Is i2day robo advice? Yes,

 

The definition from Investopedia is as follows: - A robo-advisor (robo-adviser) is an online wealth management service that provides automated, algorithm-based portfolio management advice without the use of human financial planners. Robo-advisors (or robo-advisers) use the same software as traditional advisors, but usually only offer portfolio management and do not get involved in more personal aspects of wealth management, such as taxes and retirement or estate planning.

 

Some commentators would call us bionic advisers because we offer a human interactive approach also for those of you that need to speak to us.

 


Minimum & Maximum amounts invested.

 

Minimum Regular monthly investment:  £100 per month

Minimum Lump sum:  £1,000 Lump sum

 

You can invest both a lump sum and add save regularly.

 

There is no maximum that you can invest monthly or as a lump sum.

 

The maximum that you can invest in an ISA for this tax year, 6th April 2018 – 5th April 2019, is £20,000. Any amount above this figure will be invested in a General Investment Account (GIA).


Can I use my ISA (Individual Savings Account) allowance?

 

Yes, your ISA allowance for this tax year 2017/18 is £20,000. i2day will utilise the investment ISA element of your annual ISA allowance

 

Any excess that is invested beyond your £20,000 ISA allowance will be invested in a GIA (General investment Account).

 

The ISA allowance for the 2018/19 tax year is £20,000.


 What is Bed & ISA?

 

If you invested £25,000 with i2day, you can only invest a maximum of £20,000 in an ISA.

 

The remaining £5,000 will be invested in a General investment account . Once your new ISA allowance is available 6th April (new tax year) you can request that your remaining £5,000 which will be currently invested in the General Investment Account can be automatically placed in your ISA. This now means your full £25,000 is now benefiting from the tax efficiencies that an ISA can give you.


Benefits of an Investment ISA?


Tax Efficient Growth

No UK Tax on Income or Interest

No Capital Gains Tax

No need to declare on Tax Return

Less tax means a greater potential return/growth

Flexible

Potential fund management expertise

Invest in different asset class’s e.g Cash, Bonds, Property, Equities


Does i2day accept ISA transfers.

 

i2day does accept ISA transfers


Is this financial advice?

 

Yes, i2day is simplified* advice, we ask you a number of very specific questions and this is why you must answer them honestly. We tailor the investment portfolio in response to your answers. i2day currently only focuses on investment advice. 

i2day is not holistic advice therefore advice on protection, pensions, estate planning,  tax etc is not taken in to consideration. If you feel that you require a full advisory holistic approach to your financial planning needs then please don’t hesitate to contact us directly.

* Advice that is limited to one or more of a customer's specific needs and does not involve analysis of the customer's circumstances that are not directly relevant to those needs.


How long do I need to invest for?

 

There is no fixed term to invest. However as this is an investment & your money will fluctuate it is recommended to see this money to be set aside for at least 5 years.


 Am I locked in to this investment?

 

No


Are there any penalties to access my money?

 

No


Can I access my money at any time?

 

Yes, however this can take up to 10 working days.


Can I change my mind

 

Yes, from the date we receive your completed application, you have 14 days to cancel.  However due to market fluctuations you may get back less than what you put in.

If you cancel your ISA within 14 days of us receiving your application you can still invest in another ISA in the same tax year.


I want to close my account?

 

Simply withdraw your funds, which can take up to 10 working days.


 I am not a UK resident, Can I still invest?

 

This service is only available to UK residents.


How old must I be to invest?

 

You must be at least 18 years of age to invest.


Who is a vulnerable Client

 

The Financial Conduct Authority has no specific rules regarding Vulnerable Clients and instead relies on its Treating Customers Fairly initiative and general principals. Potentially Vulnerable clients are a class of client specifically mentioned by the FCA as being at a higher risk of receiving inappropriate advice. Potentially Vulnerable clients are typically classed as those over the age of 75, but the following could also be considered to be, though this is not an exhaustive list:
 

  • mental impairment (even if not fully incapable)
  • recently bereaved
  • recent diagnose with a major illness (or similar e.g. loss of limb)
  • breakdown of marriage or other long term relationship

Does i2day deal with pensions?

 

No, at this present time i2day is focused on investment advice only.

If you want to discuss Pensions please don’t hesitate to contact us.


What are your Charges?

 

There are no initial charges. There are on-going charges which apply to i2day investments.

We have a detailed page on charges at the top of this website.

Your detailed personalised investment report will also make clear to you what our on-going charges are.


 Do I manage this investment?

 

No, you do not need to do anything. We do all the investment decision making for you. The fund managers involved are highly skilled, qualified and experienced with the daily management of investing. They will make daily decisions on how best to invest your money.


How do I know how my investment is performing?

 

You will receive 2 online statements per year. You also have a log on and password set up feature which allows you to have 24/7 valuation access to your investment.


Do you have a Ethical/Religious investment portfolios?

 

No, If you would like to discuss this further please contact us.


 How do I fund this investment?

 

You can either do it online via our secure payment service or simply send us a cheque.

 

For regular savings a direct debit will be set up.