Who is M&G?M&G is a leading international asset manager, known for its long-term and conviction-led approach to investing. We have been an active manager of investments for individual and institutional clients for over 85 years. Today we manage assets over £271.6bn (30 June 2020) in equities, multi-asset, fixed income, real estate and cash for clients across Europe and Asia.
How is myM&G different from your existing 'My Account'?There are two key differences. With myM&G, you can manage your account online, 24/7. With your existing account, you need to phone us during certain hours, or write to us, to manage your account. The other big difference is pricing. Online customers with myM&G will automatically qualify for the R share class, which has lower fund charges than A share class. MyM&G customers with over £250,000 across their portfolio will qualify for the I share class, which is the same price we offer to institutional clients buying in large quantities.
I live in the US. Why can't I have a myM&G investment account?The US regulator limits the number of American investors permitted to invest in funds which are not registered in the US. M&G funds are not registered in the US, therefore we cannot allow US resident investors.
What is a beneficial owner?A beneficial owner is an individual or class of persons who ultimately own(s) an investment that may be registered either in their name or another person’s name on their behalf. It is a regulatory requirement that we understand who is the ultimate owner of each investment. By declaring that you are the beneficial owner you are confirming that the proceeds belong to you.
What is the Flexible ISA and will it be available on myM&G?The Flexible ISA allows investors to withdraw money from their ISA and reinvest it in the same tax year without affecting their annual ISA allowance. Although M&G won't be offering the Flexible ISA we may decide to offer it at some point in the future. We're constantly evaluating our product range to deliver the best outcomes for our customers and the Flexible ISA will be included in this evaluation process.
What is the Innovative Finance ISA and will it be available on myM&G?The Innovative Finance ISA allows peer to peer lending within your ISA tax wrapper. It's not a product M&G offers.
What is the Lifetime ISA and will it be available on myM&G?The Lifetime ISA allows 18-40 year olds to open a Lifetime ISA and pay in up to £4,000 each tax year. They will be able to continue making contributions up to the age of 50. The government will add a 25% bonus to all contributions to a Lifetime ISA, up to a maximum of £1,000 per year. Money from the Lifetime ISA can only be withdrawn without penalty if it’s used for the purchase of a first home, or at retirement. Any contributions made to a Lifetime ISA will count towards your annual ISA allowance. M&G does not currently offer the Lifetime ISA. However, we may decide to offer this at some point in the future.
What do I do if I need to register a Power of Attorney?Please contact us on 0808 178 4035 and we can talk through what we need. Unfortunately at the moment we are unable to do this through the myM&G website, however once registered we will need you to contact us each time you need to make changes to the donor’s account.
Moving to myM&G
What does 'Move' mean?'Move' refers to the process by which investors who already hold investments with M&G are able to move them to myM&G to take advantage of the wide-ranging benefits that myM&G offers.
My account shows that some of my funds have moved across but others show pending. Why would that be?Funds sometimes have different settlement periods, so some may move across more quickly than others. We'll keep you informed of your move to myM&G by secure message, but you can also check your funds' progress on your Dashboard.
I have a joint account and a sole account. It looks like the sole account has moved across but the joint account is still pending. Why is that?Both of the holders on a joint account need to go online to agree the move. If you haven't already done so, we'd suggest checking with your joint holder how far along they are through the process.
I currently have an APS ISA subscription with M&G but I am trying to move to myM&G and I can't see my APS ISA in the list of accounts I hold. Will these assets be moved across?If you have subscribed to an APS ISA with M&G, the assets will move to myM&G along with all of your other holdings. When the move is complete, if you have any remaining APS ISA allowance we will record it against your account. If you can’t see your APS ISA listed once the move has completed, please contact us.
I currently have an X share class but notice that you don’t have this on myM&G. What share class will I receive and how does this happen?To keep the proposition simple on myM&G in most cases we offer just two share classes; R and I. The share classes you have will depend on the total amount you have invested with myM&G. The main difference between the share classes is the ongoing charge you will pay. If you currently hold X shares, we will convert those shares into either R or I as part of your move to myM&G. There will be no exit fee applied and this conversion will not count as a disposal for capital gains tax. This conversion process can take up to three working days following your move, during which time you will be unable to switch or sell these shares.
