ikigai Launches New Stocks & Shares ISA for Customers
- 05.05.2021 09:55 am
Today ikigai, the premium fintech app, launches its new stocks & shares ISA.
Building on its comprehensive savings and investment services, ikigai’s stocks & shares ISA will further help people to spend well, save well and invest well. The news comes in time for the new ISA season, allowing ikigai existing, and new customers, to start investing and benefit from their first tax-free product.
The new stocks & shares ISA will sit alongside ikigai’s premium Wealth service, giving its customers another way to save and invest their money and grow their financial nest egg. The offering will see customers able to invest all, or part of their £20,000 annual ISA allowance with ikigai, and benefit from tax-free gains on investments held in their stocks & shares ISA. When investing, capital is at risk and the value of the investment can fluctuate.
There are no additional fees for opening and funding a stocks & shares ISA with ikigai, which is included in its £10 flat monthly fee. New customers looking to open a stocks & shares ISA with ikigai, simply need to open an account and pass the investor profile. Once passed they can choose to create a goal and choose to make it a stocks & shares ISA.
ikigai’s stocks & shares ISA investment portfolios are curated following a series of questions that take into account customers’ attitudes to risk, their investment goals, and the amount of money they wish to invest.
Edgar de Picciotto, co-founder of ikigai, says:
“We are very excited to announce the launch of our new ISA. Our new stocks & shares ISA is an important step towards giving our customers a comprehensive choice when it comes to investing their money. What makes ikigai’s stocks & shares ISA different from others on the market is all savings, spending, and investments are in one space for the client's convenience and transparency. This, along with the personal point of contact via a relationship manager each client is introduced to on signing up, gives the client confidence and insight into what their money is doing for them.”
Full integration with ikigai’s Everyday, Nest and Wealth features means customers will be able to easily split the money into their stocks & shares ISA alongside their other spending, saving and investing accounts. Each customer will also have exclusive access to a relationship manager when setting up a stocks & shares ISA, ensuring a high-touch, personal experience for all their investment needs.
The new stocks & shares ISA launch comes during ikigai’s crowdfunding campaign, which kicked off in April, in which it aims to raise a further £1.2 million. Previously, ikigai raised £2 million from private and angel investors in a pre-seed round completed in 2020.
It is important to know that before creating and opening an investor profile and stocks & shares ISA with ikigai, the following criteria must be met:
You must be a UK tax resident and over 18
You cannot have opened and funded another stocks and shares ISA this tax year (i.e. since April 6th, 2021. Customers can fund a pre-existing ISA, but cannot fund two ISAs opened in the same tax-year.)
You must have contributed less than this year’s ISA allowance (£20,000) to any other type of ISA. Tax treatment depends on the individual circumstances of each client and may be subject to change in future.