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FAQs 

Frequently asked questions

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FAQs

Top 10

  • 1.

    What service can I expect now that Wealth Horizon has closed?

    While, Wealth Horizon ceased trading on the 6th of April 2021, Parmenion who are the custodians and administrators of your account, will continue to service your account going forward.

    From this date, unless you have appointed a new adviser, Parmenion will consider you to be an ‘unallocated client’. Please see our FAQ ‘What is an unallocated client’.

    As an ‘unallocated client’ you will not receive the same level of service as you received when Wealth Horizon was open.  These changes include;

    • You will no longer be able to receive financial advice
    • Yearly financial reviews will no longer be available
    • You will no longer be able to open a new account, subscribe to an ISA, top up an existing account or create a new Direct Debit
    • Transferring in other investments will no longer be possible
    • Your investment portfolio may no longer be rebalanced in keeping with your risk grade
    • Access to certain online tools will no longer be available, including ‘pay in cash lump sums’ and ‘review your financial details’

    Things that will not change

    • Parmenion will continue to be custodians and administrators of your investment
    • Your investment portfolio will continue to be invested at your current risk grade. However, as your investment portfolio may no longer be rebalanced, it is likely that the configuration of it will change over time, potentially leading to it no longer matching the asset allocation appropriate for your approach to risk
    • You will continue to have online access to Parmenion’s client site and receive digital quarterly investment reports
    • You will still be able to withdraw funds from your investment or transfer your investment away. However, you will no longer be able to do this by logging into your Wealth Horizon account online. For more information, please visit either of the following FAQs ;‘How do I withdraw funds from my account?’ or ‘How do I transfer my investment elsewhere?’.
    Close ×
  • 2.

    Why has Wealth Horizon closed?

    Wealth Horizon ceased trading on the 6th of April 2021. This decision has been taken as the business is no longer able to provide low cost advice support to our clients in the manner the business desires, due to an increasingly challenging economic climate.

    We at Wealth Horizon still believe that everyone can and should be able to benefit from regular financial advice at a reasonable cost.

    We appreciate every one of our valued customers and it has been our pleasure to serve you and support your financial goals.

    If you want to know what your options are, please visit the ‘What are my options now that Wealth Horizon has closed?’ FAQ or for full details of changes to the service, please visit the ‘What changes to the service can I expect now that Wealth Horizon has closed?’ FAQ.

    Close ×
  • 3.

    What are my options now that Wealth Horizon has closed ?

    As Wealth Horizon ceased trading on the 6th of April 2021, there are three options of how to manage your investment account going forward:

    • Transfer your investment to another investment or advice firm

    If you wish to transfer your investment to another provider, you will have to engage them first to begin this process, as they will initiate the transfer on your behalf.

    If you have an ISA and intend to move it elsewhere it is important that this is done correctly, to maintain its tax efficient status. If you withdraw your ISA to then invest in another ISA elsewhere, you may be disadvantaged as it will be liable to lose its tax efficient status.

    If you want ongoing advice on your investment, then transferring may be the best option for you.

    • Encash your investment

    If you no longer want to maintain your investment and also do not wish to transfer it elsewhere, then you can consider withdrawing your investment. By doing this, you will lose the benefits of the ISA wrapper.

    To request a withdrawal, you must send a request directly to Parmenion.

    Please see our FAQ ‘How do I withdraw funds from my account?’.

    Funds from your investment will be returned to your bank account in 7-10 working days.

    • Do nothing and maintain your investment with Parmenion

    While you are able to maintain your investment which is administered by Parmenion, they will consider you to be an unallocated client in line with their terms and conditions.

    Please see our FAQ ‘What is an unallocated client?

    Close ×
  • 4.

    How do I transfer my investment elsewhere?

    If you wish to transfer your investment to another adviser or investment provider, you will have to engage them first to begin this process, as they will initiate the transfer on your behalf.

    If you have an ISA, it is important that this transfer is done correctly to maintain its tax efficient status. If you withdraw the funds from your ISA to then invest in another ISA (or other investment) elsewhere, you may be disadvantaged as it will be liable to lose its tax efficient status.

    Once the transfer has been initiated and accepted, it will take 7-10 working days to transfer the funds to your new provider.

    There are no fees for withdrawing your investment or transferring it elsewhere.

    Close ×
  • 5.

    Who will be managing my investment now that Wealth Horizon has closed?

    Wealth Horizon ceased trading on the 6th of April 2021.

    From this date, unless you have appointed a new adviser, Parmenion will consider you to be an ‘unallocated client’ in line with their terms and conditions. As an unallocated client, your investment portfolio will no longer be managed or rebalanced, meaning it is likely that the configuration of it will change over time, potentially leading to it no longer being appropriate for your approach to risk.

    If you want to know what your options are, please review the ‘What are my options now that Wealth Horizon has closed?’ FAQ page.

    Close ×
  • 6.

    Private: What tools will I be able to access when I log in?

    Regretfully, Wealth Horizon will cease trading on the 6th of April 2021.

    To begin the process of winding down the business, from the 1st of February 2021, there will be changes to the service, full details of which can be found in our FAQ ‘What changes to the service can I expect?’.

    These changes will see the removal of the ‘investment tools’ you normally see.

    What tools will be removed?

    The list of tools that will be removed after the 1st of February include;

    • Pay in cash lump sums
    • Income from your investment
    • Manage monthly payments
    • Review your financial details
    • Your suitability report
    • Transfer between your investments
    • Transfer an investment
    • Withdraw money
    • Update you bank details

    From this date until the 6th of April 2021, if you want to withdraw money or update your personal details, you will need to send an email request to info@wealthhorizon.com, or send this directly to Parmenion.

    As Wealth Horizon will cease trading on the 6th of April 2021, all requests from this point will need to go directly to Parmenion.

    You can find contact details for Parmenion here.

    If you want to know what your options are, please review the ‘What are my options?’ FAQ page.

    Close ×
  • 7.

    What are the timescales of the service changing?

