Shepherds Friendly has teamed up with Financial Risk Solutions (FRS) to expand its Individual Savings Account (ISA) range to include a new unit-linked Stocks and Shares ISA.
The mutual society has offered its Investment ISA since 2008, a with-profits product aimed at smoothing market fluctuations and paying regular bonuses. The new Stocks and Shares ISA, which gives members the choice of five funds with varying levels of risk, represents Shepherds Friendly’s first move into unit-linked ISAs.
The product was developed in partnership with FRS, a leading provider of investment administration software to financial services firms. The Dublin-headquartered company’s InvestPro technology will facilitate all trades for Shepherds Friendly’s Stocks and Shares ISA.
The Manchester-based mutual society made the decision to expand its ISA offering after undertaking market research of consumers, including members and those in its target audience. It then designed the product with their feedback in mind, to ensure it met their needs.
As with the Investment ISA, Royal London Asset Management (RLAM) actively manages the Stocks and Shares ISA, which has a flat annual management charge of 0.75%.
Max Jarrold, Chief Growth Officer at Shepherds Friendly, said: “The Stocks and Shares ISA expands our product offering to ensure we’re meeting the needs of a wider range of investors.
“We believe stocks and shares ISAs represent a significant growth opportunity given the popularity of ISAs among consumers. With better financial education and changes to ISA legislation, we expect higher adoption of stocks and shares ISAs in future.
“Working with a company as experienced as FRS has allowed us to create a product that aligns with both our member-first values and our commitment to providing exceptional service.”
Frank Carr, Director at FRS, commented: “We are very happy to welcome Shepherds Friendly to our valued client base. We are looking forward to a successful and long relationship where Shepherds Friendly benefits from a widely used system. This partnership underscores Shepherds Friendly’s innovation and ongoing commitment to leveraging technology to offer members value and increase the product offering.”
About Shepherds Friendly
Founded in 1826 and based in Greater Manchester, Shepherds Friendly is a modern mutual known for its easy-to-manage ISAs, investments, life insurance and income protection plans. Providing award-winning products for life’s many milestones, it is dedicated to putting members first.
Achieving the Defaqto Gold Service Rating for seven years running, Shepherds Friendly offers outstanding service and comprehensive support to intermediary advisers.
