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Isa Transfer From Fidelity To Hargreaves And Lansdown

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I have opened 2007 ISA with Fidelity and so far have £500 in it. HL appears to offer 0.25% annual fee discount and 1-2% initial saving. HL also do many more things than just funds and I do want to start buying shares in the near future.

Transferring seems like a win-win situation for me but is there a catch? As I have very little experience in all this, I would appreciate any opinions on this matter.

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I have opened 2007 ISA with Fidelity and so far have £500 in it. HL appears to offer 0.25% annual fee discount and 1-2% initial saving. HL also do many more things than just funds and I do want to start buying shares in the near future.

Transferring seems like a win-win situation for me but is there a catch? As I have very little experience in all this, I would appreciate any opinions on this matter.

I use HL for my SIPP and they seem to be OK so far. With regards to my ISA I moved funds from Nationwide to Selftrade a couple of years ago with no problems or hidden charges. Like you, it was to reduce charges. Nationwide were charging management fees on their trackers which I was able to reduce by using a self select ISA account and buying my own trackers (such as ishares). The only disadvantage is any loss in gains (during the transfer of funds) which in my case worked in my favour as the FTSE dipped about 5% during the process allowing me to buy back in 5% lower; well every little helps!

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Thanks, MJS. From reading H&L transfer forms, they can move it without converting to cash. Guess I should just move everything since 0.25% may not matter in a year but since it's ISA, I'll probably be keeping it for a few years.

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I have opened 2007 ISA with Fidelity and so far have £500 in it. HL appears to offer 0.25% annual fee discount and 1-2% initial saving. HL also do many more things than just funds and I do want to start buying shares in the near future.

Transferring seems like a win-win situation for me but is there a catch? As I have very little experience in all this, I would appreciate any opinions on this matter.

If you will be starting more isa's in the future - then yes h-l is worth taking up. Reason being is that on top of the annual charge saving you also get near complete savings on new finds. For example - you want to start a new fund up or transfer/split your current then you can get for example a 5% discount on the 5% initial fee which is normally charged on new funds taken. Ie. negating any initial fee being paid. Well worth while.

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If you will be starting more isa's in the future - then yes h-l is worth taking up. Reason being is that on top of the annual charge saving you also get near complete savings on new finds. For example - you want to start a new fund up or transfer/split your current then you can get for example a 5% discount on the 5% initial fee which is normally charged on new funds taken. Ie. negating any initial fee being paid. Well worth while.

Fidelity removes most of the initial charges as well. However, saving depends on the IFA code entered (obtained when following the link to Fidelity website) when buying funds.

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