transfering a fund holding

frankie
frankie Posts: 845
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edited 13 November 2017 at 5:17PM in Savings & investments
I want to transfer the Vanguard holding from my mixed portfolio of different ISA funds which is held in Fidelity to Vanguard.

I initiated the transfer of the Vanguard product but Vanguard have halted the process because Fidelity will not allow partial transfers of ISA holdings.

I'm a bit confused about this, does it mean I will have to transfer ALL my portfolio to Vanguard including non Vanguard funds, meaning Vanguard will probably have to transfer my funds to cash as they do not hold non Vanguard products?

My aim is to try and reduce portfolio platform costs.

Any advice would be welcome, the portfolio is only a small holding of around £55k.

Comments

  • le_loup
    le_loup Posts: 4,047 Forumite
    ....... or leave it where it is.
  • LHW99
    LHW99 Posts: 4,137
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    You could search for "Snowman's spreadsheet" on MSE and see if any other platform would be cheaper than Fidelity for what you hold.
  • Eco_Miser
    Eco_Miser Posts: 4,708
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    SnowMan's spreadsheet. Note the capital 'M' if searching by user name.
    Eco Miser
    Saving money for well over half a century
  • Alexland
    Alexland Posts: 9,653
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    It might be because you have made contributions this tax year and you can only contribute to one S&S ISA per tax year? Usually you can only split an ISA from previous tax years.
  • Bravepants
    Bravepants Posts: 1,490
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    I was considering doing the same with my Fidelity ISA eventually. I have VLS 60, but also Fidelity Global Index and an income bond fund. I would eventually like to switch the Global Index fund into VLS 60 then shift it over to Vanguard directly to reduce costs, but keep the other funds in Fidelity.
    If you want to be rich, live like you're poor; if you want to be poor, live like you're rich.
  • frankie
    frankie Posts: 845
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    Alexland wrote: »
    It might be because you have made contributions this tax year and you can only contribute to one S&S ISA per tax year? Usually you can only split an ISA from previous tax years.

    I have no ISA for this year and in fact not for about 3 years.
  • frankie
    frankie Posts: 845
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    Bravepants wrote: »
    I was considering doing the same with my Fidelity ISA eventually. I have VLS 60, but also Fidelity Global Index and an income bond fund. I would eventually like to switch the Global Index fund into VLS 60 then shift it over to Vanguard directly to reduce costs, but keep the other funds in Fidelity.


    This is exactly the situation I am in.
  • jimjames
    jimjames Posts: 17,532
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    Alexland wrote: »
    It might be because you have made contributions this tax year and you can only contribute to one S&S ISA per tax year? Usually you can only split an ISA from previous tax years.

    Fidelity doesn't allow ISAs to be split for transfer, it's all or nothing
    Remember the saying: if it looks too good to be true it almost certainly is.
  • it may not be worth doing, but a possible approach would be:

    1) transfer all of your fidelity ISA to provider X (who are some S&S ISA provider who does support split ISA transfers).

    2) do a split transfer from provider X to vanguard investor, only transferring your vanguard funds.

    3) transfer all of your remaining ISA with provider X back to fidelity.

    alternatively, if provider X are just as good as fidelity for you, you could omit step (3).

    what i don't know is who would be a suitable provider to use as provider X. ... anybody have ideas?
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