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Should I transfer 'as cash' or 'as stock'?

There are two types of transfers you can make to the HL service: a stock transfer or a cash transfer. With a stock transfer your existing manager will transfer your holdings to us as they are (remaining invested). Please note when transferring as stock you will typically be unable to sell your holdings during the process, for example if you wish to protect yourself from falls or realise any gains.

With a cash transfer, your investments will be sold and the cash will be transferred to us. If you transfer as cash you are out of the market while your transfer takes place. This may work in your favour if the market falls, but if it rises you will not benefit from any growth while you hold cash.

Whether you transfer as stock or cash any ISA wrappers will be maintained.

You should check whether your existing provider levies any transfer charges before transferring.

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