You may have collected several pensions or Individual Savings Account (ISA) pots over time that can be hard to keep track of and manage. Transferring your investments and consolidating your investment portfolio in one place could be beneficial for you and your intermediary, if you have one, to help manage your investments more easily.
Transferring could give you:
- a consolidated view of your investments – all on one statement;
- easy access to online portfolio valuations;
- easily view and track the performance of your investments and make changes to your portfolio if you need to;
- easy switching between funds, and
- access to portfolio planning and analysis tools to help your intermediary, if you have one, keep track of your investments.
Things to think about before you make a decision
You should be comfortable with the investment choices that you make as you may lose features, protections, guarantees or other benefits when you transfer. If you’re not sure, you should get financial advice - there may be a charge for this.
A transfer for consolidation purposes could be from one capital at risk stocks and shares ISA to another – so the value of your investments after any consolidation can still fall as well as rise and you may get back less than you invest.
Alternatively, the transfer could be from a cash ISA to our stocks and shares ISA. In this scenario you need to be aware that you’re transferring between two very different products.
Unlike money held on deposit as it is in a cash ISA, your money in a stocks and shares ISA is at risk; its value could fall as well as rise and you could get back less than you put in – so although our stocks and shares ISA has no fixed term, you should be prepared to hold your investment for at least five years – ideally longer.
Any new funds you move your money into will have their own set of risks that will be detailed in the fund information that will be available to you.