SELF INVEST SERVICE FAQ

Transcription

1 SELF INVEST SERVICE FAQ JULY 2015 LOGGING ONTO THE CLIENT PLATFORM HOW DO I VIEW MY ACCOUNT ONLINE? When you first open an account with 7IM we will send you a Welcome Letter with your user name and password. You will need to login to your account within the first 30 days to complete your security questions and set a 5 digit PIN. Please note that you choose your own PIN; we do not issue this to you. If you need any assistance in viewing certain aspects of your account please call us on the number below or have a look at the FAQs on our public website. WHAT DO I DO IF I HAVE FORGOTTEN MY USERNAME/ACCOUNT NUMBER, PASSWORD OR PIN? Please contact us on or information@7im.co.uk and we will arrange for a new password to be sent to you in the post. We do not send new passwords by for security purposes. WHAT ARE MY LOGIN DETAILS TO ACCESS 7IMAGINE? 7IMagine is our mobile app available to download from both Google Play and the App Store just search for 7IMagine. Once downloaded you can log in using the same details as you have for the client portfolio log in but you must have logged in to the website first. OPENING AN ACCOUNT/ADDING ACCOUNTS HOW WILL YOU VERIFY MY IDENTITY? When you apply to open an account with us we will attempt to verify your identity using an electronic system, if this is successful you will not need to send us any documents. If we are unable to verify your identity electronically we will contact you about the documents we need. If you have a SSAS/Corporate/Trust or Charity account please refer to additional documentation below. YOU NEED AN ORIGINAL DOCUMENT WHAT DO I DO? Where possible, when sending personal documents such as passports, we would encourage you to send us certified copies* in the post. If you cannot do this, or we need an original document, we suggest sending documents by registered mail. If you are local and would prefer to drop off documents personally you can leave them with building reception clearly marked for Seven Investment Management LLP. *7IM will accept documents certified by the following: Accountant, Barrister, Solicitor, Bank or Building Society Official, Commissioner of Oaths/Notary Public and FCA registered individual. The certifications must be wet ink signatures and must contain I certify this is a true copy, True certified copy or Certified, original seen. The certifier must include: Signature, Date of Certification and Printed name of certifier. HOW DO I ADD MONIES TO MY ACCOUNT? Monies can be received either by cheque or electronically. If you would like to send your monies electronically confirmation of the bank details will be on your Welcome Letter. WHO DO I MAKE CHEQUES PAYABLE TO? Please make cheques payable to Pershing Securities Ltd and send them to the address below. However if you wish to place a Fixed Term Deposit please make cheques payable to Seven Investment Management LLP. WHERE CAN I ACCESS YOUR ACCOUNT OPENING FORMS? Please contact us and we will be more than happy to post or a copy of the required forms to you, or you can find them online at WHERE DO I SEND THE FORMS ONCE COMPLETED? Please return any documents to our address at the Self Invest Team, Seven Investment Management, 125 Old Broad Street, London, EC2N 1AR. HOW DO I SET UP A GENERAL INVESTMENT ACCOUNT (GIA)/ISA/JOINT/SIPP/TRUST/CORPORATE/

