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Cash accounts including interest

Here you’ll find details on our cash facilities, including the current interest rates. These consist of a central Cash Management Account (CMA) and Cash Accounts for each product (ISA, Pension and Investment Account).

All fees are paid from available cash in the first instance. We don’t charge a service fee for holding cash.


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Interest rates

The current interest rates we pay on cash held in our accounts are:

Account Gross rate of annual interest Annual Equivalent Rate (AER)
ISA (including Junior ISA) 3.45% 3.51%
Investment Account 3.45% 3.51%
Cash Management Account 3.45% 3.51%
SIPP (Including Junior SIPP) 3.65% 3.71%

More information on interest payments:
 

  • Interest rates can be changed at any time
  • Interest payments will be made monthly in arrears on or around the 21st of each month and there will be no lower limit on interest paid
  • Interest will not be paid on unsettled cash in accounts
  • Where HMRC requires, the interest will be paid net of basic rate tax. This would be in the case of interest paid into our Investment Accounts and Cash Management Account. Interest in ISAs and Pensions is paid gross.
  • We will initially pay interest to the account on which the interest was accrued, but as part of our treatment of income options, for ISAs and Investment Accounts, you can choose to then have this interest payment moved to the Cash Management Account 
  • We do not charge a service fee for holding cash, but we do retain some interest which reduces our net rate.
Historic interest rates on cash

Cash Management Account

The Cash Management Account (CMA) allows your clients to hold cash outside of product wrappers and offers the following features:

  • Fees and withdrawals can be facilitated for ISAs and Investment Accounts
  • Natural income from account assets can be consolidated into the CMA which can then be withdrawn
  • Cash can be moved between the CMA and an ISA or Investment Account
  • Clients can deposit directly into the CMA themselves.

Clients are provided with a Cash Management Account if they have at least one ISA or Investment Account held solely in their name (the CMA is not available for joint holders).

Product Cash

Cash can also be held within an ISA, Pension and Investment Account as part of the product structure. This is known as Product Cash and is held alongside other assets within the wrapper. Product Cash can be used to fund investments or as a temporary home at times of market volatility when a client wants to sell out of funds or other investments.

Each pension account, including drawdown, has its own cash account and it is used to make all transactions related to the pension.

Frequently asked questions – cash accounts

What charges do you make for holding cash?
How do you manage my clients’ cash?
Is my clients’ cash protected?
Is interest paid on unsettled or ring-fenced cash?
Why is the interest paid on the Pension higher than other products?
Is interest earned on phased cash that has not yet been invested?
What happens to accrued interest on closed accounts?
How is interest applied to trust and corporate accounts?

Frequently asked questions – trading within cash accounts

How is money added to a client’s cash account?
Can money be added to a client’s Cash Management Account through a bank transfer?
How are my client's income payments handled?
How is the cash from a sale handled?
From which account are adviser ongoing fees taken from?
From which account are platform fees taken from?