Transferring an ISA from HL

brewerdave

Thinking of moving an ISA from HL to Ii where I already have ,what used to be, a single company SHARE ISA. This ISA is now going to cost me £14.99 pm

The HL ISA contains shares and funds ,some of the funds are HL's own.

Am I right in assuming that these will have to be sold and then cash transferred ? If so, I'll have to work out the potential costs to see whether it's worthwhile.

dunstonh

Am I right in assuming that these will have to be sold and then cash transferred ?

only if the receiving platform doesn't offer or accept that holding.

However, why would you move platforms due to a small difference in charges when you hold the HL own-brand funds, which are expensive and you want to keep them?

eskbanker

https://forums.moneysavingexpert.com/discussion/6656522/transferring-an-isa-from-hl

If you have multiple S&S ISAs, containing a mixture of shares and funds, and feel the need to review platforms (which would entail moving away from proprietary HL funds), is it perhaps worth stepping back and revisiting whether these holdings are aligned with your overall strategy, prior to assessing whether any tweaks are needed, and only after that considering where best to hold them?

jimjames

Thinking of moving an ISA from HL to Ii where I already have ,what used to be, a single company SHARE ISA. This ISA is now going to cost me £14.99 pm

The HL ISA contains shares and funds ,some of the funds are HL's own.

You certainly would find it worthwhile reviewing your investments if you're worried about costs. Worrying about the monthly ISA cost when you have expensive HL funds would be like shopping around for the cheapest petrol when you're driving a V12 Aston. The HL funds are very well marketed by them but they aren't good value for money at all and you can get much lower cost ones. So if you are moving platforms then it's worth doing so to change the funds you hold as well as a number of platforms have no annual fees.