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REVIEW SUMMARY

RL360 Personal Investment Management Service

RL360 are based in the Isle of Man, conducting business in Asia, Africa, Latin America, the Middle East and the UK. They provide offshore savings, protection and investment products to international professionals and local nationals. 

RL360 is part of International Financial Group Limited (IFGL).

IFGL provides investment, savings and protection solutions to international investors around the world and the group comprises RL360, RL360° Services, Ardan International and now also Friends Provident International.

IFGL has 210,000 policies, USD24 billion of assets under administration and 650 members of staff.

Our Verdict
A Closer Look
FAQs
Customer Reviews

RL360 says that PIMS (Personal Investment Management Service) is built around a simple proposition of choice, flexibility and tax-efficiency.

Targeted at high-net-worth, internationally mobile individuals, this lump sum investment claims to have the flexibility to react quickly to changing market conditions and/or changes to your location or lifestyle without unnecessary restrictions. 

The key features of RL360's Personal Investment Management Service (PIMS) can be summarised below:

  • The plan can be set up in 1 of 7 currencies including Pound sterling (GBP), Euro (EUR), United States dollar (USD) Swiss franc (CHF), Australian dollar (AUD), Hong Kong dollar (HKD) and Japanese yen (JPY).
  • It has a capital redemption and life assurance variation (which we will look into shortly).
  • You can invest from GBP 50,000 (and the currency equivalent) with the option to increase later.
  • PIMS has no fixed fund range and RL360 say that they are always open to new investment opportunities as they arise.
  • The Personal Investment Management Service claims to offer simple cash management as a benefit. With the PIMS cash account(s) all your transactions, from charges and withdrawals to asset purchases and sales, will all be accounted for in one place. 
  • PIMS allows you to access your plan at any time and take regular or one-off withdrawals.
  • It offers 10 free dealing transactions.

The initial and additional payments for PIMS can be summarised below:

Currency

Initial payment Additional payment
GBP 50,000 5,000
EUR 60,000 6,000
CHF 65,000 6,500
USD 70,000 7,000
AUD 90,000 9,000
HKD 500,000 50,000
JPY 7,750,000 775,000

 

As stated above, the RL360's Personal Investment Management Service has two versions:

  1. Capital redemption version: 

    In this case, your plan will be issued on a capital redemption basis. This means that your plan can remain invested until such times as you decide to take its value or it reaches its maturity date.

    The maturity date is set 99 years from the start date at which point your plan will come to an end and RL360 will pay out 100% of your plan value plus GBP100.

    If you die during the lifetime of your plan, it will not automatically come to an end. It will remain invested and continue to be treated in accordance with the terms and conditions.

  2. Life assurance version:

    In the case of this version of PIMS, your plan will be issued on a life assurance basis. This means that your plan can be issued with up to six lives assured linked to it.

    In most cases, they are the same as the owners, but can be different if required.

    Your plan will remain invested until such times as you decide to take its value, or the last life assured dies, at which point they will pay out 100% of its exit value and the plan will end.

The charging structures for both the versions of RL360's Personal Investment Management Service is the same and can be summarised below.

  1. Servicing charge: This charge is deducted every quarter and increases each year in line with Isle of Man Retail Price Index. The charge is deducted until your plan ends.

    Currency

    Charge
    GBP 100
    EUR 120
    CHF 130
    USD 140
    AUD 180
    HKD 1,000
    JPY 15,500
  2. Dealing charge: This charge is deducted every time you instruct us to buy or sell an asset for your plan. The first 10 buys or sells are free.

    Currency

    Charge
    GBP 20
    EUR 24
    CHF 26
    USD 28
    AUD 36
    HKD 200
    JPY 3,100
  3. Custody charge: This charge is deducted every time you instruct us to buy or sell an asset for your plan.

    Currency

    Charge
    GBP 40
    EUR 48
    CHF 52
    USD 56
    AUD 72
    HKD 400
    JPY 6,200
  4. Upfront charge: The upfront charge option allows you to pay the full establishment charge at the start of your plan. If you select this option, RL360 will deduct the total establishment charge from your initial lump sum payment, which will mean that the amount available to you to invest will be less than the amount you have paid.
  5. Establishment charge: You can choose to pay the establishment charge over 5, 8 or 10 years. If you cancel your plan before the establishment charge period you have chosen has expired, they will take the outstanding establishment charge as an early exit charge before paying the remaining plan value to you. The establishment charge exists in order to cover the set-up costs of your plan, including the payment of any commission to your financial adviser (risk of hidden costs).

The withdrawal amounts you can take from your RL360 Personal Investment Management Service plan in the 7 different currencies currencies offered are as follows:

Currency

One-off withdrawal Regular withdrawal
GBP 500 250
EUR 600 300
CHF 650 325
USD 700 350
AUD 900 450
HKD 5,000 2,500
JPY 77,500 38,750

 

Cancelling your PIMS plan:

  • During the cooling off period:

    After your plan has started and you have received your plan schedule, you will also receive a notice telling you about your right to change your mind and how to cancel.

