AXA Sun Life has made its with profits Isa available in a mini version which, until now, has only be...
AXA Sun Life has made its with profits Isa available in a mini version which, until now, has only been available through the maxi route. The bonus rate for the with profits Isa will be declared every six months and has a current declared annual rate of 9% before the deduction of charges
There are two share classes for the mini Isa. Share class 'A' is for regular savers of between £50 and £83.33 per month or lump sum investments of £1,000
The initial charge on the 'A' Shares is 3.5% with an annual management charge of 1%. Commission has been set at 3% initial
The current bonus rate is before charges, net bonus rates for Class 'A' are 7.91% and 6.82% for Class 'B'
Share Class 'B' is for lump sum investments of £1,000 only and features nil initial charges and an annual management charge of 2%. Commission is 0.5% fund based only
The group is also giving IFAs a marketing support pack des-igned to be used in the run up to the end of the tax year
The one-piece mailing pack will be available to IFAs in Dec-ember via their local Sun Life consultants
Avoids paperwork with two-step process
Investment process will use machines
Mark Sterling accused of operating a collective investment scheme without authorisation
'Increasing engagement will only favour those prepared to put in the effort'