Retirement drawdown. We will notify your Adviser if insufficient funds are available to meet fee requirements, as we reserve the right to encash Assets to meet charges. Your Adviser will seek instructions from you, or your DFM will raise the necessary funds on a bespoke basis. If no instructions are received, in the first instance funds will be transferred from income where available and/or the money will be raised from the Portfolio investments on a pro-rata basis and you authorise us to undertake such a sale of Assets in this event. Scheme Bank Account money can also be ring-fenced separately to meet any retirement drawdown you have arranged with your Adviser. During working hours on a Business Day, any money received into your Cash Account, Cash Reserve or Scheme Bank Account which increases the Available Balance sufficiently to enable further investment, will be used for that purpose, before any other type of transaction. Intra-Account Transfers You may instruct us to sell Assets in your GIA and to reinvest the proceeds in your ISA, XXXX and/or SIPP (for a TPPP please refer to their specific T&Cs as this might not be permissible). We are required to wait for the cash proceeds from the sale of any Assets to be received before using them to make a subscription to the receiving Account. The sale of Assets in your GIA will be made proportionately across all Assets held unless we are instructed otherwise. You should be aware that any instruction for an intra-account transfer may give rise to a personal capital gains tax liability. Should the transaction cause the remaining balance in your GIA to fall below the minimum GIA investment balance, we reserve the right to sell the remaining holding and suspend your Account; this position will remain until you make an additional contribution (either one-off or regular) which lifts your GIA balance back above the minimum. This in turn will then automatically reactivate your Account and the available balance will be invested in your chosen Model or in line with your current instructions.
Retirement drawdown. I/We understand that the fee for this service is 1% per annum on the first £500,000 and then 0.5% p.a. on the remainder of the value of your investments, with a minimum fee of £600 p.a. for investment management clients and £1,000 for retirement drawdown clients. This fee is payable monthly in arrears. Actual costs will therefore increase/decrease depending on the fund value.
