If you’d prefer to manage your investments yourself, you can move money from your LifePlan Portfolio to a DIY Portfolio.
You don’t need to sell your investments manually. When you move money out of a LifePlan Portfolio, we’ll automatically sell the required amount for you.
Step 1. Create a DIY portfolio
Before moving your money, you’ll need to set up a DIY Portfolio.
To do this, log in to your InvestEngine account, select “Create portfolio” and choose the DIY option. You can then build your portfolio by selecting ETFs and setting your preferred allocations. Once you confirm your choices, your portfolio will be ready to receive funds.
Step 2. Move money from your LifePlan Portfolio
Next, go to your LifePlan Portfolio and select “Options”, then “Move Cash Out”.
Enter the amount you’d like to move, choose your DIY Portfolio as the destination, and confirm the transfer.
At this point, we’ll automatically sell the necessary investments in your LifePlan Portfolio to generate the cash.
Step 3. What happens next
Once you’ve submitted your request, we’ll place the sell order for you. This usually happens on the same day if the request is made before the trading cut-off (2pm).
After your investments are sold, the cash needs to go through a settlement period before it can be moved.
Step 4. Waiting for settlement
Settlement is the time it takes for a trade to fully complete. This usually takes around 2 working days.
During this time, the cash won’t be available yet. Once settlement is complete, the money will be ready to move.
Step 5. Receiving your money in your DIY Portfolio
After the cash has settled, it will appear in your DIY Portfolio as cash.
From there, you can choose how to invest it. Unlike LifePlan Portfolios, investments in a DIY Portfolio are not made automatically, so you’ll need to place trades yourself.
How long does it take
In most cases, the full process takes 2 working days after execution for the sale and settlement to complete.
It can take a little longer if your request is made after the trading cut-off, or over weekends and bank holidays.
Important things to know
You don’t need to sell anything yourself. When you request to move money, we handle the sale automatically.
You’ll need to wait for settlement before the money becomes available. This is a standard part of investing.
Money moved into a DIY Portfolio will stay as cash until you decide how to invest it.
Each ETF has an ongoing cost, known as the Total Expense Ratio (TER). This is built into the fund and reflected in its performance.
Capital at risk. The value of your portfolio with InvestEngine can go down as well as up. You may get back less than you invest. Past performance is not a reliable indicator of future results.
ETF costs apply. This communication is for general information only and does not constitute personal advice. If in doubt you may wish to consult a professional adviser for guidance.
Tax treatment depends on your personal circumstances and may change in future.