The past performance of an investment is not a guide to its future performance; the value of an investment and any income from it can go down as well as up. There is a risk that you could get back less than you invested. Find out more Below are some of the key features of the Premier Portfolio Management Service. All applications to invest must be made through an authorised financial adviser. We are unable to accept direct applications. Clients who no longer have a financial adviser, and do not appoint a new financial adviser, may have their accounts closed and their investments returned. We are unable to accept direct applications; all applications to invest must be through an authorised financial adviser. It is important this information is considered in conjunction with the Premier Portfolio Management Service Terms and Conditions before making an investment commitment. What is the minimum amount I can invest? You need to make an initial investment of at least £150,000 with a minimum of £50,000 held in a single portfolio. If you invest in a Premier portfolio through an investment platform, different minimum investment levels may apply. Some investment platforms may have minimum investment amounts starting at £1,000. How many portfolios can I invest in? You can invest in up to two Premier portfolios. What is the minimum amount I need to hold in my account? The minimum amount you must retain in your account is £150,000 with at least £50,000 in a portfolio. Can I take partial withdrawals from my investment? You can take partial withdrawals from your investment. The minimum amount is £10,000 and you must leave at least £50,000 invested in each portfolio and at least £150,000 invested in your account. You can take one free partial withdrawal in each calendar year; there is a charge of £200 for each subsequent withdrawal in the same calendar year. Can I switch money between Premier portfolios? You can switch money between portfolios at any time but there may be a charge. If you are not switching the full amount of your investment in a portfolio, you must leave at least £50,000 in that portfolio. You can make one change to your account for free in each calendar year. The charge for any subsequent changes in the same calendar year is £200. Can I make regular savings? You can make regular monthly (minimum £250 per month) or regular quarterly savings (minimum £750 per quarter) and it is free to set up this facility when you make your initial investment. You will need to set up a regular standing order with your bank or building society and arrange for payment to be transferred to us on the 8th of each month if you wish to make regular monthly savings, or the 8th January, April, July and October if you wish to make quarterly savings. You can change the amount of your regular savings at any time, subject to the minimum requirements, but there may be a charge. You can make one free change to your account in each calendar year. The charge for any subsequent changes in the same calendar year is £200. Can I top up my investment? In addition to regular savings, you can make single top-up investments at any time, subject to a minimum top-up investment of £10,000. There is no charge for making single top-up investments. Can I make a yearly Individual Savings Account (ISA) subscription? Subject to maintaining the minimum account and portfolio holding levels, you can choose to sign-up to a rolling ISA subscription when you make your initial investment application. This will be automatically raised from your general investment account of your selected portfolio each tax year. You can also make ad-hoc ISA subscriptions. Can I take regular withdrawals from my investment? You can take regular withdrawals from your investment. You can take these monthly (minimum £250) or quarterly (minimum £750) and it is free to set up this facility when you make your initial investment. You should receive your regular payments by the 20th of each month if the monthly withdrawal option is selected, or 20th January, April, July and October, if you have chosen to take quarterly withdrawals. Please note that if you take regular withdrawals greater than the dividends or investment growth generated by your portfolio, you could erode the value of your investment. If a regular withdrawal would take the value of your account below the minimum holding amount, we reserve the right not to action the transaction. You can change the amount of your regular withdrawal, at any time, subject to the minimum requirements, but there may be a charge. You can make one free change to your account in each calendar year; which can be a change to the level of your regular savings or regular withdrawals, a switch between portfolios or a combination of these changes at the same time. The charge for any subsequent changes in the same calendar year is £200. You should be aware that once you have reached the relevant ISA subscription limits for a tax year you may make no further subscriptions into your ISA, regardless of cash withdrawals from the account during that tax year. If I am invested in an income portfolio, how often is my income paid? Premier High Income, Premier Income and Premier Income & Growth portfolios aim to generate a regular income. You can choose to have any income generated by the portfolio paid monthly, where the underlying funds pay a monthly income, or quarterly. If you are investing directly with us, the income will be paid into your nominated bank or building society account by the 20th of each month if you choose monthly income payments, or by 20th January, April, July and October, if you have chosen to take quarterly payments. If you are investing via an investment platform, you will need to check the income payment dates that will apply. Income payments are not guaranteed and the amount paid to you will fluctuate. If you choose to receive income that is greater than the dividend distributions from the portfolios, you will have to cash-in some of your investment which will then reduce the value of your investment. You should be aware that once you have reached the relevant ISA subscription limits for a tax year you may make no further subscriptions into your ISA, regardless of cash withdrawals from the account during that tax year. When will I receive my first income payment? Your first income payment will typically be paid to you three months after your initial investment if you have selected the monthly income option, or up to six months after your initial investment if you have chosen the quarterly income option, on or before the dates provided in the following table, after which the regular payment dates will apply. Can I receive income from my growth portfolio? Although the growth portfolios do not aim to produce a regular income, the underlying Premier funds held may do so, which you can choose to either reinvest or have paid out to you. You can choose to take any income generated either monthly or quarterly, although there may be periods when there is no income produced. Expected first income payment date based on month of investment. If you invest through an investment platform, you should check with them how and when your income will be paid. Investment