Fund switching charges
PruFund range of funds
Clients can switch between funds at any time. Switches out of any PruFund Fund will be subject to a 28 day delay.
There is currently no charge for switching. The minimum value of a client’s PruFund investment that can be switched is £500. If they are not switching the full value of their investment from a particular PruFund Fund, they must leave at least £500 in each fund.
Risk Managed Active/Passive funds
There is currently no charge for switching. Clients can switch all or some of their shares in one fund for shares in another fund in the company at any time. This is subject to any restrictions on the eligibility of investors for a particular share class.
Adviser Charges
There are two main types of Adviser Charges:
- Initial (set-up) adviser charge: agreed between you and your client as a % of initial investment; or a fixed monetary amount.
- Ongoing Adviser Charge: agreed between you and your client as a % of total plan value or a specified monetary amount each year.
Ad hoc Adviser Charges are not available.
Transferring an existing ISA
Clients can transfer any previous tax year’s Cash ISA or Stocks and Shares ISAs from other providers to the Prudential ISA without affecting the current year’s subscription limits (check the HMRC website for current limits). They can invest the transfer amount into the range of funds available.
When considering a transfer, clients should speak to their existing ISA provider about potential charges or penalties.
Prudential ISA online service
This year Prudential introduced a new online service, offering enhanced functionality that’ll make it easier to set up and give advisers more visibility and control of their clients’ investment. Saving time and paper, the new online process means it now takes just 3 minutes, end to end, to submit an application on behalf of clients. For more information, to get signed up and see videos to guide you through the new steps visit pruadviser.co.uk/isaonline.
Key documents available to advisers include:
- The Life Insurance Policy within the Prudential ISA (updated 30/06/2020)
- The Life Insurance Policy within the Prudential ISA – Regular Investment updated 30/06/2020
Adviser guides include:
- A step-by-step guide to the PruFund smoothing process
- Client information data capture form
- Prudential ISA fast facts
- Prudential ISA generic illustration
- Prudential ISA Key Reasons
- PruFund expected growth rates
Client guides include:
- A guide to the Prudential Individual Savings Account (ISA)
- An introduction to the PruFund Range of Funds
- Key Features Document
Click here to view the available documents and guides.
Link Financial documents
Some of the documents for The Prudential ISA, such as application forms, servicing forms and fund information documents, are only available on the Link Financial website.
The value of an investment can go down as well as up, so your clients could get back less than they put in.
For more information about The Prudential ISA click here
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