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Pensions & Investment Timescales & Process Changes!

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As a Client, you know that here at Redwood, we are constantly striving to deliver continuous improvement for you. At this year’s Client Conference, we shared the details of some important changes we have made based on our Clients needs, and in particular, making sure everyone knows the timescales and process for Top Ups and Withdrawals from their Investments.

Pension Withdrawals (Tax-Free Cash or Income)

  • These are now a Reportable Event to HMRC and if they are completed by us, they have to be done on a Fully Advised basis to ensure full Regulatory Compliance is met
  • For existing Clients, there will be a small fixed Administration Fee of £495 inclusive of VAT for us to complete this work for you
  • The processing time for these withdrawals will be 6 – 8 weeks
  • You can alternatively go directly to your Pension Provider who can complete this work free of charge as they have less Regulatory Compliance activity to undertake   

ISA’s, Bonds & Unit Trust Withdrawals

  • There are no HMRC reporting requirements for these types of withdrawals
  • These will be completed free of charge by us when required
  • The processing time for these withdrawals will be 2 – 4 weeks

Pensions, ISA’s, Bonds & Unit Trusts Top Ups

You can top up your Pensions & Investments to maximise your tax efficiency while building your wealth on the following basis;

  • Impulse Save if using True Potential – 1% Initial Fee
  • Through Redwood on a Fully Advised basis – 3% Initial Fee
  • The processing time for Top Ups will be 6 – 8 weeks

Annual Reviews

Following feedback from our Clients, we are now synchronising all 1-2-1 Annual Client Reviews to fall between July & August rather than the anniversary of you joining Redwood as a Client. This will ensure there is plenty of time before the end of the Financial Tax Year to consider all the options available to maximise your returns.

The team will be calling you in June to book these in.

If you have any questions about these changes, please call us on 01489 877 574 and the team will be delighted to help you! 

Jasmine Lambert Chartered Financial Planner
Jasmine Lambert
Jasmine is the Managing Director and Senior Financial Planner at Redwood Financial. She helps clients manage and grow their wealth and protect their estate. Jasmine also provides expert advice in our FREE Redwood Webinars, where you can learn more about Wills, Trusts and Estate Planning.
Redwood Financial is one of the south’s leading Investments, Pensions, Wills, Trusts & Estate Planning providers and we are dedicated to helping families to grow, protect and enjoy their wealth. With our unrivalled knowledge of Estate Planning, Lasting Powers of Attorney, Probate, Pensions, Savings & Investments, we can advise on any situation.
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