Moving your Investments
Whether you are currently using another platform, are registered with a financial adviser / broker or hold investments directly with a fund manager - moving to the Cavendish Online FundSupermarket can help you reduce your annual charges.
Cavendish Online do not charge a fee for moving accounts to us, neither do we charge an exit fee if you subsequently decide to move your account away from us.
In addition there are no switching fees, no annual fees and no initial charges for our clients. Please click here for a summary of the charges that you may pay while holding an account with Cavendish Online.
How to move to us?
- If you already have an account with Fidelity that you would like to move to us click here
- If you would like to move any Investments, ISAs or Cash ISAs to us that are not on the Fidelity platform click here
- If you already have an account with us and would like to move other Investments, ISAs or Cash ISAs to us then click here
If you need more information please email us at firstname.lastname@example.org.
We have answered some frequently asked questions below but if you need any further information or clarifcation please contact us on the email address shown above.
How can I move my investments?
Transfer or Re-registration:
If you have an ISA account you will be able to either Re-register or ISA Transfer these to us.
If you have a non-ISA/Investment/General Investment Account you will be able to Re-register to us.
Re-registraton - if the funds that you are looking to move to us are available on our platform these will be moved 'in-specie' and you will not be 'out of the market' while your account is moved.
ISA Transfer - your existing ISA account will be cashed in and the proceeds, which will remain within the ISA tax wrapper, will be transferred to us. You will be able to specify which fund(s) you wish the proceeds to be invested in on the ISA Transfer paperwork.
For more details please click here
Change of Agency:
If you currently use Fidelity / FundsNetwork either directly or through another adviser or broker then you will be able to move under the Cavendish Online agency to lower your charges and, if you are moving from another adviser, receive a 100% rebate of the trail commission. For more details please click here
What are the advantages of moving to the platform?
Cavendish Online has agreed an exclusive deal with FundsNetwork™ to power the Cavendish Online FundSupermarket which will offer our customers the cheapest route to buy and manage their investments. Cavendish Online customers will now benefit from:
- NO initial charges on all 3,100 funds
- NO annual fees
- NO exit fees
- NO switching fees
This deal allows Cavendish Online to continue to offer the best route to buy your investments.
What are the charges?
All new investments to the Cavendish Online FundSupermarket (powered by FundsNetwork™) will have three explicit charges applied:
- A fund manager charge (sometimes called the AMC). This charge will vary according to the fund you wish to buy. As a guide fund charges vary between 0.06% and 0.85% with most at 0.75%. Tracker funds start from 0.06%. Please click here to identify a specific fund charge.
- A platform charge of 0.20%.
Reduced to 0.15% on the entire balance if you have more than £200,000 in your ISA, Investment (*) or Pension accounts.
- A Cavendish Online ongoing fee of 0.05%.
* Please click here for more information on how a Sole or Joint Investment account affects the reduced platform charge.
How long will it take to move my investments?
Cavendish Online will process any paper application and forward them to FundsNetwork on the day of receipt.
This will depend on how long it takes your existing company to release the funds.
The total time taken to process these applications is 2-4 weeks on average.
The average turnaround for re-registrations onto the platform can vary.
This process has only been available for ISAs since January 2013 and although the time this takes has decreased considerably (and continues to do so) the current average is 2-6 weeks.
Change of Agency:
This process usually only takes a few days to complete.
Which funds and products are available on the platform?
The Cavendish Online FundSupermarket is powered by FundsNetwork and therefore we give clients access to any funds, ETP's and Investment Trusts that are on the FundsNetwork platform.
Direct access to shares is currently not available on the platform.
To see all the available funds please visit our Fund Research section
What online access will I have once I join the platform?
You will have 24/7 account access online and on your mobile.
You can also switch funds for free and sell investments through Account Management.
Transacting online is easy. You simply select the account you wish to deal upon and then specify whether you wish to buy, sell or switch.
You can also manage your monthly payments online, if you save regularly.
You can increase, decrease, cancel or temporarily put payments on pause by selecting ‘Manage Monthly Saving Plan’ within Account Management.
You can use the Portfolio Analysis tool to get in-depth analysis of your investments by asset type, industry sector and geographic region.
How will Cavendish Online earn an income?
Cavendish Online will received a 0.05% Ongoing Fee which is equivalent to £10.00 per annum for an ISA valued at £20,000 (2017/18 annual limit).
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 be covered up to a maximum of £50,000 per customer per investment company under the Financial Services Compensation Scheme (FSCS) rules. (http://www.fscs.org.uk)
Am I able to move a Junior ISA to Cavendish Online?
No, unfortunately we currently cannot accept re-registrations or transfers for Junior ISAs.
Once the holder becomes 18 years old the Junior ISA will become a Stocks & Shares ISA and both re-registrations and transfers will be accepted.
Will there be any exit charges if I decide to leave?
There will be no charges if you decide to transfer away from our platform in the future.
For more information on exit charges please click here