VERBATIM DISCRETIONARY SERVICE

Transcription

1 FOR INTERMEDIARY USE ONLY, SHOULD NOT BE DISTRIBUTED TO CLIENTS

2 VERBATIM Contents Our Discretionary Service Why choose the Verbatim Discretionary Service? How does it work? The Model Portfolio Managers Discretionary Management - Providing Outstanding Value How do I start using the Verbatim Discretionary Service? 2

3 Our Discretionary Service Verbatim Asset Management provides complete supply chain management service helping advisers to power profitable and compliant business models. Consultancy Services Client Facing Capacity For Loss Asset Allocation Learning Risk Inv & Ret Goals Your Services Adviser Support Advice Tools Cashflow Planning Living In Retirement Model Portfolios Funds Partner Funds Investment Solutions Y O U R Client S E R V I C E S Client Management Back O ce Fund Supermarket Capital Protected Solutions DFM Service Delivery Aviva Tax Wrappers & Platforms Verbatim Product Centre Elevate Prudential Cofunds Zurich The introduction of the Verbatim Discretionary Service allows you to further enhance your service to your clients by providing alternate investment solutions. The Verbatim Discretionary Service is an innovation in discretionary management, which removes the barriers to using a traditional discretionary service by improving accessibility. Verbatim is providing you with your very own Discretionary Management Service that keeps you in control of client relationships, and ensures your clients holdings remain suitably aligned with your advice - all at a competitive cost. 3

4 Why choose the Verbatim Discretionary Service? The Discretionary Managers or Model Portfolio Managers will never contact your clients. They will invest your client s money based on a set mandate, and will never know the identity of your clients, ensuring you remain the only point of contact and the face of the Discretionary Management Service to your clients. In order to remain invested with the Discretionary Management Service all clients must stay aligned to an adviser, at any given time. Assisting you in client retention through building long term relationships. Clients can switch easily and swiftly between the different managers, all within one structure. Giving you the ability to offer flexibility according to your clients requirements and a smooth way to adapt to changing needs. Adviser charging (up to 1.2%) is easily facilitated and charges can be set at different levels for different clients, allowing you to determine your own fee structure for this service. A range of compelling client proposition materials exist to help you explain your investment process and your Discretionary Management Service to your clients. You can apply your own branding and print high quality documents that assist you in positioning your business in a professional manner to clients. 4

5 How does it work? Client Adviser Reports / Deposit Funds Discretionary Managers Investments 5

6 How does it work? By working with a range of Model Portfolio Managers, you can select the manager most suited to your clients requirements as you would if you were building your own portfolio of funds. The selected managers offer a range of investment styles and strategies for you and your clients to choose from the most appropriate style to meet your clients needs. All the managers work within the strict asset allocation parameters of the Verbatim compliant investment process, with strict limits on the changes they can make, ensuring client investments remain aligned to their risk profile. Each selected manager has been subjected to a thorough due diligence process and are continually monitored. Verbatim will add new managers at any time should the need occur. The Dynamic Model Management process ensures that all client portfolios are regularly updated, removing the need for rebalancing, and giving your clients added benefits. 6

7 The Model Portfolio Managers The following firms have been chosen for their complimentary styles and the range of investment approaches they bring to your discretionary management service. Each has been approved following a lengthy and thorough due diligence process. Smith & Williamson is a large, long standing independently owned wealth manager. The types of investments they choose are open ended funds, investment trusts, ETFs and direct fixed interest securities. They invest in liquid assets to ensure they have maximum flexibility. They have an experienced and proven investment team. James Burns Fund Manager James joined Smith & Williamson in September 1999 and started working on the investment trust desk in January He is now Head of the Multi Manager desk, managing the Smith & Williamson MM Global Investment Fund, the Smith & Williamson MM Cautious Growth Fund (all funds of investment trusts), and is co-manager of the Smith & Williamson MM Endurance Balanced Fund (a fund of open-ended funds). James sits on the Asset Allocation Policy Committee and he also co-ordinates the investment trust recommended list for the Private Client department. James graduated from the University of St. Andrews in 1998 with an MA (Hons) and is a Chartered Member of the Chartered Institute for Securities & Investment. David Amphlett-Lewis Fund Manager David began his career with Societe General Investment Management in 1999 where he was involved with establishing a portfolio management service for individual and company pension schemes. He joined Smith & Williamson in 2010 from Deutsche Bank where he was responsible for multi-asset portfolios with narrowly defined medium to long term objectives agreed in advance with external professional advisers. David chaired the Asset Allocation Review Committee at DB Tilney and has lectured at Personal Financial Society events across the UK. 7

8 TCF is a niche owner managed boutique wealth manager who focuses on risk and cost management. They choose to invest in low cost, multi-asset class passive portfolios. Key to these wealth managers is that the owners invest alongside client funds. James Hambro & Partners is a small, owner managed boutique, traditional private asset manager. Their investments of choice are direct equities and funds but they are committed to open architecture and are not tied to using any specific investment instrument of fund management house. David Norman Fund Manager David (aka DAN) began his career in financial services in 1986 having originally trained as an industrial chemist. He held a number of senior roles in life and pensions companies ultimately specialising in asset management with Threadneedle Asset Management. Following roles as MD (Retail) for Insight Investment and Director (Marketing & Products) for Aviva, he was most recently Chief Executive of Credit Suisse Asset Management (UK & Ireland). DAN is an Associate of the Chartered Securities Institute and a Fellow of the Chartered Institute of Marketing - he describes his hobbies as almost anything to do with petrol. He is CEO of TCF Investment. John Langrish Fund Manager John graduated from the University of Nottingham and joined Sun Life of Canada Asset Management as an investment analyst in He also managed institutional portfolios, including unit trusts, UK pensions and life funds. Moving on in 1999, he rose to become Head of UK Equities at JP Morgan Fleming Private Asset Management. John joined Rothschild Private Banking & Trust in 2002, managing 400m of private client portfolios. As Joint Head of Portfolio Management and Head of UK Equities, he played a leading role in the development of investment process and philosophy. He joined James Hambro & Partners in January He is an Associate of the CFA Society, holding the CFA Institute s ASIP qualification. 8

