I know that this has been talked about in other threads already but I wanted to make a separate thread for the purposes of an ISA transfer to give people the chance to vote for it and to show my support for this idea as a priority.
Essentially - I would like it so that ISA’s that you have contributed to from previous tax years can be transferred to Freetrade. Either as cash (if a cash ISA or a S&S ISA that you have sold all your holdings in) or as underlying stocks/ETFs if Freetrade provide them.
Currently I have an ISA with another provider that I really want to transfer to Freetrade!
Also @Freetrade_Team1 if you did happen to have any insights on this you could share this would also be appreciated. It looks like it may be a while before we see this feature from what I can tell.
I have an Innovative Finance ISA with Ratesetter which provides loans on a p2p basis, assuming I can get the money out of the loans (it’s not instant, but shouldn’t be much of an issue) I’m hoping it’ll act just like a cash ISA for transfer purposes.
Is there currently an option to transfer existing (ISA) portfolios from other brokers to Freetrade?
This would be a win-win for both the clients and Freetrade. I would pay less fees and have more transparency, and Freetrade would easily increase the assets under management.
There is usually a (cash) incentive for people to move, but it might not be necessary based on the advantages that Freetrade offers.
In the case of missing stocks/funds at Freetrade, equivalent funds can be proposed or missing stocks added quicker if impact material enough
Not at the moment and it is not yet on Freetrade’s roadmap. However, it has been mentioned that Freetrade will work on this feature at some point and ensure that users are able to switch both to and from Freetrade
Already on the roadmap!
It seems like Freetrade wants to strike a balance between offering as much as the users need but without excessive lists of securities that will have limited demand. You can see that some of the suggestions in Stock Requests have already been added and, hopefully, many more will be added if the demand will be justified.
We’ll certainly work on solutions for a) & b) in the future too though. When it comes to b) you should be able to arrange to have them held electronically with the registrar and then transfer to us quite easily
If I could make the case for these - I would be quite happy for them to be treated as separate ideas if thats helpful to see how popular they are
a) non ISA share transfers
If customers have existing non-ISA shareholdings elsewhere, they will be forced to maintain a separate account with a different broker for these - rather than being able to consolidate all their shareholdings with Freetrade.(which is what I’m sure you qould prefer!)
I would have thought that transferring non ISA shares would actually be easier than ISA portfolios
b) transferring physical certificates in/out of Freetrade
I have now sympathy with not prioritising this but when you suggest " you should be able to arrange to have them held electronically with the registrar and then transfer to us quite easily" - have you see what Registrars change for transferring holdings away from their default/in-house option?!!
& they’re ‘next up’ rather than ‘later’.
