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Adviser fees from cash

Options for paying fees

  1. Fees are always taken from cash before selling funds within an account. Where there's insufficient cash, you can either nominate a fund or sell from the largest fund (such as unit trusts, open ended investment companies and offshore funds) followed by the Exchange-Traded investment (such as Exchange-Traded Funds, Exchange-Trade Commodities, Investment Trusts, Equities, Gifts and Bonds).
  2. Alternatively, you can select Cash Management Account for fees to be deducted for ISAs and solely-held Investment Accounts

Benefits of taking fees from Cash Management Account for ISAs and Investment Acc

Clients with ISA accounts only By taking fees from the CMA and not the ISA, this will maximise the amount held in the tax-free ISA wrapper.
Clients with sole-named
Investment Accounts only		 Selling assets in an Investment Account could affect your clients' Capital Gains Tax (CGT) position. Therefore, choosing for fees to be taken from the CMA could help to minimise the impact of CGT.
Clients with ISA and sole-named
Investment Accounts		 Choosing for fees for both these accounts to be taken from the CMA could help to maximise the amount held in the tax-free ISA as well as minimise the impact of CGT.
Clients with joint
Investment Accounts		 CMA not available for joint accounts.

What happens if the CMA is depleted or has a zero balance?

Clients with ISA accounts only We will default back to the ISA account. Within the ISA account, we will take fees from any cash available, or where there is insufficient cash, you can nominate one fund, or we’ll sell from the largest fund, and then the largest Exchange-Traded Investment.
Clients with sole-named
Investment Accounts only		 We will default back to the Investment Account. Within the Investment Account, we will take fees from any cash available, or where there is insufficient cash, you can nominate one fund, or we’ll sell from the largest fund, and then the largest Exchange-Traded Investment
Clients with ISA and sole-named
Investment Accounts		 We will default to using the Investment Account. Within the Investment Account, we will take fees from any cash available, or where there is insufficient cash, you can nominate one fund, or we’ll sell from the largest fund, and then the largest Exchange-Traded Investment. Whilst we default to the largest Investment Account, applicable when you have multiple accounts, you have the flexibility to specify which account we use for any shortfall, which may be the ISA account should that be more appropriate. We will then take fees from any cash available, or where there is insufficient cash, you can nominate one fund, or we’ll sell from the largest fund, and then the largest Exchange-Traded Investment.
Clients with joint
Investment Accounts		 Not applicable. Within the joint account, we take fees from any cash available, or where there is insufficient cash, you can nominate one fund, or we’ll sell from the largest fund, and then the largest Exchange-Traded Investment. As stated above, selling investments in an Investment Account could potentially affect your CGT position, so using cash available or nominating a specific fund will help to minimise this.

Useful guide: Client guide to taking fees from Cash Management Account

The Investor Fee deduction hierarchy when using the Cash Management Account

FAQs

How is the Investor Fee collected?
Is interest earned on money held in cash?
Are fees paid on money held in cash?
How can the CMA be topped up?

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