On 28 July 2017 your Asset Value Investors accounts will be closed and your British Empire Trust shares and/or cash will be transferred to a Halifax Share Dealing Account and/or Stocks and Shares ISA. This will mean that there are some changes to the way your account is operated, full details of which can be found on the Accounts page.
Following the letter you received, you have three options for your account:
No Action Required. Halifax Share Dealing will open a Halifax Share Dealing Account and/or ISA for you if required and confirm when this is available. You will have a new Account Code but your Personal Reference Number will remain the same. You need take no action yet and Halifax Share Dealing will write to you regarding this shortly.
Contact your chosen provider to initiate the request. Halifax Share Dealing must receive the transfer request by 21 July 2017. Requests received after this date will be returned for re submission under the new Halifax Share Dealing Account code, additional charges may apply.
Please note, your alternative provider may apply a fee when transferring your account.
If you do not transfer to another provider or sell your shares your account will be transferred to a Halifax Share Dealing Account and/or Stock and Shares ISA. We will write to you shortly regarding this.
This is primarily an online product so to begin investing you’ll need to log in or register using your Personal Reference Number which was quoted in your recent letter. If you are already registered to use the Halifax Share Dealing Online service your new account will appear automatically.
We will also send you a letter confirming your British Empire Trust shares and/or cash have been successfully transferred shortly after the 28 July 2017.
If you hold your shares in an ISA, this will be transferred to a Halifax Stocks and Shares ISA but there will be no change in ISA Manager. Any subscriptions made to your existing ISA held with AVI this tax year will be transferred to your new Halifax Stocks and Shares ISA.
Any regular investment or dividend reinvestment plans you have in place will cease from 27 July 2017; you will need to contact us if you wish to set up new instructions. We will let you know how to do this when we write to you again.
Please note that transferring to Halifax Share Dealing is the default option: any British Empire Trust shares and/or cash remaining in your AVI account on 28 July 2017 will be transferred automatically. Any regular investment, dividend reinvestment and/or dividend payment to your bank account instructions will cease on this date, and you'll need to set these up on your new Share Dealing Account and/or Stocks and Shares ISA if you wish for your account to continue to operate as before.
When your account is transferred to Halifax Share Dealing, there are some differences to how we manage your exiting account that we’d like you to know about.
Unless you choose otherwise, dividends are held as cash in your Share Dealing Account and/or Stocks and Shares ISA. You can select to have your dividends reinvested or cash paid directly to your bank account.
We have a range of guides to help you get the best use of the account both online and over the telephone.
Please remember that the value of an investment and the income from it can go down as well as up and you may get back less than you invested.
We don't provide advice so if you are in any doubt about buying and selling shares or making your own investment decisions we recommend you seek advice from a suitably qualified Financial Adviser.