    On the 1st of January 2021 you will have paid your last ongoing advice fee for the Wealth Horizon service.

    From the 1st of February 2021, there will be significant changes to our service. A full breakdown of these changes can be found in our FAQ ‘What changes to the service can I expect?’.

    While we are able to accept ISA subscriptions up to the £20,000 allowance until the end of the tax year (5th April 2021), from the 1st of February 2021, these will be processed manually, rather than done through your online account. If this is something you would like to do please visit out FAQ ‘How do I make an ISA subscription this tax year (2020-2021)?’.

    Wealth Horizon will then cease trading on the 6th of April 2021. If you have not appointed a new adviser by this date, Parmenion will consider you to be an ‘unallocated client’ in line with their terms and conditions. As an unallocated client, your investment portfolio will no longer be managed or rebalanced, meaning it is likely that the configuration of it will change over time, potentially leading to it no longer being appropriate for your approach to risk. For more details on this please visit our FAQ ‘What is an unallocated client?’.

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  • 8.

    Private: Can I make an ISA subscription this tax year (2020-2021)?

    Regretfully, Wealth Horizon will cease trading on the 6th of April 2021.

    While there will be significant changes to our service from the 1st of February 2021, full details of which can be found in our FAQ ‘What changes to the service can I expect?’, we want to ensure that the closure of the business does not impact your ability to utilise you ISA subscription allowance for the remainder of the 2020-2021 tax year (ending 5th of April 2021). Therefore we will be able to accept ISA subscriptions up to the £20,000 allowance for the remainder of the tax year.

    From the 1st of February 2021 until the end of the 2020-2021 tax year, any ISA subscriptions will be processed manually, rather than done through your online account. If this is something you are keen to do, please email a clear request, either directly to your adviser/point of contact or by emailing info@wealthhorizon.com.

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  • 9.

    Private: I have residual cash left over from my original investment – what can I do?

    Regretfully, Wealth Horizon will cease trading on the 6th of April 2021.

    If we have contacted you stating that you have residual cash left in your investment account then it may be beneficial to log into your account to see how much remains in your account, which you can do here. If you have any issues logging in, you can either reset your password when prompted to log in or get in touch with us on the details below so that we can support you.

    Residual cash left in an old investment account can occur when dividend payments are returned after you have transferred or encashed your investment, which have then not been automatically transferred to your bank, usually as the amount remaining is relatively low.

    If you have residual cash left in your account, you have two options to get the money returned to you;

    • Any residual funds can be returned via bank transfer
    • We can transfer the residual funds to another service or advice firm

    Until the 6th of April 2021 we can help facilitate this process, so please contact us on 0800 122 3385 or by emailing info@wealthhorizon.com.

    From the 6th of April 2021 onwards any request will need to go directly to Parmenion. For support on this issue, please contact Parmenion’s client services team directly on 03300 945 900.

    Close ×
  • 10.

    What is an unallocated client?

    From the 6th of April 2021 when Wealth Horizon ceased trading, unless you have appointed a new adviser, Parmenion will consider you to be an ‘unallocated client’ in line with their terms and conditions.

    Parmenion as an investment platform work with financial advice firms, with all clients on the platform being required to appoint an adviser. Therefore, from this date, you will be unallocated as you will no longer be connected with an adviser.

    As an unallocated client, your investment portfolio will no longer be managed or rebalanced, meaning it is likely that the configuration of it will change over time, potentially leading to it no longer being appropriate for your approach to risk.

    Parmenion will be your point of contact regarding the administration of your investment, but they will only be able to offer limited support. You will continue to have online access to the client site to view your investment value and withdraw funds and will continuing to receive digital investment reports on a quarterly basis.

    Please be assured that the closure of Wealth Horizon service and becoming an unallocated client does not mean that your investment portfolio will discontinue or be disinvested. Your investment portfolio is administered by Parmenion, which is a separate business from Wealth Horizon, and they will continue to look after your investment until they receive an instruction from you to do otherwise.

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Advice

Can I still get financial advice now that Wealth Horizon has closed?

As Wealth Horizon has closed, you are no longer getting advice on the investment you hold with Parmenion. The 0.5% ongoing advice fee you were previously paying for this service has ceased, with the last payment being taken on the 1st of January 2021.

If you would like ongoing financial advice then you may wish to consider transferring your investment to another adviser. To do this, you will first need to engage another firm to begin this process, as they will initiate the transfer on your behalf.

We are unable to recommend another adviser, but you can visit Unbiased (www.unbiased.co.uk) which is a service that can help you find an independent financial adviser in your area. Also, the Money Advice Service (www.moneyadviceservice.org.uk) can provide guidance on a range of financial issues.

Close ×

Why has Wealth Horizon closed?

Wealth Horizon ceased trading on the 6th of April 2021. This decision has been taken as the business is no longer able to provide low cost advice support to our clients in the manner the business desires, due to an increasingly challenging economic climate.

We at Wealth Horizon still believe that everyone can and should be able to benefit from regular financial advice at a reasonable cost.

We appreciate every one of our valued customers and it has been our pleasure to serve you and support your financial goals.

If you want to know what your options are, please visit the ‘What are my options now that Wealth Horizon has closed?’ FAQ or for full details of changes to the service, please visit the ‘What changes to the service can I expect now that Wealth Horizon has closed?’ FAQ.

Close ×

What service can I expect now that Wealth Horizon has closed?

While, Wealth Horizon ceased trading on the 6th of April 2021, Parmenion who are the custodians and administrators of your account, will continue to service your account going forward.

From this date, unless you have appointed a new adviser, Parmenion will consider you to be an ‘unallocated client’. Please see our FAQ ‘What is an unallocated client’.

