Cavendish Online FundSupermarket FAQs
How will Cavendish Online earn an income?
An investor will NOT pay anything directly to Cavendish Online. The only charge that an investor will have to pay is the AMC (Annual Management Charge). Cavendish Online will then rebate all of the natural trail commission to the client. Cavendish will retain a small proportion of the total annual charge, equivalent to £5.64 per annum for an ISA valued at £11,280 (annual limit).
Does Cavendish Online still deal with Cofunds?
Existing clients of Cavendish Online who use the Cofunds platform will be able to continue to invest and manage their portfolio. These customers will have the option to move to their investments from Cofunds to the Cavendish Online FundSupermarket if they wish, but this is by no means compulsory.
New Cavendish Online clients will NOT be able to use the Cofunds platform. However, you will be able to apply directly to a fund manager if your chosen fund is not one of the 1,200 available on the Cavendish Online FundSupermarket. You can also transfer your Cofunds plan to the Cavendish Online FundSupermarket without charge.
How do I move my investments to Cavendish Online to save money?
This will depend on where your investments are held. Whether you are currently using another platform, are registered with a financial adviser / broker, or hold investments directly, moving to Cavendish Online can help you reduce your annual charges.
Please visit our moving your investments section for guidance on these options.
How long does it take to carry out a change of agency, re-registration or transfer?
Cavendish Online will process any paper application and forward them to FundsNetwork on the day of receipt. The average turnaround for re-registrations onto the platform can vary. This process has only been available for ISAs since January 2013 and therefore we are unable to give an average completion time for this process until we have more information. We will update this section soon. In the case of transfers, the timescale will depend on how long it takes your existing company to release the funds. The total time taken to process these applications can be up to 20 working days.
What happens if Cavendish Online or FundsNetwork go out of business?
Neither Cavendish Online nor FundsNetwork will hold your money. The money you invest in a fund will be held by the investment company. However, the assets they manage are separate from the company’s own assets, meaning that if the investment company were to file for bankruptcy your funds would not be affected.
How will Cavendish Online’s service change post-RDR in respect of unbundled charges?
For more information on this please click here
Will there be any exit charges if I decide to leave?
There are not any funds on our platform that would incur an exit charge if you were to move. There will also be no charges if you decided to transfer away from our platform in the future. For more information on exit charges please click here
