How to Consolidate Your ISAs: A UK Cleanup Guide
Five ISAs across five platforms isn't diversification. It's admin debt - overlapping funds, fee bloat, and rebalancing decisions you never make. The cleanup is simpler than you think.
Hidden US weighting from overlapping global funds
Stacking 'global' funds rarely adds diversification. It usually adds US weight.
Key takeaways
Multiple ISAs in the same year became legal in April 2024, but having five accounts is still account bloat, not diversification
Always use an ISA transfer initiated by the receiving provider - never withdraw and re-deposit, which costs you the allowance
The cleanup playbook: list every account, pick one or two destination platforms, transfer in-specie where possible, then sell the overlapping holdings
Don't consolidate workplace pensions, defined benefit schemes, or Lifetime ISAs without checking what you would lose first