MANAGING YOUR CASH SAVINGS - Metro Bank...0203 402 8980 or by email to [email protected]. Alternatively, you can manage your account via Metro Bank’s online banking

M A NAGI NG YOU R CA S H SAV I NGS

PA RT N E R S I N M A NAGI NG YOU R W E A LT H

OUR APPROACH TO CASH

For many of our clients, cash plays a vital part in their lives, forming a significant proportion of their overall assets. Holding adequate cash reserves is not only important for meeting those day-to-day expenses but also provides reassurance that you are well prepared to meet any unexpected financial challenges.

Cash is uniquely accessible, resilient and reliable. But keeping up with the best deals and interest rates can be time-consuming; and moving money around, whether to minimise the risks you are taking with your funds, or to make the most of a great deal, can be arduous.

Knowing this, we work with Metro Bank and Flagstone to provide several options to make cash management effortless. With the help of your St. James’s Place Partner, you can manage your cash in a way that suits your circumstances and works for you.

3PA RT NER S I N M A NAGI NG YOUR W EA LT H



FLAGSTONE CASH MANAGEMENT SERVICE

WHAT IS FLAGSTONE?

Flagstone is an online cash management portal, designed to allow you to manage your cash with the twin aims of diversifying your cash and maximising the interest rate you achieve. Whilst many of us are aware that there are attractive savings rates available in the market, few have time to research these rates and their associated risk; and even fewer have the patience for the administration of maintaining numerous accounts. Flagstone is an innovative solution to this challenge.

HOW DOES IT WORK?

The Flagstone portal enables you to manage your cash deposits across a panel of more than 20 provider banks and hundreds of different deposit accounts at the push of a button. You only need to complete one application with Flagstone, and then no further paperwork is required to switch between banks. You can use the portal to help maximise interest rates and to minimise risk by diversifying deposits across several banks, taking advantage of the fact that each bank is party to the Financial Services Compensation Scheme which offers government protection to eligible clients to the first £85,000 of cash deposited.

This cash management service is available to the following clients with deposits in excess of £250,000:

• Private individuals

• Business clients

• Charity clients

• SIPP/SSAS and other trust accounts

ABOUT FLAGSTONE

Flagstone was established in 2013 by Andrew Thatcher and Simon Merchant. St. James’s Place worked with Flagstone for over two years before partnering with them to become our exclusive cash management provider. We recognised Flagstone as a market leader due to their paperless approach, proven technology and broad range of partner banks.

Flagstone Investment Management Limited is authorised by the Financial Conduct Authority and also regulated by them, meaning they are subject to the highest level of reporting and control. In addition, all the UK banks on the portal are regulated by both the Financial Conduct Authority and the Prudential Regulation Authority.

Your cash held on the Flagstone portal is never held on Flagstone’s balance sheet. Instead, each client is set up with a Hub Account, which is a segregated account set up specifically to safeguard client assets. A Hub Account is established to receive the initial monies transferred by the client onto the Flagstone platform before they are sent on to a deposit account. Flagstone’s Hub Account partner is Barclays Banks PLC.


IS FLAGSTONE RIGHT FOR YOU?

I have just sold a business and have a large volume of cash to keep safe before I invest with St. James’s Place

• For those with high levels of cash, the ability to conveniently spread it across multiple banks can help you diversify your counterparty risk, and maintain your Financial Services Compensation Scheme protection by keeping individual deposits under or near the protection limit.

I don’t want to take risks with my cash

• Every bank on the Flagstone portal comes with comprehensive credit research data in an easily comparable format, allowing you to assess each option before placing a deposit. Moreover, the very process of spreading your cash across multiple accounts will minimise your risk with any one bank.

I want to maximise the interest earned on my cash

• Flagstone allows you to spread your cash deposits between a range of account types and durations, meaning you can make the most of the best features of each account. With Flagstone, you can easily identify and take advantage of the best rates in the market by relocating funds in a matter of seconds.

I want to maintain control of my cash

• With Flagstone, you maintain complete control over your cash. You decide where your cash is deposited and how much.