2 CHARITY ACCOUNT? Please contact the Self Invest service team who will be more than happy to assist you in the account opening process and advise which of the following forms would be best. GIA & ISA Account Form Joint Account Opening Form ISA Application Form Pension Account Opening Form Corporate/Trust/SSAS/Charity Account Opening Form WHICH OTHER DOCUMENTS ARE REQUIRED FOR: WHAT ARE SUITABLE IDENTIFICATION DOCUMENTS? If we ask you for any Identification documents one of the following should be provided: Certified copy of a current passport Certified copy of a valid full driving license WHAT ARE SUITABLE ADDRESS VERIFICATION DOCUMENTS? One of the following should be provided: Certified copy of a Bank Statement issued in the last 3 months Certified copy of a Utility Bill issued in the last 3 months (a mobile phone bill is not sufficient) Certified copy of a Council Tax Bill TRUST ACCOUNT? Certified copy of the Trust Deed Identification and Address Verification Documents (as detailed above) for all Trustees. If one of the Trustees is a professional trustee then we will require an authorised signatory list instead of the Identification and Address Verification Documents. Identification and Address Verification Documents (as detailed above) for all beneficiaries CAN I SET UP A DESIGNATED ACCOUNT/BARE TRUST? Yes. Please initially complete a GIA account opening form and specify under section one who the account is to be designated for. Please note you will need to record, with your accountant, that you have set up a Bare Trust and for whom this has been set up. We will require the same documentation as detailed under Trust Account above for setting up a Bare Trust. If you are unsure of how to set up or record that you have set up a Bare Trust please refer to a Financial Adviser, Accountant or Lawyer. If you need further assistance please contact us. WHAT DO I NEED TO SEND TO SET UP A SMALL SELF-ADMINISTERED SCHEME (SSAS) ACCOUNT? Confirmation of scheme s HMRC registration certificate or a print out from the online pension service showing the Pension Scheme Tax Reference (PSTR) If the scheme is not HMRC approved the SSAS should be verified according to its legal status. (Ltd Co., Partnership etc) Certified copy of SSAS Deed document Authorised list of, and ID for, signatories Certified copies of the employer s Certificate of Incorporation CORPORATE ACCOUNT? Certified copy of the company s Certificate of Incorporation Identification and Address Verification Documents (as detailed above) is required for a minimum of 2 directors. Identification and Address Verification (as detailed above) for all signatories and any beneficial owner with a shareholding of 25% or more List of all beneficial owners - we are only required to identify & verify beneficial owners with 25% however we are still required to know who all the beneficial owners are

3 SIGNATORY LIST: A government department, member of staff or official. A government department, member of staff or official. A director, manager or counter staff of a bank or an authorised credit or financial institution. A director, company secretary or manager of an Approved Fiduciary Services Provider. An Embassy, consulate or high commission officer in the country of issue. A qualified lawyer or attorney, registered with the relevant national professional body. A qualified accountant, registered with the relevant national professional body. A notary public, a member of the judiciary, a senior civil servant or a serving police officer. A registered doctor currently employed by the NHS Post Office certification service. CHARITY ACCOUNT? Documentation required would depend on the form of the Charity. For an incorporated entity the documents listed under Corporate Account above would be required plus a certified copy of the incorporation document. For a Charity formed as a trust the documents listed under the Trust Account above would be required. For all types of Charity the beneficiary may not be an exact person but may be a class or people. If it is the latter then we would identify them based on the information provided in the Trust Deed (or equivalent). HOW DO I SUBSCRIBE TO AN ISA? When you set-up your Self Invest GIA we can arrange for a lump sum to be subscribed to your ISA, if requested, or alternatively you can send us monthly contributions. We can arrange for the contributions to be subscribed to your ISA and invested as per your completed Regular Dealing Instruction form. ISA subscriptions are initially paid into your GIA and we then move the monies into your ISA account. WHAT SIPP PROVIDERS CAN I USE? We work with a number of different providers and can be appointed as the investment manager on any SIPP policy where the provider of the SIPP offers this facility. We do have a preferred SIPP provider; DP Pensions Ltd. WHAT FORMS DO I NEED TO OPEN A SIPP? If you already have an active SIPP, it may be possible for 7IM to be appointed as the custodian on your policy; please contact your existing SIPP provider for the correct forms to be completed along with a 7IM Pension account form and return all forms to us at the below address. If you do not already have an active SIPP then you can either: Select a SIPP Provider and complete their application form along with a 7IM Pension account opening form; or Open a DP Pensions SIPP (our preferred SIPP provider). We can send you the relevant account opening forms. Please note that before opening a SIPP we recommend that you seek advice. All forms should be posted to us at the below address. Once received we will liaise with your chosen SIPP provider to establish your SIPP account and transfer your contributions for you to be able to manage. TRANSFERRING EXISTING INVESTMENTS HOW DO I TRANSFER MY EXISTING INVESTMENTS TO MY SELF INVEST ACCOUNT? If your holding is with a third party fund manager please complete an Investment Transfer or ISA Transfer form (depending on the type of account that your assets are held in). If you need any assistance in completing these forms please contact us on this number If you have a share certificate or fund that is registered in your own name that you would like transferring into your 7IM account please contact us and we will provide you with the appropriate transfer form.

