General questions about our investment service

The investments that sit within our portfolios may include:
• Collective investment vehicles
• Unit trusts
• Open Ended Investment Companies (OEICs)
• Fixed Interest Securities
• Cash
These are non-complex investment products. Our investment managers are free to select whichever mix are best suited to meet your risk grade. Full details of those selected for you are provided part way through this service in your Investment Management Proposal.
This service helps you by providing just the right amount of advice to match your investment objectives to a risk level that is selected by asking you questions about your risk tolerance (your personal acceptance of risk), and your risk capacity (your financial ability to bear loss).
You will be guided through a process that gathers relevant details about your investment amounts and timeframe, and then a process to assess what risk level is right for your investment. Next, we will provide you with a comprehensive investment management proposal that outlines the investment portfolio that we are proposing to build for you based upon what we have assessed to be the right risk level for you. Naturally we will also ensure that we provide guidance on how to best use your ISA allowances at this stage.
If you wish to proceed and set up an ISA or General Investment account (GIA) to establish your portfolio, you can do so online. At this stage we will need to ask you some personal questions about your financial situation and after investing we will provide you with a full suitability report confirming the parameters of this service and why it is right for you.
Yes, within this service we will make a ‘Personal Recommendation’ based on the information that you provide us, so it’s crucial that you answer all questions honestly. We go to great lengths to target your portfolio to perform within risk parameters that are right for you. This is quite different to many services on offer that provide an unadvised ‘execution only’ service.
This service offers a discretionary investment service, supported by an adviser. The automated process is designed to provide advice of a restricted nature based on restricted information provided by you, it is NOT a full advisory service. An adviser, however, is on hand to answer any questions you may have – just call us if you need help at any point.
Once you have taken the decision to invest, the investment management team makes decisions to buy and sell investments on your behalf in line with the risk grade you have selected. You do not have to give your consent for every transaction; instead, you agree that the investment management team will take responsibility for your investments when you accept the Terms and Conditions. In these terms, there is a commitment and promise to manage your account with skill, care and in accordance with the information you provide.
Most online services do not provide advice based upon your personal circumstances. They are known as ‘execution only’ services. You therefore carry the risk of investing in funds that do not perform within your tolerance for risk and potentially expose you to losses that you do not have the capacity to accept. Also, if you get it wrong you have no form of redress. We go to great lengths to make a suitable recommendation for you and our advice is covered under the Financial Ombudsman service.
Yes, we will ask you a number of questions and provide suggestions on how you can make best use of this year’s allowances.
We don’t currently offer pensions.
If you already have a pension or if you are looking to plan for your retirement.
There are significant tax advantages because you obtain favourable tax treatment on the pension investments and contributions similar to those applying to an ISA. If you do not need access to your money until you retire (or at a minimum of 55 years of age) you may wish to consider your retirement options before taking out an investment.
Under our ISA and GIA terms you have 14 days in which to cancel from the date we receive your completed application. If you cancel your ISA within 14 days of us receiving your application you will be able to invest in another ISA. Provided you are still in the same tax year, you will bear any shortfall on the investment should your investments have fallen in value during the cancellation period. Please note that if you decide to cancel your investment during the cancellation period you will bear any shortfall your investment may have suffered due to market conditions.
Making your payment is easy. You can either do it online via our secure payment service or simply send us a cheque.
There is no restriction on the sum you are permitted to invest, however the amount that can be allocated to an ISA cannot exceed the permitted annual limit applying in the tax you invest. We aim to offer truly diversified portfolios. You can add more money whenever you like.
No. Investing is a long-term proposition, but you can withdraw at any time and there’s no minimum investment period. We would suggest you do not invest in the stock market unless you have a timeframe of at least 3 to 5 years.
Our services are available to UK residents only. This means as long as you are a UK resident for tax purposes you are eligible to invest with us. Unfortunately, our services are unavailable to American citizens (even those with dual nationality) due to the US government’s tax reporting requirements.
We are keen to ensure you understand the commitment you are making before you invest. We therefore provide a personalised investment proposal part way through the process to outline the parameters, potential volatility characteristics and expected return from your investment. You are free to print it off and read it at your leisure. This is provided free of charge.
Yes, you are free to review your portfolio online at any time, but we will remind you annually. We will check your risk level is still appropriate and suggest any changes if required. In addition we will ask you some simple questions to ensure nothing has happened in your life that would benefit from further advice.
ExpertISA have a strict complaints policy to resolve any issues quickly and efficiently. If you have a complaint about our services or products, please send a letter to Compliance Department, ExpertISA, 22 Hartfield Road Forest Row East Sussex RH18 5DY
If you are dissatisfied with how we have dealt with your complaint and meet the FCA criteria, you will be able to refer your complaint against us to the Financial Services Ombudsman Service. The Financial Ombudsman, South Quay Plaza, 183 Marsh Wall, London E14 9SR. We will let you know when and how you can do this.
This website is provided solely for private retail clients, for their personal use to access financial information with a view to placing business. It may not be used by any other third party or commercial organisation without prior express written consent from us.
All information contained on the site is for general information use and will make a personal recommendation based on the information entered. Before making any investment choice clients should always take adequate steps to verify the accuracy and completeness of any information.

