Your new direct investing service

Changes to your investment services

Following the account move from Woolwich Plan Members Ltd, we’ve converted funds into clean share classes.

What's changed?

If you hold funds in your account, we’ve now converted these into clean share classes where available, in line with changes made by our regulator, the Financial Conduct Authority.

These changes will make it easier to understand who you’ll be paying for the administration of your investment account and how much you’ll pay.

Clean share classes generally have a lower Annual Management Charge (AMC) meaning a reduction in the overall cost of the fund for you. We no longer receive a share of this charge as commission. Instead, you’ll pay us a separate customer fee for running your account.

Remember, you won’t pay the customer fee until 12 months after the full online service has launched.

What happens next?

If you hold funds in your account, you should have received a letter that confirms your funds have been converted and shows your funds before and after conversion.

Here’s a reminder of the funds that were converted:

Fund conversion guide 310 KB1

Full-service launch update

We’re still working hard on delivering the full online investing service that we’d planned for late Spring. We’ll be in touch as soon as we can to give you more information about these service improvements and when they’ll be happening.

Terms and conditions

Here’s a copy of your new terms and conditions. You should have received these in the post too.

Terms and conditions pdf 790 KB1