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General Dealing Accounts [GIA]

These are plain and simple accounts without any obvious tax benefits, because there is no tax relief within the account. However, this does mean that there are fewer limitations. For example, ISA & SIPP investment is limited to the annual allowance. A general investment account can hold most type of investments that can be traded electronically including VCTs, AIM shares and money market funds. The only limitations are those that the custodian applies to the services that they wish to offer.

Before electronic record keeping most investors held their investments in certificated form. Even today it is not unusual for clients to produce a large file full of certificates that they have bought or inherited over time. The problem for many investors is that as the certificates are updated, they worry about throwing the old ones away. Therefore, because they are not dated, after a while the investor ends up with half a dozen certificates for the same security. Holding your investments in a general investment account would simplify this as changes to the holding would update automatically. This includes other corporate actions like stock splits, mergers and bond maturities.

There are four further significant advantages to holding your investments electronically within your general dealing account:

  • Firstly; daily price fluctuations affecting your portfolio are not easily spotted unless you regularly review all of the holdings by checking the newspapers or other forms of media. By holding your investments in a general investment account with Raymond James you will be able to see their value by logging onto Raymond James Investor Access whenever you choose to.

  • Secondly; if you did realise that one of your investments needed to be sold, you would have to send the paperwork to your broker. With the nominee account, instructions to sell or buy can be made by phone to your Raymond James adviser and you would not have to start sending certificates in the post. As with certificates, you would receive a contract note for every trade. This also applies with an easy ability to transfer for gifting or estate settlement. Your executors would not need to search for share certificates and have them reissued.

  • Thirdly; certificated share dividends can be paid in cash or if you take scrip dividends, you will receive more share certificates. At the end of the tax year you have to collect all the tax vouchers and give them to your accountant. When Raymond James collects your dividends through the general investment account, whether cash or scrip, we provide you or your accountant with a consolidated tax voucher for all your investment held by us.

  • Fourthly; you will avoid the risks of loss, theft or accidental destruction of physical share and bond certificates. The cost of replacing these by indemnity can be high and sometimes more than the value of the shares held.
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The Mews, Queens Street, Colyton, Devon, EX24 6JU
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32 Rolle Street, Exmouth,
Devon EX8 2SH
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Briar House, Clyst Honiton, Exeter, Devon, EX5 2LZ
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Raymond James Investment Services Limited is a member of the London Stock Exchange and is authorised and regulated by the Financial Conduct Authority (Updated 13/09/2018). Registered in England and Wales No. 3779657. Registered office: Broadwalk House 5 Appold Street London EC2A2AG. | RAYMOND JAMES is a registered trademark of Raymond James Financial, Inc. | Legal Disclosures