An annual management fee of 1% plus VAT will be charged on the value of the portfolio, taken half yearly in arrears. Dealing commission will be charged at 1.65% on the first £10,000 consideration and 0.5% on any balance (per deal).
There is a custody charge of 0.25% charged six monthly in arrears on the total value of ALL your accounts with Pilling & Co. The fee has a minimum of £25.00 and a maximum of £90.00 if you are registered for using our on-line portal Client Web Access (CWA). For clients who request postal documents the fees have a minimum of £30.00 and a maximum of £100.00. In other words, any value over £40,000 (non CWA) and £36,000 (CWA) is free so you may wish to consolidate your investments from other managers.
The discretionary account will be managed on a “contract of care” basis with the performance benchmarked against an appropriate market index. You will receive quarterly valuations and a comprehensive half yearly report and reconciliation. The minimum initial investment for the AIM portfolio is £30,000. The account can be liquidated and the sale proceeds paid to you at any time. In such an event, our normal dealing commission would be levied as well as the management charge on a pro rata basis.
If you would like to proceed simply complete the Discretionary Management Application Form and Discretionary Management Client Investment Questionnaire Form and return them to us. If you wish to sell existing securities to raise the funds to invest, you can detail these instructions on the enclosed application form. We will then establish an AIM portfolio on a discretionary managed basis, the securities will be registered in our nominee name.