Waystone management taking over my isa?

clive0510

HI. I've got or did have a s/s isa with marks n spencer. I've had it for years and to say its been volatile would be an understatement. I had a letter last week to say it's now going to be managed by a company called waystone management. I've never heard of them. so should I just leave it and let waystone do what ever? or should I transfer the funds elsewhere?

eskbanker

Presumably the letter covers this?

https://bank.marksandspencer.com/content/dam/wpb/msrf/pws/documents/MSUTMImportantInformation.pdf

Up to you whether to stick with it or to transfer elsewhere, but if you're concerned about volatility then it sounds like you may need to review your investment choices against your objectives and risk tolerance?

clive0510

https://forums.moneysavingexpert.com/discussion/comment/82189399#Comment_82189399

thanks for that. but I think I was more asking about who knows the reputation of waystone and how they've performed over the years. thanks.

MeteredOut

https://forums.moneysavingexpert.com/discussion/comment/82189487#Comment_82189487

Waystone are the provider. A provider does not perform, that's down to your fund selection. If, as part of this move, your fund selection, and the providers fees, have not changed, the future performance will be as it would have been under M&S,

jimjames

https://forums.moneysavingexpert.com/discussion/comment/82189487#Comment_82189487

You've posted in the bank accounts forum so might have more luck if you ask it to be moved to the Savings and Investments. I assume you're aware that it's a share based product but you might want to check the charges on the funds you've got and may well find that other options are better value.

MEM62

I was more asking about who knows the reputation of waystone and how they've performed over the years. 

As an administrator, how they perform has little overall impact. What does have an impact is how your investments perform and that will depend solely on you choice of where your assets are invested, and you can change that should you choose to do so.