Royal London, the UK’s largest mutual life, pensions and investment provider, has launched a new stocks and shares ISA available to new customers through financial advisers, and to existing workplace and individual pension customers either through their adviser or via a direct application.
The Royal London Stocks and Shares ISA will offer the same investment choices as its pension products, including access to the multi-asset Governed Range, with a 16-year track record of delivering value and successful investment outcomes, managed by Royal London Asset Management.2
The ISA will be competitively priced, with Workplace Pension customers paying the same as their competitive scheme charge, when invested in Royal London managed funds. All other customers will benefit from a tiered annual management charge, meaning that as the value of their ISA grows, the overall management charge reduces – offering even greater value for money over time.
Bespoke digital journeys have been designed to make applying for the Royal London Stocks and Shares ISA quick and straightforward. Once set up, customers can easily manage their ISA through our streamlined online service. These optimised digital experiences simplify day-to-day processes, offering instant quotes and applications and real-time updates. For advisers, the platform acts as a one-stop-shop, providing easy access to Royal London’s suite of digital tools, to efficiently manage clients’ pension and ISA savings online.
Advisers can also rely on Royal London’s award-winning service, backed by a team of specialists offering technical expertise. This support will allow advisers the time to focus on delivering good outcomes and building financial resilience for their clients.
Recent research3 carried out by Royal London found that more than a quarter (26%) of consumers who’d opened a stocks and shares ISA did so following a recommendation from an adviser, while almost a fifth (19%) of those who had transferred a stocks and shares ISA were prompted by adviser support. These findings reinforce the trust consumers place in advisers’ expertise and their ability to take a holistic view of financial planning, adding value and simplifying the process of selecting the right options to meeting their longer-term savings goals.
Jo Kite, chief customer officer at Royal London said:
“With growing interest in ISA savings options, now is a crucial time for Royal London to bring our new Stocks and Shares ISA to market to complement our award-winning pension offering. As the UK’s largest mutual investment provider, we’re proud to expand our savings offering with an ISA that gives customers access to a diverse range of investment options, including our flagship Governed Range.
“We have carefully structured our ISA to include a transparent and competitive single charge for clients with combined pension and ISA savings, and our tiered annual management charge adds further value, reducing fees as both ISA and pension savings grow. Alongside this, we’ve built a quick and easy digital application and seamless online management experiences. And when we do well, our ISA customers will share in our success through ProfitShare – earlier this year we paid out £181m of our profits to eligible customers.”
