If you agree to move to the ii platform your money and investments will continue to be covered by FCA rules and protected by the Financial Services Compensation Scheme, in a very similar way to now. You can find more details here.
In terms of online security, you will be protected by 128-bit SSL encryption technology – the latest standard for financial transactions – to prevent anyone accessing your personal or financial details.
Please keep using your current service as usual for as long as your money and investments remain with it. If you agree to move to the ii platform your move will happen towards the end of 2021.
The Share Centre is combining with ii for an even better investment service for you, and our joint priority is to help you take control of your financial future. You will have access to a wider range of accounts and a huge range of investments compared to your current service. To find out more about what ii has to offer, visit the About ii section or explore our wider site.
You can opt out of the move if you wish. Your options in this case are:
- to move your money and investments elsewhere.
- to sell them and withdraw your money, and we will close your account.
- to ask us to return your investments to you in certificate form. If you choose this last option you will not pay a certification fee and if your investments are in an ISA we will close that ISA after you investments have been returned to you, which may have tax implications.
Our hope is that you will agree to the move as ii offers an even better investment service for you. As you get to know your new service, you will pay no monthly service plan fee to ii for the first six months after your move. You will also not pay an exit charge if you decide to leave before or after the move, so you have nothing to lose by trying your new service.
If you agree to the move, once your money and investments are on the ii platform we would link all your accounts together under the same service plan.
This would involve extra work for you and may not be the most practical option. Agreeing to the move means you will be able to trade on the ii platform from towards the end of 2021 and we will do all the work for you to get there, including carrying over existing instructions and other information from your account that would not otherwise move across with your money and investments.
Costs and charges
Your ongoing fees and charges with The Share Centre are not changing. It continues as usual at this stage. If you agree to move to the ii platform, your fees and charges will change after the move. To find out how they compare please read page 9 of the Caledonia key features document and the detail of the interactive investor service plans.
After your first six months with ii, you will pay a flat monthly service plan fee on the ii platform. This can cover you for your own ISA, Trading Account and as many Junior ISAs as you have children. You also have the option to add a Self-Invested Personal Pension for an additional £10 a month. You can choose from three service plans to find the best value for you. With each service plan you get at least one free trade a month, pay a competitive flat fee for UK trading at all trade sizes and there are no charges for regular investing.
That depends on your personal circumstances, including how often you trade and what you plan to do with your ii account in future. To compare charges please read page 9 of the Caledonia key features document and the detail of the interactive investor service plans.
There’s much more to help you take control of your financial future with ii. You will have access to a huge range of investments. Your monthly service plan charge on the ii platform can cover you for multiple accounts. Once you begin paying this monthly charge you will also get at least one free trade a month. From the start, you pay a competitive flat fee for UK trading at all trade sizes and there are no charges for regular investing.
You would have the option to set up a direct debit to pay your monthly service plan, which can be a convenient way to pay and means you will not have to remember to keep your account topped up with cash to cover it. Otherwise your service plan fee is taken from any available money in your Trading account or ISA account.
Once you begin paying your monthly service plan fee, you will also get a free trading credit each month on the ii platform and have a choice of service plans to meet different needs. Because of this, ii does not offer additional discounts for trading.
Accounts and investments
You can access a Stocks & Shares ISA, Junior ISA and Trading accounts within your monthly service plan cost at ii. New Trading accounts can be opened by individuals (jointly if wished) and corporates. You also have the option to add a Self-Invested Personal Pension (SIPP) to your service plan for an additional monthly fee of £10.
Yes, you can keep holding your Caledonia Investments plc Ord 5p shares. There will be a huge range of additional choices available to you for the future too, including direct access to trade on 17 global exchanges in 9 different currencies.
Yes. On the ii platform you would be able to trade directly on up to 17 global exchanges during their local trading hours. You could also hold and trade in up to 9 different currencies in a Trading or Self-Invested Personal Pension account which can save you a considerable amount in foreign exchange fees over time. If ii needs to convert currencies when trading for you, a foreign exchange fee would apply. Read ii’s Rates and Charges for the detail on this fee.
Yes. You would have the option to consider select investment ranges chosen by investment experts. You can find out more here . The detail of the current available ranges may change as we continue to develop our services.
Yes. You would be able to take part in any that ii participates in.
Neither The Share Centre nor the ii platform are paying interest on cash at the moment as rates are so low, but ii will be keeping this policy under review.
Access to information
Yes. You would receive broadly the same types of statement and document on the ii platform as you do now.
We would move your current communication preferences – for paper or email form – over to the ii platform. Once on the ii platform it is quick and easy to switch from paper to email communication should you wish, but you will not be able to switch from email back to paper.
At ii we are committed to supporting you in making informed, educated decisions about your investments. From up to the minute market news to investing tips and ideas you will have access to the very best research and fresh market intelligence daily. Find out more here.
As well as you, the same people who can access your account and use its services with The Share Centre would be able to access your account on the ii platform.
You would be able to pay money in by direct debit or debit card payment and your debit card details are securely stored so they can be reused, quickly and easily. We would carry over your bank account details and any direct debit instructions from your Share Centre account.
Online or over the phone, with extended hours for international trading. Postal and email trading would not be available after you move.
You can place at best, market, limit and stop loss orders on the ii platform.
In both cases you would continue to be able to set up and manage instructions online. We would carry any existing instructions for your Caledonia shares over to the ii platform. There are no charges for regular investing on the ii platform. Dividend reinvestment trades cost just 99p and can often be offset by the free trading credit you receive each month as part of your service plan.
Yes. You can access this online through the ii platform. We move the investments 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 (which depends on your service plan). The sale is free.
Yes. You would have access to a free opt-in online shareholder voting and information service on the ii platform and you would continue to hear about corporate actions that affect your investments.
Questions about opting out of the move
When we wrote to you originally about moving to ii we explained that, as transfers can take some time to complete, you would need to initiate one by 6 September 2021 if you wanted to transfer ahead of the move. As that deadline has now passed, there is not enough time for you to transfer elsewhere. You can, of course, still arrange a transfer from ii after the move. Neither The Share Centre nor ii apply an exit charge.
You first need to give us instructions to sell your investments and then instructions to withdraw the proceeds. Afterwards we will close your account.
To sell investments, sign-in to your Share Centre account online and give instructions for each investment you hold from there.
You can withdraw the proceeds once your sales have settled. Your contract note for each trade will show the expected settlement date and you can then request your withdrawal through your account online.
Yes and if you decide to go down this route Caledonia will cover The Share Centre’s usual charge for arranging this. You can ask us to return your shares to you in certificate form using the decision form we posted to you and afterwards we will close your account. To allow us time to make the necessary arrangements please return your decision form to us by 22 October 2021.