Last updated 12th August 2015
Read reviews for the Family Suntrust
Charges are subject to VAT although shown excluding VAT
Initial/Set up fee £550
Annual fee £745 plus £110 per participant, excluding minors
Transfer in fee None
Transfer out fee None
In-specie transfer in fee None
Taking benefits Flexi-Access Drawdown, £110 per crystallisation
Annual fee, £110
Capped Drawdown fee, £110 per crystallisation for existing plans
Capped Drawdown income review £110 per review
Annuity purchase fee None
Payment of death benefits fee None
Other fees Investment Fees:
There is no annual investment fee for funds invested in Elevate GIA, AXA Isle of Man Evolution Bond and the AXA Wealth TIP.
For all other investments there is a scheme level tiered charge of 0.25% of the fund value on funds up to £1million; plus 0.15% on the funds in excess of £1million.
ad-hoc work (eg pensions splitting, additional valuations, payment of tax charges) £110 per hour
Access: Direct or via IFA Via IFA only
Details Access to details of client’s holdings is only done via advisers. However, Family Suntrust funds can be invested through the Elevate GIA for Pension which offers online capability.
Commercial property Overseas property Unit trusts & OEICS External deposit accounts Overseas listed stock and shares all stockbrokers allowed
UK listed stocks and shares all stockbrokers allowed
AIM shares all stockbrokers allowed
Gilts/corporate bonds all stockbrokers allowed
ETFs all stockbrokers allowed
Investment trusts all stockbrokers allowed
Discretionary management limited panel of managers
National Savings & Investments
Unlisted shares Structured products Trustee Investment Plans Insurance company funds Hedge funds Traded endowment plans Intellectual property Brands / Trademarks Goodwill Third party loans
Purchase fee £950 plus VAT
Sale fee Annual property administration fee None (covered by the investment fee)
VAT registration fee None
VAT return fees None
Other fees Any essential ad-hoc work cost to be advised
SIPP Bank Account
SIPP bank account provider Bank of Scotland
Current interest rate The rate offered by Bank of Scotland (our banking partner) for Family Suntrust’s clients is 0.25% below the Bank of Scotland base rate. They will give us 3 months’ notice if the rate is to change.
Scheme trustees AXA Trustee Services Limited acts as the sole trustee.
Scheme administrator AXA Portfolio Services Limited
Regular payments £1,000
Transfers/Single Premiums £1,000
Min additional £1,000
Ownership AXA is a French “Société Anonyme à Directoire et Conseil de Surveillance” (a form of limited liability company with a Management Board and a Supervisory Board) existing under the laws of France. The Company’s registered office is located at 25 avenue Matignon, 75008 Paris, France and its telephone number is +33 (0) 1 40 75 57 00.
AXA was incorporated in 1957 but the origin of its activities goes back to 1852. The Company’s corporate existence will continue, subject to dissolution or prolongation, until December 31, 2059. The Company’s number in the Paris Trade Registry is 572 093 920.
AXA Wealth is a marketing brand used by companies in the AXA UK plc group of companies. AXA UK plc (trading as AXA UK) is part of the AXA Group. Its registered address is 5 Old Broad Street, London, EC2N 1AD (company registration number 2937724).
Year established 2009
Funds under management By the end of March 2015 (the last available data set we have), Family Suntrust had £936 million in assets under management.
Number of SIPPs administered By the end of March 2015 (the last available data set we have), Family Suntrust had 1,014 schemes under administration with a membership of 2,231
Defaqto rating Five Stars
Accepts benefits from defined benefit / final salary schemes? Yes, only if IFA advised
Flexi-Access Drawdown/UFPLS offered Flexi- Access Drawdown - Yes
UFPLS - No
Scheme Pension offered No