This Cash Back Offer (the “Offer”) is available when you apply to transfer your pension(s), ISAs or other investment account assets to Fidelity Personal Investing between 17th March 2017 and midnight on the 9th June 2017.
1. The promoter of this offer is Financial Administration Services Limited (“Fidelity”), 130 Tonbridge Road, Hildenborough, Tonbridge, Kent TN11 9DZ. Issued by Financial Administration Services Limited, which is authorised and regulated in the UK by the Financial Conduct Authority. Fidelity, Fidelity International, the Fidelity International logo and the F symbol are trademarks of FIL Limited.
2. Subject to section 4, the Offer is available to anyone who completes a transfer of their assets from other providers to Fidelity Personal Investing (the “Fund Supermarket”). To transfer assets you must submit a correctly completed form online or by paper.
3. Cash back will be paid in the amounts noted in the table in section 8. If you transfer less than £50,000 (in total across all products) you will not receive a cash back.
4. This Offer excludes: any transfer to Fidelity Personal Investing of assets held in a product/account provided or administered by any company within Fidelity’s group of companies including, without limitation, transfers from the EBS SIPP and the Fidelity Personal Pension, or FundsNetwork SIPP, provided by Standard Life; transfers of assets currently heldon Fidelity FundsNetworkTM; transfers from any defined contribution pension scheme investments held through Fidelity; transfers from any scheme where paid advice has been obtained from FIL Retirement Services Limited. The Offer will also not apply to assets that are currently held in a product/account provided or administered by any company within Fidelity’s group of companies which are transferred to another provider and then moved to Fidelity Personal Investing.
5. The following types of transfer will qualify for the Offer:
a. Cash transfer within ISAs and pension products – If you transfer in cash within ISAs and pensions, the provider you are transferring from will sell your investments and send the proceeds directly to us. We will hold them as cash within your account until you decide what you would like to invest in. Only cash transfers within an ISA or pension are eligible for the Offer. You can also re-register your ISA and pension holdings - see (b) below
b. Re-registration – this involves a change to the fund register to show that Fidelity has taken over the administration of your investment/s. We can re-register your investments if the same investments are available through the Fund Supermarket, and they are able to be re-registered*. If you hold a particular share class of an investment that we do not offer, we will sell your investment after we re-register it and move the proceeds into a share class that is available on the Fund Supermarket. This switch can take up to two business days, and your money will not be invested during this time. If you hold an investment that is not available through the Fund Supermarket or is otherwise unable to be re-registered* it will only be able to be moved to us as a cash transfer (see above), if the cash transfer is not within a pension or ISA, that amount will not count toward your total for the Offer. A re-registration does not count as a “disposal” for capital gains tax purposes, even if we switch your investment into a different share class.
* Re-registration is not available for all products available on the Fund Supermarket, for example, some offshore funds are unable to be re-registered.
6. Any other new investment will not qualify for the Offer.
7. Any transferred assets will be subject to the applicable client terms for the product your assets have been transferred to.
8. The value of your cash back payment will be determined by the total value of your eligible transferred assets on completion of the final transfer, as set out in the table below. Note: The minimum SIPP re-registration value is £50,000.
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9. Cash back payments will be sent to you after the closure of the Offer (9th June 2017) and within 90 days of completion of all your transfers. We will endeavour to make cash back payments by BACS transfer directly to your bank/building society account if we already hold your details. If we do not have bank details registered for you for the product for which you are entitled cash back, a cheque will be sent to the address registered on your account. (For example if we have bank details registered for your ISA but not your SIPP, if you are due a cash back resulting from a SIPP transfer, we will send you a cheque for this - we are not able to send your cash back for your SIPP to the bank account registered on your ISA account.) The time it takes to complete a transfer will depend on your current provider(s). The money will be due to you at the point we issue payment.
10. The assets you move to us as part of this Offer must be held with us for at least 18 months after the completion of the transfer and must not be linked to an adviser during this period. The 18-month period starts on the date that the last transfer is settled on your account. If you transfer your assets to another provider within this 18-month period, Fidelity reserves the right to reclaim any cash back payment that was made to you as part of this Offer. Fidelity may do this by withholding an amount prior to transferring or re-registering your assets to another provider. We will not reclaim the cash back amount from assets within a SIPP, pension or ISA.
11. Withdrawals from your account/s or income payment will not count as transfers for the purposes of this condition and will not result in our reclaiming your cash back payment.
13. Fidelity reserves the right to amend or withdraw this Offer at any time without prejudice to any transactions already initiated or completed.
14. We do not accept execution only (non-advised) transfers in of any defined benefit, safeguarded benefit or otherwise guaranteed pensions. We also do not accept 3rd party adviser certification of advice in respect of such pension benefits to be transferred to the PI SIPP, but advice for these types of pension benefits can be taken from FIL Retirement Services Limited and a transfer allowed only if the recommendation is that it is suitable for you to transfer to the PI SIPP (however, in accordance with section 4, transfers from any scheme where paid advice has been taken obtained from through FIL Retirement Services Limited shall not qualify for a cashback).