The Lemon Fool

Hello I'm managing the finances now via Power of Attorney for my elderly mother. She has a substantial amount invested in a stocks and shares ISA with Interactive Investor that has built up over many years, invested in various different funds and ETF's.

I'm trying to find out whether it's possible to transfer the ISA and split into two parts, to transfer to two different stocks and shares ISA's with two other providers. So effectively transfer part of the ISA to one provider and the rest to another. Can this be done without losing the ISA status?

Raasu wrote:I'm trying to find out whether it's possible to transfer the ISA and split into two parts, to transfer to two different stocks and shares ISA's with two other providers. So effectively transfer part of the ISA to one provider and the rest to another. Can this be done without losing the ISA status?

In theory, yes, and from what I've seen most brokers' transfer forms let you fill in a list of the shares you want to transfer, and an "everything" box to tick instead. However, individual brokers' may have their own restrictions so best to ask all the brokers involved first.

One thing to note is that you can only do partial transfers of previous years' ISAs. If you're transferring the current year's ISA you have to transfer all of it.

P.S. In case you're not aware, the way ISA transfers work is that you get your target broker to "pull" the ISA (or part thereof) to them. So, you go to your target broker and fill in their transfer form, in which you provide the details of the source broker, your account with them, etc.

Raasu wrote:Hello I'm managing the finances now via Power of Attorney for my elderly mother. She has a substantial amount invested in a stocks and shares ISA with Interactive Investor that has built up over many years, invested in various different funds and ETF's.

I'm trying to find out whether it's possible to transfer the ISA and split into two parts, to transfer to two different stocks and shares ISA's with two other providers. So effectively transfer part of the ISA to one provider and the rest to another. Can this be done without losing the ISA status?

Yes, done it many times. I always email both brokers involved beforehand just so I have it confirmed in writing, and write 'partial in specie transfer' in big letters at the top and bottom of the transfer form. This may or may not make any difference, but it makes me feel better.

You'll want a transfer form from each of the destination brokers. Some forms have space for listing the lines you want to transfer, others I've been told to use the white space at the bottom of the form, you should get the lowdown in the response to your request as to whether or not they accept partial transfers. Keep a copy of your transfer form. If you aren't confident the form makes your wishes clear throw in a covering letter.

Raasu wrote:Hello I'm managing the finances now via Power of Attorney for my elderly mother. She has a substantial amount invested in a stocks and shares ISA with Interactive Investor that has built up over many years, invested in various different funds and ETF's.

I'm trying to find out whether it's possible to transfer the ISA and split into two parts, to transfer to two different stocks and shares ISA's with two other providers. So effectively transfer part of the ISA to one provider and the rest to another. Can this be done without losing the ISA status?

you should be aware that ii are planning (not yet definite) an IPO for next year
if they go ahead its almost certain that any existing customers will get preferential treatment/opportunity at float time

it happened with HL and also with AJBell