Costs and Charges
From the first meeting with your dedicated investment manager, we will keep you fully informed of any charges relating to your investments.
We apply a quarterly management charge, calculated as a percentage of your portfolio. This includes all aspects of portfolio management, reporting, review meetings, general administration and, where appropriate, any costs for providing custody of assets.
For estates in administration, on notification of death, the portfolio is switched to our ‘Execution Only’ service and charged a fee rate of 0.3% of the value of the portfolio for estates in administration. This charge will be levied on accounts (with assets in our custody) following the death of a sole account holder to cover the costs of our continued custody and maintenance of assets pending instructions from the deceased’s personal representatives. Upon receipt of valid instructions from the Executors of the estate, we will either (a) liquidate the portfolio, or (b) reinvest the cash and assets into a new portfolio(s) which will attract the relevant charges for the service chosen.
Third-party brokerage charges are calculated by applying the rates shown in the “Current Broker Charge” column of the table below to the value of the transaction in each market.
*We are changing our operating model for the execution of equity orders in the international markets listed in the table above. Once this change has been implemented, if we do not have direct access to the relevant execution venue, we will transmit all such orders to a single third-party broker to execute and, as a result, the rates that apply to the calculation of our third-party brokerage charges for each market will change from the “Current Broker Charge” shown in the table above to the equivalent “Updated Broker Charge” shown for that market.
**Following implementation of the change to our operating model described at (*) above, our chosen broker will apply a minimum charge if the value of an order does not meet a threshold set by it. These minimum charges are detailed in the table above by reference to each market. We aim to avoid the imposition of minimum charges by aggregating our clients’ orders to ensure the relevant value threshold is met but, where this is not possible, we will begin passing any minimum charges that are incurred onto those clients whose orders attract them from 1 January 2021.
We expect the changes described at (*) and (**) above to take effect in approximately 14 days and, once they are live, this page will be updated accordingly.
Share your goals with us
Subscribe to our Monthly Market Commentary
A wider perspective on events and pressures affecting global politics and economics. We look at events of the last month and our expectations for the next.
Straight from the experts
Enjoy articles and infographics from our expert research team, as they discuss their predictions and the rationale behind their investment picks this month.