Transferring your existing investments to Smarterly gets everything in one place, makes it easy to switch into one of the diversified portfolios from our comparison tables, and gives you free Smartercare to help keep an eye on your investments.
Many of the most popular providers (eg Hargreaves Lansdown and Fidelity) support easy transfers (known as TeX). This means that all you need to provide is your account number and we can look after the rest. You can check if your provider supports easy transfers by just typing in their name.
We make no charge for transferring investments. However, it is possible that your existing provider may apply a charge.
Transferring an ISA or Junior ISA does not affect its tax benefits. Provided its done via our transfer process, it doesn't count as "cashing in" the ISA so all future income and gains will still be tax free.
Transferring a general investment may create a capital gains tax liability. General investments can usually be transferred "in specie" (ie the title is transferred without cashing in the investment) which means no capital gain is realised. However, if they are cashed in and then the proceeds are re-invested, this may create a capital gain.
All transfers require you to sign an authorisation form. We'll fill this in for you for you, so you just need to sign and return it. The transfer then typically takes a few weeks from when the form is received.
Direct debits cannot be transferred across automatically. Your existing direct debit will be cancelled, the investment will be transferred, and you then need to set up the direct debit again. (Sorry, we know this is a pain and are working to make this easier.)
The whole process can take a few weeks. Here is how it works step by step: