What happens when Embark take over?
Embark will take over the operation and provision of your Portfolio. This will be renamed to be the Advance Portfolio. Your existing terms and conditions will be updated to reflect the purchase by Embark and change in ownership. You will be able to see the updated terms and conditions below when they are available. These will be effective from 1 May 2020 or if the date changes, these will be effective from the date of change which we’ll update in the ‘Latest updates’ section at the top of this page.
Will my Portfolio be affected?
No, your Portfolio won’t be impacted by the sale and your accounts will stay invested in the same funds or assets as they are today.
Your accounts continue to be covered by the Financial Services Compensation Scheme (FSCS).
Will this change the day to day running of my account?
No, Embark have confirmed your account options, benefits, rights and obligations won’t change and your Portfolio charge won’t increase.
Any payments you are making or income you are receiving from your Portfolio will stay the same.
Will anything change with my adviser?
No, your relationship with your adviser will not change and they will manage your Portfolio as they do today. We’ve let them know what’s happening and we will continue to support them until we hand over to Embark.
I don’t have an adviser. Does the sale change how I manage my Portfolio?
There are no changes to the way you manage your Portfolio or the team that supports you, who will be working for Embark. If you have online access, you’ll continue to access your account at www.myfinancialportfolio.co.uk
Will my Retirement Account be affected?
The scheme rules relating to your Retirement Account won’t change. On 1 May 2020, your scheme will be renamed the ABE Personal Pension Scheme and the trustee of the scheme will be changed to Embark Trustees Limited.