I want to reduce the administrative hassle of managing my cash

• Flagstone eliminates the need for extensive forms and the administrative burden of opening and closing accounts. You only need to complete one application with Flagstone, then no further paperwork is required to switch between banks. Moving your funds can be done simply online and Flagstone handles the rest for you.




THE ST. JAMES’S PLACE SAVINGS RANGE

The products are straightforward and easy to use and are designed to provide you with a choice of instant access and fixed term solutions to help provide a return on your cash. Whether you are holding money personally or on behalf of a trust, these savings products help to ensure that money is secure for the short to medium term, whilst giving the flexibility to respond to cash requirements and investment opportunities. Using the Fixed Term and Instant Access Cash ISAs you can also take advantage of tax-efficient solutions for your savings.

The products also provide you with the opportunity to keep additional funds in cash whilst you consider your long-term financial objectives in conjunction with your St. James’s Place Partner. If you would like to open an account, please speak with your St. James’s Place Partner. All the accounts are provided by Metro Bank and are subject to their terms and conditions.

MANAGING YOUR SAVINGS

To make the everyday management of your account as straightforward as possible, a dedicated St. James’s Place Service Centre is available for our clients.

You can manage your money by contacting a member of the Service Centre on 0203 402 8980 or by email to [email protected]. Alternatively, you can manage your account via Metro Bank’s online banking service. You can also visit one of Metro Bank’s stores.

All accounts are provided by Metro Bank PLC. Your eligible deposits with Metro Bank PLC are protected up to a total of £85,000 by the Financial Services Compensation Scheme, the UK’s deposit guarantee scheme. Any deposits you hold above the limit are unlikely to be covered. Please note that for trust accounts the amount of cover provided may differ, dependent on the type of trust held. For further information visit www.fscs.org.uk.

ABOUT METRO BANK

Metro Bank is the first new high street bank in the UK for over 100 years and is committed to building a different kind of bank which is truly client-focused, with unparalleled levels of personal service and simple and transparent products.

Metro Bank offers a range of savings products that offer choice and flexibility.

Their ‘Savings Promise’ means that existing clients are never offered lower rates that new clients: they will always be on the best rate Metro Bank has available.

St. James’s Place has worked closely with Metro Bank to provide a savings range for our clients and their families, supported by the St. James’s Place Service Centre.

Metro Bank PLC. Registered in England and Wales. Company number: 6419578. Registered office: One Southampton Row, London, WC1B 5HA. We are authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and Prudential Regulation Authority. Metro Bank PLC is an independent UK bank – it is not affiliated with any other bank or organisation (including the Metro newspaper or its publishers) anywhere in the world. “Metrobank” is the registered trademark of Metro Bank PLC.



DEPOSIT ACCOUNTS

We have a choice of deposit accounts available, with the amount of interest payable dependent on how long you save for.

St. James’s Place Instant Access Savings Account

This provides easy access to your money and offers telephone and online access.

Account term Instant accessInterest rate (AERs) Please see rate sheetInterest payment Monthly Tax status You can earn up to £1,000 a year on your savings tax-free if you pay the basic rate of tax; and up to £500 a year if you pay the higher rate of taxWithdrawal arrangement Unlimited withdrawalsAccess Telephone or online

St. James’s Place Fixed Term Savings Account

We have a choice of accounts, with competitive interest rates, for savings you do not need access to immediately. The longer you can commit to leave your money deposited, the higher the interest rate payable.

Account term 3, 6, 12, 18 or 36 monthsInterest rate (AERs) Please see rate sheetInterest payment Monthly or annuallyTax status You can earn up to £1,000 a year on your savings tax-free if you pay the basic rate of tax; and up to £500 a year if you pay the higher rate of taxWithdrawal arrangement You can close your account within 14 calendar days: once you have passed the 14-day cooling-off period, you are not permitted to withdraw from or close your account before the end of the term Access Telephone or online

KEY PRODUCT INFORMATION


CASH ISAs

Cash ISAs provide a tax-free savings option with an annual allowance for the tax year 2018/19 of £20,000, which is not subject to Income Tax or Capital Gains Tax.

