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transferring money from stocks and shares isa to cash isa
cenever
Posts: 1 Newbie
Hi, I am rather in the dark about my ISA as it was arranged for me by a financial advisor. It is a Sterling ISA which I gather is not a good start! Is it possible to transfer funds into a cash ISA or should I cash it in and re-invest? I hope this isn't a stupid question!!
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Comments
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You can't transfer funds to a cash ISA. You can transfer it to another provider and/or funds. If you cashed it in then you'd lose the tax wrapper benefits.Debbie0
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If your goals and timescales are the same, you'd be best keeping the ISA wrapper intact and just changing the funds inside it - think of the ISA as just being a crispy shell over top of the investments inside. If you're still on good terms with your original advisor, ask about switching to an alternative. If the advisor is tied, consider moving the whole lot to an IFA who will be able to offer a wider choice of investments.You've never seen me, but I've been here all along - watching and learning...:cool:0
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