Questions and answersOn topics we think will be important to you

Keeping you up-to-date

We will update these questions and answers from time to time as your move to the interactive investor platform gets closer so we encourage you to check back often.

General

Can you tell me about interactive investor?

interactive investor is an award-winning platform business, the second largest for retail investors in the UK. Together with ATS we now have over 400,000 customers and £36 billion of assets under administration. We are majority owned by J.C. Flowers & Co., a leading private investment firm with approximately $15 billion of capital invested in financial businesses around the world.

Will my investments and cash be safe with interactive investor?

Once your account(s) move to the interactive investor platform, your investments will be held with Interactive Investor Services Limited, which is authorised and regulated by the Financial Conduct Authority (FCA). Any cash held in your account(s) will be treated as client money under FCA rules. Client money is held in trust, in bank accounts separate from our own. This means in the event we become insolvent, your money is protected from our creditors. So your investments and cash will be covered by FCA rules and protected by the Financial Services Compensation Scheme.

How does the interactive investor platform service compare to my current service?

Helping you achieve your financial goals is important to all of us, and once you move to the interactive investor platform you will have access to even more services and leading-edge technology to help you make the most of your money. There are some differences between the two platforms. We explain the main differences you should be aware of in this website and in our Understanding your new service guide.

Will I pay more or less for my service when I make the move?

With a choice of three service plans and some key interactive investor charges being less than you pay with ATS, there is a good chance you will pay less. But it will depend on your personal circumstances. You can find out more about how the charges compare on the better value page and in our Understanding your new service guide. You can also read about the interactive investor Service Plans here.

Do I have to move to the interactive investor platform?

Your account(s) will move to the interactive investor platform on 14 October 2019 unless you tell us you want to close them or transfer your cash and investments by 5pm on Friday 4 October 2019. You will stand to benefit from better value, better choice, better intelligence and better online services by making the move.

Will you waive your exit charge if I decide to leave?

interactive investor do not charge exit fees, so you have nothing to lose by giving your new service a try. If, though, you do decide to leave before the move ATS will not charge an exit fee either. If you wish to close your account(s) we will need to receive your instructions by 5pm on Friday 4 October 2019. If you wish to transfer to another provider, we will need to receive completed transfer out forms from that provider by 5pm on Friday 4 October 2019.

Your charges

Is the Investor Plan for me?

With interactive investor you will have a choice of three monthly Service Plans.

When your account(s) move, you will start on the Investor Plan as this is closest to ATS’ current charges. However, if you wish, you will be able to change this from first login.

As a rough guide, if you are an active and frequent trader in either funds or securities making four or more trades in an average month, you may prefer the Funds Fan or Super Investor Plan.

You can find out more about the Investor, Funds Fan and Super Investor Service Plans in Understanding your new service.

Are there any discounts for trading?

If you have continuously held an account with ATS for five years or more, you qualify for a Loyalty Discount for online and telephone trading. You can also buy discounted trading bundles if you wish.

There are no Loyalty Discounts or trading bundles to buy with interactive investor. So, if you have an ATS Loyalty Discount it will not carry over. But as the Investor Service Plan pricing includes more free online trades than for ATS, and more than one account type, there is still a good chance you will pay less overall. For frequent traders, the Funds Fan and Super Investor Service Plans offer lower trading charges for a higher monthly Service Plan price.

What about unused trades?

If you have unused trades from a bundle, or from the four trades included with your ATS account charge each year, we will carry these over to the interactive investor platform as trading credits.

How do I pay my monthly Service Plan?

ATS account charges are usually taken from the cash in your account each month. There is a specific fees cash account that you can keep topped up for this. Alternatively, you may be paying these charges by monthly standing order.

With interactive investor you have the option to set up a direct debit to pay your monthly Service Plan. Otherwise this is taken from any available cash in your Trading, ISA or SIPP account.

The option to pay by standing order will end when your ATS account moves to the interactive investor platform, so if you currently pay this way you will need to cancel any standing order instruction with your bank. This is not something we can do on your behalf.

Will there still be a Supplementary Account charge?

If you are not a UK tax resident or live permanently overseas you currently pay a Supplementary Account charge each year. This is £375 for each account (plus VAT for SIPP accounts).

