Thanks, Nayna 🙂

Thanks, Rachel. I would need a very good reason for doing that. I guess if I thought I could get a better return for my money elsewhere, I would consider it. I’d have to be very confident it was a good idea though.

It’s worth bearing in mind that – depending on the platforms concerned – there may be costs involved in withdrawing money and reinvesting it elsewhere. There is also likely to be a period when the money is between platforms, so not actually working for you. You also need to be careful not to lose the tax benefits of an ISA, for example. If you withdraw money from an ISA you have contributed to in the current tax year, you are not then allowed to reinvest it in a different company ISA in the same year. Or to put it another way, you are only allowed to invest in one of each type of ISA in any one tax year.

For all these reasons (and more) I don’t recommend switching too often between investment platforms. Thanks for an interesting question, though!