A choice of portfolios
You can choose from three product portfolios to suit the needs of individual clients and maximise tax advantages. Your clients can hold unwrapped investments in the Investment Portfolio, ISA investments in the ISA Portfolio and pension assets in the Pension Portfolio - a full self-invested personal pension (SIPP).
Your clients can also take a range of post-retirement benefits including income drawdown and phased drawdown.
A wide range of investment options
With over 1,700 collective investment funds, equities, structured products and exchange traded funds to choose from, the Aviva Wrap has something for everyone. What's more, 80% of our equities, structured products and funds have no initial fund management charge and the majority of our funds offer a discount of up to 50% off their standard annual management charge. This is paid as a rebate into the customers cash account.
Clear charging
The wrap has a clear and transparent charging structure with the cost of portfolios, investments and advice all clearly disclosed. This means your clients understand what they're paying for. We have also recently reduced the annual management charge for nearly all of our Aviva insured funds from 0.4% to 0.2% for all our new and existing clients.
Efficient client management
With the Aviva Wrap's easy to use client management tools, you can significantly cut the amount of time spent on admin.
Comprehensive planning tools
The Aviva Wrap offers a range of tools to help with your planning, both pre and post-sale. For example you can
- compile reports on your clients
- research funds
- create illustrations
- analyse investment performance.
Complete re-registration flexibility
We don't charge you anything to re-register your client's assets on or off the platform. Plus we're actively supporting an industry initiative to develop an automated solution to re-registration.
|
Investment Portfolio |
ISA Portfolio |
Pension Portfolio Pre-retirement* | |
|---|---|---|---|
| Minimum initial contribution or transfer | £1,000 |
£1,000 | £1,000 |
| Maximum initial contribution or transfer | No maximum | £10,680 per tax year (2011/12) | Subject to HM Revenue & Customs (HMRC) limits |
| Minimum regular contributions | £50 | £50 | £50 |
| Maximum regular contributions | No maximum | £10,680 per tax year (2011/12) | Subject to HMRC limits |
| Minimum additional lump sum | £1,000 | £1,000 per tax year | £1,000 |
| Maximum additional lump sum | No maximum | Subject to HMRC limits | Subject to HMRC limits |
| Minimum regular withdrawal | £50 | £50 | N/A |
| Minimum encashment | £500 | £500 | N/A |
| Minimum fund switch | No minimum | No minimum | No minimum |
| Minimum transfer between product portfolios | £1,000 | £1,000 | N/A |
| Minimum account balance | £250 | £250 | £250 |
| Minimum fund balance per fund | £50 | £50 | £50 |
*Pre-retirement covers those investments which have not been crystallised.
The minimum investment in a structured product is set by the structured product provider. Please see the providers literature for details.
| Pension Portfolio Post-Retirement** | |
|---|---|
| Minimum account balance |
When income drawdown first starts, the balance in the pre-retirement account must be no less than £50,000 before taking tax free cash. If the value of your post-retirement account decreases to less than £15,000 we may ask you to purchase an annuity. |
|
Minimum initial transfer in (if no other money in plan) |
£37,500 (or £50,000 before Pension Commencement Lump Sum (PCLS) |
|
Minimum initial transfer in (if minimum account balance reached) |
£10,000 |
|
Initial contribution to income drawdown (phased) |
No minimum initial crystallisation |
|
Subsequent contribution to income drawdown (single and phased) |
No minimum |
|
Maximum initial contribution or transfer |
No maximum |
|
Minimum regular contributions |
N/A |
|
Maximum regular contributions |
N/A |
|
Minimum additional transfer in of crystallised funds |
£1,000 |
|
Maximum additional lump sum or transfer |
N/A |
|
Minimum regular withdrawal |
Subject to GAD limits |
|
Minimum encashment |
N/A |
|
Minimum fund switch amount |
No minimum |
|
Maximum fund switch amount |
No maximum |
|
Minimum transfer between product portfolios |
N/A |
| Minimum fund balance per fund |
|
|
Initial contribution to income drawdown (single) |
The initial contribution into income drawdown must be £10,000. |
|
Subsequent contribution to income drawdown (single and phased) |
No minimum |
**Post-retirement covers those investments which have been crystallised known as Drawdown Pension.
Important Information
From 6 April 2011 new rules relating to the age at which you can take benefits from your pension fund came into force. New rules on income drawdown also came into force on this date.
We're updating this information as quickly as we can but to make sure you've all the information you need, please view our 'Important changes that could affect you' (pdf)
|
Type of charge |
Detail | ||||||||||||||||||||||||||||||||
|
Annual Management Charges |
Fund Size Pension Portfolio Investment Portfolio From To £0 £49,999 0.50% 0.25% 0.25% £50,000 £199,999 0.45% 0.25% 0.25% £200,000 £349,999 0.40% 0.25% 0.25% £350,000 £449,999 0.30% 0.25% 0.25% £450,000 + 0.20% 0.25% 0.25% · The charges apply to new clients registering for an Aviva Wrap account. · The charges are applicable for the lifetime of the Aviva Wrap account (although charges could be changed in certain limited circumstances in the future – in accordance with the Aviva Wrap Terms and Conditions). | ||||||||||||||||||||||||||||||||
|
Fund Manager Charges |
Varies depending on funds selected. Most funds have discounted Initial and Annual Management charges. | ||||||||||||||||||||||||||||||||
|
Equity Dealing Charges |
Equity dealing charges vary depending on the size of the deal: · up to £15,000 – flat dealing charge of £25 · £15,001 to £30,000 – flat dealing charge of £35 · above £30,000 – flat dealing charge of £50. There is also a charge of £10 per type or class of share for transferring shares in or out. | ||||||||||||||||||||||||||||||||
|
Commercial Property Charges |
Clients investing in commercial property through the Aviva Wrap Pension Portfolio will have to pay an additional charge. For up to date information about this charge, please go to www.suffolklife.co.uk/aviva | ||||||||||||||||||||||||||||||||
|
Adviser Charges |
The Aviva Wrap gives you a wide and flexible choice of charging options: · you can agree an initial charge of anywhere between 0% and 10% (in 0.01% increments) on all of the payments your client makes onto the platform. We deduct the charge from your client’s portfolio on a one-for-one basis from the client premium (after any tax relief). · you can also charge your clients between 0% and 10% (in 0.1% increments) for the ongoing financial management of their portfolios. This charge is deducted from their portfolio each month. | ||||||||||||||||||||||||||||||||
|
Structured Products |
· The structured product providers literature shows details of the charges which will apply to the specific structured product plan. · The structured product is also subject to the Aviva Annual Management Charge | ||||||||||||||||||||||||||||||||
Please refer to the Aviva Wrap Charges and Investment limits document for full information on charges.
| Designed for clients who |
Not designed for clients who |
|---|---|
|
Aviva Wrap could be suitable if your clients are interested in:
|
Aviva Wrap is less suitable for your clients who:
|
| Key considerations | Possible alternatives |
|
|
