Platforms, Wraps and Nominee accounts

Up to a few years ago, investors faced having to open up a number of accounts and products to ensure they diversified their portfolio.  This creates a lot of paperwork, and generally people, over time, end up with various pieces of paperwork which don't provide an overall view of your investments or accounts. 

This is no longer necessary.

Often called "fund supermarkets", a platform provides the option to invest in a wide variety of funds, fund managers, risk levels, asset classes, and geographic locations.  Investments can be switched between different funds with lower than usual charges.  You can hold your ISA, personal pension and other funds under one administrative banner, via a nominee account.

A wrap offers all of this plus the additional flexibility of direct investment into shares and corporate bonds plus wider fund choices such as Investment Trusts and Exchange Traded Funds.  Advice from a stockbroker as well as an IFA may be required.  Some stockbrokers offer nominee accounts that offer the facilities of a wrap service.  Paul Davis can facilitate this where suitable.

Online access is usually possible for clients to view their portfolio whenever they wish.

Charges can vary across platforms and wraps, and advice is essential.

If you hold various existing investments and would like to know if consolidation onto this type of account is suitable, please contact Paul Davis.