The value of investments and any income from them can fall and you may get back less than you invested.
Frequently asked questions around the Brewin Portfolio Service.
For individuals with between £2,000 and £200,000 to invest and who can pick an appropriate portfolio made up of several funds without the need for financial advice. You can choose one of our six risk-based portfolios. You select the required portfolio based on your risk preference and your long-term goals. Your portfolio is rebalanced for you each month to the original allocation, in order to maintain your selected exposure to risk. Please see our brochure for further information.
We offer the below accounts to UK residents only. We currently do not open accounts for charities, companies or trusts:
- ISA - we offer Stocks and Shares ISAs to individuals over the age of 18 years old
- GIA - we can open General Investment Accounts in single or joint names
- JISA - a Junior ISA can be opened by a registered contact with parental responsibility over a child under the age of 18.
- Bare Trusts – invest for beneficiaries under the age of 18.
Any investments held in an ISA (or an Individual Savings Accounts) are free from UK Income and Capital Gains Tax. Each year you have an ISA allowance. You can put all of this into a Stocks & Shares ISA, Cash ISA or split it between the two. Per tax year you can only pay into one Stocks & Shares ISA and one Cash ISA.
A Junior ISA can be opened for a child under the age of 18 but no withdrawals can be made until the child’s 18th birthday, except in cases of death or terminal illness. A child cannot have both a Child Trust Fund and a JISA. If you want to open a JISA and the child already has a CTF you will need to fill in a JISA and CTF Transfer Form as well as an account opening form. The registered contact on both accounts must be the same person and must have parental responsibility.
The service fee is 0.7% per year of the value of your portfolio.
- Online Payment Request (at any time) FREE
- Ad-hoc Telephone/Postal Payment request £25 + VAT
- CHAPS payment fee (at any time) £15
- Account closure fee (at any time) £25 + VAT
- Transfer out £15 per line of stock
Each underlying fund within the portfolios will also attract its own charge and additional charges may also apply under different circumstances – for full information please refer to our Fees & Charges guide.
You can open an account an Online with six simple steps at brewin.co.uk, or you can complete a paper Application Form.
Application Forms to be returned to BPS Customer Services Team, Sixth Floor, Atria One, 144 Morrison Street, Edinburgh, EH3 8BR. Please note only individual adult accounts can currently be opened online.
GIA or ISA the minimum investment is £2,000.
JISA & Bare Trusts the minimum investment is a lump sum of £1,000 or £100 a month regular contribution.
BPS only accepts cash transfers
- If you open a GIA you will need to contact your current provider and request that they liquidate the account and arrange to send the proceeds to us.
- If your account(s) are with Brewin Dolphin please advise us of your account details and we will contact your current Investment Manager and ask them to liquidate the account(s) and send the proceeds to us.
Complete an ISA / JISA transfer form and we will contact your current provider. We will request that the account is fully liquidated and that the proceeds are sent to us. All funds will retain their ISA status. Please note your current provider may charge you for this request.
JISAs can be opened by a person with parental responsibility for a child under the age of 18. Any money held in the JISA will belong to the child and the person with parental responsibility will be named on the account as the Registered Contact. You can only have one Registered Contact on an account. The Registered Contact will receive all statements and correspondence relating to the account, and will also determine and control which portfolio the monies are invested in. No withdrawal can be made until the child reaches 18.
Yes, please contact the BPS customer services team who will arrange for the appropriate paperwork to be sent to you.
Prior to the child’s 18th birthday we will write to the account holder requesting details of their National Insurance Number. On their 18th birthday the account will automatically become an adult ISA. The responsibility for the ISA will no longer be with the Registered Contact and the child will have the full authority over the ISA. Should the child then wish to subscribe to the ISA, they would have to complete an ISA application.
Yes, there are a number of options available, you can:
- Top Up your account online by Debit Card
- Set up a regular Direct Debit payment
- Cheque made payable to “Brewin Dolphin”
- Bank Transfer to the following account
|Reference:||YOUR BPS ACCOUNT NUMBER|
No. The investment is exposed to risk and the value of the underlying stock market investments can fall as well as rise. The value of the portfolio fluctuates and you could get back less than the amount you invest.
Each strategy is made up of a mixture of assets. Apart from the cash on the account the other assets are linked to the stock market so no interest is paid on these. The interest rate is set at 0.40% below the Bank of England base rate.
No, as a non-advise service we do not provide Investment Managers. The BPS Customer Services Team can answer your questions but they cannot give you any advice.
