My first post… hi all,
So I started my investment journey approx. 2 years ago and I transferred my ISA across to T212 earlier this year. Before I continue I want to make it clear that my experience with T212 has been great and I have absolutely no reason to complain about or leave the platform.
I’ve been quite fortunate to have established some strong positions in a variety of growth stocks (capitalising on the lows caused by the pandemic) and I’ve got a long-term strategy to hold and invest in these positions.
Whilst reading the soon to be updated ISA terms I noticed this:
Currently, T212 does not offer in-specie ISA transfers, meaning they cannot transfer your shares (therefore maintaining your position) and instead, you would need to sell-off your portfolio and transfer the cash value, then re-invest with your new broker (which is like starting from scratch!).
I’ve put a lot of time and effort into establishing my portfolio and it just unsettles me to know that IF I were to exercise my right as a consumer and decide to change platform/broker I’d have to sell-off my entire portfolio in order to do so.
If T212 offered in-specie ISA transfers I’d be at ease but if it’s not introduced soon then I’ll be forced to consider whether I continue with T212 for the 22/23 ISA term and beyond…
I’m concerned that @team212 don’t seem to be addressing this with any urgency. There are posts scattered throughout the forum promising this feature (e.g. there was mention of Q3 2020 by someone from @team212) but I can’t see any signs that it will happen anytime soon (does T212 have a roadmap?).
This is one of those things that could unsettle customers who would otherwise happily stick with T212 for the forseeable future.
Does anyone know if this is being looked in to?
@team212 is there a plan to introduce this feature? if so, when?