Transfer out general investment account

Hi team.

I was about to initiate a transfer out of my general investment account funds to another broker. I was surprised, and indeed unhappy, to learn that this feature seems unavailable. In this forum, there has been talk about adding such transfers “very soon” in multiple replies from the team during the last year. Could you please provide an update on this?

I am quite shocked by the lack of such a feature – I have deposited significant amounts in my general account with you, and not being able to move these funds as I wish without going out of market is totally unacceptable. Going out of market of course is also unacceptable as it triggers capital gain taxes, trading frictions/fees, and misses potential market moves.

Thank you very much.

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Dear InvestEngine, the issue of in-specie transfers-out does seem to be causing concern for a number of people.
You may well find a greater willingness to stay if people feel they could leave more easily (at least for their whole shares).

A comment about developing a fix was made by you last March.
In Specie Transfer out comment

I have since heard back from support via email.

“I’m afraid there is no ETA for introducing this feature at the moment.”

This contradicts the post linked above. My frustration on the topic is growing. Being locked in this way is totally ridiculous, any serious broker would offer in specie transfers, and all the big names indeed do offer this.

my opinion of getting around this issue is as follows, it assumes we want to avoid CGT and time out of the market and it will work with what the investor classes as ‘spare cash’ to invest and it assumes our yearly ISA allowance is utilised, it may not work for every case but i think it will help as it works for me.
example i use is a single ETF.

buy and fund etf of choice ‘xyz’ in GIA in a portfolio of 1 funds (as isa allowance is full)

buy etf of choice ‘xyz’ at 95% and etf ‘abc’ at 5% in a portfolio of 2 funds a few months before selling single ‘xyz’

both portfolios are different and time out of the market is solved
hope that may help people.