ISA Process

If you have traditionally saved into a Cash ISA, it is good practice to check whether your method of saving is giving you the best possible returns on your money. Many people save for a ‘rainy day’, holding sufficient cash as an emergency fund.

But if you have accumulated much more than you would ever need for this purpose, are you missing out on having this money working much harder for you?

If you have invested your hard earned cash into a Stocks and Shares ISA, it is sensible to review your ISA’s performance regularly as well as any underlying charges as you could potentially benefit by transferring your ISA to another provider.

Below is our 2 step guide explaining how an ISA review with Periscope Wealth works. Remember, the review is free of charge and we will only recommend the transfer your ISA if it is beneficial for you to do so.

Step 1

We will discuss your current ISA situation with you, taking the time to understand what you are trying to achieve.

If we believe that improvements could be made to your ISA arrangements, we will initially explain how these can be accomplished.

If you are happy for us to give you more specific advice, we will need to gather some information about you and ask you to send us a recent statement about your ISA. It might be necessary for you to sign a Letter of Authority (LOA) so we can request more detailed information from your current ISA provider (but this is not always the case).

Step 2

Once we have all the information about your ISAs, we can set about providing you with advice on how improvements can be made.

If you are investing money from your Cash ISA, it will be important to ensure that you still have adequate cash reserves. You might only want to invest a percentage of your Cash ISA balance.

We will complete an assessment on how much investment risk you are comfortable taking and then the Financial Adviser will prepare your personalised Recommendation Report.

The report will explain our advice and the reasons for transferring to a new scheme. We will be able to answer any questions you may have before agreeing to proceed.

Upon accepting our recommendations the Application Forms for your new ISA will be forwarded to you for signing and we then complete the transfer for you.

Why undertake your ISA review with Periscope Wealth?

  • We are authorised and regulated by the FCA which provides you with protection.

  • We'll check the health of your current investments when we review them and only advise to switch if it benefits you.

  • We will provide you with regular communication, not just a statement and a letter once a year.

  • We are committed to the highest standards of client care.

  • All our ISA reviews are fully transparent, free and have no obligation to proceed.

  • We provide tailored advice based on your personal circumstances.

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