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ISA Transfer,Time Taken ? - Platform or Direct
Aletank
Posted: 20 March 2018 13:56:52(UTC)
#1

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Hi - I'm currently invested 100% in Fundsmith direct, I know it's not ideal even though my money is spread between 28 shares.
I've been thinking about splitting this to spread the risk, funds I've been looking at are Scottish Mortgage IT & may maybe Lindsell Train Global Equity.
First of all does anyone know how long a ISA would take to transfer & how long I would be out of the market for ?
I was thinking of going direct to Baillie Gifford for SMIT but then started to think about LTGE as well !
I have a SIPP with Cavendish so if I was going to use a platform it would probably be Cavendish, I could then swop funds / balance my portfolio easier.
I'm looking to stay invested for at least another 10 years before using it to drawdown a early retirement income. I currently have a £200 a month DD going into Fundsmith and do top up a couple of times a year.
Thanks for your thoughts !
lee wood
Posted: 20 March 2018 17:37:09(UTC)
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If youve got time on your side are you not better just sitting it out with Terry? im about 75% in Fundsmith and even though there will be times of under performance with the fund im not sure cashing in and spreading it around is such a good idea for me as like you ive got a time frame of about 10 years. As Buffett and Smith say its all about time in the market rather than timing the market
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Aletank on 21/03/2018(UTC)
lee wood
Posted: 20 March 2018 17:38:21(UTC)
#3

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PS most platforms let you Bed and Isa which basically means selling your shares/funds and buying back in your ISA
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Aletank on 21/03/2018(UTC)
Aminatidi
Posted: 20 March 2018 17:40:24(UTC)
#4

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I'm in all three of those.

Depending on amounts and how often you plan on purchasing you may want to look at a fixed fee option.
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Aletank on 21/03/2018(UTC)
Dennis .
Posted: 20 March 2018 23:57:12(UTC)
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I am a big fan of Fundsmith and my wife and I have over £300k invested. This represents about 60% of our portfolio. Some is in Fundsmith ISAs Direct and some with HL ISAs. However two comments.

1. Getting money out of Fundsmith direct is a bit laborious as you have to write to them and it has taken up to two weeks. For this reason I keep about 50% of my holding via HL, it costs me I know but I can get my money out so much faster or move it around if I want to diversify part of my holding.

2. You need a bit of diversity away from the US stocks that Fundsmith is concentrated in so I have a sizeable holding in Lindsell Train Global Equity, Marlborough special sits and a few others..

Fundsmith has been brilliant for the last five years but I sometimes get concerned that it's too good to be true (remember Madoff?) and the first three months of this year are looking a bit flaky. The recent issues with Facebook (which is now in Fundsmith) might be the beginnings of a decline in the same way that Neil Woodford has developed a habit of picking losers.so think eggs and baskets.
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Aletank on 21/03/2018(UTC)
Alan Selwood
Posted: 21 March 2018 00:44:14(UTC)
#8

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Last year I moved a bit out of Fundsmith (held directly in an ISA) by transfer to an existing A J Bell ISA, and by giving the instruction to go into cash and transfer that, the process was quite quick and painless.
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Aletank on 21/03/2018(UTC)
lee wood
Posted: 21 March 2018 07:08:25(UTC)
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Dennis .;59062 wrote:
I am a big fan of Fundsmith and my wife and I have over £300k invested. This represents about 60% of our portfolio. Some is in Fundsmith ISAs Direct and some with HL ISAs. However two comments.

1. Getting money out of Fundsmith direct is a bit laborious as you have to write to them and it has taken up to two weeks. For this reason I keep about 50% of my holding via HL, it costs me I know but I can get my money out so much faster or move it around if I want to diversify part of my holding.

2. You need a bit of diversity away from the US stocks that Fundsmith is concentrated in so I have a sizeable holding in Lindsell Train Global Equity, Marlborough special sits and a few others..

Fundsmith has been brilliant for the last five years but I sometimes get concerned that it's too good to be true (remember Madoff?) and the first three months of this year are looking a bit flaky. The recent issues with Facebook (which is now in Fundsmith) might be the beginnings of a decline in the same way that Neil Woodford has developed a habit of picking losers.so think eggs and baskets.


Dennis there is an auto settlement on the Fundsmith website. If you fill the form in and provide your bank account details you can press a button to sell and it automatically goes into your nominated bank account in a day or two. It's quick easy and painless to set up. There's also a facility for you to downtown a specified amount every month by filling in a similar form
lee wood
Posted: 21 March 2018 07:10:14(UTC)
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lee wood;59067 wrote:
Dennis .;59062 wrote:
I am a big fan of Fundsmith and my wife and I have over £300k invested. This represents about 60% of our portfolio. Some is in Fundsmith ISAs Direct and some with HL ISAs. However two comments.

1. Getting money out of Fundsmith direct is a bit laborious as you have to write to them and it has taken up to two weeks. For this reason I keep about 50% of my holding via HL, it costs me I know but I can get my money out so much faster or move it around if I want to diversify part of my holding.

2. You need a bit of diversity away from the US stocks that Fundsmith is concentrated in so I have a sizeable holding in Lindsell Train Global Equity, Marlborough special sits and a few others..

Fundsmith has been brilliant for the last five years but I sometimes get concerned that it's too good to be true (remember Madoff?) and the first three months of this year are looking a bit flaky. The recent issues with Facebook (which is now in Fundsmith) might be the beginnings of a decline in the same way that Neil Woodford has developed a habit of picking losers.so think eggs and baskets.


Dennis there is an auto settlement on the Fundsmith website. If you fill the form in and provide your bank account details you can press a button to sell and it automatically goes into your nominated bank account in a day or two. It's quick easy and painless to set up. There's also a facility for you to downtown a specified amount every month by filling in a similar form


*Drawdown, bloody predictive texting start a war it will apologies
Alan Selwood
Posted: 21 March 2018 11:12:59(UTC)
#9

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My phone drives me nuts with its attempts to do predictive text by changing what I have already typed correctly to some gibberish that it thinks is more relevant!
(Trying to type SOME of the words in French or Italian really screws it up!!!).

[End of off-topic rant]
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lee wood on 21/03/2018(UTC)
Aletank
Posted: 21 March 2018 21:38:13(UTC)
#10

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Thanks for the replies !
I've sent a couple of emails & had a couple of replies.
Cavendish says I could transfer my direct Fundsmith to their platform and then split to what funds i wanted, this would avoid any time out of the market.
Baillie gifford says I may be out of the market for up to a week with a transfer to them.
I'm thinking of keeping my current holding in Fundsmith & setting up a new ISA next tax year with Baillie Gifford to direct my £200 a month and any new funds into SMIT.
1 user thanked Aletank for this post.
lee wood on 21/03/2018(UTC)
D Bergman
Posted: 22 March 2018 16:53:43(UTC)
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I too have a large proportion of my savings in Fundsmith, and also have holdings in SMT & LT Global.
However, there is a substantial overlap between Fundsmith and LT Global, so would caution against just moving funds between the two. If you want greater diversity in your savings, it might be more logical to look at different sectors of the global or UK markets; thinking of funds such as Marlborough UK Micro Cap or Schroder Small Cap Discovery (mostly Asian small companies)
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Aletank on 22/03/2018(UTC)
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