Quite simply NISA
Today we launched a new ISA (NISA) which allows clients to take advantage of the full flexibility introduced under the new ISA legislation, which was introduced earlier in the year.
Available through the Modular iPlan, our ISA allows stocks and shares, a range of cash products* and over 3,000 funds permitted for ISA investments in our Investment Centre to be held in one ISA account. We believe the ability to do all of that within a single ISA wrapper will enable clients to manage their investment portfolios more efficiently.
In addition to our core SIPP product, our ISA can be set up on-line with the option to use digital signature and on-line switching for funds in the Investment Centre is free.
The integrated fund range is available at the extremely competitive rate of just 0.18% p.a. for cases above £195,000, this gradually reduces to 0.05% p.a. for assets above £1m.
Despite the changes introduced by the regulator under the new CASS rules earlier in the year which made it more difficult to offer cash products via ISAs, we’re pleased that we have managed to include cash options for the launch of our ISA, whereas the bulk of our competitors merely offer access to their standard bank account.
We’ll continue to chip away at the long-standing, market-wide issue of lack of access to cash on platforms and will be adding further cash options in the near future.
* Metro Bank 1 Month fixed term deposit at 0.80% AER. Investec Bank Instant Access Account 0.40% AER.