Frequently asked questions
How do I set up an account?
You can set up an ISA, SIPP, Fund & Share Account online using a debit card.
Alternatively, you can send us an application form via the post. Application forms can be downloaded or can be requested from our Helpdesk on 0117 900 9000.
The Vantage ISA and SIPP can also be opened over the telephone with a debit card. To open an ISA call 0117 980 9950. To open a SIPP call 0117 980 9897. Lines are open Mon-Thu 8am-7pm; Fri 8am-6pm; Sat 9.30am-12.30pm. Please have your National Insurance Number to hand. If you already hold ISAs, funds, pensions or shares with other providers it's simple to transfer them into the Vantage Service. Our transfer forms are available online and we will open an account for you as soon as we receive the form.
What are funds?
We usually refer to open ended collective investments as funds. This includes Unit Trusts, OEICs (Open Ended Investment Companies), ICVCs (Investment Company with Variable Capital) and SICAVs (Société d'investissement a capital variable). Funds can invest in a number of asset types including shares, bonds, commodities, property and other funds.
Funds can provide varying levels of diversification by collectively investing the money of individuals in a number of assets such as shares or bonds. Investors may also benefit from scale economies resulting from the size of funds and their ability to spread costs. The majority of funds are actively managed by a fund manager with the aim of outperforming the market or sector the fund is invested in.
Funds are traded using a forward pricing system, what does this mean?
The vast majority of funds price daily (on working days), mostly at midday. The forward pricing system means that when you place a deal it will be traded at the next available valuation point, typically at midday on the next working day. This means that you will not know the exact price that you will buy or sell at when you place the deal.
To check when your funds value please see the valuation point on the key features tab of our fund factsheets.
What is the difference between income and accumulation units?
The class of unit held will affect the way income generated from the fund is treated. With income units, income is paid into your Vantage account as a cash amount. This is then paid out, held on your account or reinvested depending on how you have instructed us to deal with income in your account. With accumulation units income is retained within the fund, although the number of units remains the same the price of each unit increases and hence the value of your holding rises.
How does the initial saving you offer on funds work?
We have negotiated terms with fund management companies which allow us to offer savings on initial charges. The way in which this saving is applied depends on whether the fund is a dual priced Unit Trust or single priced such as an OEIC. More information on how this saving works is detailed in the HL Guide to Fund Prices, Savings and Yields.
What happens to any income (dividends) from my investments within the Vantage service?
Many funds offer you the choice between income and accumulation units. If you choose income units the income you receive will be dealt with as per the income instructions for your Vantage ISA, SIPP or Fund & Share Account.
The Vantage ISA and Fund & Share Account can be set up to treat income in one of three ways. The Vantage SIPP can be set up for reinvestment or deposit only:
- Reinvestment - Any dividends you receive are held in the income account and reinvested once they reach £200 per share holding or £50 per fund holding. There are no charges to reinvest fund dividends and the charge to reinvest shares is 1% (minimum £10, maximum £50). We will do this within 10 working days of the end of each month or as soon as practical thereafter.
- Deposit - Income will be held on your account pending your further investment instructions.
- Pay out an Income - Income will be paid out directly to a nominated bank/building society account. This payment will be made within 10 working days of the end of each month.
The instruction you give will apply to all holdings within that account.
How long will a transfer to a Vantage ISA or fund & Share Account take?
The length of time taken to transfer a holding into the Vantage Service will depend on how quickly your existing manager completes the necessary administration. This varies from manager to manager however on average a transfer of stock (where your existing holdings are brought across as they are) will take approximately 3-4 weeks. A cash transfer (where the existing investment is sold and transferred to us as cash) is likely to take approximately 10 working days. You are out of the market for the duration of a cash transfer however you will retain any associated ISA wrapper.
Can I transfer existing investments with other providers to the Vantage Service?
Yes. You can transfer ISAs, pensions, fund or share holdings into the Vantage Service. For further information on how to transfer these different types of investment please select from below:
Important information
Please remember that the value of investments, and any income from them, can fall as well as rise so you could get back less than you invest. If you are unsure of the suitability of your investment please seek advice.
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Have a question?
- Email us
- Call us on 0117 900 9000
- Mon - Thu:
- 8am - 7pm
- Fri:
- 8am - 6pm
- Sat:
- 9:30am - 12:30pm