![]() ![]() It's generally a quicker process, but as you're not invested you could miss out on gains from your previous investment, so it will depend on your goals. Despite this, the tax-free status of your money remains intact, and your new provider will reinvest those funds according to your instructions. This option involves your current provider selling your investments and the proceeds being sent to your new provider as uninvested cash, effectively allowing you to start the process over and make new investment decisions in the new ISA. If not, you will need to do a cash transfer. This only works if the new provider offers the same funds as your existing one. There may also be exit fees to pay, which you should always look at when comparing the best investment ISA funds. This type of transfer is ideal for those who are happy with their investments and don't want to make any changes or get involved in new stock trading, but because you're still invested, the process can take longer (typically four to six weeks). This involves a stock transfer whereby all the investments you hold, and all the funds you're invested in, are transported to your new provider with you staying invested throughout the process. There's a special process you'll need to follow if you want to retain the tax-efficiency of your already invested funds – don't simply sell the shares, withdraw the proceeds and start from scratch – and there are a couple of routes you can go down. You will need to be clear on what choices are important to you and, based on your portfolio and investment choices, which will offer the greatest value to you across fees, investment choice and service. Overseas investing – investing in shares from outside the UK can incur currency conversion fees and/or additional fees to those mentioned above.Wider investment choice – the number of funds and investments available from the platform.Better research functionality – some platforms will offer share research as part of their service and investors may find one platform outperforms another on the information available.Easier to use and better customer service – you may want different features from your platform or have access to telephone support, for example.No or lower custody fees – some platforms do not charge a fee to hold funds in your account.Lower trading fees – this is a fee for each time you buy or sell a share in your stocks and shares ISA. ![]()
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