Withdrawing your money

You can close your account and withdraw money whenever you decide. Please remember, however, that you may not get back the full amount you invested.
It’s your money, and you can request all or part of it back at any time. Withdrawals are free. After we close your account, we hold your personal information for a time as required by law. You should always remember however that the value of investments can go down as well as up, and consequently it may not always be possible to receive back the full amount originally invested. The sum available to you in the event of surrendering your investment will be dictated by value of the underlying assets making up your portfolio at the time we process your instruction to surrender.
Yes, you may at any time set up an income from your investment. This may be in the form of a natural income yield from your portfolio or a fixed amount at regular intervals.
You can take money out of your ISA whenever you want. You should remember, however, that when you withdraw money from your ISA, part of the allowance remains used. This means, for example, that if you reach the ISA limit and then make a withdrawal, the money cannot be put back in.
After your money has been invested, you can access part or all of your money at any time. Withdrawals are free. If you do need to withdraw money, please note this can take up to 10 working days.
However, you should remember that the value of investments can go down as well as up, and consequently you may not receive back the full amount originally invested. The sum available to you in the event of surrendering your investment will depend on the value of your investment at the time we process your instruction to withdraw.
In addition, if you need to withdraw money from an ISA, it may mean that part of the allowance will remain unused. This means that if you reach the ISA limit and then make a withdrawal, the money cannot be put back in.
Please note that any investment should be viewed for the medium to long term, by which we mean a period of at least 3-5 years.

How your investment will be managed

After extensive due-diligence, we selected Parmenion to provide investment and administration services. Parmenion is an award winning independent and privately-owned investment and technology company backed by some of the most experienced technology, investment and fund management professionals in the industry.
Nothing in life is without risk. We choose to take additional risk only if we believe we will be rewarded for doing so. Investing is no different. Your target investment return is the financial reward you hope to achieve for accepting a degree of investment risk. Sadly, it is a fact of life that if you want high returns you will need to accept a greater risk of loss. So by understanding how much risk you have the tolerance and capacity to accept, we can build a portfolio that targets the maximum return for you.
Put simply, investment risk is a measure of how much uncertainty there is about the return an investment may deliver. The more risk you take, the wider the range of potential outcomes. Taking additional risk can therefore lead to higher or lower actual returns than you would otherwise have achieved. Your ability and willingness to accept risk will determine the range of assets suitable for your investment. Understanding the risk associated with your investments is crucial. If you are not comfortable with – or do not understand – the risk you’re taking, you should not invest.
Is there such a thing as a safe investment?
Inflation risk is a hidden threat to any investment, and while you could be lulled into a false sense of security as your bank balance quietly accrues interest, there’s a possibility that in ‘real’ terms you could be losing money. That’s because the rising cost of living means £100 will buy you less in ten years’ time than it does today. So, for your investments to be truly safe, you need to make sure they’re earning more than the rate of inflation.
There are techniques to manage risk. The most common is asset allocation, or diversification, as it is sometimes referred to.
This involves investing in different types of investments so that different parts of your portfolio react differently to market-moving events. This reduces the negative impact of the worst performing asset classes. As with all things, this benefit comes at a cost – it also reduces the positive impact from the best performing asset classes.
Deciding which assets are right for you can be challenging because the investment universe is vast.
We use respected academic theory to build portfolios tailored to investors’ requirements. These solutions provide what we feel is the optimum mix of assets to deliver the highest possible return for the level of risk you are willing and able to accept.
Each month our investment managers review each of the underlying funds in their investment universe to assess their suitability for continued inclusion within your portfolio. Where a fund is no longer meeting our criteria, we will replace it with one more suitable.
In addition we will periodically rebalance your portfolio to ensure it remains true to your risk profile throughout the year.
If your situation or your goals change you can conduct a review online at any time. We recommend that you do this at least annually in any event as this will allow you to alter the level of risk your funds are exposed to or the amount of money you contribute to them. You have complete control over how much money you have invested with us. We will reconfirm our understanding of the changes in your circumstances, and, if appropriate, suggest changes in your risk grade dependent on your changing circumstances, to keep your investments on track with your risk level.
Online access to your account is available at any time 24 hours a day, 7 days a week, allowing you to see online valuations of your investments. We do not issue contract notes for individual underlying trades, these will be detailed on your six monthly valuation report available in your online account. We will notify you when this is generated. You may also request to have your six monthly valuation report every three months.

