Key Features of the i-stock General Investment Account (GIA)

Your i-stock General Investment Account

The Key Features Document relates to your i-stock – General Investment Account (GIA). The product provider for your General Investment Account is Gaudi Regulated Services Limited.

Introduction

Well done on making the step to open your own i-stock General Investment Account (GIA). This product is offered by i-stock, which has appointed Gaudi Regulated Services Limited to act as the product provider.

This document provides an overview of all the things you need to know to get started, and the facts you need to determine whether this product is right for you. If after reading, anything is unclear, please contact i-stock by emailing: investing@i-stock.uk

or calling:

0333 444 8444

All calls may be recorded

  1. i-stock General Investment Account Features
  2. Schedule 1 – Fees and Charges
  3. Schedule 2 – Declarations
  4. Schedule 3 – Cancellation Notice

Key Features

This Key Features Document shows you the main points about the i-stock GIA.

Please read these carefully and keep it with your i-stock GIA documents.

This Key Features Document is issued by Gaudi Regulated Services Limited. Gaudi Regulated Services Limited is registered in England with number 06638918. Registered office: 2 Oakridge Office Park, Southampton Road, Whaddon, Salisbury, Wiltshire, SP5 3HB. Gaudi Regulated Services Limited are authorised and regulated by the FCA.

Its Aims:

  • To provide the opportunity for Capital Growth, with no limit on how much you can invest.
  • To allow you access to your money. Although this should be considered a long-term investment you can make one off withdrawals at any time.
  • Investments in this GIA will usually be subject to UK tax.

Your Commitment

You must ensure that you understand the features, benefits and risks of our GIA; so that you can be sure it will meet your needs and expectations.

You must provide us with any information we require when setting up the GIA and agree to be bound by our GIA terms and conditions and pay the charges as set out in the Terms & Conditions.

Risks

The value of investments held in your GIA can fall as well as rise. You may get back less than the amount invested.

The Funds offered through i-stock may not be covered by the FSCS. Please refer to the fund literature for more information before choosing to invest in the fund.

Past performance is not an indication of future performance and some investments need to be held for the long term to achieve a return.

You should note that the rules relating to the taxation of GIAs and of capital gains and income from investments held within them are subject to change.

If, after considering these risks, you have any doubts about the suitability of the i-stock GIA or if you need further advice then you should contact a qualified financial adviser.

QUESTIONS AND ANSWERS

Could your GIA be right for me?

Our GIA could be right for you if you:

  • Are looking to build up a portfolio of investments
  • Understand that growth is not guaranteed
  • Want unrestricted access to your money
  • Require access to a range of investment opportunities
  • Are looking for a long-term investment

If you are in any doubt about the suitability of a GIA you should contact a qualified financial adviser.

Can I have a GIA?

You can join and contribute to a GIA with us if you are resident in the UK and aged 18 or over.

What are your GIA charges?

Our GIA charges are explained in the i-stock Terms and Conditions and illustrated in schedule 1 of this Key Features Document.

What other terms and conditions apply?

Our GIA terms and conditions are set out in the i-stock Terms & Conditions.

Who can pay contributions into my GIA?

You can contribute to your GIA if you are aged 18 or over, and are resident in the UK.

Once your GIA is set up you can pay single and/or regular contributions.

Are there any contribution limits?

The minimum single contribution is £100. The minimum regular contribution limits are £50 a month or £12.50 a week.

How can contributions be made?

Single and regular contributions can be paid monthly by Direct Debit.

Single contributions can be paid by bank transfer.

All contributions must be drawn on a bank account in your name. Contributions from a joint bank account will only be accepted provided you are a named holder of that account.

Can I transfer existing GIA investments to you?

You can transfer your existing GIA, in cash, into a GIA with us. The transfer must be in the form of a cash payment and in this case, you will have to sell all of the investments held under your GIA before the transfer is completed. Doing so may incur Capital Gains Tax charges; if you are in any doubt about the suitability of a transfer into your GIA you should contact a qualified financial adviser.

Do I pay tax on any dividends or gains within my GIA?

If the total dividends received across all of your unwrapped investments (those not in a tax-beneficial account such as an ISA) are below your annual dividend allowance then no tax will be due on your dividend income. Any dividend income that exceeds your annual allowance will be subject to tax at the applicable dividend tax rate for your personal circumstances.

The selling and buying of holdings when switching investments, or the sale of holdings to make a withdrawal may be liable to Capital Gains Tax.

You will not receive interest on any cash held in your GIA account.

