What is happening?

 

Legal & General is proposing to transfer the administration of its personal investing business to Financial Administration Services Limited (Fidelity).

Note: Our Self-Invested Personal Pension (SIPP) and workplace savings pension schemes are not transferring to Fidelity. If you hold one of these investments, they are not affected by this transfer.

The investments we are proposing to transfer are listed below:

  • Individual Savings Account (ISA)
  • Junior ISA
  • Flexible Mortgage ISA (FMISA)
  • Investment Account (also referred to as unit trust investments)
  • Cash ISA
  • Matured Fixed Term Investment (whether you originally invested through an ISA or an Investment Account)
  • Matured Fixed Term Deposit Investment (whether you originally invested through an ISA or an Investment Account)

Over the next few weeks, we will be sending all our personal investing customers an information pack with full details of our proposals. If you’re affected by this transfer, please ensure you read the information pack you receive carefully before you respond to us, so that you can make an informed decision about the future of your investment(s). If you have more than one product transferring to Fidelity, you may receive more than one information pack from us. Please read all the letters you receive about the proposed transfer because you may be affected differently depending on the type of investment you hold.

What does it mean for our customers?

From the date of the transfer, Fidelity will administer your investment(s), including any cash holdings you have.

Importantly, if you currently invest in any Legal & General funds, the proposed transfer will in no way affect the management of these underlying funds which will continue to be managed by Legal & General following the transfer.

 

 

When will the transfer take place?

We expect the transfer of investment(s) to take place in the second half of 2021.

What are your options?

As part of the process for transferring your investment(s) to Fidelity, you have some options. Please read PART D of the Important Information Booklet enclosed in the information pack that we are sending you for full details. You have three options.

 

Option 1

You consent to the transfer to Fidelity and we take care of the transfer arrangements

You can give us your consent in three simple ways:

  1. Click the link below to access our secure online consent portal, or
  2. Complete the personalised consent form we send you in your important information pack, or
  3. Call our telephone helpline on 0370 998 0010 or
    +44 2920 276 998 (international calls) – please have your information pack to hand when you call

Alternatively, if you don’t want to consent you have two further options:

Option 2

You choose an alternative provider and contact them to make your own transfer arrangements, or

Option 3

Alternatively, you may wish to sell your investments. Please note, this option is not available to Junior ISA holders.

 

 

Important documents

Next steps

Once we have received your consent to transfer your investment(s) to Fidelity, we will write to you again to confirm the exact date the transfer will take place and confirm the transfer arrangements.

A man working on a tablet.

Get in touch

If you have any questions about the proposed transfer to Fidelity, please call our telephone helpline on:

UK calls:

0370 998 0010

International calls:

+44 2920 276 998

Open Monday - Friday 9am-5pm. Call charges will vary. We will record and monitor calls.

Please have your information pack and your client number to hand when you call.

Please note that this helpline is for questions about the proposed transfer to Fidelity only. If you have any questions other than about the proposed transfer, please contact the customer services team in the usual way (see the contact details shown on your previous correspondence or contact us here.

Risk warning

Please remember the value of your investment and any income from it may fall as well as rise and is not guaranteed. You may get back less than you invest. Tax rules may change in the future and their tax advantages depend on your individual circumstances.