4 HOW CAN I TRANSFER A CASH ISA? Please complete an ISA transfer form with the details of your existing ISA account and please specify the branch that your Cash ISA is held with. Tick the cash transfer option and return the form to us at the below address to process the transfer. HOW CAN I TRANSFER A STOCKS & SHARES ISA? Please complete an ISA transfer form with the details of your existing ISA account, tick the full re-registration transfer option and return the form to us at the below address to process the transfer. If you would like to process a partial re-registration of your ISA, please check with you existing ISA provider that they will accept partial transfer requests. If this is possible please complete the ISA Transfer Form and select Partial Transfer Instruction if you have difficulty please contact the Self Invest Team. HOW CAN I TRANSFER MY PORTFOLIO OF EXISTING INVESTMENTS TO MY SELF INVEST ACCOUNT? Please complete an Investment or ISA transfer form with details of whom the account is with, your account number and how you wish the assets to be re-registered i.e. as cash or stock. If you have funds registered in your own name or share certificates please contact us and we will provide you with the appropriate forms to complete. WILL I BE NOTIFIED ONCE MY TRANSFER HAS COMPLETED? Yes you will receive a confirmation letter once your transfer has been fully processed. Please note if you are transferring your assets as cash this could take up to 2 to 3 weeks to transfer depending on where the assets are coming from. If you are transferring your assets as stock the transfer could take between 6 to 8 weeks to process depending on the assets being transferred. PLACING TRADES HOW DO I PLACE A PURCHASE/SALE INSTRUCTION? Please either complete a Dealing Instruction form or call us and we will take your trade instruction over the phone once we have been through the security process. In the near future you will be able to execute trades online yourself. CAN I CANCEL A TRADE IF PLACED IN ERROR? We can attempt to cancel a trade that you no longer wish to place, however this is on a best endeavours basis. We cannot guarantee your trade will be successfully cancelled. HOW DO I SWITCH FROM ONE FUND INTO ANOTHER FUND? Please either complete a Dealing Instruction form with your sale and purchase instruction or call us and we will take your trade instruction over the phone once we have been through the security process. The type of assets you are selling and purchasing will dictate whether or not we can place the trades on the same day. If the sale takes 5 working days to settle and the purchase only 3 working days to settle, we will have to wait at least 2 days before placing your purchase instruction to ensure these are in line with each other. In the near future you will be able to execute trades online yourself. HOW DO I REQUEST A SHARE CLASS CONVERSION? Please call or write to us with the details of the security including quantity, name and amount that you wish to be converted and to which share class. Please contact the Self Invest Team for further information. WHEN CAN I EXPECT THE TRADE TO SETTLE? This will depend upon the asset that you are selling or purchasing. You will receive a contract note in the post once the trade is placed which will state the date that the trade will settle. Equities usually settle within 3 working days and funds will settle between 5 to 10 working days depending on the type of fund being traded. Contract notes are also displayed on the website via your secure login. HOW MUCH WILL I BE CHARGED TO PLACE A TRADE? There will be no additional Dealing charges when you instruct a trade to be executed. Please refer to our Fees and Charges sheet or contact us if you would like to discuss the fees further.

