Will I have an electronic record of any correspondence or documents that I have previously received?

Yes.

Within the website you will have the ability to view and print electronic copies of correspondence we have sent you.

These can be located via your existing log in under the ‘Documents’ Section.

When instructing to withdraw a cash amount, can I choose which specific ETFs to sell?

No. We will sell the various holdings within your portfolio pro-rata in order to ensure that your remaining portfolio follows the strategy and asset allocation of the particular portfolio in which you are invested.

When do you normally trade and when will my money be invested?

Portfolio asset allocation or other changes may take place on any day as we seek to retain full flexibility to take advantage of exceptional opportunities.

Monies will normally be invested within one day of cash clearing.

What happens if I want to add more money or withdraw money or change portfolio?

In order to make withdrawals from your account/s, subject to the minimum daily withdrawal of £5,000 (or the equivalent in USD or EUR if investing in a USD or EUR portfolio) and the relevant minimum balances being kept within the account, please give us details of your request via a secure message.

In order to change the portfolio in which you are invested please send an email to enquiries@scmdirect.com

What are the principal fees and how are they charged?

Unlike many of our competitors, we believe in showing all the costs including the hidden dealing related costs and then add these costs together.

ANNUAL MANAGEMENT CHARGE: 0.4% + VAT 0.48% p.a.
Typical Underlying ETF cost 0.29% p.a.
Typical Trading costs 0.09% p.a.
Custody & Administration Fee 0.12% p.a.
Typical TOTAL COST of INVESTING 0.98% p.a.

You can find the full fee disclosure on our latest monthly factsheet (Link).

Is everything managed via an online platform?

Yes. Clients can view their portfolios and have full transparency of holdings online.

How do I transfer my ISA or SIPP to SCM Direct?

SCM Direct takes cash transfers into each tax wrapper. There is an online application process to create the SCM Direct wrapper and account information will be sent to your current provider for transfer to your required portfolio. Once funds have been transferred, they will be invested at the next allocation (normally, the first business day of every week).

Can I add to my investments using a debit or credit card?

Not at present.

How do I see the details of any transactions that have taken place against my account?

These can be located via your existing log in under the ‘Transactions’ (stock) and ‘Cash Statement’ pages.

How do I contact you and can I ask you questions before investing?

SCM Direct can be contacted at enquiries@scmdirect.com

How do I close my account and are there any penalties if I choose to do so?

No. Simply email us your instructions. We will undertake a number of checks to ensure your identity before acting on any instruction.

We believe it is your money, and as such you should not be penalised for changing your mind or if your circumstances change. Of course, the normal market-maker spreads, rate and other dealing related charges will apply.

As long as we receive your instruction by the close of business on the Thursday of any week, we will endeavour to close the account, on the first business day of the following week.

The monies will then ONLY be transferred to the account from which you funded your account.

The whole process from you sending the instruction, to receiving the cash back into your account, will normally take less than two weeks.

How do I change my postal address?

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

How do I change my bank account details?

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

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

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 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 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.

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