As an ‘unallocated client’ you will not receive the same level of service as you received when Wealth Horizon was open.  These changes include;

  • You will no longer be able to receive financial advice
  • Yearly financial reviews will no longer be available
  • You will no longer be able to open a new account, subscribe to an ISA, top up an existing account or create a new Direct Debit
  • Transferring in other investments will no longer be possible
  • Your investment portfolio may no longer be rebalanced in keeping with your risk grade
  • Access to certain online tools will no longer be available, including ‘pay in cash lump sums’ and ‘review your financial details’

Things that will not change

  • Parmenion will continue to be custodians and administrators of your investment
  • Your investment portfolio will continue to be invested at your current risk grade. However, as your investment portfolio may no longer be rebalanced, it is likely that the configuration of it will change over time, potentially leading to it no longer matching the asset allocation appropriate for your approach to risk
  • You will continue to have online access to Parmenion’s client site and receive digital quarterly investment reports
  • You will still be able to withdraw funds from your investment or transfer your investment away. However, you will no longer be able to do this by logging into your Wealth Horizon account online. For more information, please visit either of the following FAQs ;‘How do I withdraw funds from my account?’ or ‘How do I transfer my investment elsewhere?’.
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Assets

How long will it take to close my account?

Once your request is received, it will take 7-10 working days to return the funds from your investment to your bank account. Please see our FAQ ‘How do I withdraw funds from my account?’.

If you wish to transfer your investment to another adviser or investment provider, you will have to engage them first to begin this process, as they will initiate the transfer on your behalf. If you have an ISA it is important that this transfer is done correctly, to maintain its tax efficient status. If you encash/withdraw your ISA to then invest in another ISA elsewhere, you may be disadvantaged as it will be liable to lose its tax efficient status.

Once the transfer has been initiated and accepted, it will take 7-10 working days to transfer the funds to your new provider.

There are no fees for withdrawing your investment or transferring it elsewhere.

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How do I withdraw my money?

As Wealth Horizon ceased trading on the 6th of April 2021, all requests to withdraw money from your account will need to go directly to Parmenion and can no longer be made  by logging into your Wealth Horizon account online.

In order to withdraw funds from your account, you will need to post a request to Parmenion which includes;

  • A clear request (to withdraw a specific amount or full withdrawal)
  • Your account details (PCP number)
  • Full name and home address
  • Confirmation of the bank account details and how it should be sent
  • Your signature
  • A scanned copy of Photo ID document which includes your signature (passport or photo driving licence)

The bank details and home address you include must match the ones that Parmenion has on file for the requested to be actioned. If they are different, those details will need to be changed before the withdrawal can be processed. For information on how to change the address or bank details connected to the account, please see our FAQ ‘How do I change my contact or bank details?’.

Parmenion require a scanned copy of an ID document in order to verify your signature and be able to approve your request. Once this request is received and accepted, it should take between 7-10 working days to return the funds to your account.

If you require additional support with this request, please contact Parmenion’s client services team. You can find contact and address details for Parmenion here.

Please be aware that if you withdraw the funds from an ISA to then invest in another ISA (or other investment) elsewhere, you may be disadvantaged as it will be liable to lose its tax efficient status. In order to retain the benefits of the ISA wrapper, you would need to transfer ISA accounts ahead of encashing them, unless you are sure that you no longer want to invest the funds.

If you do want to transfer the funds from your ISA, is important that this transfer is done correctly to maintain its tax efficient status. Please visit our FAQ ‘How do I transfer my investment elsewhere?’. There are no fees for withdrawing your investment or transferring it elsewhere.

Close ×

What are my options now that Wealth Horizon has closed ?

As Wealth Horizon ceased trading on the 6th of April 2021, there are three options of how to manage your investment account going forward:

  • Transfer your investment to another investment or advice firm

If you wish to transfer your investment to another provider, you will have to engage them first to begin this process, as they will initiate the transfer on your behalf.

If you have an ISA and intend to move it elsewhere it is important that this is done correctly, to maintain its tax efficient status. If you withdraw your ISA to then invest in another ISA elsewhere, you may be disadvantaged as it will be liable to lose its tax efficient status.

If you want ongoing advice on your investment, then transferring may be the best option for you.

  • Encash your investment

If you no longer want to maintain your investment and also do not wish to transfer it elsewhere, then you can consider withdrawing your investment. By doing this, you will lose the benefits of the ISA wrapper.

To request a withdrawal, you must send a request directly to Parmenion.

Please see our FAQ ‘How do I withdraw funds from my account?’.

Funds from your investment will be returned to your bank account in 7-10 working days.

  • Do nothing and maintain your investment with Parmenion

While you are able to maintain your investment which is administered by Parmenion, they will consider you to be an unallocated client in line with their terms and conditions.

Please see our FAQ ‘What is an unallocated client?

Close ×

What is an unallocated client?

From the 6th of April 2021 when Wealth Horizon ceased trading, unless you have appointed a new adviser, Parmenion will consider you to be an ‘unallocated client’ in line with their terms and conditions.

Parmenion as an investment platform work with financial advice firms, with all clients on the platform being required to appoint an adviser. Therefore, from this date, you will be unallocated as you will no longer be connected with an adviser.

As an unallocated client, your investment portfolio will no longer be managed or rebalanced, meaning it is likely that the configuration of it will change over time, potentially leading to it no longer being appropriate for your approach to risk.

Parmenion will be your point of contact regarding the administration of your investment, but they will only be able to offer limited support. You will continue to have online access to the client site to view your investment value and withdraw funds and will continuing to receive digital investment reports on a quarterly basis.

Please be assured that the closure of Wealth Horizon service and becoming an unallocated client does not mean that your investment portfolio will discontinue or be disinvested. Your investment portfolio is administered by Parmenion, which is a separate business from Wealth Horizon, and they will continue to look after your investment until they receive an instruction from you to do otherwise.

Close ×

Can I continue to invest now that Wealth Horizon has closed?

Wealth Horizon ceased trading on the 6th of April 2021.

From this date, unless you have appointed a new adviser, Parmenion will consider you to be an ‘unallocated client’ in line with their terms and conditions. As an unallocated client, you will no longer be able to open a new account, subscribe to an ISA, top up an existing account or create a new Direct Debit Your investment portfolio will also no longer be managed or rebalanced, meaning it is likely that the configuration of it will change over time, potentially leading to it no longer being appropriate for your approach to risk.