9 Henderson Rowe is a small owner managed boutique wealth manager. They use quantitative screening and detailed research to make investment decisions. They use passive instruments blended with stock picking and invest in direct equities and funds. Finlay Maclennan Fund Manager After gaining an MSc in Investment Analysis from Stirling University in 1994, Finlay started his investment career with Scottish Amicable, working as a UK equity analyst for 3 years. Then he moved to Edinburgh Fund Managers to work as a portfolio manager for 2 years, before moving down to London to Baring Asset Management. Finlay is a Chartered Financial Analyst. Before joining Henderson Rowe, Finlay worked for Principal Investment Managers. Finlay joined Henderson Rowe in November 2008 because he felt that their balance of quantitative and qualitative research, within a disciplined investment process, made it more likely to meet clients expectations. You can also choose to invest in any of the Verbatim Tier 3 Model Portfolios which are created by RAYNER SPENCER MILLS and managed by Verbatim Discretionary Managers through the Verbatim Discretionary Service. Rayner Spencer Mills Financial Consultancy has independently constructed optimised portfolios using the model asset allocations for each of the Risk Levels Ken Rayner Fund Manager After graduating from Leeds University with a Degree in Economics and Economic History, Ken joined Sun Life which provided an excellent grounding in the life, pension and investment industry. He joined Bradford & Bingley in 1990, where he held a number of product and marketing roles and latterly had responsibility for all financial services product development and pricing. In addition he was Investment Fund Manager for Bradford & Bingley s PEP and ISA Discretionary Management business where he controlled in excess of 700m of client funds. Ken sits on the Investment Committees for a number of our key advisory clients helping them deliver their investment strategies. He is head of Investment research at Rayner Spencer Mills and runs several portfolios for our clients. In his spare time Ken has a busy family life, plays hockey and runs the odd marathon. 9

10 Discretionary Management - Providing Outstanding Value You can provide your own discretionary management service to your clients for less than 1% plus VAT. Administration of the assets is priced at just 0.3% plus VAT Active Discretionary Management is available for 0.5% plus VAT Low cost Passive Discretionary Management can be accessed for just 0.4% plus VAT The Dynamic Model Management process ensures that rebalancing and trading costs are minimised, resulting in access to a discretionary service without the prohibitive fees. An adviser charge of up to 1.2% plus VAT can be taken from the client s holdings. There is no minimum investment amount for the Verbatim Discretionary Service, allowing you to decide which clients the service is most appropriate for according to their needs and requirements, rather than just the size of their investment. While there is no set minimum investment amount for this service, as a guide we suggest 10,000 for passive investments and 20,000 for active investments, however the choice is yours. 10

11 How do I start using the Verbatim Discretionary Service? If this service sounds suitable for your needs you can sign up and start using the service quickly and easily. Simply follow the instructions below and you will be able to get started before you know it. Visit the Verbatim Website go to Discretionary Management / How to Apply, and download the Adviser Application Form and the Adviser Terms of Business. You will need to read through and complete both these documents and return them to Verbatim Discretionary Managers, Cedar House, 3 Cedar Park, Cobham Road, Wimborne BH21 7SB. Once your application has been processed you will be given access to the Verbatim Discretionary Service Website which you can reach from the Verbatim website. You can download a handy user guide to help you to get started using the service. If you need any help with this process or have any questions about the Verbatim Discretionary Service, in the first instance please get in touch with your Regional Development Manager / Development Manager or you can contact the office by ing: dms@verbatim-am.co.uk or speak to one of our Adviser Services team by calling All other documents you will need to use with your clients are available on our website. Go to Discretionary Management / User Guides / Client User Guide to download the document you need. We do also offer some client facing materials for you to use which you can personalise and order through the Verbatim Printshop

12 Verbatim has taken due care and attention in preparing this document which is solely for the internal use of the intended recipient. It has been prepared solely on the basis of information and documents made available. Verbatim has not investigated the accuracy of such information and documentation and, consequently, cannot be held responsible for any inaccuracies arising out of such information and documentation. It is for the intended recipient only to implement any actions that they deem relevant from the information contained within. Verbatim does not accept any liability to the intended recipient or to any third party for any loss arising out of or in connection with this feedback, except in the event of gross negligence. In any event, any liability shall be limited to a sum equivalent to the amount paid in membership fees by the intended recipient over the last 12 months. Registered Office: The John Smith s Stadium, Stadium Way, Huddersfield, West Yorkshire, HD1 6PG Verbatim Asset Management PLC is registered as a company in England and Wales, number and is authorised and regulated by the Financial Conduct Authority: FCA Registration Number Verbatim Asset Management PLC The John Smith s Stadium Stadium Way Huddersfield HD1 6PG Company No: E: dms@verbatim-am.co.uk W: FOR INTERMEDIARY USE ONLY AND SHOULD NOT BE DISTRIBUTED TO RETAIL CLIENTS