The transaction includes £5.8 billion of assets under management held in Individual Savings Accounts (Isas), Junior ISAs and General Investment Products invested in Legal & General Investment Management (LGIM) funds. These assets are held in “legacy” ISAs, junior ISAs and general investment accounts that are invested in legal and general funds and in which clients remain invested at the time of change. Sipp assets are not included in the transaction. Founded in 1836, Legal & General is one of the UK`s leading financial services groups and a major global investor with over £1.4 trillion in assets under management*, a third of which is international. We also offer powerful asset creation capabilities. Together, they underpin our industry-leading pension and security solutions: we are a leading international player in pension transfer, life insurance in the UK and the US, and occupational pensions and retirement income in the UK. Through inclusive capitalism, we want to build a better society by investing in long-term assets that benefit everyone. Fidelity said Legal & General`s clients will benefit from access to the full capabilities of its investment and retirement platform, which includes a range of more than 3,000 funds, stocks, mutual funds and exchange-traded funds. Fidelity International has purchased the personal investment business of Legal & General Investment Management (LGIM) for an undisclosed amount, which will double the number of clients on its platform.

If you held a legal and general ISA investment and did not respond to our communications regarding the transfer to Fidelity, the transfer was transferred to Fidelity unless you specifically contact us to refuse the transfer. This was explained in the communications we sent to you and, in particular, in the last information package we sent you, which included details on Fidelity`s transfer date and expectations after the transfer. We have written to our overseas residents when we are allowed to do so in accordance with the regulations of their local country. See “Important Documents” for the information package for overseas residents. Financial advisor David Braithwaite of Citrus Financial explains: “If you have an L&G fund that you`re happy with, then they stay with that fund, just to manage things in the future, you`ll be taken care of by Fidelity. In my opinion, L&G didn`t want to have the burden of the administrator, so it turned it over to Fidelity, which has the expertise/ability to take over. He transferred the management of the personal investment business to Fidelity – the part that you and I would probably deal with if we had personal investments like ISAs, investment accounts and fixed income investments – but pensions remain as they are, they are not transferred. “Keep in mind that the value of your investment and any income from it can go down as well as up and are not guaranteed.

You can get back less than you invest. Tax regulations may change in the future and their tax benefits depend on your personal situation. LGIM strengthens its presence in Switzerland with the opening of a Zurich office and the appointment of Mauro Gerli Example of a flexible mortgage ISA Investor Consent Letter Subsequently, our analysis of other investment providers led us to decide that Fidelity would be the provider best positioned to advance this business and continue to provide excellent client service to our personal investment clients. what they expect from Legal & General. David Braithwaite says, “There`s nothing wrong with them, and if you read between the lines, I hope you should get better service for any administration that L&G might offer in the future.” From the date of transfer, Fidelity will manage your investments, including the cash available to you. Important information brochure for LIMFSA policyholders It is unclear how long this warranty will last after the transfer, with a Fidelity spokesperson saying additional details could be expected next year. As for the monetary incentive to shift more investments to the platform, it might be worth it, at least in the short term. Take a look at their hosting costs of your investments and compare them to what you pay elsewhere.

If the numbers make sense, that might be a good reason to pay more attention. After careful consideration, we decided to sell the company in October 2020. Legal & General: Continued positive momentum and robust balance sheet despite market volatility Please note that this hotline is only for questions regarding the planned transfer to Fidelity.