One of the best pieces of advice you can give to clients is ensuring they utilise their annual ISA allowance. This will allow for your client’s investments to grow tax-free and not be subject to capital gains or income tax when your client decides to withdraw their monies.
Working with numerous financial adviser firms, we have come to realise that a lot of them struggle with finding the time to be able to meet with their clients, review their investments and make recommendations to maximise their annual ISA allowance. This ultimately means a loss of recurring revenue for your business!
Here at Eparaplan, we can manage an Annual ISA campaign service for you. The process of this is detailed below:
- We will collate a list of all your clients and manage these on a database and check those clients which have yet to utilise their ISA allowance for the year.
- We will then create a template letter, using your company branding/colour scheme.
- 2-3 months before the end of the tax year, we will write to your clients informing them that they still have some/all of their annual ISA allowance remaining.
- Within this letter, we will provide them with the option of subscribing new monies to their ISA or transferring funds from a General Investment Account (not tax-wrapped) into an ISA (Bed and ISA).
Once we hear back from your clients, we will set the expectation with the platform provider and make the necessary arrangements to ensure that this valuable tax-efficient allowance is utilised. As you may already be aware, unused ISA allowances are non-cumulative and thus can’t be carried forward to the next tax year.
Any follow up and reporting will then be carried out, sent to your client and filed for compliance.
We keep you informed and up to date along the process and ensure all templates and reports are signed off by you, the adviser before sending.
This saves our advisers time, prevents missed opportunities for their clients and drives professionalism of your business.
- From £31.50 – £49.50 per hour