January 31st, 2008
Wrap account in specie transfer delays
My in specie transfer another platform is now complete, breathe a sigh of relief! I actually have two wrap accounts, one for investment and one for my super. I decided to move the investment account to a new provider because it offered a boutique fund that I really wanted to invest some money with. The in specie transfer allowed me to move my investments without needing to sell them and buy them back again so no capital gains tax. It took 7 weeks and 3 days though! My adviser assisted me with it all, just meant that I wasn’t able to transact for this period which was frustrating.