Transferring from or to another provider
I used to hold I or R share classes, but you have converted me to another share class, why is that?As part of the transfer process the value of your holdings will be used to determine which share class you are eligible for. MyM&G may have different levels of accessibility for our share class entry.
What does 'in-specie transfer' mean?This is the direct transfer of shares from one account to another. It does not require the shares to be sold, thereby eliminating any market movement or capital gains tax liability.
Do I need to sign and return a transfer form to transfer to myM&G? I noticed there was one in my document library.We need a signed instruction in the following instances:
My child has a Child Trust Fund (CTF). Can they have a CTF and a Junior ISA?No they are not allowed both a CTF and a Junior ISA. However you can transfer the CTF to a Junior ISA. For more information on how to do this, please see our CTF to Junior ISA transfers section.
How do I transfer out my stocks and shares ISA from myM&G to a different provider?You will need to contact the provider you want to transfer to and they will organise it for you.
I want to transfer my investments into someone else's name on myM&G. How can I do this?You will not need to complete any forms for this transfer as we can accept an instruction over the phone or via secure message. If the person you wish to transfer your investments to is not a myM&G customer, they will need to register online and invest as little as £1 in an M&G fund so that we can set up an account for them and carry out our usual security checks. Once this is complete we will transfer the shares into their account.
My debit card payment has been rejected. What can I do?There are a couple of options. Firstly, we suggest that you contact your bank as occasionally some banks will monitor for what they consider large or unusual payments. Alternatively, you can make your payment using a one-off Direct Debit, however please be aware that this can take up to eight working days to set up and shares will not be purchased until the payment has been received from your bank.
I want to make a lump sum investment into my ISA but it looks as though I have no allowance remaining. What has happened?If you have a regular monthly Direct Debit set up, we will calculate how much you will invest over the course of the tax year to prevent you from exceeding your annual allowance. In order to invest a lump sum that would exceed your allowance, you will need to amend or cancel your Direct Debit instruction. You can amend or re-start your Direct Debit at any time.
If I need to withdraw some funds and the value of my portfolio drops will I be charged higher fees?No, once you qualify for lower charging share classes you will always be eligible for those share classes, which have lower fees, for your existing investments and on any future investments.
What proportion of my joint account is taken into consideration when assessing whether I am eligible for lower fees?The entire value of your joint account will be taken into consideration when we assess the value of your portfolio.
Why do I pay lower fees on my joint account compared to my sole account?The joint account will always reflect the lowest fee being paid by either of the holders on their other account(s). This means that you may benefit from lower fees on your joint account even though your sole account doesn't qualify for lower fees.
I want to switch from my GIA into an ISA, how can I do this?In order to switch from your GIA to an ISA, you can select 'Switch to ISA' from your Dashboard to give us your instructions. We will sell the requested fund(s) from your GIA at the next valuation point. At the following valuation point we will use the proceeds from the sale to buy the same fund(s) in an ISA. If you later decide you want to hold different funds in your ISA, you can do this by selecting 'Switch funds' on your Dashboard. Make sure that you give us your 'Switch to ISA' instructions at least three working days before the end of the tax year as it could take up to three working days to complete.
I want to switch from my GIA into a Junior ISA, how can I do this?In order to switch from your GIA to a Junior ISA (JISA) for your child, you will need to sell the holdings in your GIA. Please note that the sale of funds from your GIA is a chargeable event for capital gains tax purposes. Once you have received the proceeds from the sale of the funds held within your GIA into your nominated bank account, you can buy funds within a JISA for your child. It could take up to four working days for the proceeds of your sale to reach your nominated bank account and another two working days for your new shares to be bought in the JISA, depending on when you place your sell and buy instructions. Please note that your money will be out of the market during this period. Make sure that you leave sufficient time to allow the proceeds to reach your nominated bank account and for your instruction to invest in a JISA to be completed before the end of the tax year.
