In specie transfer out

General
21

Any update on this pls?

22

Hello there! Unfortunately, no updates as per now. In specie transfers out are in our service road-map for the upcoming months, with sadly not an specific date, but will be here soon.

1 Like
23

Thanks for the response Seb.

2 Likes
24

Jumping in here (hope that’s okay) with a follow-up question, based on @tom.winterton previous response.

It seems clear that fractional share transfers out aren’t possible because the CREST system doesn’t support them. This makes sense, as CREST appears to be the primary (or only) system for in-specie transfers in the UK, even though some brokers offer fractional share models.

However, shouldn’t it be possible to process an ISA transfer as a non-fractional transfer, rounding to the nearest whole share? Any remaining fractional shares could then be sold by InvestEngine, with the proceeds left in cash within the ISA or general account.

This seems especially feasible—and straightforward—for portfolios consisting of a single ETF (like my own with VUAG), allowing me to remain “in the market” for the vast majority of the portfolio.

Support feedback through email/message simply points me to " Can I transfer my InvestEngine ISA to another provider?" (which is a clear No).

Thanks!

1 Like
25

To me rounding down ETF shares for an ISA transfer-out is a good compromise. I would be happy to accept that solution.

1 Like
26

How we looking on this @Sebastian.Ricaurte

27

Hello! Thank you for your suggestion! I will forward it to the relevant team for consideration.
If there are any updates or changes, we will make sure to keep the community informed.

28

Based on the fact this hasn’t been sorted out in over 18 months, means I have little faith that it will ever be introduced.

I never actually planned on moving my portfolio away from IE, but having tracked this post since it was started in 2023, the false promises are very disconcerting for those with substantial sums invested, and therefore I’ll be moving my portfolio away from IE the very second this feature is released!

Such a shame, as I had very high hopes for this provider, having invested in them during their crowdfunding campaign last May.

29

Is there likely to be any update on this? It’s dragging on a lot.

30

Hello Matt, thank you for getting in touch.

I’m afraid our Development team are still working on in-specie transfers out. Please be assured that we will let you know when this feature is released

31

@Paul_M, could you please confirm whether developers have started implementing this feature? I want to clarify if it’s still in the conceptual stage or if it’s fully planned out, actively being implemented as we speak. Thanks!

32

I was told via a support email that it won’t be this year. Sadly I’ve had (chosen) to cash out in order to move.

33

Hi Matt,
Which approach did you take:

  • Selling first on a specific day yourself and then requesting the transfer?
  • Or requesting the transfer and letting them handle the sale before transferring the capital?

Also, how long did it take InvestEngine to process the transfer out?

Thank you!

34

I just bit the bullet and sold when I found out I had to sell, luckily it was I think the day after the US election results! So was up on this, and bought back in lower than I sold for. IE won’t sell for you, so you have to do this yourself.

Think it took about 2-3wks if I recall, so wasn’t too bad both parties did well with no holdups. Cash transfers are usually quicker than in-species.