We now offer in-specie transfers for Stocks and Shares ISAs. These are electronic ISA transfers, where the transfer of securities between two providers is completed without needing to sell the holdings down to cash monies.
The in-specie transfers will be made to InvestEngine DIY portfolios. If you wish to transfer an existing stocks and shares ISA to one of our Managed ISA portfolios; the transfer will be made as cash into one of our DIY ISA portfolios, and then clients can make an internal portfolio transfer to their desired Managed portfolio. This is because our Managed ISA portfolios already have the securities built into them, so only cash can be used to fund these types of portfolios.
Please note: Currently we only support in-specie transfers into InvestEngine.
For DIY ISA portfolios in-specie transfer, there may be certain holdings we can not transfer. In this case, those securities would need to be sold down and transferred as cash.
InvestEngine will very soon be able to support in-specie transfers for GIA accounts as well as in-specie transfers out. Keep an eye out on our Community page for our latest updates on this and other new features to our offering.