Last updated12th August 2015

Reviews

Read reviews for the Family Suntrust

Charges

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 feeNone
Transfer out feeNone
In-specie transfer in feeNone
Taking benefitsFlexi-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 feeNone
Payment of death benefits feeNone
Other feesInvestment 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

Management

Access: Direct or via IFAVia IFA only

Online capability

DetailsAccess 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.

Permitted Investments

Commercial property
Overseas property
Unit trusts & OEICS
External deposit accounts
Overseas listed stock and sharesall stockbrokers allowed
UK listed stocks and sharesall stockbrokers allowed
AIM sharesall stockbrokers allowed
Gilts/corporate bondsall stockbrokers allowed
ETFsall stockbrokers allowed
Investment trustsall stockbrokers allowed
Discretionary managementlimited 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

Property purchase

Purchase fee£950 plus VAT
Sale fee
Annual property administration feeNone (covered by the investment fee)
VAT registration feeNone
VAT return feesNone
Other feesAny essential ad-hoc work cost to be advised

SIPP Bank Account

SIPP bank account providerBank of Scotland
Current interest rateThe 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.

Structure

Scheme trusteesAXA Trustee Services Limited acts as the sole trustee.
Scheme administratorAXA Portfolio Services Limited

Minimum contributions

Regular payments£1,000
Transfers/Single Premiums£1,000
Min additional£1,000

Company Information

OwnershipAXA 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 established2009
Funds under managementBy the end of March 2015 (the last available data set we have), Family Suntrust had £936 million in assets under management.
Number of SIPPs administeredBy 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 ratingFive Stars

Transfers

Accepts benefits from defined benefit / final salary schemes?Yes, only if IFA advised

Misc

Flexi-Access Drawdown/UFPLS offeredFlexi- Access Drawdown - Yes

UFPLS - No
Scheme Pension offeredNo
Notes