Author Topic: Moving S & S ISA from CSD to vanguard (UK)  (Read 1115 times)

jade

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Moving S & S ISA from CSD to vanguard (UK)
« on: March 05, 2018, 06:22:33 AM »
hi all,

I have a S & S ISA (Vanguard Life Strategy 60) with Charles Stanley Direct but have plans to move to Vanguard UK directly now that this is an option for UK investors as it seems like it will be lower fees. I just wanted to check that this is still the case in the event I missed something since I decided?

Platform fee Vanguard UK: 0.15%
Platform fee CSD: 0.25%

TER/OCF: 0.22% for both

many thanks!

« Last Edit: March 06, 2018, 01:58:07 AM by jade »

DavidAnnArbor

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Re: Moving S & S ISA from CSD to vanguard (UK)
« Reply #1 on: March 09, 2018, 03:08:03 PM »
I have no information to offer, sorry. You could try to also get advice at bogleheads.org

Friar

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Re: Moving S & S ISA from CSD to vanguard (UK)
« Reply #2 on: March 09, 2018, 04:03:37 PM »
I transferred at the end of January from another provider, admittedly not CSD, to Vanguard and it all went smoothly.

The Vanguard LS funds I held transferred almost immediately as they were a straight transfer and don't require selling and re-buying.

The non-Vanguard funds I held had to be sold and then Vanguard funds bought with the proceeds. This took ~2 weeks.

Annoyingly, I started the transfer a couple of days before the February dip which meant the funds that got sold were sold quite high! Ah well.

If your question was more about the fees then, yes, Vanguard is a cheaper platform. It does limit you to only Vanguard funds whereas CSD, I believe, lets you buy from many providers. E.g. HSBC, Fidelity, etc.
« Last Edit: March 09, 2018, 04:05:19 PM by Friar »

jade

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Re: Moving S & S ISA from CSD to vanguard (UK)
« Reply #3 on: March 12, 2018, 04:27:31 AM »
I transferred at the end of January from another provider, admittedly not CSD, to Vanguard and it all went smoothly.

The Vanguard LS funds I held transferred almost immediately as they were a straight transfer and don't require selling and re-buying.

The non-Vanguard funds I held had to be sold and then Vanguard funds bought with the proceeds. This took ~2 weeks.

Annoyingly, I started the transfer a couple of days before the February dip which meant the funds that got sold were sold quite high! Ah well.

If your question was more about the fees then, yes, Vanguard is a cheaper platform. It does limit you to only Vanguard funds whereas CSD, I believe, lets you buy from many providers. E.g. HSBC, Fidelity, etc.

thanks for the info, that's good to know it went smoothly but shame about selling high.

Yes, we are now wondering if there is any issue just staying on one platform like Vanguard... We're newbie, simple investors building up a stache in VLS60 (currently £30k+) after receiving some advice here. So cheapness wise and fund wise Vanguard would be ok, and I understand the VLS60 itself is diversified but I wonder if there would be any benefit from leaving the £30k in CSD and then starting Vanguard just to diversify across platforms?

jade

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Re: Moving S & S ISA from CSD to vanguard (UK)
« Reply #4 on: March 12, 2018, 04:27:56 AM »
I have no information to offer, sorry. You could try to also get advice at bogleheads.org
that's ok, thanks

Friar

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Re: Moving S & S ISA from CSD to vanguard (UK)
« Reply #5 on: March 12, 2018, 10:56:34 AM »
I did exactly that. Kept my previous years’ ISA at another provider and used this year’s allowance to open the Vanguard ISA.

It was more due to familiarity with the old provider and the effort of having to do a transfer which, as it turns out, was pretty pain free.

My hand was forced to transfer in Jan as my old provider was closing down.

The only benefit I can see of having different providers is the FSCS £85k cover per institution.

jade

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Re: Moving S & S ISA from CSD to vanguard (UK)
« Reply #6 on: March 13, 2018, 02:54:22 AM »
I did exactly that. Kept my previous years’ ISA at another provider and used this year’s allowance to open the Vanguard ISA.

It was more due to familiarity with the old provider and the effort of having to do a transfer which, as it turns out, was pretty pain free.

My hand was forced to transfer in Jan as my old provider was closing down.

The only benefit I can see of having different providers is the FSCS £85k cover per institution.

thanks Friar. Yeh, it seems that transfer to Vanguard is pretty smooth by all accounts.
Been doing a little research and it seems the FSCS  £85k is for cash, and it is £50k for ISA's.
Be interesting to hear from others with over £50k investments on whether they split between institutions based on this? We're at just over £30k now but it could inform whether we leave that £30k in CSD and start a new ISA with Vanguard or transfer it all over.