How can I withdraw cash from my account?

Requests should be sent to us via email to this address – enquiries@scmdirect.com

The minimum daily withdrawal is £5,000 (or the equivalent in USD or EUR if investing in a USD or EUR portfolio) although no partial withdrawal is permissible where this would take your portfolio account below the Minimum Investment set out below.

The Minimum Investment amounts are – £10,000 for a GBP portfolio (unless you are outside the UK or who bank outside the UK in which case it is £100,000), $100,000 for a USD portfolio and €100,000 for a EUR portfolio.

If you wish to close your account and withdraw the full amount, there is no penalty or lock-in clause or period. All normal dealing related costs would apply. Please remember, however, that you may not get back the full amount you invested due to market fluctuations.

How can I contact SCM Direct regarding my account?

SCM Direct can be contacted at enquiries@scmdirect.com

Does SCM Direct give any advice?

No. If you need any advice regarding the suitability of the various portfolios or any other advice specific to yourself and your personal financial needs, you need to seek advice from an Independent Financial Adviser.

 
We can answer general questions regarding the various investments within the portfolios but we cannot under any circumstances recommend the suitability of our portfolios.

Do I really need to diversify my investments?

It depends. Of course if you are looking to make huge returns, it is very unlikely you will ever achieve this through high levels of diversification but in the same way, high levels of diversification can help reduce economic and market shocks. In the famous story about the Tortoise and the Hare, the Tortoise wins the race even though the Hare got off to a great start! We are happy to be the Tortoise.

Can my investment lose money?

Yes. Nothing is guaranteed and markets and the income derived from investing can (and often do) go down as well as up. This is why we always recommend that you take at least a 5-year time horizon when investing, so you can ride the highs and lows without being forced to panic and sell at precisely the wrong time.

 
Our portfolios offer extensive diversification, which can reduce the overall volatility and downside associated with narrow, concentrated funds or portfolios.

Can I use your services if I am not a UK resident or do not bank in the UK?

Yes, as long as you are not a US citizen or resident in the US or have an obligation to pay tax to the US authorities on any of your worldwide income.
We will have to conduct thorough due diligence and money laundering checks, which would require you to send us documentation prior to investment. There is no guarantee that the very strict rules by which we operate will allow us to accept your investment.

 

The minimum initial investment for those outside the UK or who bank outside the UK are:

 

  • £100,000 if investing in one of the GBP £ portfolios
  • $100,000 if investing in one of the USD $ portfolios
  • €100,000 if investing in one of the EUR € portfolios

ISAs or SIPPs are not available outside the UK.

 

Please contact us at enquiries@scmdirect.com if you require further information.

Can I use your services if I am a Charity, Company or Family Office?

Yes – we will have to conduct thorough due diligence and money laundering checks, which will require you to send us documentation prior to investment. Due to the very high standards and checks we operate, there is no guarantee that we will be able to accept your investment.

 

The minimum initial investment for Company, Family Office, Charity or Institution is as follows:

 

  • £150,000 if investing in one of the GBP portfolios
  • $150,000 if investing in one of the USD portfolios
  • €150,000 if investing in one of the EUR portfolios

 

Please contact us at enquiries@scmdirect.com if you require further information.

Can I see all the holdings in my portfolio online (PC/tablet/smartphone)?

Yes. Using your existing log in your holdings are displayed under the ‘Portfolio Valuation’ heading.

Can I invest the £10,000 minimum for a GBP£ portfolio via an ISA (also known as a NISA) or SIPP?

Yes, there is a £10,000 minimum for the GBP Portfolio which applies to UK investors, over the age of 18, living in the UK with a UK Bank or Building Society Account, allowing investment in three ways:

 

  • Direct into the portfolios without a tax efficient wrapper
  • Via an Individual Savings Account – ISA
  • Via a Self-Invested Personal Pension – SIPP Account (Via Hubwise Securities Ltd)

 

Additional information about these two services can be found within the ‘Ways to Invest’ section of the scmdirect.wpengine.com website. If you want to invest via an existing SIPP, this may be possible if we have an existing agreement with your existing SIPP provider or if you are able to connect us with them – if this is the case, please contact us at enquiries@scmdirect.com.

Can I extract data from the website into another application such as Excel?

Yes. It is possible to download ETF or cash history. Select either of these menu items under ‘Manage my portfolio’ and select the ‘Download CSV’ button. This will open the transaction data in
Microsoft excel. It is important to note that SCM Direct is not responsible for the security of any information or data which you choose to extract and store yourself.

Can I change the portfolio in which I am invested?

Yes. You will need to send us a secure message instructing the portfolio to be sold and the new portfolio you wish to invest in.

You must ensure that the amount to be invested exceeds £10,000 for a GBP portfolio (if you are a UK investor with a UK bank account) otherwise it is £100,000, and it is $100,000 for a USD portfolio and €100,000 for a EUR portfolio.

Can I change my password online?

Not at present, requests to resent should be directed to enquiries@scmdirect.com.

We strongly recommend that you should NEVER invest in anything that you do not understand and with which you do not feel entirely comfortable.

We do not bombard anyone with daily reminders to invest or daily views of the markets as we think people should invest when it best suits them, if at all, rather than being bamboozled by sales calls.

Are there tax implications according to the currency of the portfolio I choose?

Yes. It is important to note that there may be tax differences for UK based investors from investing through either the USD $ or EUR € portfolios rather than the GBP £ portfolios since these will be buying US listed and European listed ETFs respectively, rather than UK listed ETFs. We will, wherever possible, select ETFs for the GBP £ portfolios that have ‘reporting status’ as these tend to be advantageous for many GBP taxpayers over those without ‘reporting status’.

Are there any documents I will need to complete offline?

This will vary from person to person. If you are resident and bank in the UK it may not be necessary to send any further documentation. However you may be asked to provide further evidence of your identity or bank details.

 
Any investors choosing a USD$ Portfolio will be required to complete a W8 – the W8 form is provided by the Internal Revenue Service (IRS) to allow non-US persons to receive a reduced rate of taxation on any US-sourced income (including dividends, interest etc.) received from businesses registered or incorporated within the US.

 
There may also be other paperwork as a result of the FATCA requirements (Foreign Account Tax Compliance ACT).

How should I choose which portfolio?

SCM Direct does NOT give personal advice so we cannot tell you which portfolio to invest in. If you are unsure or nervous about investing directly, you should seek the advice of an independent financial adviser.

 
Our provision of model portfolios does not involve us considering the investment requirements of individual clients. We manage the model portfolios according to their stated objectives of the portfolio(s) and within the various parameters detailed within our Terms and Conditions. If you are unsure or nervous about investing directly, you should seek the advice of an independent
financial adviser.

Can I invest via a Junior Individual savings Account (JISA)

Not at present.

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