t.b.h. I could potentially slightly reduce HL Isa monthly savings, which seems much simpler via NW Pre choices.
Maybe I'm choosing   convenience over fees.
If possible please help by answering how Isa 'Pot' is transferred, are my hl funds 'sold' before being t/ferred to NW.

thanks appreciated.

Beddie

Dandytf said:

The Open Ended comment, is generalised at best.
e.g. NW GIA -the taxable type- Does have 'Withdraw' Tab which can be used anytime.
H.L. s+s Isa -Non Taxable type- Doesn't offer any type of 'Withdraw" Tab.
Basically  chosen Funds Does have option of dropping one or more to acheive 'Partial Withdrawal'
t.b.h. I could potentially slightly reduce HL Isa monthly savings, which seems much simpler via NW Pre choices.
Maybe I'm choosing   convenience over fees.
If possible please help by answering how Isa 'Pot' is transferred, are my hl funds 'sold' before being t/ferred to NW.

thanks appreciated.

Yes, they are sold before being transferred as cash.

Dandytf

Beddie said:

Dandytf said:

The Open Ended comment, is generalised at best.
e.g. NW GIA -the taxable type- Does have 'Withdraw' Tab which can be used anytime.
H.L. s+s Isa -Non Taxable type- Doesn't offer any type of 'Withdraw" Tab.
Basically  chosen Funds Does have option of dropping one or more to acheive 'Partial Withdrawal'
t.b.h. I could potentially slightly reduce HL Isa monthly savings, which seems much simpler via NW Pre choices.
Maybe I'm choosing   convenience over fees.
If possible please help by answering how Isa 'Pot' is transferred, are my hl funds 'sold' before being t/ferred to NW.

thanks appreciated.

Yes, they are sold before being transferred as cash.

Is that manually, i.e. would I need to trigger Sell instruction and then Cancel hl DD.
My only slight concern is, if I request Transfer whilst opening new Isa via NW.
Then does this take care of h.l. sell/cancel DD automatically. 

thanks mser's

savit4l8er

I think I would action the sales and cancel the DD myself. You can possibly cancel the monthly collection online on account settings or call and tell them.  You can cancel the DD with your bank easy. 

That way you have all in cash if you can accept being out of the market a while. 

Dandytf

Thanks user's reply's today.
I think to avoid any post Nov' DD's debiting, then it could make sense to place Sell Action. on each fund, then DD can be Cancelled afterwards.
I honestly think I'll move s+s Isa + recent Sipp, Iv'e enjoyed pre Pandemic Highs and serious Lows in subsequent years.
Maybe I'm hoping Net Zero years ahead of any hope Globally!

Qyburn

Dandytf said:

The Open Ended comment, is generalised at best.
e.g. NW GIA -the taxable type- Does have 'Withdraw' Tab which can be used anytime.
H.L. s+s Isa -Non Taxable type- Doesn't offer any type of 'Withdraw" Tab.

In HL once logged in click "My account" then  "Stocks & Shares ISA". Second tab from the right is "WITHDRAW MONEY". Also explained in their help ..
https://www.hl.co.uk/help#adding-and-withdrawing-money/withdrawing-money