St. James’s Place Instant Access Cash ISA

This is a tax-efficient way of saving, but with instant access to your money when you need it.

Account term Instant accessInterest rate (AERs) Please see rate sheetInterest payment AnnuallyTax status Tax-free interestWithdrawal arrangement You are not permitted to withdraw from your account before the end of the term; you can close your Fixed Term Cash ISA, or transfer it to another bank or building society, but you’ll lose 180 days’ interestAccess Telephone or online

St. James’s Place Fixed Term Cash ISA

This is a tax-efficient way of saving, with a fixed interest rate for the term of your account. The longer you are able to commit to leave your money deposited, the higher the interest rate payable.

Account term 3, 6, 12, 18 or 36 monthsInterest rate (AERs) Please see rate sheetInterest payment AnnuallyTax status Tax-free interestWithdrawal arrangement You are not permitted to withdraw from your account before the end of the term; you can close your Fixed Term Cash ISA, or transfer it to another bank or building society, but you’ll lose 180 days’ interestAccess Telephone or online


TRUST ACCOUNTS

We have a choice of accounts available for your trust’s money, with the amount of interest payable dependent on how long you save for.

St. James’s Place Instant Access Trust Account

You will have easy access to the trust’s money in an instant access savings facility suitable for discretionary and bare trusts.

Account term Instant accessSuitable for Discretionary and bare trustsInterest rate (AERs) Please see rate sheetInterest payment Monthly Tax status This will be dependent on the type of trust that holds the account; please speak to your tax adviser or HMRC to confirm the trust’s tax positionWithdrawal arrangement Unlimited withdrawalsAccess Telephone banking, with balance information available online for trustees; a cheque book is also available on request

St. James’s Place Fixed Term Trust Account

There is a choice of fixed term facilities for your trust’s money. The longer you are able to commit to leave the money deposited, the higher the interest rate payable.

Account term 3, 6, 12, 18 or 36 monthsSuitable for Discretionary and bare trustsInterest rate (AERs) Please see rate sheetInterest payment Monthly or annuallyTax status This will be dependent on the type of trust that holds the account; please speak to your tax adviser or HMRC to confirm the trust’s tax positionWithdrawal arrangement You can close your account within 14 calendar days: once you have passed the 14-day cooling-off period, you are not permitted to withdraw from or close your account before the end of the termMinimum deposit £10,000Access Telephone banking, with balance information available online for trustees


ABOUT ST. JAMES’S PLACE

At St. James’s Place Wealth Management, we offer a wide range of high-quality wealth management services to individuals and families. At the heart of the business is the St. James’s Place Partnership, a group of some of the most experienced, able and highly regarded professionals working in wealth management today. They are solely responsible for delivering the St. James’s Place Wealth Management service to clients. Members of the St. James’s Place Partnership have on average 18 years’ experience in

the industry and build long-term relationships founded on trust.

YOUR PERSONAL WEALTH MANAGEMENT SERVICE

The essence of our business is to help make it easier for you to manage your wealth, and we achieve this through the provision of personal, face-to-face wealth management advice that is designed to suit your long-term requirements. Basing our service on this principle, our Partners have built exceptionally strong and trusted relationships with our clients and their families.


YOUR NEXT STEPS

Please contact your St. James’s Place Partner for further information about these products and how to apply.

All of the accounts are provided by Metro Bank and Flagstone and are subject to their terms and conditions.

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The ‘St. James’s Place Partnership’ and the titles ‘Partner’ and ‘Partner Practice’ are marketing terms used to describe St. James’s Place representatives.Members of the St. James’s Place Partnership in the UK represent St. James’s Place Wealth Management plc, which is authorised and regulated by the Financial Conduct Authority.

St. James’s Place Wealth Management plc Registered Office: St. James’s Place House, 1 Tetbury Road, Cirencester, Gloucestershire, GL7 1FP, United Kingdom.Registered in England Number 4113955.

MANAGING YOUR CASH SAVINGS - Metro Bank...0203 402 8980 or by email to [email protected]. Alternatively, you can manage your account via Metro Bank’s online banking

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