How do I invest in a Junior ISA for someone else's child?You will need to contact the Registered Contact and arrange for the funds to be transferred to their nominated bank account. The Registered Contact will then need to invest on the child's behalf.
Why can only one person pay into a Junior ISA?For security, we only allow one nominated bank account per myM&G customer. We will therefore use the nominated bank account of the customer who is the Registered Contact for the Junior ISA. Any payments from third parties would need to be transferred into the Registered Contact's nominated bank account for the Registered Contact to invest into the Junior ISA.
Can I be the Registered Contact for more than one Junior ISA?Yes, you can. There are no restrictions on how many Junior ISAs you can be the Registered Contact for. However, you do need to be the parent or legal guardian of the child that the Junior ISA is for.
At 16 the child can become the Registered Contact. Does that mean that I can no longer see the account? What can the child do in this situation?If the child wants to become the Registered Contact then they will need to contact us on 0808 178 4035. The existing Registered Contact will be removed and therefore will not be able to view the account unless invited to 'Share my account' by the child. Any future subscriptions will need to come from the new Registered Contact's (the child's) nominated bank account.
What happens to a Junior ISA when the child reaches 18?Prior to the child's 18th Birthday, the Registered Contact (or child if they took over their own account at the age of 16) will be notified that the Junior ISA will automatically roll into an ISA when the child reaches 18. It is then up to the child to manage their investment going forward.
The Junior ISA that I am a Registered Contact for benefits from a lower charging share class because it is linked to my investment account. What happens when the Junior ISA converts to an ISA? Will the ISA end up with a higher charging share class?No. The ISA will hold the same share classes as the Junior ISA did.
Can my 16/17 year old child have read only access if they don't want to become the Registered Contact for their Junior ISA?Yes, as soon as the child turns 16, they can register on myM&G and look at their Junior ISA without having to take control of it. If they want to do this, they should contact us on 0808 178 4035.
Why have I received two contract notes for my switch transaction?A contract note is produced for each part of the transaction, one for the switch out and one for the switch in. These will be produced on two consecutive working days, after each part of the switch has completed.
Why do you not pay any interest on the myM&G Cash Park?Our Cash Park is designed for you to hold your cash inside your ISA wrapper on a temporary basis, ready for you to invest in your chosen funds. It is therefore held in a non-interest bearing bank account so no interest is due.
How are my money and assets protected?You can find out how M&G protect your money and assets in our 'Client Money' section.
Why do I need to have a UK bank account?Although you can invest if you are an overseas customer, you will need to hold a UK bank account in order to make payments to myM&G as we currently only accept Sterling payments from UK bank accounts.
Which nominated bank account will be used for the joint investment account I hold?The nominated bank account will be that of the person who first sets up the joint investment account.
How can I amend my regular monthly Direct Debit? How long will it take for the changes to come into effect?You can amend an existing regular monthly Direct Debit by going to 'My account'. If you want your changes to take effect ready for your next collection, you need to do this at least three working days before the collection date.
Is there a restriction to the number of people I can share my account with?There's no limit to the number of people you can share your account with.
Why can I not change my name online?In order to change your name we do need to see evidence of your name change, for example a marriage certificate. We need to see the original document or certified copy but, don't worry, we will return these as soon as we have updated our records.
Can I email you PDF copies of my documents?To manage your account as securely as possible, there are some occasions where we will require you to send in an original document or certified copy. Changing your name is one of those occasions.
Do you offer an advice service?No, myM&G is a non-advised service. If you do require financial advice you may wish to contact a financial adviser. For advisers in your local area visit www.unbiased.co.uk or www.vouchedfor.co.uk.
Can advisers use this site?You can allow your financial adviser, accountant or other third parties of your choice to see your myM&G investment portfolio by using the 'Share my account' feature. They will not be able to transact or make any amendments on your behalf.
I think my password has been compromised, what should I do?Please log in and change your password in 'My account' as soon as possible. You will always receive a notification email if any activity occurs on your account.
What will M&G need to do with my tax information?On an annual basis, M&G will be required to report information on investors who are tax resident in either the United States or other specific foreign countries. This information will be passed to the foreign tax authority where the investor is tax resident.
