I am looking to transfer over my ISA from ii, whom I have been for several years - although majority of my investments are in index funds which are on InvestEngine, there are three old holdings in active funds (non ETF) which are now defunct. Once I transfer over the investments, what happens to these line items, although quite unlikely some of these may get corporate actions in future, but I don’t want to keep the ii account open (and pay for) for these zero value funds.
Isnt this ii’s problem and not yours? At ii you give 14 day notice period and the account should be closed. They can only close it if it has zero value. If you dont want the “stocks” or “funds” and there is a chance they may hold some residual value you can ask for them to be gifted to the “sharegift” charity, otherwise i would simply inform them that you are cancelling your direct debit and say goodbye!