You may have collected several pension pots, ISAs or general investment accounts (GIAs) 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 financial adviser, if you have one, and help manage them more efficiently.
There are lots of reasons to transfer:
- You'll have a consolidated view of your investments - all on one statement.
- Access to online portfolio valuations.
- View and track performance of your investments and make changes to your portfolio if you need to.
- Switch between different funds.
- Access portfolio planning and analysis tools.
Things to think about before you make a decision
Pensions
Transferring or consolidating a pension may not be the best option for you. You may lose features, protections, guarantees or other benefits — so make sure you compare products before transferring or consolidating. It's up to you to decide if this is the right decision for you. If you're not sure, speak to a financial adviser — there may be a charge for this.
It's important to remember the value of your consolidated pension pot can still fall as well as rise and the final value of your pension pot when you come to take benefits may be less than has been paid in.
Any new funds you move your money into will have their own set of risks that will be detailed in the fund information available to you.
You should be comfortable with decisions you're making, including any potential impact they have on your investment strategy. If you're unsure, you should speak to your financial adviser. If you don't have a financial adviser, you can visit MoneyHelper to find the right one for you.
ISAs
Transferring ISAs may not be the best option for you. It's up to you to decide if this is the right decision for you ‐ so make sure you compare products before transferring. If you're not sure, speak to a financial adviser ‐ there may be a charge for this. It's important to remember the value of your consolidated stocks and shares ISA can still fall as well as rise and you may get back less than you invest. So although our stocks and shares ISA has no fixed term, you should be prepared to remain invested 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 available to you.
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. In a cash ISA your money is held on deposit, but in a stocks and shares ISA the value can fall as well as rise and you may get back less than you invest.
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.
GIAs
Transferring GIAs may not be the best option for you. It's up to you to decide if this is the right decision for you ‐ so make sure you compare products before transferring. If you're not sure, speak to a financial adviser ‐ there may be a charge for this. Although the investment has no fixed term, you should be prepared to hold the investment for at least five years, ideally longer. It's important to remember the value of your consolidated GIA can still fall as well as rise and you may get back less than you invest. Any new funds you move your money into will have their own set of risks that will be detailed in the fund information available to you.