This article is relevant to legacy Income Account holders.
Following on from our decision to stop offering Income portfolios to new customers as of 17th February 2023, we will now retire the service for all existing account holders on 11 December 2023.
In order to continue to provide the best service possible, we will work with Income Account holders in switching your portfolio over to the best product available for your needs. Learn more about the reasons behind phasing out Income Accounts.
What happens next
If we haven’t heard from you by 26 November 2023, we will continue to manage your Income portfolio until 11 December 2023. At which point, we will be converting all remaining Income portfolios over to the equivalent Growth Portfolio as below:
Income 1 > Growth 1
Income 2 > Growth 3
Income 3 > Growth 6
InvestEngine do not provide investment advice, and so we can only switch you over to a mandate which broadly aligns with the risk tolerance of your old Income Portfolio. Due to differences in the strategy of these portfolios, the new Growth Portfolio may not be optimal for achieving your investment objectives.
For this reason, we strongly recommend you create a new Growth Portfolio in the same account as your existing Income Portfolio, and transfer the assets over. This will allow you to retake our investment questionnaire, and show you our full suite of suitable growth portfolios.
Please consult the Key Features Documents of the relevant Growth Portfolios here.
Customise your migration
There are several options available to you before 26 November 2023 to tailor the transition away from an Income Account to your personal needs.
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Open a Managed Growth portfolio & transfer to this portfolio |
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Please do not hesitate to contact Support for more information.