There is an "after sales service". You can contact us by letter, telephone or electronic mail:
- We will answer any general questions that you have on matters financial.
- We will answer any specific questions that you have about your investment accounts.
In addition, if your investment portfolio through us amounts to £40,000 or more in value:
- We will monitor its investment performance.
- We will advise you if changes are needed and recommend alternatives.
- We will review your general finances with you once a year.
- We will assist you with the completion of any tax returns that you receive.
The "service charge" is an annual 0.5% of the value of your investments, i.e. £5 for each £1,000. This fee is debited to your investment account. If you want more than one review a year, we will agree an additional fee with you, to be debited to your investment account.
There are also other charges that can be incurred as follows:
- If we switch an investment for you, there is a charge of 1% of the amount moved, i.e. £10 for each £1,000 moved. This will be debited to your investment account.
- For additional cash investments, the fee is 2% of the additional cash invested, i.e. £20 for each £1,000 invested. This will be debited to your investment account.
- Discounts apply for additional cash investment of more than £100,000 - on the same basis as for new cash investment.
- There is also a minimum fee of £150 for additional cash investment, i.e. if the amount invested is less than £7,500, the fee is more than 2%.
You may write to us at any time and terminate the "after sales service" without penalty. We may also write to you and withdraw or amend the "after sales service" without penalty.
If you were a client of David Cope & Partners Limited prior to 1st January, 2013:
- Most investment institutions with whom we dealt for you will probably be making regular payments to us already from your accounts (known as "trail commission").
- "Trail commission" usually amounts to 0.5% of the account value each year, i.e. it is synonymous with the "service charge" mentioned above.
- "Trail commission" is to continue in future until any alteration is made to the account – at which point the "trail commission" will be switched off.
- Where we receive "trail commission" on pre-1st January, 2013 accounts, you will receive the "after sales service" outlined above, on the same terms and conditions.
If your former "trail commission" is switched off and you require our on-going services, we can arrange "adviser charging" in place of the former "trail commission" at the same rate, i.e. there will not be an increase in your overall costs. We have to make alternative arrangements for collection of "adviser charges", but this will usually be at source and paid to us directly.
David Cope & Partners Limited understands that "service/adviser charges" are "VAT"-exempt. If this is over-ruled, we will not back-charge clients, but future fees will increase.