Moving your investments can be a daunting task, and it can be hard to know where to start when looking for a new investment manager. It’s not just about finding the right one for you, but about making sure your stocks and shares are transferred without losing their value. Fortunately, with expert guidance and help from our trusted investment managers, it is easier than you might think.
At Canaccord Genuity Wealth Management (CGWM), we understand the importance of ensuring investment transfers result in minimal impact to your portfolio.
Can I move my investment portfolio?
In short, yes you can! Transferring your investment portfolio, whether it be due to the provider going into liquidation, you’re looking for an alternative service, or simply because you’re dissatisfied with your current investment manager, is entirely possible.
Can I transfer my investments to Canaccord Genuity Wealth Management?
Yes, you can transfer your investments to CGWM, and we will ensure the entire process is as hassle-free as possible.
The process will involve looking at your existing setup, and examining the possible implications of switching providers, including potential fees and taxes that could be incurred. We will also account for any complex investments you may have, to ensure it’s the right decision for you.
Further to this, we will spend time with you to understand what you would like to achieve with your wealth, to allow us to formulate an appropriate plan to transfer your investments into a new portfolio, designed around you and your long-term success.
In the initial stages, we will explore:
- Your goals and intentions for the future
- Your attitude towards risk
- Our plan of how to look after you and your investments
- For those thinking about retirement, or passing on your wealth, we can also go over our financial advice service, and how this could benefit you too.
How will my investments be moved?
There are two ways to transfer investments:
Option one – in-specie
In-specie means moving your investments as they are, without selling your assets. It’s an option that is compulsory for all providers to offer.
Nevertheless, you need to be aware that certain assets cannot be transferred directly in-specie. It is also possible for some assets to take longer to be released. Your newly chosen investment manager can offer you advice on any more complex investments you might have, and how these can be managed.
Option two - selling your investments
Option two involves liquidating your investments into cash, which can then be moved over and reinvested. When reinvesting your wealth, your new investment manager can repurchase the same assets you had before, or alternatively build a completely new portfolio based on your financial objectives, if they believe you could benefit from some restructuring to stay on track with your goals.
Moving investment companies – what should I be aware of?
- You may have fees to pay – it’s worth discussing this with your investment manager, to ensure that moving your investments makes financial sense
- You may incur capital gains tax if you sell investments – we can compare the in-specie fees to the liabilities of selling your investments to establish the best option for you
- The value of your investments may not stay the same – markets move every day, and your investments risk changing in value during a transfer
- Transferring a pension is more complex – we would therefore recommend seeking independent wealth planning advice before deciding how to proceed.
Please note, if your previous wealth manager has gone into liquidation, there is a possibility that you could lose anything you borrowed against your portfolio.