Full details of the service you will receive as an ‘unallocated client’ can be found in the FAQ ‘What service can I expect now that Wealth Horizon has closed?’.

Close ×

Where can I transfer to?

If you wish to transfer your investment to another adviser or investment provider, you will have to engage them first to begin this process, as they will initiate the transfer on your behalf.

Whilst we are unable to recommend another Financial Adviser or Investment Provider, we would suggest that you visit;

  • Unbiased (www.unbiased.co.uk), which is a service which can help you find an independent financial adviser in your area
  • Money Advice Service (www.moneyadviceservice.org.uk), who can provide support and guidance on a range of financial issues
Close ×

Who will be managing my investment now that Wealth Horizon has closed?

Wealth Horizon ceased trading on the 6th of April 2021.

From this date, unless you have appointed a new adviser, Parmenion will consider you to be an ‘unallocated client’ in line with their terms and conditions. As an unallocated client, your investment portfolio will no longer be managed or rebalanced, meaning it is likely that the configuration of it will change over time, potentially leading to it no longer being appropriate for your approach to risk.

If you want to know what your options are, please review the ‘What are my options now that Wealth Horizon has closed?’ FAQ page.

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What assets am I investing in?

The investments that sit within our portfolios may include:

  • Collective investment vehicles
  • Unit trusts
  • Open Ended Investment Companies (OEICs)
  • Fixed interest securities
  • Cash

These are non-complex investment products. Our investment managers are free to select whichever mix are best suited to meet your risk grade. Full details of those selected for you are provided part way through this service in your Investment Proposal.

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Fees

Do I have to pay to withdraw or transfer or my investment?

There are no fees for withdrawing your investment or transferring it elsewhere.

As your investment portfolio is administered by Parmenion, who are separate from Wealth Horizon, your investment will continue until Parmenion has an instruction from you to do otherwise.

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Can I still get financial advice now that Wealth Horizon has closed?

As Wealth Horizon has closed, you are no longer getting advice on the investment you hold with Parmenion. The 0.5% ongoing advice fee you were previously paying for this service has ceased, with the last payment being taken on the 1st of January 2021.

If you would like ongoing financial advice then you may wish to consider transferring your investment to another adviser. To do this, you will first need to engage another firm to begin this process, as they will initiate the transfer on your behalf.

We are unable to recommend another adviser, but you can visit Unbiased (www.unbiased.co.uk) which is a service that can help you find an independent financial adviser in your area. Also, the Money Advice Service (www.moneyadviceservice.org.uk) can provide guidance on a range of financial issues.

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Online Investment

Can I set up a new Direct Debit?

Wealth Horizon ceased trading on the 6th of April 2021.

From this date, unless you have appointed a new adviser, Parmenion will consider you to be an ‘unallocated client’ in line with their terms and conditions. As an unallocated client, you will no longer be able to create a new Direct Debit.

Full details of the service you will receive as an ‘unallocated client’ can be found in the FAQ ‘What service can I expect now that Wealth Horizon has closed?’.

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I have a monthly Direct Debit – can this continue?

Any Direct Debit set up before the 1st of February 2021 will continue until Parmenion receives an instruction to cancel it. After this date, no new direct debits can be created and the only amendments that can be made to a current direct debits is to maintain it as it is or to cancel it, you will not be able to increase or reduce the amount.

From the 6th of April 2021, unless you have appointed a new adviser, Parmenion will consider you to be an ‘unallocated client’ in line with their terms and conditions. Please be aware that as an ‘unallocated client’ , existing direct debits will continue to be taken and added to your investment, but they may not be automatically invested. For support on this issue, please contact Parmenion’s client services team directly on 03300 945 900.

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Can I continue to invest now that Wealth Horizon has closed?

Wealth Horizon ceased trading on the 6th of April 2021.

From this date, unless you have appointed a new adviser, Parmenion will consider you to be an ‘unallocated client’ in line with their terms and conditions. As an unallocated client, you will no longer be able to open a new account, subscribe to an ISA, top up an existing account or create a new Direct Debit Your investment portfolio will also no longer be managed or rebalanced, meaning it is likely that the configuration of it will change over time, potentially leading to it no longer being appropriate for your approach to risk.

Full details of the service you will receive as an ‘unallocated client’ can be found in the FAQ ‘What service can I expect now that Wealth Horizon has closed?’.

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Am I able to remain invested now that Wealth Horizon has closed?

The closure of the Wealth Horizon service on the 6th of April 2021 does not mean that your investment portfolio will discontinue or be disinvested. Your investment portfolio is administered by Parmenion, which is a separate business from Wealth Horizon, and they will continue to look after your investment until they receive an instruction from you to do otherwise.

From this date, unless you have appointed a new adviser, Parmenion will consider you to be an ‘unallocated client’. Please see our FAQ ‘What is an unallocated client’.

As an unallocated client,  your investment portfolio will continue to be invested at your current risk grade, however, your investment portfolio will no longer be rebalanced it is likely that the configuration of it will change over time, potentially leading to it no longer match the asset allocation appropriate for your approach to risk.

Full details of the service you will receive as an ‘unallocated client’ can be found in the FAQ ‘What service can I expect now that Wealth Horizon has closed?’.

Close ×

Can I make an ISA subscription this tax year (2021-2022)?

Wealth Horizon ceased trading on the 6th of April.

From this date, unless you have appointed a new adviser, Parmenion will consider you to be an ‘unallocated client’. Please see our FAQ ‘What is an unallocated client’.

As an unallocated client, you will no longer be able to open a new account, subscribe to an ISA, top up an existing account or create a new Direct Debit.

Full details of the service you will receive as an ‘unallocated client’ can be found in the FAQ ‘What service can I expect now that Wealth Horizon has closed?’.

Close ×

What service can I expect now that Wealth Horizon has closed?

While, Wealth Horizon ceased trading on the 6th of April 2021, Parmenion who are the custodians and administrators of your account, will continue to service your account going forward.

