Should you move your investments?
Over time, you may feel your current wealth manager isn’t providing the level of service you need and consider whether to move your investments elsewhere. Perhaps their advice doesn’t feel personal, your investments aren’t performing well enough, or you aren’t getting value for money.
Although switching investment companies may seem daunting, we’ll be careful to make the process as smooth as possible, ensuring any investment transfers have a minimal impact on your portfolio.
At Canaccord Wealth, your confidence is important to us, so we work hard to earn it. Everything we do revolves around building a personal relationship – whether it’s being proactive in getting in touch with you, keeping up with all the ways your finances can work harder, or being transparent about our fees and investment process.
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Learn moreCommon questions on switching investment companies
Changing your wealth manager can be straightforward, especially if you have the support of your new wealth manager throughout the transfer. Concerns about cost, time, and paperwork may make you think you’re better off staying put, but changing your wealth manager could be far easier than you think.
When you transfer your investments to us, we’ll handle everything we can for you, including evaluating the potential costs and tax implications.
You should consider changing your wealth manager if you’re not convinced you’re getting real value from your current relationship. Staying with a wealth manager who doesn’t give you the advice and expertise you need may jeopardise your financial future.
Reasons why it might be time for a change include poor investment performance, inadequate or inappropriate financial advice and lacklustre service.
Switching investment companies doesn’t have to be costly – staying put may cost more in the long run. Consider the potential value of better investment performance and advice.
The cost of changing wealth manager will depend on your portfolio’s complexity, but high exit fees are now rare. Choose us and we’ll handle much of the process, ensuring a smooth, cost- and tax-efficient transition.
There are two ways to transfer investments:
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’s 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.
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.
- You may have fees to pay. It’s worth discussing this with your Investment Manager, to check that moving your investments makes financial sense.
- You may incur capital gains tax if you sell investments. We can help you compare the potential costs of moving in-specie or selling your investments, to find out which is 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 recommend receiving independent wealth planning advice before deciding how to move forward.
It’s also important to note that if your previous wealth manager has gone into liquidation, there’s a possibility you could lose anything you borrowed against your portfolio.