Do other companies as well as M&G report tax information?All financial institutions (e.g. banks, insurers, investment managers) need to comply with these regulations.
What tax information will be reported if I hold my investment jointly?Each holder will be asked to provide information about themselves to determine their tax status.
What happens if the person I hold a joint account with doesn't provide their tax information?If the second person on a joint holding does not provide their tax information, we will need to report all of their information to the local tax authorities who may then share this information with multiple foreign tax authorities.
Where can I find more information on tax reporting requirements?HMRC have issued a ‘quick guide’ which explains why you are being asked questions about your tax residence status. This can be found at www.gov.uk/government/publications/exchange-of-information-account-holders
What are your opening hours?You can access your myM&G account online 24 hours a day, 7 days a week. If you need to call us for any reason, our Investor Services team are available between 08:00 and 18:00 Monday to Friday and between 09:00 and 13:00 on Saturdays.
How can I raise a complaint?If you would like to raise a complaint, you can contact us by: secure message, phone, or by using the feedback link at the bottom of the myM&G website. See a copy of the M&G complaints charter for more information about how we will handle your complaint.
I thought I could "Chat" on your website but can't see how to.The chat icon has been set to only appear if someone is available to chat with you. You can send us a secure message or an email at any time.
I haven't received any emails from you recently, why is that?There could be a number of reasons for this:
How can I change my marketing preferences?To amend your marketing preferences please log into your account and visit the “My account” section and then “Privacy notice and marketing preferences”.
Is it safe for me to include personal information when using the chat facility?If you are logged in, chat is a secure way to communicate with us. However, if you are not logged in we advise that you do not disclose any personal information to us.
What is the difference between chat and secure message?Chat is a quick and easy way to communicate with us as your queries will be answered instantly. Secure message is more relevant when the enquiry is of a more complex nature as it provides a full record for you to refer back to at any time.
How should I register the death of an M&G investor?Please see the When an Investor Dies brochure. This will provide you with all the information you need. If you have any further questions, please contact us on 0808 178 4035.
Where can I find the myM&G Small Estates form?The myM&G Small Estates form can be found here.
Where can I find the myM&G Executor Notification form?The myM&G Executor Notification form can be found here.
What is an Additional Permitted Subscription (APS) ISA allowance?An APS ISA allowance is an additional allowance which you are granted on the death of your spouse or civil partner. You can either use your allowance by transferring the cash to us so you can buy M&G funds from the Cash Park or, where you have inherited the deceased's assets, instruct an in-specie transfer. Further information can be found in our APS section.
Power of Attorney and Court of Protection order
I am an attorney or deputy and want online access to the donor’s myM&G account; how do I set up a Power of Attorney (POA) or Court of Protection order on myM&G?Any attorneys or deputies who require access to a myM&G customer’s account online will first need to register with myM&G. We’ll then need to receive a completed POA Notification Form with the original or a certified copy of the Power of Attorney document or Court of Protection order. Once we’ve received these, we’ll send a secure message to let all registered attorneys or deputies know when we have set up their access to the donor's myM&G account. Where the donor is not mentally incapacitated and has online access to their own account, we will notify them that any attorneys registered on myM&G have been given access to their account as well. Further information can be found on our Power of Attorney section.
How many attorneys or deputies can be set up on a myM&G account?You can set up a maximum of four attorneys. All attorneys or deputies must sign the POA Notification Form when registering the Power of Attorney or Court of Protection order on myM&G. However, not all attorneys or deputies need to register with myM&G if they do not want to. Any attorney or deputy who does register with myM&G can act on the donor’s myM&G account on behalf of all other attorneys or deputies. Whenever an attorney or deputy carries out a transaction for the donor’s myM&G account, they will need to declare that they are acting in accordance with the terms of the Power of Attorney or Court of Protection order and in agreement with all other attorneys or deputies listed in the document.
