A fixed-interest bond or security issued by the British Government.

An arrangement made for employees of a particular employer to participate in a personal pension scheme on a group basis.

A strategy designed to offset investment risk.

A professional financial expert who must by law give impartial "best advice" on financial companies, markets and products. IFAs are a type of financial advisers who are able to select from all the products available in the marketplace.
IFAs are bound to the Financial Services Authority rules, which oblige them to provide advice most suited to your personal requirements.
In addition, when making recommendations they have to provide written reasons why they think that it is right for you - again to make sure that you are fully informed before committing yourself to anything. An advisor is not independent if they do not offer a fee only option.

Investment Management Regulatory Organisation, the body that regulates the management of unit trusts. Now taken over by the FSA.

Facility by which you can draw an income from your pension fund while keeping the rest fully invested until the age of 75 at the latest.

Tax payable if you have income above the minimum level taxable in the UK.

The means of measuring movement of statistics over a period of time used as a benchmark by unit trust managers.

Payments protected against the effects of inflation by increasing in line with the changes in the index of retail prices.

The amount in percentage terms by which prices rise or fall year on year.

Tax payable after you die on the value of your assets in excess of a certain threshold value although gifts between husband and wife are exempt. It is also chargeable in certain circumstances while you are still alive.

A charge levied by your investment manager to cover administration and sales commission when you invest in a fund.

A mortgage product where you make a monthly interest payment and rely on the a savings plan or other monies to pay off the capital at the end of the mortgage term.

Your home may be repossessed if you do not keep up repayments on your mortgage.

If we arrange mortgages we can be paid by commission or a fee. If this is the case it can be found on our How We Are Paid page.

A company, quoted on the Stock Exchange which invests in other companies' shares.

Tax-efficient savings plans which can hold cash or investments, or a combination of the two, which were introduced in 1999 to replace TESSAs and PEPs.

Joint life plans cover two (or more) people, usually a husband and wife. Benefits can be paid following the first death, or following the death of both.

This provides cover, in the short term, against the loss of profits a company is likely to suffer following the death of a key employee.

Important information, set out in a standard way, to allow service, product and cost to be compared. These documents are only relevant for protection and mortgage business, having been replaced by the Client Agreement for investments and pension business.

A debt, or amount of money, owed to others.

A company whose shares are quoted on a recognised stock market.