How to transfer to another provider
Everything you need to know in order to transfer your HL savings and investments
If you want to transfer to another provider you won’t need to contact us, in most cases. Your new provider will contact us on your behalf. We’d be disappointed to see you go though, and if there’s anything we can do to change your mind please get in touch first.
Transferring your HL accounts
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Application
All you need to do is tell your new provider you’d like to transfer and complete any of their forms. They’ll contact us and do the rest. -
Cash or Stock Transfer?
Opted for a stock transfer? After a few days, we’ll check over your application and send a valuation to your new provider. We can also accept this electronically through ‘Altus’ if your new provider supports this. Happy for a cash transfer? We’ll sell for you at this stage. Skip to step 5. -
Valuation
Once we get the go ahead from your new provider, we’ll arrange trade and settlement dates for your equities. We’ll also start talking with your fund managers for any fund transfers. -
The Stock Transfer
Your selected stocks will start to move from your HL account to your new provider. We’ll talk with them and the fund managers so this runs smoothly. After all your stocks have transferred, any residual cash will transfer a few days after. -
The Cash Transfer
If you’ve opted for a cash transfer, once the trades have settled, we’ll organise the payment to your new provider.Confirmation
Your selected stocks and cash have successfully transferred. It can take a few days to finalise your account and we’ll send final confirmation once complete.
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Application
Most providers are able to request transfers electronically. All you need to do is contact your new provider to complete their requirements, let them know whether you want to transfer as cash or stock and they’ll contact us to do the rest.
If they're unable to request the transfer electronically then it will be sent to us by email or post. We may then require you to complete a discharge form and will contact you separately if we do.
If you’re transferring to a Qualified Recognised Overseas Pension Scheme (QROPS), please contact our helpdesk on 0117 980 9926 to discuss your transfer.
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Cash or Stock Transfer?
If we receive a stock transfer request we will follow step 3 next. If we receive a cash transfer request we’ll sell for you at that point and proceed with step 5 next. -
Valuation
Once we get the go ahead from your new provider, we’ll arrange trade and settlement dates for your equities. We’ll also start talking with your fund managers for any fund transfers. -
The Stock Transfer
Your selected stocks will start to move from your HL account to your new provider. We’ll talk with them and the fund managers so this runs smoothly. After all your stocks have transferred, any residual cash will transfer a few days after. -
The Cash Transfer
If you’ve opted for a cash transfer, once the trades have settled, we’ll organise the payment to your new provider. -
Confirmation
Your selected stocks and cash have successfully transferred. It can take a few days to finalise your account and we’ll send final confirmation once complete.
For further information please read our Frequently Asked Questions.
Your transfer checklist
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Are your HL records up to date?
All the personal details we have for you, like your full name and address, need to match those that you give to your new provider. Any mismatch could cause delays.
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Do we have your National Insurance number?
If we need to sell shares as part of your transfer, then we’ll need your National Insurance number (or alternative) as well as confirmation of your nationality.
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Are you happy with your investments?
You’re free to make changes to your investments right up until the point of transfer, but this can cause delays. It’s best to make sure you’re happy with your investments before you begin the transfer.
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Have you taken advice?
Transferring your account is a big decision and one you could regret. If you’d like to talk to an advisor then please contact our advisory service.
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Have you checked that the provider you’re transferring to, and the investments you plan to hold, are authentic?
Unfortunately, investment scams sometimes target people who've withdrawn, or plan to withdraw, money from their pension and other accounts. They can also persuade people to transfer into accounts within which there is an investment scam. These scams tend to involve firms and/or investments which aren’t regulated by the FCA, so if you fall victim to them there may be no compensation available.
Often fraudsters will attempt to make their ‘sales pitch’ as realistic and attractive as possible. They’ll aim to build a rapport with you – sharing fake reviews, using convincing literature and websites or claiming to be regulated. Warning signs can include cold calling or texting, pressure to act quickly, the promise of unique or unusual opportunities or the offer of quick and easy profits. Scammers might also offer free pension reviews and the chance to release money from your pension early. To find out more visit www.fca.org.uk/scamsmart or our security centre.
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Are you up to date on your account fees?
Any outstanding fees will delay your transfer.
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Are your investments due to change in any way?
If your investments change due to a corporate action, unit rebate or delisting then this can also cause a delay to your transfer.