Costs and Charges
From the first meeting with your client’s dedicated investment manager, we will keep you fully informed of any charges relating to your client’s investments.
We apply a quarterly management charge, calculated as a percentage of your client’s portfolio. This includes all aspects of portfolio management, reporting, review meetings, general administration and, where appropriate, any costs for providing custody of assets. Our management charge will be subject to VAT, although there are some exceptions.
Facilitation of an adviser fee
If you wish to take an adviser fee on your client’s portfolio, your client should complete our adviser fee schedule, which is on the reverse of our Schedule of Charges. We will deduct the agreed fee quarterly and pay this to you. Please take care when considering the VAT position of your adviser fee.
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 “Broker Charge” column of the tables below to the value of the transaction in each market.
*Our chosen broker for executing equity orders in the markets listed above will apply a minimum charge if the value of an order does not meet a particular threshold it has set. These minimum charges are detailed in the tables 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 set by the broker is exceeded 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. If you would like more detail on this, please contact your Investment Manager.
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