We look to utilise the most efficient structures for our clients in terms of tax and administration. Including the use of trusts and family investment companies (FICs) where these may be appropriate.
Over the last twenty years there has been an increase in service propositions and structures available through which clients can direct their investments. A wrap platform is one such service proposition we use for our clients. A wrap platform, or simply “wrap”, allows an investor to place the administration of all their assets in one place, with the wrap provider. Tax wrappers such as ISA’s, pensions and bonds can be bolted on to the wrap allowing them to be easily monitored and managed.
A wrap unbundles the administration from the investment as it can facilitate the ability to buy in the appropriate investment funds. Traditionally a pension provider, for example, would lock the client into using their in house investment propositions. A wrap structure can offer greater investment choice, flexibility, and cost savings. It allows for a more transparent cost and charging structure often with a much simplified consolidated secure reporting structure direct to your phone, tablet device and PC.
We use wrap providers for our clients dependent on their circumstances which are kept under review.
Please note that The Financial Conduct Authority (FCA) does not regulate tax and trust advice.