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

Your cash account

Each of your products with us includes a product bank account facility. These accounts are not an investment vehicle. They are to allow receipt of funds, withdrawals, and fee management.

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 a client money account with our banking partner, Barclays. We carefully selected our banking partner, carrying out due diligence checks into elements including financial strength and reputation. We assess our relationship with Barclays on an ongoing basis to ensure your money is appropriately protected.

If anything were to go wrong, your money would be protected under the Financial Services Compensation Scheme (FSCS), up to a maximum of £85,000. Learn more about the FSCS here: www.fscs.org.uk

How we treat interest

How much interest will you receive on the cash you hold?

Interest, when due to clients, is credited quarterly. The interest rate paid to clients is informed by the rate earned on the Barclays account in which we hold client money. Wealthtime Select does not retain any of the interest.

We may receive interest from monies held in pooled accounts for transitional short periods before being allocated to clients and as an administrative necessity this will be taken as a charge. Therefore, assuming the bank interest rate is 3.5%, if you had £1,000 of your money transitioning through a pooled account for one day then we would receive approximately 10 pence. If you had £10,000 of your money transitioning through a pooled account for one day then we would receive approximately 96 pence. If you had £100,000 of your money transitioning through a pooled account for one day then we would receive approximately £9.59. These transitional periods are normally less than one day but can be two days for BACS and cheques will depend on the speed of clearance, which will normally be five days.

Interest rates

Period	Rate paid to investor
19 January 2023 – 8 March 2023	1.55%*
9 March 2023 – 26 April 2023	1.70%*
27 April 2023 – 10 August 2023	1.80%*
11 August 2023 – 31 Dec 2023	3.25%*
1 January 2024 – 29 February 2024	3.25%*
1 March 2024 – Ongoing	3.5%

*Please note, prior to 1 March 2023, Wealthtime Select would retain the first 0.25% of interest.

Interest will be payable quarterly in arrears on the first Monday of March, June, September and December, for the previous quarter, unless the first falls on a Monday in which case it’s on the eighth. For example, interest accrued in January 2024 will be paid in March 2024.

Liability to tax on interest is dependent on the product wrapper involved. Please consult the Wealthtime Select Terms and Conditions for more information.