Parmenion announces it has transformed its leading ISA product into a Flexi ISA to give advisers and their clients more ways to use ISAs as a tax-efficient financial planning tool.
The existing Parmenion ISA allows clients to hold their investment solutions, within a tax-efficient wrapper. It already has functionality such as Auto-Bed & ISA which automatically uses a client’s ISA allowance by selling investments in their General Investment Account to top it up.
With our upgrade to the Flexi ISA, advisers on the Parmenion platform benefit from:
- more flexibility – withdrawals from the Parmenion ISA can be replaced in the same tax year, without affecting their clients annual allowance;
- no charges for withdrawals;
- automatic changeover – no need to do anything if you already have clients in a Parmenion ISA.
Any withdrawals from 23 August 2023 will be counted as flexible withdrawals for the 2023/24 tax year.
Parmenion Head of Product, Dan Edwards said: “The launch of our new Flexi ISA is part of a rolling programme of changes and upgrades we are implementing, designed to make it even easier for advisers to efficiently manage their clients’ wealth and retirement needs. We have listened carefully to feedback from advisers and have prioritised developments which would really make a difference to their clients. We have also involved advisers in our product development along the way, to ensure our users are truly at the heart of our design process and how we deliver our finished products.”
Edwards continued: “We are also seeing an increase in ISAs being utilised as a key financial planning tool for retirement, offering tax efficient investing in a flexible wrapper. In launching the new Flexi ISA – we are keen to make it as easy as possible to use this tool to its greatest potential and anticipate advisers using our platform will find this new Flexi ISA matches the changing needs of their clients.”
This year Parmenion has continued to roll out new features as part of its commitment to make it easier for advisers to help their clients. So far in 2023 it has added model portfolios from several leading wealth managers to its adviser proposition in the past year, as well as adding new tools and functionality to its platform such as FINIO data reporting. Parmenion plans to unveil more new features and product changes over the coming months.