Do all attorneys or deputies need to be registered with myM&G?No, not all attorneys or deputies listed on the Power of Attorney or Court of Protection order need to register with myM&G if they do not intend to have any involvement in looking after this investment. However, they will be required to sign the POA Notification Form as a listed attorney or deputy in the Power of Attorney or Court of Protection order. Any attorney or deputy who does register with myM&G can act on the donor’s myM&G account on behalf of all other attorneys or deputies. Whenever an attorney or deputy carries out a transaction on the myM&G donor account they will need to declare that they are acting in accordance with the terms of the Power of Attorney or Court of Protection order and in agreement with all other attorneys or deputies listed in the document.
What happens in the time between notifying you that I want to add any attorneys or deputies to an account and you receiving the documents?Until we receive an acceptable Power of Attorney document or Court of Protection order from you, along with the POA Notification Form signed by all attorneys or deputies (and, where possible, signed by the donor), the donor's myM&G account will remain open and access will be unchanged. The donor will be able to buy and sell shares by logging into their myM&G account as normal.
If a Power of Attorney or Court of Protection order is held jointly, do all attorneys or deputies need to provide consent each time an instruction is placed on myM&G?We do not need each attorney or deputy to provide their explicit consent each time an instruction is given, regardless of how the Power of Attorney or Court of Protection order has been set up. However, each time an attorney or deputy carries out a transaction on myM&G, they will be asked to declare that they are acting within the terms of the Power of Attorney or Court of Protection order and have the consent of all other attorneys or deputies.
How do I need to communicate with myM&G as an attorney or a deputy?If you are registered with myM&G you can contact us via secure message or chat, either while you are logged in as the donor or while you are logged in as yourself. If you are logged in as the donor, all secure messages sent or received will be stored in the donor’s secure message centre, not your own. If you are not registered on myM&G then you can still chat with us or call us but we will not be able to give you any information about the donor’s myM&G account.
What happens on the death of the donor?When the donor passes away, any Power of Attorney or Court of Protection order will cease to be valid. We will require an original death certificate to be sent to us. Upon receipt of this, we will remove any attorney or deputy’s access to the donor’s account and they will be unable to log into the donor’s myM&G account or instruct on it. Once we have received the necessary documentation to register the account as deceased (eg Grant of Probate), the authorised representatives of the deceased’s estate will be the only individuals able to provide instructions on the myM&G investment.
What emails or notifications will I receive as attorney or deputy?If you are registered on myM&G and linked to a donor’s myM&G account as an attorney or deputy then you will receive an email notification each time any transaction takes place on the donor’s myM&G account. You will receive these notifications regardless of whether it was you, another attorney or the donor who carried out the transaction so you will always be kept informed of any activity on the donor’s myM&G account. You will also receive email notification each time there is a new document in the donor’s document library or a new secure message in the donor’s secure message centre.
Can I be an attorney or deputy for more than one myM&G customer?Yes. You will need to register with myM&G and send us a completed POA Notification Form with the original or a certified copy of the Power of Attorney document or Court of Protection order for each myM&G customer for whom you are acting as attorney or deputy.
I am an existing registered attorney or deputy for an M&G investment; will the Power of Attorney or Court of Protection order carry over automatically when I choose to move to myM&G?Yes. You will need to register on myM&G and send us the POA Notification Form. We will set up the donor’s myM&G account and register you as attorney or deputy on it. You will then be able to log in to the donor’s myM&G account to start the move journey. The existing Power of Attorney or Court of Protection order will move across as well as the investments.
I want to transfer a donor’s investments to myM&G from a third party. Do you need to see the Power of Attorney document or Court of Protection order or will this carry over with the transfer?You will need to send us a completed POA Notification Form and register the Power of Attorney or Court of Protection order with us before you can transfer any holdings from a third party provider to myM&G. Once these documents have been received and you have registered with myM&G you will be able to log in as the donor and ask to transfer the donor’s investments from a third party.
Can I register a Power of Attorney or Court of Protection order for someone who is acting as a Registered Contact on a Junior ISA?No. A Registered Contact is unable to have a Power of Attorney or Court of Protection order registered for them. The donor’s Registered Contact status will be removed from any linked Junior ISA accounts if we register a Power of Attorney or Court of Protection order.