This information is only relevant for investors who use the Wealthtime platform. If you use the Wealthtime Classic Platform, please go to the relevant page for you.

Your cash account

Each of your accounts with us includes a cash facility. We require you to keep 2% of your total funds on our platform in cash, ready to be used for fees or withdrawals.

How we look after your money

We’re authorised and regulated by the Financial Conduct Authority (FCA). As part of this, we must have certain safeguards in place. The money and assets belonging to investors is ring-fenced, and kept separate from our company’s money. This means that in the unlikely event of our company failing, your money would be protected and safe from claims by creditors.
Any uninvested cash is held in client money accounts with our banking partners. We carefully select which banks we work with – carrying out due diligence checks on elements including financial strength and reputation. We assess our relationships with these banks on an ongoing basis to ensure your money is appropriately protected.

Spreading client money across several banks, rather than just using one, reduces exposure to any one institution. It also lessens the risk of cash being unavailable if any of the banks were to have technical problems. The Financial Services Compensation Scheme (FSCS) means that you may be entitled to compensation of up to £85,000 per banking license. Diversifying where we place client money means you may be covered for a larger amount than if we were to place all your money with one bank. However, this does depend on how much cash you hold, and how much is with each bank. Client money isn’t distributed equally across the banks and the amounts with each change regularly. And as the limit is per person, the £85,000 amount would include anything you held with the bank already.

Learn more about the FSCS here: www.fscs.org.uk

Interest on cash

▪ You need to hold 2% of the value of your invested funds in your Cash Account. We take charges from this amount. So, for example, if your portfolio on our platform is valued at £100,000, £2,000 will be held in your Cash Account.

▪ We’ll receive interest from our banking partners on the amount held in your Cash Account. We’ll pass some of this on to you, by adding it to your Cash Account.

▪ For example, if we receive 5% as interest on your Cash Account, we’ll retain 3% and add 2% to your Cash Account. So, if your Cash Account holds £2,000, over a year we’d receive £100, of which we retain £60 and add £40 into your Cash Account.

▪ As interest rates change, the amount of interest we receive and pass on to you may be different in the future.

▪ We use the interest we retain to invest in our platform to deliver good customer outcomes.

▪ We will not take our Annual Platform Charge on the value of any cash held in your Cash Account.

The table below shows the amount of interest we’ve received, retained and added to Cash Accounts in percentage terms, over the previous year. It also shows how much this would have been in monetary terms, if you had held £2,000 in your Cash Account over the year. These rates are informed by the HSBC savings rate and as such can change without notice.

Interest rates

Period	Interest we would have received	Interest we would have retained	Interest we would have added to Cash Accounts
01 Oct 23 – 31 Dec 23	5.23% (£105)	3.25% (£65)	1.98% (£40)
01 Jan 24 – 31 Mar 24	5.34% (£107)	3.36% (£67)	1.98% (£40)
01 Apr 24 – 30 Jun 24	5.28% (£106)	3.30% (£66)	1.98% (£40)
01 Jul 24 – 30 Sept 24	5.17% (£103)	3.19% (£63)	1.98% (£40)

Note: these figures have been rounded.

Interest will be payable monthly in arrears and will be paid on the 15th of the month or the next available working day, for example, interest accrued in October 2024 will be paid on the 15th of November 2024.