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. Important: If you reside in a country other than one of the countries listed above, we are not authorized to write to you about the transfer of investments to Fidelity. Please contact us to find out if you are one of these customers. The transfer of all interests in Fidelity held by our affected clients was completed on December 4, 2021. If you invested with Legal & General before this date, you may be affected by this transfer. Note: Our self-invested personal pension plan (SIPP) and company pension plans have not been transferred to Fidelity. If you hold one of these investments, they will not be affected by this transfer. From the date of transfer, Fidelity will manage your investments, including the cash available to you. Legal & General Group plc, commonly known as Legal & General, is a British multinational financial services and wealth management company headquartered in London, England. Products and services include investment management, life mortgages (a form of share release), annuities, annuities and life insurance. From January 2020, following the sale of Legal & General Insurance to Allianz, Allianz will no longer offer non-life insurance.
[3] The firm operates in the UK and US, with investment management firms in the Gulf, Europe and Asia. [1] It is unclear how long this guarantee will remain in place after the transfer, with a Fidelity spokesperson saying further details could be expected next year. 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. “Once this transfer is complete, clients will have the benefit of investing in Isas shares and investment accounts backed by the full power of Fidelity`s investment and retirement platform and LGIM investment expertise, which is not affected.” Yes, Fidelity can arrange for the transfer of your investments. Please contact them directly on 0800 358 0751 to make a request. The transaction, which is expected to close over the next 12 months, will move nearly 300,000 clients with £5.8 billion of assets under management to the Fidelity platform. Depending on the type of investment you held, we could have transferred it to Fidelity even if you did not respond to our communications. If you did not respond to the communications we sent you and you held some investments in an ISA but others in an investment account, your ISA may have been transferred to Fidelity, but your investment account remained with Legal & General. If you now wish to transfer your investment account to Fidelity, please contact Fidelity and they can arrange this for you.You can always contact us if you have any questions about the transfer or if you need details about historical transactions made during your stay as a legal and general client. The online consent portal is now closed and clients can no longer consent to the transfer. Legal & General shareholders will lose their investment benefits later this month when the retail business is transferred to Fidelity. If you are currently investing in Legal & General, the proposed transfer will not affect the management of these underlying funds, which will continue to be managed by Legal & General after the transfer. If your investments have been transferred to Fidelity, we recommend that you retain all communications we have sent you, as well as your other relevant documents, so that you can refer to changes to your investments in the future. We have transferred the management of our personal investment activities to Fidelity. After a deliberate process, we chose Fidelity because it aims to provide an excellent investment experience for our clients, and we are confident that your investments will be in good hands once transferred to Fidelity. Please refer to Fidelity`s Client Brochure. If your investments have not been transferred to Fidelity, we will contact you again in the coming months to inform you of any service restrictions or if we need to make material changes to your terms and conditions.
We will also confirm your options in the future. Please note that this helpline is reserved for questions regarding the proposed transfer to Fidelity. If you have any questions other than the proposed transfer, please contact the customer service team as usual (see contact details in your previous correspondence or contact us here. If the transfer relates to your investment(s), you received an information package prior to the transfer of your account, and if you previously managed your legal investment(s) online via My Account, the value of your investment(s) will now be displayed as £0.00.
