Combining your investments

Benefits of combining your investments

Saga Investments, provided jointly by HUB Financial Solutions Limited and Hubwise Securities Limited, makes it easy for you to transfer the cash value of investments you have with other providers - whether that’s ISAs, other general investment accounts or both. Combining your investments can provide a number of benefits.

Get a clear view of all your investments

Having all your investments in the same place enables you to keep a clear view of everything. This makes it much easier to monitor your investments to make sure they stay on track, and reduces paperwork.

Make sure your investments are working hard to support your future goals

The Saga Investments products offer a choice of three ready-made investment portfolios, each with a different investment objective and level of risk. This allows you to choose the portfolio that best matches your own aims and views on risk. 

By holding your investments in an appropriate investment portfolio, you can make sure they’re all working hard for your future goals – whatever you’re investing for. 

A wide spread of assets to manage investment risk

You may be worried about putting all your eggs in one basket. 

The Saga Investments products offer ‘multi-asset model portfolios’, which means your money can be invested in different types of assets like cash, bonds and company shares (or ‘equities’), across UK and international markets. This wide spread of assets helps diversify the investment risk while giving your money the opportunity to grow over the medium to long term (at least five years). 

Before transferring, it’s important to think about how you’ll be changing the spread of your existing investments by transferring to Saga Investments. You may already have a well-diversified range of investments, so consider whether it’s worth switching to get the benefits of having everything in one place. 

If you need additional support on the decision to transfer this is not the right service for you. 

And remember, the value of all investments and any income received from them can fall as well as rise. This means you may not get back the amount you invested.

You could save on fees when everything's in one place.

Bringing all your investments together could help you save money. 

But it’s important to compare how much you’re paying with your existing investment provider(s) before transferring your investments across. 

When doing this, make sure you check your existing investments for exit fees or other penalties. And ensure you’re not missing out on any investment benefits or bonuses by transferring.

Transferring existing ISAs

When you transfer monies from previous tax years from your existing ISA(s) to the Saga Stocks & Shares ISA, it won’t count towards your annual ISA allowance. That means you can still save up to £20,000 of new money into your ISA each tax year. If you are transferring an ISA from another provider - you can transfer a partial amount, or the whole amount, but any money you have paid into it in the current tax year will still count toward your £20,000 annual allowance.

Tax benefits from ISAs are set by the Government, and may change in the future.

Things to bear in mind

• When you’re transferring investments you hold elsewhere, your existing provider will sell your investments and transfer the proceeds as cash to be reinvested. It’s not possible to say exactly how long you will be out of the market. This depends partly on the provider you’re transferring from. Your money  will be invested within five working days once it’s received by Hubwise. So if it takes your provider five working days to sell your investments and transfer the cash, your money will not be invested for up to 10 working days in total. Depending on market movements, the cost of investing in the new funds will have changed up or down during this time.
• If you’re transferring money from an ISA into the Saga Stocks & Shares ISA, there will be no tax to pay. However, if you’re transferring other investments held outside an ISA, you will make investment gains or losses. Depending on the size of these gains or losses, and any other investments you’ve sold elsewhere, this may mean you need to pay Capital Gains Tax (depending on your personal circumstances). You are currently able to make £3,000 in gains across all of your investments and on the sale of other assets, each tax year before you pay CGT. This allowance is subject to change by the UK Government.
• Please remember we can’t provide advice on investment decisions. If you need additional support to find out whether it would be appropriate to transfer existing investments, this may not be the right service for you.
• The information provided on this website should not be taken as a recommendation, advice or forecast. Tax depends on your personal tax position. Tax rules are subject to change by the UK Government.
• Combining your investments with a single provider may reduce your protection under the Financial Services Compensation Scheme (FSCS) compared to holding your investments with multiple providers. The FSCS does not cover losses for poor investment performance - the nature of investments means their value can go down as well as up. More information about this can be found in the Saga Investments Terms & Conditions and on the FSCS website.

Hubwise Securities Limited (FRN 502619) is authorised and regulated by the Financial Conduct Authority, is an ISA Plan Manager (HMRC ISA Plan Manager Z1723) and a Member of the London Stock Exchange.