month* Income paid monthly Income paid quarterly January 20th April 20th April February 20th May 20th July March 20th June 20th July April 20th July 20th July May 20th August 20th October June 20th September 20th October July 20th October 20th October August 20th November 20th January September 20th December 20th January October 20th January 20th January November 20th February 20th April December 20th March 20th April *cleared funds invested prior to 10am on the last day of the month What happens if the value of my account falls below the minimum holding of £150,000? If you choose to take regular withdrawals that result in the value of your investment falling below the minimum amount of £150,000, we will ask you to top-up your account. A request to take a partial withdrawal will be rejected if this would reduce your account to below the minimum holding level of £150,000. Your account will be closed and your investment returned to you if the overall value remains below the minimum holding level. What happens if the value of one or more of my investment portfolios falls below the minimum holding of £50,000? If you take regular withdrawals that result in the value of your investment falling below the minimum amount of £50,000 in each portfolio, we will ask you to top-up your investment to the minimum level. However, if the portfolio falls below £50,000 because you are rolling into an ISA, we would not ask you to top up the portfolio. A request to take a partial withdrawal will be rejected if this would reduce the value of the portfolio, to below the minimum holding level of £50,000. Your portfolio may be closed and your investment returned to you if it remains below the minimum holding level. What happens if I no longer use the services of a financial adviser? It is only possible to be an investor in the Premier Portfolio Management Service if you are using the services of a financial adviser. If you change financial adviser after you invest, you need to advise us of this change as soon as possible, to make sure we facilitate any agreed payment of advisory fees to the correct company. If you no longer have a financial adviser to provide you with ongoing advice on the suitability of your portfolio, you will be unable to continue using the Premier Portfolio Management Service and we will have to close your account with us. We are unable to provide individual investment or tax advice but will provide you with details of your options, including switching your investment directly into Premier funds, or selling your investment and returning the monies to your nominated bank or building society, or to an alternative provider of your choice. How can I find out the value of my portfolio? If you invest directly with us, you can check the current value of your investment in the Premier Portfolio Management Service using our online valuation service. Alternatively, your financial adviser can provide you with updates on the value of your investment. We will send you a valuation statement twice a year, which you will typically receive in May and November, with information about your portfolio as at 5th April and 5th October. You can also visit our website for portfolio factsheets, which provide past performance information and a summary of how your portfolio is invested. How can I make a change to my portfolio, such as changing the regular withdrawal amount, or switching between portfolios? If you would like to make a change to your portfolio, such as topping-up your investment, or setting up a regular savings function, or switching between portfolios, you can do this by writing to us. Depending on how many other changes are made during the year a £200 charge may apply What if I want to close my account? If you would like to close your account, you will need to advise us of your request by writing to us. To protect your investment, we may contact you directly, before proceeding with your request. We will endeavour to close your account and return the proceeds to you within ten working days following receipt of your satisfactorily completed account closure request. This is subject to us having received appropriate proof of identity and residence, as required by the Anti-Money Laundering regulations and legislation. If we do not already have up-to-date information for you on our records, you will need to provide us with a certified copy of one document from both of the lists below. A current UK driving licence cannot be used to satisfy both requirements. Please do not submit any original documentation with regard to this request. As 'evidence of identity' (certified copy): Current passport Current UK driving licence As 'evidence of address' (certified copy): Current council tax bill Recent bank statement Recent utility bill Current UK driving licence Most recent state pension book or notification letter For evidence of address purposes, bank statements and utility bills are valid for a maximum of six months. Unfortunately, we are unable to accept verification printed from online accounts. Can Premier arrange for payment of agreed fees to my financial adviser from my account? On your initial application form, you can elect for your initial and ongoing advisory fees, agreed with your financial adviser, to be paid out of your account. You will need to write to us to let us know of any change, and you will be required to sign an agreement to fees instruction for any additional investments or changes to this arrangement. What should I do if my personal details change? It is important that you inform us immediately of any changes to your personal details, such as a change of address, or change of bank account, so that we can update our records. If you change your address, please advise us in writing, providing either a bank statement or utility bill (within the last six months) – mobile telephone bills and copies of bills printed from the internet cannot be accepted. The documents should either be originals or a copy certified by your solicitor or bank/building society manager. If you change your bank account, please advise us in writing and provide us with a certified copy/or original bank statement or a voided cheque or paying-in slip. You will need to complete a tax residency self-certification form if you no longer remain a UK resident. This will be sent to you once we are aware of the change in your circumstances. What happens to my investments if I die? On your death and following receipt of a death certificate, your (non-ISA) investments will be transferred to either your personal representatives or, as instructed by them after probate has been granted and proven or if you hold a joint account, your investments will be transferred to the surviving holder. The total value of your investments will form part of your estate for Inheritance Tax purposes. If an Individual Savings Account (ISA) is held, the tax-free status will be lost and no further tax credits can be reclaimed by us on your behalf. However, when an ISA holder dies, it is possible to pass on the value of the ISA at the date of death to the surviving spouse or civil partner via an additional permitted subscription. Your financial adviser will be able to provide you with further information.