Name
Address
Address
Address
Address
Post Code
Date
Dear
Ascentric Wrap service
Further to our recent meeting I confirm that we have commenced arrangements in order to set up your personal wrap account and transfer your existing investments as agreed, on to the platform.
Whilst writing, I would like to take this opportunity to confirm our recent discussions and the reasons underlying my suggestion that we consider moving your portfolio onto the wrap platform.
I feel this recommendation is appropriate to your current circumstances in that you have substantial funds in various investments, and holding these within the wrap will help analyse and track the performance of your holdings. Through this arrangement we will be able to offer you a much enhanced review service as outlined in our discussions and our Personal Financial Management brochure, plus you will be able to monitor fund values yourself as you wish, by accessing the platform through the website.
We have discussed the charges involved in providing this service as set out in our fee agreement and the Ascentric Key Features document. It would be inappropriate for me to repeat all the information in these items, but in summary of the main charges, for providing this service Name of IFA firm will charge 0.50%/0.75% of the value of your investments we keep under review.
Ascentric’s annual charge is currently 0.24% on funds up to £1m and 0.10% thereafter, plus a modest dealing charge on fund movements, however this will be changing in due course to a flat charge of 0.28% with no dealing charge on fund movements.
When selecting Ascentric as our wrap service, we considered a number of factors to ensure that their service contained the right features to satisfy client requirements. These included;
1) Competitive charging structure
2) Flexibility to include the broadest possible range of products
3) Fund analysis facilities available
4) Service
5) Client access availability
The 'key features document' supplied provides a great deal of information concerning the terms under which the Wrap operates. You should read the information carefully and contact me if you have any queries concerning them.
It is important that you are aware that the value of any investments selected can fall as well as rise and that past performance is not a guide to future returns. For property funds the value of land and buildings is generally a matter of a valuer’s opinion rather than fact. You may not be able to encash your investment whenever you choose as the fund managers reserve the right to delay disinvestment instructions for up to twelve months should property in the fund not be easy to sell. Our advice is based on current tax legislation, which may always be subject to change at some future date.
For my records please sign the enclosed copy of this letter and return it in the pre-paid envelope provided. In addition, please sign and return our Client Agreement.
If you have any queries please do not hesitate to contact me.
Yours sincerely
Adviser Name
Adviser Title
……………………………….