From this date, unless you have appointed a new adviser, Parmenion will consider you to be an ‘unallocated client’. Please see our FAQ ‘What is an unallocated client’.

As an ‘unallocated client’ you will not receive the same level of service as you received when Wealth Horizon was open.  These changes include;

  • You will no longer be able to receive financial advice
  • Yearly financial reviews will no longer be available
  • You will no longer be able to open a new account, subscribe to an ISA, top up an existing account or create a new Direct Debit
  • Transferring in other investments will no longer be possible
  • Your investment portfolio may no longer be rebalanced in keeping with your risk grade
  • Access to certain online tools will no longer be available, including ‘pay in cash lump sums’ and ‘review your financial details’

Things that will not change

  • Parmenion will continue to be custodians and administrators of your investment
  • Your investment portfolio will continue to be invested at your current risk grade. However, as your investment portfolio may no longer be rebalanced, it is likely that the configuration of it will change over time, potentially leading to it no longer matching the asset allocation appropriate for your approach to risk
  • You will continue to have online access to Parmenion’s client site and receive digital quarterly investment reports
  • You will still be able to withdraw funds from your investment or transfer your investment away. However, you will no longer be able to do this by logging into your Wealth Horizon account online. For more information, please visit either of the following FAQs ;‘How do I withdraw funds from my account?’ or ‘How do I transfer my investment elsewhere?’.
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Can I withdraw from an ISA?

You can take money out of your ISA whenever you want. You should remember, however, that when you withdraw money from your ISA, part of the allowance remains used. This means, for example, that if you reach the ISA limit and then make a withdrawal, the money cannot be put back in.

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How are my investments and money looked after?

In order to provide advice to you and in making recommendations we undertake a thorough due diligence process. As a result of our extensive due diligence we selected Parmenion to provide the administration and investment management that supports our online advice service. Parmenion is a wholly owned subsidiary of Aberdeen Asset Management PLC and Aberdeen Investments Limited.

Parmenion do not take on clients directly, but only offer investment and administration solutions through professional wealth management and financial planning firms. Like us, they are authorised and regulated by the Financial Conduct Authority.  Under FRN:  462085

Client Money:

Parmenion will hold all your investment money as client money in accordance with the rules of the Financial Conduct Authority which, amongst other things, requires them to hold money in a client bank account, established with statutory trust status. All funds are segregated from Parmenion’s own funds at an approved bank. Cash received in a currency other than sterling will be converted to sterling at a rate determined by Parmenion at the time. This additional process may cause a delay in crediting the account with the sterling proceeds before investment can be made.

All monies will be held with the money of other clients in a pooled account in the name of Parmenion Capital Partners LLP A/C, held as a common pool but as a ‘Client Account’. Your cash and investment are always held separately from Parmenions own accounts. In the unlikely event that Parmenion fails financially, your cash and assets will remain yours and any administration will be obliged to return them to you.

If Parmenion fails, broadly speaking, all client money held by them in client money bank accounts is pooled and then distributed to clients on a pro-rata basis in accordance with individual client entitlements to the client money pool in general. Were there to be a shortfall in the total amount of client money held in trust accounts, held by Parmenion, you would also share in a proportion of any shortfall.

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Portfolio

Can I continue to invest now that Wealth Horizon has closed?

Wealth Horizon ceased trading on the 6th of April 2021.

From this date, unless you have appointed a new adviser, Parmenion will consider you to be an ‘unallocated client’ in line with their terms and conditions. As an unallocated client, you will no longer be able to open a new account, subscribe to an ISA, top up an existing account or create a new Direct Debit Your investment portfolio will also no longer be managed or rebalanced, meaning it is likely that the configuration of it will change over time, potentially leading to it no longer being appropriate for your approach to risk.

Full details of the service you will receive as an ‘unallocated client’ can be found in the FAQ ‘What service can I expect now that Wealth Horizon has closed?’.

Close ×

Where can I transfer to?

If you wish to transfer your investment to another adviser or investment provider, you will have to engage them first to begin this process, as they will initiate the transfer on your behalf.

Whilst we are unable to recommend another Financial Adviser or Investment Provider, we would suggest that you visit;

  • Unbiased (www.unbiased.co.uk), which is a service which can help you find an independent financial adviser in your area
  • Money Advice Service (www.moneyadviceservice.org.uk), who can provide support and guidance on a range of financial issues
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How do I transfer my investment elsewhere?

If you wish to transfer your investment to another adviser or investment provider, you will have to engage them first to begin this process, as they will initiate the transfer on your behalf.

If you have an ISA, it is important that this transfer is done correctly to maintain its tax efficient status. If you withdraw the funds from your ISA to then invest in another ISA (or other investment) elsewhere, you may be disadvantaged as it will be liable to lose its tax efficient status.

Once the transfer has been initiated and accepted, it will take 7-10 working days to transfer the funds to your new provider.

There are no fees for withdrawing your investment or transferring it elsewhere.

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Can I still get financial advice now that Wealth Horizon has closed?

As Wealth Horizon has closed, you are no longer getting advice on the investment you hold with Parmenion. The 0.5% ongoing advice fee you were previously paying for this service has ceased, with the last payment being taken on the 1st of January 2021.

If you would like ongoing financial advice then you may wish to consider transferring your investment to another adviser. To do this, you will first need to engage another firm to begin this process, as they will initiate the transfer on your behalf.

We are unable to recommend another adviser, but you can visit Unbiased (www.unbiased.co.uk) which is a service that can help you find an independent financial adviser in your area. Also, the Money Advice Service (www.moneyadviceservice.org.uk) can provide guidance on a range of financial issues.

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Who will be managing my investment now that Wealth Horizon has closed?

Wealth Horizon ceased trading on the 6th of April 2021.

From this date, unless you have appointed a new adviser, Parmenion will consider you to be an ‘unallocated client’ in line with their terms and conditions. As an unallocated client, your investment portfolio will no longer be managed or rebalanced, meaning it is likely that the configuration of it will change over time, potentially leading to it no longer being appropriate for your approach to risk.

