Transfer HL Stocks&Shares ISA to Trading 212

IanHowland

Hi,

I have a Hargreaves Landsdown CV Stocks and Shares ISA through my work and I was thinking of transferring it to as they have increasde the fees now and Trading 212 is much cheaper and looks a lot more modern.

Most of my funds are trackers and they don't match the ones available in Trading 212 so is it best to just sell all these and then do a cash transfer?

Also, given all the chaos in the world at the moment, is it a good time for this or should I just wait until everything calms down (hopefully).

Thanks, Ian

Ayr_Rage

If you are invested in a S&S ISA you should be savvy enough to realise that this is an absolutely bonkers time for markets, buy or sell at your peril unless you can get inside the minds of the US, Israeli and Iranian leaders.

If you cannot do in specie transfers then you've no option, sell funds and then transfer in cash to the T212 Stocks ISA, which means you have to take into account charges at both ends.

If you have a large amount be aware that T212 limit the maximum position in some stocks.

eskbanker

In general it's better to be investing in the right thing for your objectives and strategy, rather than choosing a platform via which to invest in something cheaper but less optimal.

However, if you can find T212 investments that align with your strategy then yes, you can either buy into those funds within HL (there's no 'and' in Hargreaves Lansdown by the way) and transfer to T212 in specie (i.e. avoiding being out of the market), or just sell, transfer the proceeds, and buy.

In terms of world 'chaos', it doesn't really matter if you're both selling and buying, and market conditions aren't especially turbulent at the moment, when viewed against more significant financial events of the past (and future).