• Menu
  • Skip to right header navigation
  • Skip to main content
  • Skip to secondary navigation
  • Skip to primary sidebar
  • Skip to footer

Before Header

Your Account

Brown Dog logo

Giving you what you need to make wise financial decisions, for the life you want now and in the future

  • Home
  • What we do
  • How we do it
  • Why come to us
    • My Mortgage or My Pension?
    • When can I Retire?
    • Will my Partner be alright?
    • I don’t want to leave money to the Tax Man
  • Who we are
  • Blog
    • Brown Dog Videos
  • Contact
  • Brown Dog Financial Planning
  • What we do
    • Brown Dog Videos
  • How we do it
  • Why come to us
  • Who we are
  • Blog
  • Contact
  • Account Login
Dog on a log

Important News About Your Zurich Portfolio

We’re writing to let you know that Zurich has agreed to sell part of its UK wealth and investment business to the Embark Group. You will receive communication directly from them in the coming weeks.

This includes the Zurich Portfolio which includes your Zurich ISA, Retirement Account or General Investment Account.

The Financial Conduct Authority (FCA) have approved Embark as the new owner of the business.

What’s happening?

Zurich have agreed to sell Sterling ISA Managers Limited (SIML) to Embark Group Limited. Your Zurich Portfolio is provided by SIML. The sale doesn’t impact any other Zurich products you may hold via us as your adviser. Zurich and Embark expect the sale to complete on 1 May 2020.

Will my Portfolio be affected?

No, your Portfolio won’t be impacted by the sale and your accounts will stay invested in the same funds or assets as they are today. Your accounts continue to be covered by the Financial Services Compensation Scheme (FSCS).

What happens when Embark take over?

Embark will take over the operation and provision of your Portfolio. It will be renamed the Advance Portfolio.

Your terms and conditions will be updated to reflect the purchase by Embark and change in ownership. They’ll be available at www.zurich.co.uk/support/Sale-to-Embark closer to the time of the change of ownership.

Does this change how you will manage my investments?

No, we will continue to manage your Portfolio and provide our service to you just as we do now.

Will my Retirement Account be affected?

If you have a Retirement Account within your Zurich Portfolio, the scheme rules relating to your Retirement Account won’t change. On 1 May 2020, your scheme will be renamed the ABE Personal Pension Scheme and the trustee of the scheme will be changed to Embark Trustees Limited.

Will this change the day to day running of my Portfolio?

No, Embark have confirmed that your account will continue to operate as it does now with all the same features and benefits. Your current Portfolio charge won’t increase and any payments you are making (e.g. Direct Debits) or income you are receiving from your Portfolio will stay the same.

Who is Embark?

The Embark Group provide a wide range of wealth and retirement solutions in the UK. They have over 300,000 customers and look after £33bn of assets for their customers.

Why are Zurich doing this?

Zurich is simplifying its UK business as part of a long-term strategy to focus on supporting customers in other areas, such as its life insurance business.

How can I find out more?

If you have any further questions or concerns, please get in touch with us and we will be happy to help.

You can find out more information about Embark Group on their website: www.embarkgroup.co.uk

Share this post:

Twitter Facebook LinkedIn E-mail
Previous Post: «Bramble sitting at desk Investment Update: For Omnis Graphene Clients
Next Post: The Spring Budget 2020 »

Footer

Social

  • Facebook
  • LinkedIn
  • Twitter

Contact

1 The Courtyard
Stype
Hungerford RG17 0RE

01488 682890
enquiries@browndogfp.co.uk

 

Navigation

  • Who we are
  • Why come to us
  • What we do
  • How we do it
  • Blog
  • Privacy Policy
  • Your Account

Site Footer

Registered in England. Company registered number 9699107.  Registered address 31A Charnham Street, Hungerford, RG17 0EJ

Brown Dog Financial Planning Limited is an appointed representative of Openwork Limited which is authorised and regulated by the Financial Conduct Authority.

The information on this website is for use of residents of the United Kingdom only. No representations are made as to whether the information is applicable or available in any other country which may have access to it.

Copyright © 2021 Brown Dog Financial Planning | Website by Callia Web

Copyright © 2021 Brown Dog Financial Planning · All Rights Reserved · Powered by Mai Theme