Meet the Other Phone. Child-safe in minutes.

Meet the Other Phone.
Child-safe in minutes.

Buy now

Please or to access all these features

Investments

Discuss investments with other users on our Investment forum. For more advice read our tips for saving for your child's future.

Should I transfer old ISA into new one

3 replies

Definitelysometime · 05/08/2024 10:23

I have two S&S ISAS - an old one with Wealthify with about 10k in it (I say old as I don't have a current director debit or anything) and a current one with Hargreaves's Lansdown that's about 4k and I make small, regular deposits.

Would it be sensible to sell the Wealthify S&S and move all the money into HL? The fees are lower and I have a bit more input as to what funds etc. plus I feel like it's easier to keep track?

Or is withdrawing always a bad idea, especially as it hasn't been in there for years and years to grow...

OP posts:
mirrorlife · 05/08/2024 10:29

Don't withdraw it. You need to transfer it without withdrawing- it should tell you how to do this on the website.

In your shoes I'd look around a bit at other providers- I was previously with HL but have recently switched to Interactive Investor as the fees are lower for me. The best option for you will depend on how much you have invested, how often you buy/sell etc so it's worth looking at a few.

ErrolTheDragon · 05/08/2024 10:41

Agree with @mirrorlife

One other thing to be aware of with isa transfers is that they can take a few weeks, during which your money will be out of the market. This can be a good or bad thing depending on whether the market is falling or rising.

Definitelysometime · 05/08/2024 10:49

Thank you both, this is helpful. Definitely sounds like it isn't something to rush into. I'll take a look at some different providers and maybe look to transfer them both out at some point.

OP posts:
New posts on this thread. Refresh page