What is a Wrap Account?
A wrap account is a secure online account that brings all your investments and pensions together in one place. It is called a ‘wrap’ because all the products (eg pensions, ISAs) and investments are ‘wrapped’ up in one account.
The benefits to you:
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You can view performance of your portfolio in real time, whenever you want
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You will get a clear and instant view of your portfolio’s performance and any tax implications
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The wrap offers a range of tax wrappers and investments, so your Adviser can tailor your investments to meet your risk profile and financial objectives
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With a single point of access to a wide choice of investments and tax wrappers, many at discounted rates, you and your Adviser have the freedom and control to make changes to your portfolio at the right time
The benefits to your Adviser:
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A wrap makes it easier for them to manage your finances more effectively
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They can concentrate on your needs, rather than the paperwork
The risks to you:
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The value of these investments and the income generated from them can fall as well as rise and you may not get back what you originally invested or transferred into the Wrap account
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Past performance is not a guide to future performance
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The performance of your fund will be reduced by the effect of charges including initial charges, annual charges and dealing charges
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Income generating funds sometimes deduct expenses from capital in order to improve income. This means that capital growth will suffer correspondingly
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Withdrawing income from your fund can reduce capital growth especially where performance is poor and the level of income withdrawn is high
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Certain investments for example "emerging markets", "technology" and "smaller companies" are generally more volatile than UK and large company investments
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The risks in your investment portfolio will depend on the funds you have chosen
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Investments in foreign assets are subject to currency risk i.e. as well as the risk of the underlying asset there is also a risk of a loss from the currency falling against the pound sterling
The Ascentric Wrap is only available to private investors through a Financial Adviser. If you would like to know more about how Ascentric can benefit you, please contact your Financial Adviser. If you do not have a Financial Adviser, please click here to find one in your area.