Can I use different ISA provider each year

rentaghost_2

I currently have a Jupiter maxi ISA although have not used any allocation for several years. Can I use a different provider this year or if I want to do this do I have to transfer existing years savings to the new provider ?

Hope this question makes sense

ReportInvestor

Hi Rentaghost, your question makes perfect sense .

Yes you can go to a new provider for this year's allowance.

No transfer is necessary. [You've probably done quite well with Jupiter, depending on your choice of fund.] One of the few things I dislike about them is that they still charge the full initial charge for the reinvestment of dividends.

dunstonh

Nowadays, the more convenient approach is to use a fund supermarket. You can have hundreds of funds from all the major fund managers all within one statement. You can re-register your existing fund into the fund supermarket (at no cost - note, currently fidelity funds network have a deal which pays you to transfer it to them £25 for you £50 for the IFA that does it - don't know if the deal is available to do it yourself).

This allows you to have a whole range of managers/funds every year and change them throughout the year if you wish.

The days of putting all your money in one fund/manager are long gone (at least from the professional point of view).