Nutmeg ISA transfer

missymouse

Hi

could anyone advise me.
i want to transfer stocks and shares ISA to Vanguard. 

2 stocks are already vanguard funds so need to be in specie incurring a £40 charge, the rest are non vanguard funds so will need to be changed to vanguard ones so presumably there will be fees at other end

another alternative is to liquidate the whole fund to cash, transfer and reinvest. It is very difficult to decide

anyone done this

thanks

Albermarle

You can do both at the same time.
You could transfer the two Vanguard funds in specie and  transfer the rest as cash.
When the cash arrives at Vanguard ( which will be before the inspecie transfer as they usually take more time) you could buy funds on the Vanguard platform with no charges.

dunstonh

2 stocks are already vanguard funds so need to be in specie incurring a £40 charge, the rest are non vanguard funds so will need to be changed to vanguard ones so presumably there will be fees at other end

I have a gut feeling that Nutmeg won't allow in-specie transfers as their portfolios are premade.

missymouse

it will for a fee

the cash liquidation is good but I will have to check if I can do in specie and cash for the transaction 

artyboy

Since when has Nutmeg ever offered Vanguard funds?

DoublePolaroid

I transferred out two Nutmeg JISAs to Vanguard a few years back and was offered the chance to transfer in-specie for a fee of £20 per fund. I just checked my messages to confirm as (for some reason) my account remains open. From memory the in-specie transfer was much quicker but because it only formed a small portion of the total with hindsight I’d probably have been better off liquidating everything. 

And to answer the previous question whilst Nutmeg don’t (or at least didn’t - I haven’t used them since back then) offer the opportunity to invest in individual Vanguard funds alone, their pre-made portfolios - which are funds-of-funds - do include Vanguard products. 

missymouse

Yes definitely 2 Vanguard funds

I think I will do the same as you Double

do you think the in specie funds weren’t worth the bother and expense of fees?

DoublePolaroid

missymouse said:

Yes definitely 2 Vanguard funds

I think I will do the same as you Double

do you think the in specie funds weren’t worth the bother and expense of fees?

I don’t remember the numbers. The question would be how likely is it that the value of the Vanguard funds rises by more than the cost of the transfer in the time it takes for the liquidated funds to be transferred and subsequently invested.

The answer is unknowable though the smaller the sum invested the lower the likelihood. 

I have an inkling that I had an issue with the transfer that I think related to the fact it was a partial in-specie transfer which was more bothersome than the transfer fee but I can’t for the life of me remember the details. Which I realise is not helpful. The liquidated part of the transfer did definitely take longer than expected.

artyboy

Well every day a school day. Admittedly I'm on a 'special' lower charge with Nutmeg due to 'stuff' but the idea of paying their normal fees just to hold bog standard Vanguard funds... well it certainly sounds like a no-brainer to transfer out.

eskbanker

artyboy said:

Well every day a school day. Admittedly I'm on a 'special' lower charge with Nutmeg due to 'stuff' but the idea of paying their normal fees just to hold bog standard Vanguard funds... well it certainly sounds like a no-brainer to transfer out.

Nutmeg investors aren't "paying their normal fees just to hold bog standard Vanguard funds", but to buy into ready-made portfolios which may or may not include Vanguard funds (among others) within their composition - that's not to say that such an approach is worth the fees of course, but that's a separate issue....

missymouse

All I know is that I have held it since 2016 and I don’t think it is doing great

my Vanguard one seems better