These assets are held in “legacy” ISAs, junior ISAs and general investment accounts that are invested in legal and general funds and in which clients remain invested at the time of change. Sipp assets are not included in the transaction. The transaction includes £5.8 billion of assets under management held in Individual Savings Accounts (Isas), Junior ISAs and General Investment Products invested in Legal & General Investment Management (LGIM) funds. Important Information Brochure for FISIM Policyholders No, the management of our personal investment activities has been transferred to Fidelity, which is why we do not accept transfers. You can always contact us if you have any questions about the transfer or if you need details about historical transactions made during your stay as a legal and general client. For your investment(s) with Fidelity, you can contact them on 0800 358 0751. Hollands said selling LGIM books is the latest example of fund managers deciding it might be easier to manage clients directly or manage funds — rather than doing both. Keep in mind that the value of your investment and the income from it can go down as well as up and are not guaranteed. You can get back less than you invest. Tax regulations may change in the future and their tax benefits depend on your personal situation.

“Fund groups are clearly thinking about whether they want to engage directly with end investors and come to different conclusions,” he said. “In recent years, a number of groups have moved their direct client bases to third-party platforms, but conversely, there are also signs that some providers want a vertically integrated approach, with Schroders and M&G expanding wealth management divisions.” Fidelity announced last October that it had bought LGIM`s personal investment arm, which includes nearly 300,000 clients and £5.8 billion in assets under management, to become part of its own personal investment platform D2C. Please note that this helpline is reserved for questions regarding the proposed transfer to Fidelity. If you have any questions other than the proposed transfer, please contact the customer service team as usual (see contact details in your previous correspondence or contact us here. More details about the standard load structure can be found here. Important: If you reside in a country other than one of the countries listed above, we are not authorized to write to you about the transfer of investments to Fidelity. Please contact us to find out if you are one of these customers. One shareholder called L&G`s sale of the retail arm a “disgrace” and complained that L&G had provided little information about the transaction, other than writing that its benefits would be lost. A L&G spokesperson said: “These preferential conditions have always been different and of course depended on whether this business was part of LGIM. Note: Our self-invested personal pension plan (SIPP) and company pension plans have not been transferred to Fidelity.

If you hold one of these investments, they will not be affected by this transfer. Sample Foreign Investor Consent Letter for residents of: Australia, Hong Kong, Singapore and Guernsey. Fidelity said Legal & General`s clients would not pay more in total fees than they currently do. Legal and general clients currently do not pay explicit platform fees, but fees that cover both platform administration and investment management. Legal & General shareholders will lose their investment benefits later this month when the retail business is transferred to Fidelity. The deal will double Fidelity`s personal client base of 280,000 clients, with £20.3 billion in assets under management. Fidelity is one of the UK`s leading investment providers. Clients can invest through a range of accounts, including shares and ISA shares, self-invested personal pension plans (SIPP), investment accounts, and junior ISA and junior SIPP accounts. All at simple and profitable prices. At the time, LGIM said the deal offered clients the “best of Fidelity`s large-scale administration” in addition to “the LGIM investment expertise they have chosen,” while Fidelity promised that clients transferred to its platform would pay the same salary or less than LGIM. If your investments have been transferred to Fidelity, we recommend that you retain all communications we have sent you, as well as your other relevant documents, so that you can refer to changes to your investments in the future.

The acquisition of Cavendish Online will add £900 million in additional assets and 30,000 clients to Fidelity`s client base. David Braithwaite says the change means nothing to account holders unless they want to. “You can continue in the same fund as before,” he says, “but if you don`t regularly look at your funds and actively manage them (most people don`t), it shouldn`t cause you any problem other than a name and stationery change when they send you explanations,” he says. Elizabeth Bickham of L&G adds: “If the reader wants more information in addition to these mailings and details to customers, we ask them to contact customer service or the Fidelity team to discuss their questions and additional questions – they should be in a much better position than we are to make sure your reader gets the details. necessary to support its decision-making. or that the reader turn to a financial advisor to meet their individual advice needs and requirements. The deal follows Fidelity`s acquisition of Cavendish Online earlier this month. Cavendish`s 30,000 clients with £900 million in assets will join Fidelity next month, which has 280,000 clients with £20.3 billion in assets on its platform.