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Transferring a stocks and shares isa
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Saltyrob
Posted: 14 October 2023 10:15:55(UTC)
#1

Joined: 10/11/2012(UTC)
Posts: 166
Hi all,

I have two stocks and shares isa's, one self managed and one with a wealth manager. I want to transfer the isa from the wealth manager to my self managed isa.I am concerned that transferred stocks and cash remain in their isa wrapper. Is it better to transfer the stocks as stocks or instruct them to be sold to cash which would incur high transaction costs. All so is there anything I should be aware of.Many thanks
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Ian Eccles
Posted: 14 October 2023 10:31:15(UTC)
#2

Joined: 04/07/2021(UTC)
Posts: 1,079

Thanks: 313 times
Was thanked: 1818 time(s) in 752 post(s)
I have transferred a stocks and shares ISA a couple of times in the past without problems.
Some take longer than others to make the transfer but that is outside your control.
Remember if you cash your holdings before transfer you are no longer in the market and when you buy back you have stamp duty plus broker charges and you may miss any benefits if the market rises during transfer.
Avoid a transfer in April because it's the start of the ISA season and busy time, same applies to March when the stragglers are making their investment, these times the transfer will probably take longer.
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Saltyrob on 14/10/2023(UTC)
Hilda Ogden
Posted: 14 October 2023 10:42:49(UTC)
#3

Joined: 31/07/2023(UTC)
Posts: 892

Thanks: 750 times
Was thanked: 1752 time(s) in 636 post(s)
Saltyrob;282387 wrote:
Hi all,

I have two stocks and shares isa's, one self managed and one with a wealth manager. I want to transfer the isa from the wealth manager to my self managed isa.I am concerned that transferred stocks and cash remain in their isa wrapper. Is it better to transfer the stocks as stocks or instruct them to be sold to cash which would incur high transaction costs. All so is there anything I should be aware of.Many thanks

Best that you ask the target ISA manager if they can hold the exact same investments on their platform. Sometimes these wealth manager firms have a class of investment unique to themselves. Or even entire funds just for their own use. Even Hargreaves Lansdown have class of investments unique to themselves and run their own funds too. In the event your target ISA manager cannot hold the exact same investments as the wealth manager firm, then unfortunately the decision is made. You will have to go to cash and do a cash transfer. So, there's no universal answer. You need to check. HTH.
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2 users thanked Hilda Ogden for this post.
Saltyrob on 14/10/2023(UTC), Thrugelmir on 14/10/2023(UTC)
Thrugelmir
Posted: 14 October 2023 11:06:01(UTC)
#4

Joined: 01/06/2012(UTC)
Posts: 5,331
In specie transfers can be painfully slow to complete. Something to be aware of if you wish to trade the underlying investments.
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