IFA centre
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IFA FAQs
What is the role of National Savings and Investments?
National Savings and Investments is a valuable part of the government's debt management programme. As a Government Department and Executive Agency of the Chancellor of the Exchequer, our role is to raise funds for government that are cost effective in relation to funds raised on the wholesale market. We do this by offering savings and investment products to personal savers and investors, and the money placed with us is used to help finance the National Debt.
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How big is National Savings and Investments?
We have about 30 million customers, which is twice as many customers as the next largest retail financial services provider and we have £80 billion of savers and investors funds. This constitutes approximately 14% of the UK National Debt.
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Why should Financial Advisers recommend National Savings and Investments products to their clients?
NS&I offer a broad range of consistently priced products which are designed to be the foundation and bedrock of everyone's savings and investments portfolio. All of our savings and investment products are backed by HM Treasury which makes them 100% secure.
NS&I is the only provider able to offer a range of tax-free products (aside from small investments with friendly societies) i.e. Premium Bonds and Savings Certificates. These products are unique.
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You don't pay me commission - Why?
National Savings and Investments seeks to promote truly independent advice and believe that a recommendation by an adviser that his or her client should keep a proportion of their portfolio in cash, where traditionally commission is not paid, really demonstrates impartiality. We believe that the UK population is likely to require advice on short term savings products, and most will clearly have some place for one or more of the products offered by NS&I. We find that many advisers look to us to provide a secure home for their clients' cash and short term savings needs, which then affords the flexibility required when looking at riskier investments.
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National Savings and Investments will not disclose specific client information to me, although I was responsible for introducing the client to you - Why?
Because we don't have contracts with financial advisers, the Data Protection Act and the statutory regulations governing NS&I prevent us from disclosing any information to a third party without specific authorisation from the customer.
However if a customer supplies us with written authority to provide details of their National Savings and Investments products to a financial adviser, we will be happy to do this.
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Why should Financial Advisers use National Savings and Investments' One Stop Shop?
The One Stop Shop was designed with Financial Advisers in mind. Whatever your query, you need only make one telephone call to the Financial Advisers' Helpline, where our specially trained team will assist you.
The IFA Centre on the NS&I website has an online registration facility for advisers who would like to receive the 'Quick Guide' automatically, each time there is a rate change or amendment to any product specification. Registering will also ensure that advisers are notified of new Issues of GEB, or new or enhanced product offers and other initiatives.
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How much can my client invest with National Savings and Investments in tax-free savings?
Your client can initially invest £93,600 in NS&I tax-free products. They can subsequently invest additional amounts tax-free as and when new Issues of Savings Certificates are made available and/or their ISA allowance starts again on 6 April each year.
It's also worth remembering that full values of mature Savings Certificates can remain invested tax-free.
Your client may also invest £3,000 in each issue of Children's Bonus Bonds for a child under 16 with no tax liability. The child can hold the investment tax-free until their 21st birthday, even if they become a tax-payer. There is a new issue of Children's Bonus Bonds each time a new fixed rate is on offer.
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