Each of our portfolios is made up of different assets. Each portfolio has a corresponding benchmark that determines the size of each asset. Over time, these will vary as each asset will grow at a different rate. On or around 15th of each month the rebalance will return each asset to the benchmark size by buying or selling units as appropriate.
SEI are contracted by Brewin Dolphin to provide safe custody, administration and other associated services for BPS Customers.
Yes, the BPS Customer Service Team will email you 2-3 days after a new account is set up. This email will provide you with a username and password and details on how to complete registration.
Yes, income can be paid out either as a regular or fixed amount into your nominated account or reinvested into your portfolio. We can pay income out to your nominated account either monthly, quarterly or annually. Funds will be paid out on 23rd of the month (or the next working day if this falls on a weekend or Bank Holiday). To set this up please contact the BPS Customer Service Team. Please note, if the amounts withdrawn after charges exceed the total return, the capital value can be eroded. JISAs cannot have income paid out until the child reaches the age of 18.
Yes, you can add any individual to your account as a third party. To add an individual for review purposes only we would need a signed authority from you and the full name, address and contact details of the third party. To add an individual for review and instruct we would require all of the above information plus the third party’s signature, date of birth and we would carry out an electronic money laundering check (alternatively two forms of identification can be provided).
Statements are issued quarterly. These are available via your BPS Online Portal, or by post if requested.
Yes, you will receive an Annual Tax Report in June. Please note these are not provided for Stocks & Shares ISAs as you do not need to report these accounts to HMRC.
You can advise the BPS Customer Services Team by:
Telephone: 0333 207 9003
Email: firstname.lastname@example.org or
Post: BPS Customer Services Team, Sixth Floor, Atria One, 144 Morrison Street, Edinburgh, EH3 8BR.
Yes, you can change your strategy at any point and without charge. Simply contact the BPS Team, and we will amend your strategy at the next available rebalance (on or around the 15th month)
Yes, withdrawals can be made online, free of charge, at any time.
For telephone and postal requests there are two options for making withdrawals from your account.
- Option 1 – Free of Charge – Instruct the BPS Customer Services Team of the amount required by midday the business day prior to the 15th month, funds will be remitted to your bank account once sales have settled (normally 5-6 days) by BA
- Option 2 - £25 + VAT – Instruct the BPS Customer Services Team of the amount required, funds will be raised and remitted to your bank account once sales have settled (normally 5-6 days) by BACS
We can also send funds via CHAPS (if they are required urgently); the standard £15 fee applies to this.
JISA cannot have withdrawals until the child reaches the age of 18.
The portfolio continues to be operated within the service. A notification will be issue to all customers when the value of an account falls below £1,000. The BPS Customer Service Team reserve the right to automatically close the account at this value.
Yes, you will need to contact the new provider who will then request us to transfer the funds. As we will be required to close your account there will be a closure fee of £25 + VAT. To transfer the stock there is a charge of £15 per line. If the account has to be transferred in Cash, and we are advised before midday the business day prior to the 15th of the month the funds will be raised at the next ‘rebalance’ (we hold a rebalance on/around the 15th of each month). Funds will be remitted to the new providers bank account once sales have settled (normally 5-6 days) by BACS.
Please contacts the BPS Customer Services Team by telephone or postal. There are two options for closing an account.
- Option 1 – Free of Charge – Instruct the BPS Customer Services Team of the amount required by midday the business day prior to the 15th month, funds will be remitted to your bank account once sales have settled (normally 5-6 days) by BACS
- Option 2 - Charge £25 + VAT, we would carry out the sales at the time of instruction. As BPS portfolios are invested in unit trusts, the sales can take up to 5-6 working days to settle. Thereafter the funds would be available to send to your bank account.
All accounts are subject to the Account Closure Fee of £25 + VAT Please note that JISAs can only be closed when the child reaches their 18th birthday, they are terminally ill or they die. If the child is terminally ill, you will need to contact HMRC by completing the following form http://www.hmrc.gov.uk/tools/childtrustfundclaim/claimform.htm.
Any underlying fund charges are automatically deducted by the applicable fund from the assets you hold with said fund before it is applied to your BPS Account.
Key Investor Information Documents
Each BPS portfolio is built from a combination of investment funds selected by our award-winning research team. To find out more about the funds used to craft these portfolios, you can read the Key Investor Information Documents (or KIIDs) here:
L&G Global ex UK Inflation Bond Net Inc GBpH
L&G Global ex UK Inflation Bond Net Inc GBpH
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