After the move, interactive investor will still apply an additional charge if you live overseas. But this will be just £3.99 a month in addition to your monthly Service Plan price. We will not begin collecting this charge until the next date that your yearly ATS Supplementary Account charge would have been due.

Where can I find out more to compare charges?

If you want to compare all the charges between ATS and the interactive investor platform for your personal circumstances, read the ATS Charges Guide and interactive investor’s Rates and Charges. Both are available here or by contacting us.

Your accounts and investments

What account types are available with interactive investor?

interactive investor offers ISA, Junior ISA, SIPP and Trading Accounts (Trading Accounts are the equivalent of an Investment Dealing Account with ATS).

If you have a Child SIPP (named Junior SIPP by ii), or First Steps Account with ATS you won’t be able to open new accounts of this type after the move, but your existing accounts will move over. Details are in Understanding your new service.

What investment types are available with interactive investor?

With interactive investor you will be able to access UK-listed securities, including exchange traded funds, investment trusts, gilts and bonds, thousands of regulated funds (OEICs and unit trusts) and over 30,000 US and international shares traded directly on 17 global exchanges.

If you currently hold overseas investments in CDI form with ATS these will be converted to local holdings as part of the move. Details are in Understanding your new service.

How does international trading compare?

With ATS you can invest in overseas securities that can be traded through CREST as CDIs. All settlement is in Sterling, and ATS charges an international trading fee if it has to convert a local currency to Sterling to achieve this.

With interactive investor you can trade directly in up to 17 global markets. interactive investor also charges an international trading fee (FX charge) if it needs to convert currencies to achieve this for you.

Alliance Trust Savings interactive investor
Value of trade Our fee Value of trade Our fee
£0 – £24,999.99 1.50% £0 – £24,999.99 1.50%
£25,000 – £49,999.99 1.00% £25,000 – £49,999.99 1.25%
£50,000 – £99,999.99 0.50% £50,000 – £99,999.99 1.00%
£100,000 plus 0.35% £100,000 – £599,999.99 0.50%
  £600,000 plus 0.25%
Will I be able to hold currencies other than sterling?

Yes, this is a service interactive investor offers that ATS does not. With interactive investor you can hold and trade in up to nine different currencies in a SIPP or Trading Account.

I hold US shares. Will my W-8BEN move over with my account?

The W-8BEN is a form you must complete to hold and trade in US shares. It captures information that is required for the US Internal Revenue Service (IRS).

Having a valid W-8BEN means you can benefit from treaty relief on dividend and interest payments if you live in a country that has a relevant treaty with the US.

If you have a valid W-8BEN at the time of the move, it will transfer over with your account. If you need a new W-8BEN to hold and trade in shares in future, you can complete this online with interactive investor from your first login.

Does interactive investor offer access to select investment ranges?

Yes, after the move you will have the option to consider select investment ranges and model portfolios chosen by experts. You can find more details here.

Will I still be able to take part in Initial Public Offers (IPOs) and Share Offers?

Yes, you will be able to take part in any that interactive investor participates in. If you have signed up to receive email notifications about IPOs and Share Offers from ATS, you will continue to receive these from interactive investor once your account has moved.

What about interest on any cash I hold?

Neither ATS nor interactive investor pay interest on your cash at the moment, as rates are so low. interactive investor will be keeping this policy under review.

Important information – SIPP accounts

How flexible is the interactive investor SIPP when it comes to taking money out?

You will have access to all the same flexibility as now. You will still be able to use your pot to take tax-free cash (normally up to a quarter of your pension pot), provide a flexible retirement income, buy a guaranteed income for life, take money out as one or more lump sums.

There are some practical differences around the detail of how taking income from the interactive investor SIPP will work compared to ATS. These are covered in Understanding your new service.

Are there any changes when it comes to making contributions?

You, or your employer, will continue to be able to make regular or one-off contributions to your SIPP with interactive investor. Existing regular contribution instructions will be moved over with your account but there may be a change to the date these contributions are invested. Details are in the regular investing section on page 23 of the Understanding your new service guide.

What about legacy capped drawdown arrangements?

If you have a legacy capped drawdown arrangement in place with ATS, interactive investor will still support it after the move. If you wish, you will also still be able to transfer legacy capped drawdown arrangements from elsewhere into your interactive investor SIPP account.

Will my Expression of Wish move with my account?

