Consolidation & Transfers

Transferring ISAs is straightforward and protects your tax-free status:

How it works:

1. You tell us which ISAs you want to transfer
2. We contact your existing provider
3. They transfer the money directly to us
4. Your ISA wrapper and tax benefits are preserved

Key points:

• No tax implications: ISA to ISA transfers keep everything tax-free
• Timeline: Usually 2-4 weeks for electronic transfers
• Full or partial: You can transfer all or part of an ISA
• In-specie option: Some transfers can move the actual investments; others require selling and rebuying

Important: Don't withdraw the money yourself and try to re-contribute: that uses up your annual allowance! Always use the official transfer process.

Pension transfers are more involved but can be worthwhile:

How pension transfers work:

1. We gather information about your existing pension
2. We check for any valuable benefits you might lose
3. If suitable, we arrange the transfer
4. Your existing provider sends the funds to your new pension

Timeline: Usually 4-8 weeks, sometimes longer for older pensions

What gets transferred:

• The full cash value of your pension pot
• Your tax relief is preserved
• Any employer contributions already made

Types of pensions you can typically transfer:

• Old workplace pensions (defined contribution)
• Personal pensions
• Stakeholder pensions

Worth checking before you transfer:

• Any guaranteed annuity rates
• Exit penalties or charges
• Death benefits
• Any valuable guarantees

Not all transfers are a good idea. Here's what to check:

Exit fees
Some older pensions have exit penalties, especially if you transfer before a certain age or date. Always check the charges before deciding.

Guaranteed benefits
Some pensions offer valuable guarantees like:

• Guaranteed annuity rates (often very generous)
• Guaranteed growth rates
• Protected tax-free cash above 25%

These are usually worth keeping, even if it means having pensions in multiple places.

Defined Benefit (Final Salary) Pensions
These are special. They promise a guaranteed income in retirement based on your salary and years of service.

We strongly recommend keeping defined benefit pensions. They're extremely valuable and almost always better than transferring. If you're considering transferring one, you'll need specialist advice (this is a legal requirement for pots over £30,000).

Workplace pensions with employer contributions
If your current employer is still contributing, don't transfer that pension: you'd lose the free money!

Here's how we make transfers easy:

Step 1: Tell us about your existing accounts
Add details of your ISAs and pensions in the Consolidation section. Include the provider name and approximate value.

Step 2: We review and recommend
We'll check each account and tell you:

• Whether we recommend transferring
• Any potential issues to be aware of
• Expected timeline

Step 3: You authorise the transfer
Once you're happy, you sign the transfer authority. We do the rest.

Step 4: We chase and manage
We contact providers, chase progress, and keep you updated. You don't have to deal with call centres or paperwork.

Step 5: Funds arrive and get invested
Once transferred, we invest according to your chosen portfolio, aligned with your risk profile and ethical preferences.

Throughout the process: Your money remains invested where possible. We minimise time out of the market.