If you want to know what your options are, please review the ‘What are my options now that Wealth Horizon has closed?’ FAQ page.

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What service can I expect now that Wealth Horizon has closed?

While, Wealth Horizon ceased trading on the 6th of April 2021, Parmenion who are the custodians and administrators of your account, will continue to service your account going forward.

From this date, unless you have appointed a new adviser, Parmenion will consider you to be an ‘unallocated client’. Please see our FAQ ‘What is an unallocated client’.

As an ‘unallocated client’ you will not receive the same level of service as you received when Wealth Horizon was open.  These changes include;

  • You will no longer be able to receive financial advice
  • Yearly financial reviews will no longer be available
  • You will no longer be able to open a new account, subscribe to an ISA, top up an existing account or create a new Direct Debit
  • Transferring in other investments will no longer be possible
  • Your investment portfolio may no longer be rebalanced in keeping with your risk grade
  • Access to certain online tools will no longer be available, including ‘pay in cash lump sums’ and ‘review your financial details’

Things that will not change

  • Parmenion will continue to be custodians and administrators of your investment
  • Your investment portfolio will continue to be invested at your current risk grade. However, as your investment portfolio may no longer be rebalanced, it is likely that the configuration of it will change over time, potentially leading to it no longer matching the asset allocation appropriate for your approach to risk
  • You will continue to have online access to Parmenion’s client site and receive digital quarterly investment reports
  • You will still be able to withdraw funds from your investment or transfer your investment away. However, you will no longer be able to do this by logging into your Wealth Horizon account online. For more information, please visit either of the following FAQs ;‘How do I withdraw funds from my account?’ or ‘How do I transfer my investment elsewhere?’.
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What assets am I investing in?

The investments that sit within our portfolios may include:

  • Collective investment vehicles
  • Unit trusts
  • Open Ended Investment Companies (OEICs)
  • Fixed interest securities
  • Cash

These are non-complex investment products. Our investment managers are free to select whichever mix are best suited to meet your risk grade. Full details of those selected for you are provided part way through this service in your Investment Proposal.

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Your account

How do I change my contact or bank details

As Wealth Horizon ceased trading on the 6th of April 2021, all requests to change contact or bank details associated with your account will need to go directly to Parmenion and can no longer be by logging into your Wealth Horizon account online.

There are two different ways to change your contact/bank details.

  1. Docusign –

The quickest way to change your details is to contact Parmenion’s client services team and request that they send a Docusign form to your email address (the one they hold on file). A Docusign form is an online document where you can change your contact or bank details, and verify the change with an e-signature.

You can contact Parmenion’s client services team on 0117 204 7678.

  1. Letter with signature

Otherwise, you can post a request to change your details to Parmenion. This request letter must include;

  • A clear request (to change the details they hold on file)
  • Your account details (PCP number)
  • Full name and home address
  • What the previous details were and what they have changed to
  • Your wet (not digital) signature
  • A scanned copy of Photo ID document which includes your signature (passport or photo driving licence)

Parmenion require a scanned copy of an ID document in order to verify your signature and be able to approve your request. Once this request is received and accepted, it should take between 7-10 working days to return the funds to your account.

If you require additional support with this request, please contact Parmenion’s client services team. You can find contact and address details for Parmenion here.

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How long will it take to close my account?

Once your request is received, it will take 7-10 working days to return the funds from your investment to your bank account. Please see our FAQ ‘How do I withdraw funds from my account?’.

If you wish to transfer your investment to another adviser or investment provider, you will have to engage them first to begin this process, as they will initiate the transfer on your behalf. If you have an ISA it is important that this transfer is done correctly, to maintain its tax efficient status. If you encash/withdraw your ISA to then invest in another ISA elsewhere, you may be disadvantaged as it will be liable to lose its tax efficient status.

Once the transfer has been initiated and accepted, it will take 7-10 working days to transfer the funds to your new provider.

There are no fees for withdrawing your investment or transferring it elsewhere.

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How do I withdraw my money?

As Wealth Horizon ceased trading on the 6th of April 2021, all requests to withdraw money from your account will need to go directly to Parmenion and can no longer be made  by logging into your Wealth Horizon account online.

In order to withdraw funds from your account, you will need to post a request to Parmenion which includes;

  • A clear request (to withdraw a specific amount or full withdrawal)
  • Your account details (PCP number)
  • Full name and home address
  • Confirmation of the bank account details and how it should be sent
  • Your signature
  • A scanned copy of Photo ID document which includes your signature (passport or photo driving licence)

The bank details and home address you include must match the ones that Parmenion has on file for the requested to be actioned. If they are different, those details will need to be changed before the withdrawal can be processed. For information on how to change the address or bank details connected to the account, please see our FAQ ‘How do I change my contact or bank details?’.

Parmenion require a scanned copy of an ID document in order to verify your signature and be able to approve your request. Once this request is received and accepted, it should take between 7-10 working days to return the funds to your account.

If you require additional support with this request, please contact Parmenion’s client services team. You can find contact and address details for Parmenion here.

Please be aware that if you withdraw the funds from an ISA to then invest in another ISA (or other investment) elsewhere, you may be disadvantaged as it will be liable to lose its tax efficient status. In order to retain the benefits of the ISA wrapper, you would need to transfer ISA accounts ahead of encashing them, unless you are sure that you no longer want to invest the funds.

If you do want to transfer the funds from your ISA, is important that this transfer is done correctly to maintain its tax efficient status. Please visit our FAQ ‘How do I transfer my investment elsewhere?’. There are no fees for withdrawing your investment or transferring it elsewhere.

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What are my options now that Wealth Horizon has closed ?

As Wealth Horizon ceased trading on the 6th of April 2021, there are three options of how to manage your investment account going forward:

  • Transfer your investment to another investment or advice firm

If you wish to transfer your investment to another provider, you will have to engage them first to begin this process, as they will initiate the transfer on your behalf.