Your Expression of Wish tells us who you would prefer your pension pot to go to if you die. Because your SIPP account will move to a new SIPP scheme with interactive investor, your existing Expression of Wish will not be transferred. You will need to complete a new one after the move and we will prompt you to do this at the time.

You should review and, if needed, update your Expression of Wish regularly, especially if there is a change in your personal circumstances. You will be able to do this online with interactive investor.

Your access to information

Will the history of my account with ATS move over with it?

When we move your account(s), we will include five years’ worth of ATS statements, consolidated tax certificates and contract notes for your future reference.

To help you track gains and losses on your investments if you wish, we will also create a ‘book value’ for each of your investments when we move them over. You will be able to edit this for a period to reflect their original purchase cost, or value at another date, if you prefer.

Will I still be able to receive account documents in the post?

For ISA and Trading accounts we will issue documents to you online unless you’ve asked us to post them to you too. For SIPP accounts we will issue documents to you online if we have an email address for you and post them to you if we do not. In all cases a charge will apply for each item we post.

What research information will be available?

Like ATS, interactive investor offers access to information and tools to help you research investments and make informed decisions. This includes:

  • Stocks and funds research and market news from leading market names such as Morningstar, Alliance News and Kepler Trust Intelligence.
  • Free digital copies of award-winning publications Money Observer and Moneywise.
  • Access to expert independent investment insights from a wide range of financial writers.
  • Access to interactive investor’s 70,000 strong community discussion boards.
I signed up to receive marketing communications from ATS. Will I continue to get these?

If you consented to receive marketing communications from ATS, your consent will move over with your account.

Your Retirement magazine will not continue after the move, but if you signed up to receive Taking Stock magazine, interactive investor will continue to publish this, and you will continue to receive a copy.

You will also be able to sign up to even more from interactive investor, including daily and weekly insight emails written by award-winning journalists.

As with ATS, if you want to change your communications preferences at any time it will be easy to do this through your account online.

Your services

What options are there for funding my account(s) with interactive investor?

The main ways for funding your account(s) after the move will be by direct debit or debit card payment. You will not be able to add money by standing order or cheque.

What options are there for trading with interactive investor?

With interactive investor you will be able to buy and sell online, over the phone or through a mobile trading app (a service that ATS does not provide). interactive investor will not accept trading instructions through the post.

Will a regular investing service still be available?

Yes, although there are some differences in the detail of your options and how this works. These are explained in Understanding your new service. If you currently have regular investment instructions linked to a monthly direct debit instruction in place, we will move these across for you. But we will only do this for investments that are eligible for regular investing with interactive investor.

Can I still manage what happens with my investment income?

Yes, although there are some differences in the detail of your options and how this works. These are explained in Understanding your new service. If you have reinvestment instructions in place today for your income, we will move these across for you where they are for eligible holdings for this service on the interactive investor platform. Otherwise, they will stop.

How will my shareholder rights be supported after the move?

Interactive investor offers a free opt-in online shareholder voting and information service that enables you to receive shareholder materials and, if you wish, vote on decisions directly affecting all your UK-registered shareholdings held in your account.

When your account is moved, if you currently have a valid email address, we will opt you in to this service automatically. You will be able to opt out afterwards if you wish.

Will I still be able to trade over the phone?

Yes, you will still be able to do this once you move to the interactive investor platform.

Who will be able to access my account to use its services?

You will be able to access it, as the account holder or registered contact for a child account. Anyone named as a joint holder on the account or anyone to whom you have granted a Power of Attorney will also be able to access it.

Anyone you have set up as a third-party authority on your ATS account will only be able to access your account by calling interactive investor after the move. They will not have online access.

What order types will I be able to use for trading?

You will be able to place at best, market, limit and stop loss orders with interactive investor. For more information, click here.

Will there be a ‘Bed and ISA’ service?

Yes, this is a new service you will have access to through the interactive investor platform. We move the investment(s) you want from your Trading Account to your ISA in one simple transaction. You are only charged for the repurchase at your standard online rate. The sale is free.

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If you still need help

If you do not find the answer to a question you have here, please check the Understanding your new service guide. If you still do not find the answer there, please email us at contact@alliancetrustsavings.co.uk or call us on 01382 573737. Lines are open 8am to 5pm Monday to Friday and calls may be recorded for training and monitoring purposes.