The value of your investments and the income from them may go down as well as up, and you could get back less than you invested.

ISA

Everything you need to know about making the most of your clients’ flexi-ISA allowances on the 7IM Platform.

New clients

You can use our online application tool to open new accounts for clients quickly and without any paper. Please view the video to find out how to do this.

Please open all new accounts by Tuesday 30 March.

Cash should then be transferred to us using the payment details below by Tuesday 30 March. The ISA subscription will happen automatically the following day if a lump sum is added to the ISA funding section of the application.

Payment details

Where possible please ask clients to send money to us electronically by bank transfer to the account below. This avoids the need for post and the money will therefore be available sooner to invest. Where clients do have to send cheques, please see the details below.

To ensure we can identify the payment, please quote your full 7IM GIA reference when making your payments online.

Bank: ROYAL BANK OF SCOTLAND
Swift Code: RBOSGB2LXXX
Sort Code: 16-04-00
Account Number: 31266302
Account Name: Pershing Securities Ltd Client Hub Account

Cheques

Cheques should be made payable to Pershing Securities Limited and posted to 7IM, 55 Bishopsgate, London EC2N 3AS.

Please write the client’s 7IM GIA reference on the back of the cheque.

Please ensure we receive any cheques by Monday 29 March.

Existing clients

No further paperwork is required to top up an existing active 7IM ISA (see below note about a lapsed ISA).

Remember all new money should be deposited into the client’s GIA first and then subscribed into the ISA wrapper (see below).

Please transfer cash to us using the payment details below by Wednesday 31 March.

Payment details

Where possible please ask clients to send money to us electronically by bank transfer to the account below. This avoids the need for post and the money will therefore be available sooner to invest. Where clients do have to send cheques, please see the details below.

To ensure we can identify the payment, please quote your full 7IM GIA reference when making your payments online.

Bank: ROYAL BANK OF SCOTLAND
Swift Code: RBOSGB2LXXX
Sort Code: 16-04-00
Account Number: 31266302
Account Name: Pershing Securities Ltd Client Hub Account

Cheques

Cheques should be made payable to Pershing Securities Limited and posted to 7IM, 55 Bishopsgate, London EC2N 3AS.

Please write the client’s 7IM GIA reference on the back of the cheque.

Please ensure we receive any cheques by Monday 29 March.

Once the deposit is visible in the client’s GIA please use one of the following online tools available on our platform to make the ISA subscription:

  • Cash movements tool: Transactions > Cash Movements > Instruction. Please submit all instructions by 2.30pm on Thursday 01 April.
Cash Movement
  • Bed & ISA tool: Transactions > Bed & ISA > Instruction. Please view the video to find out how to do this. If you are using our bed & ISA tool to sell assets in a GIA to fund an ISA subscription, this should be done by 2.30pm on Friday 26 March.

Further ISA information

Please note that all forms can be signed electronically by your client using a recognised e-signature system such as Docusign or Adobe sign.

Flexi-ISA

Remember that 7IM ISAs are flexible, therefore clients can resubscribe any withdrawn monies from this tax year back into their ISA on top of their usual £20,000 allowance.

ISA Allowance Report

For a list of all your clients’ unused ISA allowances, you can download the Unused ISA Allowance report from our platform: Reports > Practice Administration

Lapsed ISA

To restart a lapsed ISA, where clients have not subscribed with 7IM in either this or last tax year, you will either need to:

  • email postroom@7im.co.uk a completed ISA declaration form by Wednesday 31 March and then process the ISA subscription online the following day; or
  • use our online bed & ISA online tool and confirm the declaration (we will write directly to your client to confirm this action). Please view the video to find out how to do this.
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