If you have an ISA and intend to move it elsewhere it is important that this is done correctly, to maintain its tax efficient status. If you withdraw your ISA to then invest in another ISA elsewhere, you may be disadvantaged as it will be liable to lose its tax efficient status.

If you want ongoing advice on your investment, then transferring may be the best option for you.

  • Encash your investment

If you no longer want to maintain your investment and also do not wish to transfer it elsewhere, then you can consider withdrawing your investment. By doing this, you will lose the benefits of the ISA wrapper.

To request a withdrawal, you must send a request directly to Parmenion.

Please see our FAQ ‘How do I withdraw funds from my account?’.

Funds from your investment will be returned to your bank account in 7-10 working days.

  • Do nothing and maintain your investment with Parmenion

While you are able to maintain your investment which is administered by Parmenion, they will consider you to be an unallocated client in line with their terms and conditions.

Please see our FAQ ‘What is an unallocated client?

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Do I have to pay to withdraw or transfer or my investment?

There are no fees for withdrawing your investment or transferring it elsewhere.

As your investment portfolio is administered by Parmenion, who are separate from Wealth Horizon, your investment will continue until Parmenion has an instruction from you to do otherwise.

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What is an unallocated client?

From the 6th of April 2021 when Wealth Horizon ceased trading, unless you have appointed a new adviser, Parmenion will consider you to be an ‘unallocated client’ in line with their terms and conditions.

Parmenion as an investment platform work with financial advice firms, with all clients on the platform being required to appoint an adviser. Therefore, from this date, you will be unallocated as you will no longer be connected with an adviser.

As an unallocated client, your investment portfolio will no longer be managed or rebalanced, meaning it is likely that the configuration of it will change over time, potentially leading to it no longer being appropriate for your approach to risk.

Parmenion will be your point of contact regarding the administration of your investment, but they will only be able to offer limited support. You will continue to have online access to the client site to view your investment value and withdraw funds and will continuing to receive digital investment reports on a quarterly basis.

Please be assured that the closure of Wealth Horizon service and becoming an unallocated client does not mean that your investment portfolio will discontinue or be disinvested. Your investment portfolio is administered by Parmenion, which is a separate business from Wealth Horizon, and they will continue to look after your investment until they receive an instruction from you to do otherwise.

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Can I set up a new Direct Debit?

Wealth Horizon ceased trading on the 6th of April 2021.

From this date, unless you have appointed a new adviser, Parmenion will consider you to be an ‘unallocated client’ in line with their terms and conditions. As an unallocated client, you will no longer be able to create a new Direct Debit.

Full details of the service you will receive as an ‘unallocated client’ can be found in the FAQ ‘What service can I expect now that Wealth Horizon has closed?’.

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I have a monthly Direct Debit – can this continue?

Any Direct Debit set up before the 1st of February 2021 will continue until Parmenion receives an instruction to cancel it. After this date, no new direct debits can be created and the only amendments that can be made to a current direct debits is to maintain it as it is or to cancel it, you will not be able to increase or reduce the amount.

From the 6th of April 2021, unless you have appointed a new adviser, Parmenion will consider you to be an ‘unallocated client’ in line with their terms and conditions. Please be aware that as an ‘unallocated client’ , existing direct debits will continue to be taken and added to your investment, but they may not be automatically invested. For support on this issue, please contact Parmenion’s client services team directly on 03300 945 900.

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Can I continue to invest now that Wealth Horizon has closed?

Wealth Horizon ceased trading on the 6th of April 2021.

From this date, unless you have appointed a new adviser, Parmenion will consider you to be an ‘unallocated client’ in line with their terms and conditions. As an unallocated client, you will no longer be able to open a new account, subscribe to an ISA, top up an existing account or create a new Direct Debit Your investment portfolio will also no longer be managed or rebalanced, meaning it is likely that the configuration of it will change over time, potentially leading to it no longer being appropriate for your approach to risk.

Full details of the service you will receive as an ‘unallocated client’ can be found in the FAQ ‘What service can I expect now that Wealth Horizon has closed?’.

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Where can I transfer to?

If you wish to transfer your investment to another adviser or investment provider, you will have to engage them first to begin this process, as they will initiate the transfer on your behalf.

Whilst we are unable to recommend another Financial Adviser or Investment Provider, we would suggest that you visit;

  • Unbiased (www.unbiased.co.uk), which is a service which can help you find an independent financial adviser in your area
  • Money Advice Service (www.moneyadviceservice.org.uk), who can provide support and guidance on a range of financial issues
Close ×

How do I transfer my investment elsewhere?

If you wish to transfer your investment to another adviser or investment provider, you will have to engage them first to begin this process, as they will initiate the transfer on your behalf.

If you have an ISA, it is important that this transfer is done correctly to maintain its tax efficient status. If you withdraw the funds from your ISA to then invest in another ISA (or other investment) elsewhere, you may be disadvantaged as it will be liable to lose its tax efficient status.

Once the transfer has been initiated and accepted, it will take 7-10 working days to transfer the funds to your new provider.

There are no fees for withdrawing your investment or transferring it elsewhere.

Close ×

Can I still get financial advice now that Wealth Horizon has closed?

As Wealth Horizon has closed, you are no longer getting advice on the investment you hold with Parmenion. The 0.5% ongoing advice fee you were previously paying for this service has ceased, with the last payment being taken on the 1st of January 2021.

If you would like ongoing financial advice then you may wish to consider transferring your investment to another adviser. To do this, you will first need to engage another firm to begin this process, as they will initiate the transfer on your behalf.

We are unable to recommend another adviser, but you can visit Unbiased (www.unbiased.co.uk) which is a service that can help you find an independent financial adviser in your area. Also, the Money Advice Service (www.moneyadviceservice.org.uk) can provide guidance on a range of financial issues.

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Am I able to remain invested now that Wealth Horizon has closed?

The closure of the Wealth Horizon service on the 6th of April 2021 does not mean that your investment portfolio will discontinue or be disinvested. Your investment portfolio is administered by Parmenion, which is a separate business from Wealth Horizon, and they will continue to look after your investment until they receive an instruction from you to do otherwise.