ISA and GIA accounts

Every year the government gives you a tax-free allowance in the form of an Individual Savings Account (ISA). There are two main sorts of ISA – a Cash ISA and a Stocks and Shares ISA. Our online investment service offers only Stocks and Shares ISAs. An individual can only contribute money to one Stocks and Shares ISA and one Cash ISA in each tax year. If the investments held within your ISA make a profit, you are exempt from capital gains tax. You also receive preferential tax treatment on dividends and interest.
A General Investment Account or GIA is a form of investment account that can be used to hold investments directly. It is often used as a feeder account for an ISA although unlike an ISA, it does not attract favourable tax treatment.
For a Stocks and Shares ISA: You must be 18 years or older. You must be a UK resident for tax purposes.
The amount you can invest in an ISA is set by the government every year. In the current tax year 2015/16, you can put up to £15,240 in your ISA.
You can put the whole allowance into either a stocks and shares ISA or a cash ISA.
You can invest more than the annual ISA allowance into your investment account, however any amount above the ISA allowance will not be sheltered from tax.
Please bear in mind that a stocks and shares ISA may not be right for everyone and that tax rules may change in the future. If you are unsure if an ISA is the right choice for you, please speak to an adviser.
We will take you through a set of questions that will allow you to:

• Put your full ISA allowance into your Stocks and Shares ISA with this service.
Any excess contributions will be invested in our General Investment Accounts.
If you have already invested in an ISA elsewhere this tax year, we suggest that you review your ISA contributions before the end of the tax year to ensure you maximise any unused allowance.
If you do not use your entire ISA allowance elsewhere in this tax year, you can review this decision online and transfer the remaining amount before the tax year end.
We are happy to accept transfers into the service (such as transfer of an existing ISA). Due to the limitations of this being an online advice process we are NOT able to make recommendations on which assets you should sell or transfer. This will be solely down to your discretion. If you are unsure, please contact us.
Yes. Any ISA transfers will continue to be sheltered from tax.
Whilst every care has been taken to ensure that you are provided with the most suitable tax efficient way of investing (such as ensuring your ISA allowance for the current tax year is fully utilised), it is important to note that the we do not take into account your personal taxation position or any capital gains tax liabilities or allowances you may have. It’s also important to note that, as this is a discretionary managed service, all transactions undertaken on your behalf to maintain the volatility and return characteristics of your portfolio are carried out without prior reference to you; and personal taxation situations are NOT taken into account when making purchases and disposals within your portfolio which could give rise to capital gains.

Fees

Our charge for this service is made up of two elements:
• An initial charge for the service you receive when establishing your plan; and
• An ongoing charge to ensure your portfolio remains on track in future
The exact charges will depend on your investment amount and risk grade. These will be given in your personalised investment management proposal and agreed online before you invest. Once you have agreed these charges they will be confirmed in your Suitability Letter.