James Hay restricts ability to invest in NSIs

The firm said the decision stemmed from a combination of a lack of demand and risk appetite, although it added it would continue to fulfil its obligations to existing NSIs. The decision follows an internal review and consultation with advisers. It also means the specialist investments module will no longer be available to new customers on the Modular iPlan. New customers will no longer be able to buy an NSI, except through a SASS, from January 2017, while existing customers will be unable to purchase a new NSI in a James Hay product from May 2017. The policy for NSIs held by third ...