A tiered investment management fee is charged. This is subject to an overall minimum of £500 per half year.
Fees are calculated on the value of the portfolio semi-annually in arrears and are debited to the client’s income account with VAT added where applicable. The value will include the client’s principal portfolio, ISA portfolio, and balances on the capital account, and may be aggregated with other linked clients in order to benefit from the sliding fee scale.
GBIM will collect initial and/or annual fees on behalf of introducing intermediaries according to the fee scale they have agreed in writing with their clients. GBIM will disclose to the client that a fee has been paid to a third party.
No dealing commissions are levied by GBIM on transactions, thereby removing the conflict of interest that can exist where remuneration is linked to dealing volumes. Any OEIC or Unit Trust trail fees, discounts and introductory commissions are passed back in full to the client.We will reduce ongoing costs by only buying institutional units if possible. All transactions are processed by the custodian and may include stamp duty. No transaction charges will be made by the custodian or manager. With most direct securities we are able to deal net. Occasionally additional third party brokerage is incurred and normally amounts to around 0.2%.
An all inclusive fee of 0.15% per annum on the value of the portfolio administered is collected half yearly in arrears.
GBIM will manage Capital Gains issues on an ongoing basis unless instructed otherwise. A CGT report will be issued as part of the year end tax package.
GBIM will automatically subscribe clients’ annual allowance if funds are available unless instructed otherwise. Existing ISAs can be transferred and incorporated into an investment portfolio, either cash or in specie.
All clients assets are ring fenced at the custodian. We have market leading insurance cover in the unlikely event of a loss of client assets though criminal negligence. We consider that providing the best possible security to be an important part of the WiP service.
GBIM has a strong compliance culture. In respect of the investment management of their clients’ assets WiP may be able to help remove part of the intermediary’s compliance burden. GBIM has appointed an independent firm of APCC approved compliance consultants who both advise on and monitor the firm’s compliance procedures.
All WiP client portfolios held with our custodians will receive free probate valuations for those assets.
GBIM are happy to provide training and support for our WiP partners.