This is based on our understanding of current UK tax law and HM Revenue and Customs practice. Tax benefits, law and practice may of course change in the future. Your tax liability will depend on your own individual circumstances, including your country of residence for tax purposes. If you are unsure about your own situation you should contact a qualified financial adviser.

Can I transfer my GIA to another GIA provider?

You can transfer the value of your GIA to another provider at any time.

The transfer will be in the form of a cash payment and so you will have to sell down your investments held before the transfer can be completed.

Where will my money be invested?

Your money will be invested in your selected investment fund. Before making an investment you should read all of the relevant fund literature.

Can I make regular investments?

Yes, regular investments can be made by Direct Debit.  We will credit the Direct Debit cash to your account following a 5-day clearance period.

Can I obtain up-to-date valuations?

Yes. You can check the value of your holdings at any time through the i-stock app, and can find valuation, performance, and contribution details there.

Can I withdraw money from my GIA?

The i-stock GIA is a long-term investment. You can withdraw cash from your GIA at any time.

You can either withdraw the full balance held in your GIA, or withdraw part of the balance.  There are no charges for withdrawing cash from your i-stock GIA.

Can I receive an income?

Any income generated from the assets inside your i-stock GIA will be reinvested automatically. If you wish to take an income from your investment this can be achieved by withdrawing part of your investment at any time.

What happens if I die?

Once we are advised of the death we must take steps to close the GIA.

We will liaise with the persons dealing with the estate regarding the sale of any investments and so it is important that they hold details of the GIA.

Can I change my mind?

You have a right to cancel your GIA if you change your mind. When your first GIA contribution or transfer is received you will receive a cancellation notice. This will give you the right to cancel during the next 30 days.

Your GIA will be invested in assets during this period. If you choose to cancel your Account during the cancellation period, any investments held in your Account will be sold and we will return any contributions or transfers. In the case of a transfer, the previous provider might not accept the funds back. The amount to be repaid maybe less than the amount paid to us if the value of the investment has fallen at the time it is sold or where we have deducted any applicable charges.

How is Banking & Administration carried out?

When you move funds into your i-stock GIA, any cash will be placed into a client money bank account held with Barclays Bank PLC or another bank at the discretion of Gaudi Regulated Services Limited.

This does not affect the funds held in your i-stock savings balance.

The i-stock GIA is provided by Gaudi Regulated Services Limited. Gaudi Regulated Services Limited has appointed Quai Administration Services Limited to undertake the day to day administration of the product.

Are there any compensation arrangements covering my GIA?

The Financial Services Compensation Scheme (FSCS) protects consumers when financial services firms fail [or go bust]. It is the compensation scheme for customers of UK authorised financial services firms, and includes investment firms. The maximum claim that could be made by your GIA is £85,000.

The Funds offered through i-stock may not be covered by the FSCS. Please refer to the fund literature for more information before choosing to invest in the fund.

Further information about the compensation arrangements is available from the Financial Services Compensation Scheme at www.fscs.org.uk

How do I complain?

If you feel dissatisfied with any aspect of our service, then in the first instance please contact i-stock on 0333 444 8 444 or send a letter to the following address:

i-Stock
1 Bracknell Beeches
Old Bracknell Lane
Bracknell, Berkshire
RG12 7BW

If we are unable to resolve your complaint to your satisfaction, and you are an eligible complainant as defined by the Financial Conduct Authority, you will have recourse to the Financial Ombudsman Service. Details of the Financial Ombudsman Service are:

Financial Ombudsman Service
Exchange Tower
London
E14 9SR

Email: complaint.info@financial-ombudsman.org.uk

Website: www.financial-ombudsman.org.uk

Telephone Numbers:

0800 023 4567 (calls to this number are now free on mobile phones and landlines)

0300 123 9 123 (calls to this number cost no more than calls to 01 and 02 numbers)

IMPORTANT NOTES The information in these key features document is provided based on our understanding of current law, practice and taxation which may be subject to change.

Full details of the legally binding contract between you and Gaudi Regulated Services Limited are included in the i-stock “Terms and Conditions” which you should have been provided with and which is available upon request.

The law of England and Wales will apply in all legal disputes.

i-stock is the trading name of Tavistock Wealth Limited which is authorised and regulated by the Financial Conduct Authority – reference 568089.  The registered address for Tavistock Wealth Limited is 1 Bracknell Beeches, Old Bracknell Lane, Bracknell, RG12 7BW. Registered No: 7805960. Registered in England. VAT Number 136207533.

Gaudi Regulated Services Limited is authorised and regulated by the Financial Conduct Authority. Registered in England No 06638918, VAT No 100101222.

