In the relatively short space of time, the Internet has evolved how we run us. Supermarket bank online, order online, book our holidays online, and speak with our friends online. However, the net and financial technology can also be changing the way we invest our savings.

Technology, in the form of investment platforms, has reinvented the way we invest and you are in possession of much more flexibility and choice available at your fingertips. During the past you may have held pension plans with multiple pension providers, unit trusts with some other fund managers, and ISAs with many banks. Should you wanted to discover how your investment funds were performing, you needed to make contact with each provider therefore and wait for paper valuations to reach you from the post.

The net and financial technology have changed this. On this guide we are going to let you know that investment platforms provide you with with additional control over your investments, permitting you, and your adviser, to handle your savings in real time plus one place.

INVESTMENT PLATFORMS – THE CONTROLLED WAY TO INVEST
A good investment platform is rather just like having an individual account in which you place all your savings, it doesn’t matter what those savings are for. It also generates a more contemporary way of purchasing your adviser.

The very first thing you’ll do is go along with your adviser exactly what services you require and exactly how much you’ll pay of those services – after you are purchasing counsel you will get as an alternative to paying for products. Your adviser will offer advice and recommend funds coming from a array of fund managers you could hold on your platform. These funds bills you separately and will also be able to see how much you’re paying for investment management services.

The important thing good thing about utilizing a platform may be the keep it in check provides you with. You will see your investments in a single and, with your adviser’s help, trade funds as you can see fit. What’s more, everything is situated real-time. And you still reap the benefits of all of the relevant tax advantages that you simply always received by holding individual pension, ISA, and investment products.

HOW THINGS Was once
You almost certainly remember an occasion when, if you desired to invest, you’d probably check with a financial adviser who’d recommend certain investment products to suit your needs. You would then buy the investment product from a product provider (usually an insurer or bank) and make payments to the provider.

From these payments, your provider deducted charges to pay for your adviser and cover a unique costs before passing into your market to your chosen investment fund, typically managed by an in-house fund manager.

Even though this method was commonplace for decades, it lacked a certain transparency because you couldn’t pinpoint just what you had been paying for. It also lacked flexibility as you may use one provider for the pension savings, another on your ISA, and perhaps another for one time investment savings.

INVESTMENT PLATFORMS – THE TAX IMPLICATIONS
The government has, for a long time, incentivised certain savings behaviours by offering tax advantages. These advantages can apply to money you spend in, growth on your investments, money you’re taking out, or a mix of every one of these. Buying a platform changes nothing.

Although by using a platform you’ve all of your assets in one location instead of separate products, you notionally identify what exactly is pension investment, what is ISA investment, what is unit trust investment. You might sometimes understand this described as a tax wrapper, and it enables each part of your savings to get the best tax treatment. And that means you still benefit from each of the tax benefits of which you’re entitled; where you need to do should pay tax, you spend the correct amount.
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