Easy, cost effective transfers for your clients' ISA investments
Cofunds makes the process of investing in ISAs quick and easy. With just one point of contact, you can select and mix funds from multiple providers. Once an ISA is opened, it’s easy to switch investments from fund to fund, as well as top up your clients' investment from as little as £500 per fund provided you keep within the ISA limits. You will be charged 0.25% for each switch transaction.
From 6 April 2011 the ISA allowance will increase to £10,680.
The Cofunds Cash Reserve facility allows investors to temporarily hold cash within an ISA - a particularly useful option when market conditions are uncertain, or when your client simply wants to secure their ISA allowance for the current tax year until a suitable investment opportunity arises.
Cash held in the cash reserve must be destined for eventual investment. Your client can simply switch out of the cash reserve and into their desired funds at any time. No initial commission is payable on investments into the cash reserve, although trail commission of 0.25% is payable.
Access 'My Trading Terms' within 'My information' to create a personalised fund charge schedule with tailored terms for your portfolios.
There are three ways that clients can transfer in their existing ISAs:
Re-registration enables simple fund transfers without the need to sell and buy back the holdings. This avoids any initial charges and any potential risks from being out of the market. It's ideal for clients who wish to retain their existing funds.
Cash transfers are ideal for clients who wish to take the opportunity to select different funds during their transfer to Cofunds (e.g. portfolio re-balancing), or who hold funds that are not available for re-registration.
The majority of fund groups on the platform have the flexibility to offer specific discounts on initial charges for cash transfers, with many offering cash transfers at no initial charge, provided you rebate initial commission.
Clients are able to transfer their existing Cash ISA into a Cofunds stocks and shares (UC) ISA. Cofunds will treat this cash in the same way that we would treat a transfer of cash generated from the sale of units in the transfer of a UC ISA. i.e. it will be retained within the ISA wrapper.
Cofunds Limited is authorised and regulated by the Financial Services Authority FSA Registration No 194734.
* Calls may be recorded for training and quality purposes.