Looking to transfer my ISA and SIPP into different Robo platform - any advice?

Hi I have a general investment account, an ISA and a SIPP in the Evestor platform and have decided I would like to transfer it to another Robo platform possibly AJ Bell. However I’m not confident in the GIA area and although AJ Bell give you portfolio suggestions apparently it’s down to you to manage and make any rebalancing of these yourself. Any advice would be helpful. The charges look a lot more reasonable which is why I would like to transfer over. I’m a cautious investor looking to move £80,000. Thank you, Carol

Hi Carol

The first thing to bear in mind when changing platforms with a General Investment Account is potential Capital Gains made when selling assets if it is done as a cash transfer. You have a Capital Gains allowance of £12,300 per tax year; any gains over this become taxable. If Capital Gains are an issue, you may be able to transfer the investments as is (in-specie) to Aj Bell. Your existing Evestor platform should be able to tell you what gains you have made so far on your investments; Capital Gains tax does not apply to ISA or SIPP accounts.

Secondly, you have highlighted AJ Bell as a potential platform to transfer your assets to. Other platforms are available that offer different support along the investment journey as well as different features. As you have mentioned AJ Bell I will focus on them, but it may be worthwhile having a look at the Boring Money research on other platforms.

You have quite a few options for investment with AJ Bell:

1. You can use their pre-built portfolios and allow them to manage rebalances for you.
2. You can use their pre-built portfolio and then manage it yourself.
3. You can use their list of researched funds to build your own portfolio.

Once you have decided on the level of management you want AJ Bell then help by filtering the portfolios by Attitude to Risk. For example, they define their Managed Cautious portfolio as being “right for you if want to give your money a chance to grow faster than it would in a savings account – but your main priority is avoiding loss.”

At this point you can read more about the portfolio and its construction before deciding to open any accounts.

For more information it is worthwhile reading through the AJ Bell investment ideas webpage

By necessity, this briefing can only provide a short overview and it is essential to seek professional financial advice before applying the contents of this article. This briefing does not constitute advice or a recommendation.