Our regular investment service allows you to:
|invest via our SIPP, ISA, Junior ISA or GIA on a monthly basis using our Funds & Shares Service.|
|invest without incurring dealing charges in our regular investment funds universe, any FTSE 350 share, selected ETFs, ETCs and investment trusts.|
If you want to make regular investments on behalf of your clients, our regular investment service makes the process as simple as possible by automatically buying the investments on the same day every month.
Cash transfer facility
We make regular investments on the 10th calendar day of each month (or the next working day). This means that there must be sufficient cash in the Funds & Shares Service dealing account at this time to cover all transactions.
There are various ways that you can transfer cash to the Funds & Shares Service dealing account. If the regular investment is for our SIPP, you can set up an automatic cash transfer or sweep funds from the SIPP cash account to the Funds & Shares Service dealing account. You can do this by either:
- emailing your instruction to firstname.lastname@example.org
- completing a ‘regular investment service cash transfer instruction’. This form is available within the ‘Literature’ section of our website.
Please note that, for our SIPP, the regular investment service is only available for clients who use our Funds & Shares Service option only, or who choose the Funds & Shares Service option in conjunction with another investment option.
How does our SIPP cash transfer facility work?
The minimum that must be left in the SIPP cash account is £250, but you can decide to set this at a higher amount when you give us any instruction. Please note that, if your client is in drawdown, the minimum to be left in the SIPP cash account must also cover this payment.
In your instruction, you can also tell us the month when you want the cash transfer to start – it will take place on the 7th calendar day of the chosen month (or the next available working day). For the cash transfer to take place on the 7th calendar day of the month, we must receive your instruction by the last working day of the previous month.
On the 7th calendar day of the month (or the next available working day), we will ‘sweep’ any cash above the minimum level agreed to the SIPP Funds & Shares Service dealing account. For example, if the minimum you have set to be left in the SIPP cash account is £500 and there is £1,100 available on the 7th, we will transfer £600 to the Funds & Shares Service dealing account.
By making the transfer on the 7th calendar day of the month, the cash will be available in the Funds & Shares Service dealing account for the 10th calendar day of the month – when we process all regular investment orders.
If there is no cash available to sweep on the 7th calendar day, then we will try again on the subsequent days.
For our ISA, Junior ISA or GIA, the easiest way to fund the Funds & Shares Service dealing account is to set up a Direct Debit instruction. Once you have logged into Sippcentre and selected the client, click on ‘Regular subscription’ or ‘Regular payment’ and follow the online process. Alternatively, PDFs of the Direct Debit instructions are available from the ‘Literature’ section of the website.
How do you set up the regular investment service for your clients?
Once your client account is established, by carrying out a few simple steps you can set up a regular investment on their behalf. For full details, please refer to our regular investment user guide.
Is there anything else you should consider?
- For a SIPP, our regular investment service is available to clients who use the Funds & Shares Service option only, or who choose the Funds & Shares Service option in conjunction with another investment option.
- You should read the terms and conditions and the key features of the product receiving the regular investments before you make any decision on behalf of your client.
- Regular investments can only be made monthly.
- Only you, the adviser, can make regular investments on your client’s behalf.
- The date for all regular investments is fixed. We deal on the 10th calendar day (or the next working day) of each month. You are able to amend any regular investment instructions up until midnight on the day before the regular investment dealing day.
- You must make sure that you have enough cash in your clients’ Funds & Shares Service dealing accounts to pay for regular investments. If, on a ‘regular investment day’, there isn’t enough cash in the account, we will not be able to process the deals. We will then try to place the regular investment order on the 10th calendar day (or the next working day) of the next month. If we are unable to place the regular investment order, we will inform you by secure message.
- If you want to use our cash transfer facility (i.e. we automatically move cash from the SIPP cash account to the SIPP Funds & Shares Service dealing account) then you must set up and manage this facility in line with the process detailed above.
- The minimum you can regularly invest is just £25 a month per individual investment instruction.