The Registered Office for Gaudi Regulated Services Limited is 2 Oakridge Office Park, Whaddon, Salisbury, SP5 3HT.

The Registered Office for Quai Administration Services Ltd is 16 Tesla Court, Innovation Way, Peterborough, PE2 6FL. Registered No: 07584959. Registered in England. VAT Number: GB122870723

Schedule 1 – Fees for i-stock Investments

For the i-stock GIA – An annual management fee of 0.00% of the amount you have in the account taken monthly from your i-stock GIA.

In addition, the fund(s) in the GIA will incur fund charges, charged by the provider of the fund, these are specified in the fund Key Investor Information Document (KIID).

Schedule 2 – The i-stock General Investment Account Cancellation Form

You have a right to cancel your GIA if you change your mind. When your first GIA contribution or transfer is received you will receive a cancellation notice. This will give you the right to cancel during the next 30 days.

Your GIA will be invested in assets during this period.  If you choose to cancel your Account during the cancellation period, any investments held in your Account will be sold and we will return any contributions or transfers. The amount to be repaid maybe less than the amount paid to us if the value of the investment has fallen at the time it is sold or where we have deducted any applicable charges.

Name:

Address:

Email Address connected to i-stock:

Date of birth:

I hereby inform i-stock that I wish to cancel the i-stock General Investment Account, and instruct the product provider to sell all investments, and return the funds to me (subject to the i-stock Terms and Conditions).

Signed:

 

Dated:

Return this form to i-stock, c/o Quai Administration Services Ltd, 16 Tesla Court, Innovation Way, Peterborough, PE2 6FL

Investment Account Declaration

GIA Declaration

I authorise the Product Provider appointed by i-stock to hold my cash subscription/payment, investments, interest, dividends and any other rights or proceeds in respect of those investments and any other cash. I confirm that:

  • All subscriptions made, and to be made, belong to me.
  • I am resident in the United Kingdom for tax purposes.
  • I am 18 years of age or over.
  • I am not a US Person (as defined by the US Tax Authority).
  • I agree to the charges as defined in the i-stock Terms and Conditions.
  • The information provided via the online application and any other documents completed in connection with this application, are correct, complete and not misleading. I accept full liability for any claim, loss or expense incurred by me as a result of incorrect information provided by me in this application. I agree to inform you within 30 days of any changes in the details I have supplied in this application.

I acknowledge and agree to the following statement about my understanding of risk:

  • The value of my investments can go up as well as down. I may get back less than I invested. My capital is at risk.
  • Instant access to funds cannot be guaranteed. This should be considered a long-term investment.
  • Tax rules and relief can change in the future.
  • These products are only suitable for people who wish to select their own investments. No advice will be given by i-stock or Gaudi Regulated Services Limited.

The Financial Conduct Authority is a financial services regulator. It requires us, Gaudi Regulated Services Limited, to give you this important information to help you to decide whether our ISA is right for you. You should read this document carefully so that you understand what you are buying, and then keep it safe for future reference. 

        

i-stock is a trading style of Tavistock Wealth Limited which is authorised and regulated by the Financial Conduct Authority, FCA No: 568089. Registered in England and Wales. Registered O­ffice: 1 Bracknell Beeches, Old Bracknell Lane, Bracknell RG12 7BW, Company Number 7805960. Tavistock Wealth Limited is a wholly owned subsidiary of Tavistock Investments Plc. The product provider for the i-stock ISA and GIA is Gaudi Regulated Services Limited which is authorised and regulated by the Financial Conduct Authority, FCA No: 488815.  Registered office 2 Oakridge Office Park, Whaddon, Salisbury, SP5 3HT, Company Number 06638918. Registered in England.

If you require any further information, you should find most answers in our FAQs, otherwise please feel free to contact the i-stock helpdesk. Alternatively, you can send us a message below.

By completing the form below you voluntarily choose to provide personal details to us via this website. Personal information will be treated as confidential by us and held in accordance with the appropriate data protection requirements

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i-stock is a trading style of Tavistock Wealth Limited which is authorised and regulated by the Financial Conduct Authority, FCA No: 568089. Registered in England and Wales. Registered O­ffice: 1 Bracknell Beeches, Old Bracknell Lane, Bracknell RG12 7BW, Company Number 07805960. Tavistock Wealth Limited is a wholly owned subsidiary of Tavistock Investments Plc. The product provider for the i-stock ISA and GIA is Gaudi Regulated Services Limited which is authorised and regulated by the Financial Conduct Authority, FCA No: 488015. Registered in England and Wales. Registered office 2 Oakridge Office Park, Whaddon, Salisbury, SP5 3HT, Company Number 06638918.

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