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Transfers & re-registration

  • Where a customer wishes to transfer a retail investment (ISA or CIA-type investment), the RDR rules require that units are re-registered in specie wherever possible. The sale of units and transfer of the cash is only allowed for funds that cannot be re-reg’d across.
  • This requires a change to the way we process these instructions. From launch there will be a combined transfer/re-reg process for ISA and CIA (pension transfers are not affected).
  • An instruction to transfer/re-reg in to an ISA or CIA can initially only be done on paper. During 2013 we will add online functionality to be able to do this on the adviser extranet.
  • Old Mutual Wealth does not facilitate adviser initial fees on ISA or CIA transfers/re-registrations in.
  • The functionality to produce illustrations for ISA transfers / re-registrations will be delivered in 2013.

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