Any update on this pls?
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.
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Thanks for the response Seb.
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Jumping in here (hope thatās okay) with a follow-up question, based on @tom.winterton previous response.
It seems clear that fractional share transfers out arenāt possible because the CREST system doesnāt 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, shouldnāt 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 feasibleāand straightforwardāfor portfolios consisting of a single ETF (like my own with VUAG), allowing me to remain āin the marketā 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!
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To me rounding down ETF shares for an ISA transfer-out is a good compromise. I would be happy to accept that solution.
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How we looking on this @Sebastian.Ricaurte
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.
Based on the fact this hasnāt 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 Iāll 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.
Is there likely to be any update on this? Itās dragging on a lot.
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Hello Matt, thank you for getting in touch.
Iām 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
@Paul_M, could you please confirm whether developers have started implementing this feature? I want to clarify if itās still in the conceptual stage or if itās fully planned out, actively being implemented as we speak. Thanks!
I was told via a support email that it wonāt be this year. Sadly Iāve had (chosen) to cash out in order to move.
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!
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 wonāt sell for you, so you have to do this yourself.
Think it took about 2-3wks if I recall, so wasnāt too bad both parties did well with no holdups. Cash transfers are usually quicker than in-species.
To keep this topic active, I wanted to check if thereās been any update or estimate on the potential release of this feature in 2025? Iām currently holding off on further investments into a platform that limits flexibility, as I would prefer the peace of mind knowing I can transition if needed in the future.
Personally, I would be open to transferring whole shares only, if thatās an option.
Previously, you mentioned:
āIt might be more appropriate to drop support@investengine.com an email if you want to discuss specifics regarding a portfolio or transfer to a specific third party ā We will try and support this where we can.ā
Would ad hoc requests for transfers still be a possibility, even as a paid service?
Thank you for your time and support,
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Are ther any news on this matter? Any deadlines or details on how this can be implemented? Thanks
Hello! Thanks for bringing this up. We totally understand how important in specie transfers out are. Unfortunately, we donāt have any updates to share right now, but weāll keep you posted as soon as we have more information. Appreciate your patience!
Effective communication is fundamental to customer satisfaction and business success. I strongly urge your team to improve response times, provide consistent and accurate information, and adopt a more customer-centric approach to communication.
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Hi! Thank you for sharing your thoughts with us. We apologise if our response time or the information provided have not met your expectations. We are actively working to improve our communication processes and are committed to providing consistent, accurate, and timely responses.
Your feedback will help us enhance our customer service, and we will focus on refining our approach to better meet your needs.
Hello,
I recently opened a business account but never imagined it would not be possible to transfer out. We intended to build the portfolio to a decent size but have held off transferring more funds in since finding this out.
Can you confirm if development on this has started? If so, what stage ie. planningā¦beta testing etc?
If development has not started given the timeline on this thread. We will assume this is not actually in the pipeline at all.
We would prefer not to have a business account with IE engine if this is not possible within a reasonable timeframe and will most likely sell, take the tax hit and go elsewhere.
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