Mutuality means more
As a mutual, Wesleyan doesn’t have shareholders to pay. It means we can share our success with you through potential bonuses.
With inflation high and interest rates low, these are tough times for savers. The With Profits ISA gives you the potential to do more with your money - while 'smoothing' your investment returns to reduce the impacts of market volatility.
Annual management charges apply. If you take advice from a Specialist Financial Adviser from Wesleyan Financial Services, an initial advice charge will also apply.
Keep in mind that investment values are not guaranteed, and can go down as well as up. You could get back less than you invest.
How much could your ISA be worth in 10 or 20 years? Use the calculator below to see how your contributions could grow in a range of market conditions…
Keep in mind that investment values are not guaranteed and can go down as well as up, so you could get back less than you invest. Tax rules may apply.
If you had you invested £10,000 in a With Profits ISA on 1st February 2012, your cash-in value on 1st February 2022 would have been £19,338*
Even if you had invested £10,000 on 1st February 2017, your cash-in value just five years later would have been £13,227 (see table below).
Bear in mind these figures are based on the historical performance of the fund. Past performance is not a reliable guide to future performance.
* Source: Wesleyan internal information. Figures correct as at 1st February 2022. Figures shown are after the deduction of 1.2% annual management charges. They assume no ongoing advice charge, and include the effects of smoothing with regular bonuses, mutual bonuses and a final bonus added. Bonuses are not guaranteed.
All investments are subject to the ups and downs of the stock market. But our With Profits Fund aims to reduce sharp rises and falls through a process called ‘smoothing’.
This means holding back some returns when market performance is strong, to support returns when the market experiences losses. It reduces day-to-day fluctuations in your investment.
Before you apply for your ISA, please make sure you understand how smoothing, bonuses and Market Value Reductions (MVRs) work. We explain them in the How our With Profits Fund works booklet.
When you save money into a With Profits ISA, you’re buying units in Wesleyan’s With Profits ISA Fund. The fund is managed by our investments team – named Responsible Investor of the Year at the Insurance Asset Risk Awards 2022.
It means you don't need to be a skilled investor to open a With Profits ISA. We manage the fund on your behalf, so you can simply focus on saving.
The With Profits ISA Fund includes Wesleyan's profits and losses from across the business. We share our financial success with you, by adding regular bonuses to your ISA when we can.
We can't promise to pay bonuses every year, but even in the challenging climate of 2020, we paid out a 1% bonus to our ISA holders at an average of £383 per person. And in 2021, we paid out a 1% bonus, equivalent to £443 per person.
Sometimes, you might get a final bonus when you cash in your investment too.
The With Profits Fund invests in UK and international shares, government and corporate debt, property, cash and other financial investments. Spreading money across multiple asset classes like this can help to spread risk.
We class the With Profits ISA as a risk category 3 investment (on a scale of 1 to 5). This means a ‘moderate’ level of risk and reward.
If you aren't comfortable identifying the level of risk that's right for you, Specialist Financial Advisers from Wesleyan Financial Services are on hand to help.
Reasons beyond the returns: Why choose Wesleyan?
To open your ISA with a transfer, you'll need to book an appointment with your Specialist Financial Adviser from Wesleyan Financial Services (initial advice charge applies).
Alternatively, you can open your ISA online, then contact us on 0121 200 9341 to complete a transfer once your account is open.
Call us on 0808 239 5030 or request a call back. We're open Monday to Friday, 9am to 5pm. You can also take a look at our FAQs below.
If you already hold a Wesleyan With Profits ISA, you can top-up your ISA here.
Each tax year (6th April to 5th April), there’s a certain amount of money you’re allowed to put into an ISA.
For tax year 2022/2023, that allowance is £20,000. Just be aware that tax rules for ISAs can and do change, so the allowance may vary from year to year.
You can start your ISA with a lump sum of £1,000 or more. Or you can invest via monthly payments of £50 or more.
The fund invests in a wide range of assets including UK and international shares, government and corporate debt, property, cash and more. If you'd like to see a full asset breakdown and a list of the fund's top holdings, take a look at the With Profits Fund factsheet.
Like all our directly managed funds, the With Profits Fund applies our principles of sustainable investing.
We regularly review the performance of our With Profits ISA Fund, and when results allow, we increase the value of your ISA by adding a bonus. We can’t guarantee a bonus every year, but when a bonus is paid, it’s added automatically to your ISA – you don’t need to do anything to claim it.
In 2021, we distributed a record £36m mutual bonus to those invested in our With Profits Open Fund.
Because of smoothing, where the With Profits Fund sometimes holds back your investment returns in periods of growth, you might also be due an additional bonus when you cash in your investment.
If you open your ISA online you will not receive any investment advice or personal recommendation from us. Please therefore make sure you have read the important information and key documents below before applying, to make sure the investment is right for you. If you are unsure, please seek the advice of a Specialist Financial Adviser from Wesleyan Financial Services.
When you open a With Profits ISA, you’re agreeing to pay an Annual Management Charge (AMC) of 1.2%. This charge is collected from your ISA to cover our costs in managing your account and investments.
Please note if you are already opted in to Wesleyan Financial Services’ Ongoing Advice Service (OAS), the Annual Management Charge is 1.7%.
To try and deliver steady returns, the With Profits Fund applies a mechanism called smoothing. This means we may hold back some of your returns when market performance is strong, in order to reduce the impact of periods of poor market returns.
If you choose to withdraw money from your ISA at certain times (usually when share prices have fallen substantially), we may also apply an adjustment which reduces how much you get back from that withdrawal. This is called a Market Value Reduction.
A Market Value Reduction is not a charge applied for Wesleyan's benefit. It’s designed to protect those still invested in the fund from a high volume of withdrawals being made by other customers at unfairly high valuations.
The With Profits ISA is a stocks and shares ISA. You can hold multiple ISAs at the same time, but please note you can only contribute to one stocks and shares ISA in a tax year. In total, you can save up to £20,000 in ISAs in the 2022/2023 tax year.
To apply for a With Profits ISA, you must be a UK resident for tax purposes
You'll pay no personal income tax or capital gains tax on your investment returns from the With Profits ISA. This is based on current understanding of legislation and tax treatment, which can change in the future.
Before you apply to open a With Profits ISA, please read the following documents: