I have just received a letter from JP Morgan saying that they will no longer offer ISA accounts from the end of September 2019. I have an ISA with them split into 3 different Investment Trusts (Claverhouse, Japanese and European Smaller Companies). I seem to have a choice of transferring the ISA to another company "as is" or liquidating and reinvesting. Any thoughts on who to invest with and what to invest in?
As you mention, JP Morgan will soon no longer offer ISA accounts, and they recently reached an agreement to transfer their current ISA clients.
Clients holding their ISAs directly with JP Morgan were typically only allowed to invest in funds run by them, but if they move to another investment platform, they'll be allowed to invest in the whole of the market.
So this may be something you'd like to consider when making your decision.
Unfortunately we can't offer you advice on who to invest with and what to invest in, as this would count as 'regulated' advice - which financial advisers are allowed to offer you. We are not currently regulated by the FCA and so we aren't regulated to give personal financial advice.
It is up to you to decide if you'd like to keep your ISA intact. However do bear in mind that ISAs benefit from tax exemptions, so any profit you currently make from your ISA investment is tax-free.
Hope this helps,
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