transfering stock ISA from Vanguard to T212 but T212 does not have the same stock.

dan041961

I'm clueless here. I have Vanguard platform FTSE global index fund of around £4.5K. I need to transfer this to Trading 212 because I don't want to pay Vanguard's fees any more. However, T212 hasn't got exactly the same Index fund - I already have an account and an S&P fund with T212. There is also a similar FTSE all world index fund but I simply cannot get through to T212 for advice : can someone explain in simple terms what my options are please as I barely understand the mechanics of ISAs and transferences.  Ideally I would like to either transfer the FTSE to the T212 S&P fund or take out the T212 FTSE all world caps. Many TIA

eskbanker

You need to:

1. Sell the fund at Vanguard
2. Initiate the ISA transfer with T212
3. Wait until the transfer is complete, which will move the cash proceeds to T212
4. Invest the transferred cash in whatever you wish at T212

vacheron

Also be mindful that when you sell the Vanguard fund you will trigger a capital gain (or loss) if your investment is not held within an ISA wrapper.

While it is unlikely that a £4.5K index fund will generate a gain that exceeds your £3k per year allowance, it could do if you made any additional disposals in this tax year.

Aidanmc

dan041961 said:

I'm clueless here. I have Vanguard platform FTSE global index fund of around £4.5K. I need to transfer this to Trading 212 because I don't want to pay Vanguard's fees any more. However, T212 hasn't got exactly the same Index fund - I already have an account and an S&P fund with T212. There is also a similar FTSE all world index fund but I simply cannot get through to T212 for advice : can someone explain in simple terms what my options are please as I barely understand the mechanics of ISAs and transferences.  Ideally I would like to either transfer the FTSE to the T212 S&P fund or take out the T212 FTSE all world caps. Many TIA

Have you considered Iweb. They may have the fund you're invested in.

No annual fees, but they do charge £5 per trade so if you were investing regularly may not be best option.

Trading 212 only have ETF's

MX5huggy

Alternatively in Vanguard sell the fund you have then buy an ETF that is available on T212 I suggest VWRP.

I use VGVH it’s cheaper but has no emerging market exposure.

Then you can do an “in specie” transfer therefore not selling and re buying and being out of the market for an unknown period. 

dan041961

Thanks very much for the clear advice. It has generated some other questions regarding all points. 
1. selling the Vanguard fund - it is an ISA fund - so when I sell it at Vanguard does it become a cash ISA or what 
2. and if so what am I transfering exactly - an ISA fund or cash ISA
thanks again from clueless in clapham!

Aidanmc

dan041961 said:

Thanks very much for the clear advice. It has generated some other questions regarding all points. 
1. selling the Vanguard fund - it is an ISA fund - so when I sell it at Vanguard does it become a cash ISA or what 
2. and if so what am I transfering exactly - an ISA fund or cash ISA
thanks again from clueless in clapham!

After Selling the Vangard fund the proceeds will be showing as cash in your Stocks & Shares ISA

Then you will be transferring the Vangard Stocks & Shares ISA to T212 Stocks and Shares ISA 

You will need to initiate the transfer on T212 platform

Ch1ll1Phlakes

Aidanmc said:

dan041961 said:

Thanks very much for the clear advice. It has generated some other questions regarding all points. 
1. selling the Vanguard fund - it is an ISA fund - so when I sell it at Vanguard does it become a cash ISA or what 
2. and if so what am I transfering exactly - an ISA fund or cash ISA
thanks again from clueless in clapham!

After Selling the Vangard fund the proceeds will be showing as cash in your Stocks & Shares ISA

Then you will be transferring the Vangard Stocks & Shares ISA to T212 Stocks and Shares ISA 

You will need to initiate the transfer on T212 platform

This exactly.

dan041961

hi thank you very that's great info  and i will do that. - 

dunstonh

Also remember that you will likely be around 3-15 days out of the market.  So, any movements in price will not apply during that period.  That could wipe out any difference in charges.

If a platform cannot facilitate your investment selection, then you should filter that platform out of your research.   You shouldn't change your investment strategy because of it.

dan041961

1. many thanks that's useful to know

2. actually changing platform due to high fees from Vanguard - and thinking about building up my current T212 S&P funds which are currently doing very well so hopefully a win win although I'm not sure about completely ditching my FTSE globals