    You will have a 30 day cooling off period from the date you receive your plan schedule. If you do decide to cancel your plan during this period, they will return your initial payment unless the assets you invest in have fallen in value.

    If this happens, you will receive back less than you paid in.
  • After the cooling off period:

    RL360 will always assume that you intend to hold your plan for your intended investment term.

    However, if you decide to cancel after the cooling off period and before any establishment charge has been paid in full, an early exit charge will apply which means you could get back less than you paid in.

NOTE:

  • Rl360's Personal Investment Management (PIMS) is available exclusively in association with financial advisers.
  • We would highly recommend reading the 'expert verdict' section of this review to learn why our team of experts gave RL360 Personal Investment Management Service 2 out of 5 stars in this independent review.

Additionally, here's a free guide that can help you achieve better results. In this guide, you'll learn:

  • Academic evidence only shared with a select few firms across the world
  • A real-life example of why you should never try to outguess the market
  • Why a fund's past performance is not enough to predict future returns
  • Why you need to focus on what you can control and why this leads to a better investment experience
  • Why you should accept the markets for what they are
  • What can impact behaviour and make people seek instant gratification

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The Pros

> Popular plan
> Tax protection to a certain extent

The Cons

> Risk of hidden commission
> Many countries do not recognise any tax concessions
> This can be a very expensive option since the charging structure is chosen by the financial advisers.
Can I monitor my investments online?

Over time you may wish to change your investment strategy, therefore it is important that you keep track of your plans performance.

RL360's online service centre claims to allow you to log in and monitor your plan from the very beginning.

You will have the ability to view your plan details along with the ability to print valuations, both current and historic, review important documents such as your application form, illustration or key information document, research funds through the dedicated fund centre or request to switch funds.

We recommend you take advantage by signing up for this service at outset.

Keeping a copy of your original illustration is a reassuring way of confirming that your
plan is performing in line with your expectations.

Am I eligible for RL360's PIMS?

RL360's Personal Investment Management Service (PIMS) is available to individuals, companies and trustees provided they are not subject to any legislation which prevents them from making an investment.

Individuals need to be 18 years of age or older to apply for PIMS.

Where the policy basis is life assurance, RL360 cannot accept the application if the youngest life assured is 85 years of age or older.

How does discretionary management help me?

By appointing a discretionary manager to manage the assets within your plan, you are providing authority for them to make investment decisions on your behalf without discussing them with you first.

The discretionary manager will buy and sell the assets on your behalf, and will hold the value of your plan in their bank accounts or custody accounts, which allows them complete control over what to buy and sell.

RL360 will not charge dealing or custody charges to your plan if you appoint a discretionary manager or investment platform but they may apply additional fees every time they buy or sell on behalf of your plan.

Appointment of a discretionary manager or investment platform will be subject to RL360's acceptance at all times.

What are the payment options available?

RL360 accepts the following
methods of payment:

  • Telegraphic Transfer
  • Cheque
  • Asset Sale
  • Asset Exchange
If I invest in RL360's Personal Investment Management Service, would I earn good returns?

Investing in the RL360 Personal Investment Management Service does not guarantee return.

The value of your plan can go down as well as up depending on the assets it is linked to, and you may not get back your payment(s) paid.

RL360 denies any responsibility, and will not
compensate you in relation to, the performance of your chosen linked assets.

 

Crippling charges

The charges have eroded my investment. The financial adviser who helped me set it up did not advice me otherwise.

When I started losing money I did some research and learnt all about regulated financial planners - I would advice everyone to do their due diligence and ONLY get advice from a regulated financial planner.

Expert assessment of RL 360 Personal Investment Management Service

This is an inflexible, expensive, outdated product.

We recommend individuals who are directed to RL360 by a 'broker' carefully garner the opinions of their peers on forums such as https://www.simplyfi.org/ before incepting any policies or plans.

If you already have a PIMS from RL360, and it is worth £250,000 or more, we strongly recommend you seek a Second Opinion to ensure you are on track to get and keep the life you want.

GET A SECOND OPINION

RL360 Personal Investment Management Service (PIMS) - Brochure

RL360 Personal Investment Management Service (PIMS) - Guide to Investment

RL360 Personal Investment Management Service (PIMS) - Life Assurance Product Guide

RL360 Personal Investment Management Service (PIMS) - Life Assurance Terms and Conditions

RL360 Personal Investment Management Service (PIMS) - Capital Redemption Product Guide

RL360 Personal Investment Management Service (PIMS) - Capital Redemption Terms and Conditions

RL360 Personal Investment Management Service (PIMS) - Asset Transfer Guide

RL360 Personal Investment Management Service (PIMS) - Life Assurance Application Form

RL360 Personal Investment Management Service (PIMS) - Capital Redemption Application Form

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