Consolidate your financial arrangements and simplify your life
The custodian we use is Abbey National Wrap Managers Ltd, who are owned by Abbey National, one of the largest financial services companies in the UK. The Abbey National ‘Wrap’ account is designed to provide the customer with a consolidated investment portfolio which can be efficiently managed across a variety of different financial products and tax groups. Because the Abbey ‘Wrap’ account is purely an administration facility, the customer is free to invest in any permitted investment rather than be restricted to only those funds offered by a single insurance or investment management company. The Wrap account provides investors with 5 key benefits:
1. Ease of administration across all financial products and tax groups.
2. Consolidated portfolio valuations`available on line.
3. Discounted investment transaction charges.
4. Competitive annual management charges.
5. Access to restricted Asset Class funds.
Abbey National Wrap Manager’s charges are deducted monthly in arrears from your ‘Wrap’ portfolio’s Cash Account as follows:
Overall Wrap Portfolio valuation (excluding the cash in the Bank Account and any Product Bank Accounts and the value of any SIPP property)
Annualised
First £250,000
0.50%
Next £250,000 to £500,000
0.40%
Next £500,000 to £750,000
0.30%
Next £750,000 to £1million
0.20%
Balance in excess of £1 million
0.10%
For further information on the ‘Wrap’ account, please refer to the information booklet issued by Abbey National Wrap Managers Ltd entitled ‘Wrap and Investment Portfolio Client Guide’.