From this date, unless you have appointed a new adviser, Parmenion will consider you to be an ‘unallocated client’. Please see our FAQ ‘What is an unallocated client’.

As an unallocated client,  your investment portfolio will continue to be invested at your current risk grade, however, your investment portfolio will no longer be rebalanced it is likely that the configuration of it will change over time, potentially leading to it no longer match the asset allocation appropriate for your approach to risk.

Full details of the service you will receive as an ‘unallocated client’ can be found in the FAQ ‘What service can I expect now that Wealth Horizon has closed?’.

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Why has Wealth Horizon closed?

Wealth Horizon ceased trading on the 6th of April 2021. This decision has been taken as the business is no longer able to provide low cost advice support to our clients in the manner the business desires, due to an increasingly challenging economic climate.

We at Wealth Horizon still believe that everyone can and should be able to benefit from regular financial advice at a reasonable cost.

We appreciate every one of our valued customers and it has been our pleasure to serve you and support your financial goals.

If you want to know what your options are, please visit the ‘What are my options now that Wealth Horizon has closed?’ FAQ or for full details of changes to the service, please visit the ‘What changes to the service can I expect now that Wealth Horizon has closed?’ FAQ.

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Can I make an ISA subscription this tax year (2021-2022)?

Wealth Horizon ceased trading on the 6th of April.

From this date, unless you have appointed a new adviser, Parmenion will consider you to be an ‘unallocated client’. Please see our FAQ ‘What is an unallocated client’.

As an unallocated client, you will no longer be able to open a new account, subscribe to an ISA, top up an existing account or create a new Direct Debit.

Full details of the service you will receive as an ‘unallocated client’ can be found in the FAQ ‘What service can I expect now that Wealth Horizon has closed?’.

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What service can I expect now that Wealth Horizon has closed?

While, Wealth Horizon ceased trading on the 6th of April 2021, Parmenion who are the custodians and administrators of your account, will continue to service your account going forward.

From this date, unless you have appointed a new adviser, Parmenion will consider you to be an ‘unallocated client’. Please see our FAQ ‘What is an unallocated client’.

As an ‘unallocated client’ you will not receive the same level of service as you received when Wealth Horizon was open.  These changes include;

  • You will no longer be able to receive financial advice
  • Yearly financial reviews will no longer be available
  • You will no longer be able to open a new account, subscribe to an ISA, top up an existing account or create a new Direct Debit
  • Transferring in other investments will no longer be possible
  • Your investment portfolio may no longer be rebalanced in keeping with your risk grade
  • Access to certain online tools will no longer be available, including ‘pay in cash lump sums’ and ‘review your financial details’

Things that will not change

  • Parmenion will continue to be custodians and administrators of your investment
  • Your investment portfolio will continue to be invested at your current risk grade. However, as your investment portfolio may no longer be rebalanced, it is likely that the configuration of it will change over time, potentially leading to it no longer matching the asset allocation appropriate for your approach to risk
  • You will continue to have online access to Parmenion’s client site and receive digital quarterly investment reports
  • You will still be able to withdraw funds from your investment or transfer your investment away. However, you will no longer be able to do this by logging into your Wealth Horizon account online. For more information, please visit either of the following FAQs ;‘How do I withdraw funds from my account?’ or ‘How do I transfer my investment elsewhere?’.
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What are the timescales of the service changing?

On the 1st of January 2021 you will have paid your last ongoing advice fee for the Wealth Horizon service.

From the 1st of February 2021, there will be significant changes to our service. A full breakdown of these changes can be found in our FAQ ‘What changes to the service can I expect?’.

While we are able to accept ISA subscriptions up to the £20,000 allowance until the end of the tax year (5th April 2021), from the 1st of February 2021, these will be processed manually, rather than done through your online account. If this is something you would like to do please visit out FAQ ‘How do I make an ISA subscription this tax year (2020-2021)?’.

Wealth Horizon will then cease trading on the 6th of April 2021. If you have not appointed a new adviser by this date, Parmenion will consider you to be an ‘unallocated client’ in line with their terms and conditions. As an unallocated client, your investment portfolio will no longer be managed or rebalanced, meaning it is likely that the configuration of it will change over time, potentially leading to it no longer being appropriate for your approach to risk. For more details on this please visit our FAQ ‘What is an unallocated client?’.

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Can I withdraw from an ISA?

You can take money out of your ISA whenever you want. You should remember, however, that when you withdraw money from your ISA, part of the allowance remains used. This means, for example, that if you reach the ISA limit and then make a withdrawal, the money cannot be put back in.

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Can I withdraw all my money?

It’s your money and you can request all or part of it back at any time. Withdrawals are free. After we close your account, we hold your personal information for a time as required by law. You should always remember however that the value of investments can go down as well as up, and consequently it may not always be possible to receive back the full amount originally invested. The sum available to you in the event of surrendering your investment will be dictated by value of the underlying assets making up your portfolio at the time your investments are sold. A withdrawal instruction must be received before 21.00 in order for the sale of funds to be executed the following working day.

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What do I do if I have a complaint?

Wealth Horizon has a strict complaints policy to resolve any issues quickly and efficiently. If you have a complaint about our services or products, please send a letter to Compliance Department, Wealth Horizon, Aurora, Counterslip, Bristol, BS1 6BX.

If you are dissatisfied with how we have dealt with your complaint and meet the FCA criteria, you will be able to refer your complaint against us to the Financial Services Ombudsman Service. The Financial Ombudsman, Exchange Tower, Harbour Exchange Square, London, E14 9SR. We will let you know when and how you can do this.

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Investment risk: Investment in the stock market is not a suitable place for short term money and you may not get back what you put in. All investment carries risk and it is important you understand this, if you are in any doubt about whether an investment is suitable for you, please contact us. Investment in the stock market and any income derived from it, may go down as well as up.

Wealth Horizon certainly lives up to its promise of making investment simple to understand

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