5 TYPES OF INVESTMENT HOW DO I KNOW WHAT TO INVEST IN? This is a difficult question as the answer will be different for everyone. Before making any investments we advise you speak to a Financial Adviser is a free consultation website to find independent financial advisers. WHICH INVESTMENTS ARE AVAILABLE FOR ME TO PURCHASE? You are able to purchase any ISA eligible security within any account type. Please contact us if you are unsure if the security meets the ISA eligibility criteria and we will be happy to check for you. If you complete an instruction form and we are unable to execute the trade we will securely contact you as quickly as possible. CAN I REQUEST THE INCOME GENERATED FROM MY PORTFOLIO TO BE SENT TO ME? Yes. We can arrange for any dividend payments that accumulate on your account to be paid into your nominated bank if requested. Please write to us with the details of when you would like these monies to be paid and how frequently. WHAT IS A FIXED TERM DEPOSIT? A Fixed Term Deposit is a deposit account where you can put cash on deposit for a fixed period of time and earn a fixed rate of interest for that period. Interest rates can vary between institutions, we currently have a 1 month (consisting of 28 days) Fixed Term Deposit with Cater Allen which requires a minimum deposit amount of 50,000. Please contact us for further details. CAN I TAKE OUT A LOAN? If you have more than 100,000 in your portfolio at 7IM you may be able to take a loan of up to 50,000 depending on the securities held within your portfolio. A loan cannot be taken out against a SIPP investment. Please contact us if you would like further details. WHERE IS MY STOCK HELD? Pershing Securities Ltd. provide settlement, safe custody, nominee and associated services, entered into through us as your agent. All stock is held on your behalf by Pershing Securities Ltd., either in their physical possession or in the name of their Nominee Company, Pershing Nominees Ltd. With a Nominee account, your holdings are held in a Nominee Company name, or an associated Nominee Company or one appointed by us, with all administration handled by the Nominee Company on your behalf. A nominee account is available to individuals, joint applicants, Limited Companies, Partnerships, Pension funds/trusts/charities, Clubs/ Unincorporated Bodies and Overseas Residents. Pershing Securities Limited is a wholly owned subsidiary of Bank of New York Mellon Corporation. 7IM FUNDS: HOW SAFE ARE THE 7IM FUNDS? As with other investments the value of the investment can go down as well as up. All of the 7IM Fund assets are held at the depositary which is Nortern Trust Global Services Limited. GENERAL What are the fees? Please refer to the Fees and Charges sheet located on our website here in the Account Opening Pack. How do I pay the fees? On a monthly basis we will look to take any fees due based on the average daily value of the account from uninvested cash in your portfolio. If you have an ISA account and would prefer us to take fees from your GIA (to ensure the ISA limit is not wasted) please provide written instruction to do this. However if there is insufficient cash in your account to meet these fees, or no other means to pay, we will then look to sell part of your largest holding, unless otherwise instructed, to raise 3 months worth of projected fees.

6 REPORTS WHAT REPORTS WILL I RECEIVE? You will receive a valuation with all the transactions for the period in each of your accounts every 6 months for the periods 1st October until 5th April and 6th April to 30th September. If you would like to receive these reports quarterly please contact us. WHEN WILL I RECEIVE THEM? Your reports will be available within 10 working days of the end of each reporting period. You can find the report in the My Documents section of the secure client website. If we have your address on file we will send you an to let you know as soon as the report is available. WILL I RECEIVE CONTRACT NOTES? Yes. You will receive contract notes in the post, if you do not wish to receive contract notes please write to us and we can amend your account settings. You can also view your contract notes online via the Client Platform. WHAT IF I DON T RECEIVE MY REPORT? If you do not receive a report and you are expecting one please contact us and we can arrange for a copy to be sent to you. OTHERS HOW DO I REGISTER A COMPLAINT? In the first instance please call us with the matter and we will try and resolve this as quickly as possible. If you are unsatisfied with the response please set your complaint out in full in writing and we will investigate the complaint. Our Complaints Procedure can be located under the Regulatory/Legal Section on our website. HOW DO I NOTIFY YOU OF A CHANGE OF PERSONAL DETAILS? To make any changes to personal details we need to receive written instructions signed by all the parties concerned. Please write to us with any changes you wish to make to your name, address, contact details and/or bank details and we will update our records and confirm accordingly. Seven Investment Management LLP is authorised and regulated by the Financial Conduct Authority. Member of the London Stock Exchange. Registered office: 125 Old Broad Street, London. EC2N 1AR. Registered in England and Wales No. OC