INVESTMENT SERVICES

Riverpark Investment and Financial Consultants Ltd is permitted to advise on and arrange (bring about) deals in investments.

With regard to investments which we have arranged for you, these will not be kept under review, but we will advise you upon your request.  However, we may contact you in the future by means of an unsolicited promotion (i.e. where you had not expressly requested it) should we wish to contact you to discuss the relative merits of an investment or service which we feel may be of interest to you.  

Riverpark Investment and Financial Consultants Ltd does not handle clients’ money.  We never accept a cheque made payable to us or handle cash (unless it is payment in settlement of adviser charges or disbursements for which we have sent you an invoice).  If you do send us money, this may delay your transaction as we may have to return this money to you.

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REGULATORY STATUS

Riverpark Investment and Financial Consultants Ltd, Suite 3 (1-6), 4 Rogart Street, Glasgow G40 2AA is authorised and regulated by the Financial Conduct Authority(FCA).  Our Financial Services Register number is 455480.  

You can check this on the Financial Services Register by visiting the FCA’s website – www.fsa.gov.uk/register/home.do or by contacting the FCA on 0800 111 6768.

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CLIENT CATEGORISATION

In providing investment services to you, we will categorise you as a retail client.  The type of client category will determine the level of protections afforded to you under the regulatory system.  As a retail client the regulatory protections available to you are determined by this category and will be the highest available.

Where we have categorised you other than as a ‘retail client’ (see above), you may request re-categorisation under a client category which benefits from a higher degree of protection.  However, we reserve the right to agree to such a re-categorisation on a case-by-case basis, and where we agree to do so it does not necessarily mean that you will have a right of access to the Financial Ombudsman Service.

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WHICH SERVICE(S) WILL WE PROVIDE YOU WITH?

Independent advice
We will advise and make a recommendation for you after we have assessed your needs.  Our recommendation will be based on a comprehensive and fair analysis of the market.

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CONFLICTS OF INTEREST

Riverpark Investment and Financial Consultants Ltd offers advice in accordance with that described in this document.  Occasions may arise where we or one of our other clients have some form of interest in business being transacted for you.  If this happens or we become aware that our interests or those of one of our other clients conflicts with your interests, we will write to you and obtain your consent before we carry out your instructions, and detail the steps we will take to ensure fair treatment.

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TERMINATION OF AUTHORITY

You or we may terminate our authority to act on your behalf at any time, without penalty.  Notice of this termination must be given in writing and will take effect from the date of receipt.  Termination is without prejudice to any services already provided / transactions already initiated, which will be completed according to the Client Agreement unless otherwise agreed in writing.  You will be liable to pay for any transactions made or carried out prior to termination and any adviser charges or other fees which may be outstanding.

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RIGHT TO WITHDRAW

In the case of many retail investment products – such as life assurance contracts, personal pension schemes, investment bonds, and collective investment arrangements (e.g. unit trusts), a right to withdraw or cancel the contract within a specified period is normally provided.  Details of such rights are ordinarily contained in the product literature (e.g. Key Features document) and/or we may provide details of such rights in a separate communication.  
 
In the case of any non-retail investment products e.g. an ISA wrapper, we will inform you in writing of any right to withdraw or cancel you may have or, if it is the case, we will inform you in writing that no such rights will apply.

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CLIENTS RISK

You are advised that because investments can fall as well as rise, you may not get back the full amount invested.  Past performance is not a guide to future performance.

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WHAT WILL YOU HAVE TO PAY US FOR OUR SERVICES?

You will pay for our services on the basis of an adviser charge.

We will discuss your payment options with you and answer any questions you have.  We will not charge you until we have agreed with you how we are to be paid.

All fee amounts quoted below are exclusive of VAT, expenses and disbursements; these will be added to the invoice if applicable.       

Initial advice service
Our initial advice will be appropriate for you, based on your requirements and circumstances at that time.  We will not ensure that any initial advice remains suitable for you at a later date, unless you select to receive ongoing services from us.

Ongoing services
In addition to our initial advice services, you could ask us to undertake further services on an ongoing basis.  Details of any ongoing services that we offer are detailed later within this document.  

Our typical adviser charges are noted below.  The exact amount may be more or less than this, but will be specifically agreed with you based on the work you ask us to do for you.  

We will confirm the actual adviser charges in writing within our separate ‘Services & Payment Agreement’, before providing our services to you.

If we do not agree a fixed adviser charge with you at outset, you may ask us for an estimate of how much in total we might charge for any service(s) provided.  You may also ask us not to exceed a given amount without checking with you first.

 

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THE COST OF OUR SERVICES

Payment for initial advice services

Before we provide any services to you, we will gather information about your circumstances and needs.  

We will not make a charge for this.

AND  

After this we will charge you:

A one-off ‘adviser charge’ as a percentage of the initial investment amount as follows:

£1 – £500,000           3% – subject to a minimum of £100 and a maximum of £15,000
£500,001 – £5m        2 % – subject to a maximum of £100,000

If you invest a lump sum of £100,000 into a personal pension plan, we would charge an ‘adviser charge’ of 3 % of the amount invested, which would mean an initial ‘adviser charge’ of £3,000
(£100,000 x 3 % = £3,000)

If you invest a lump sum of £500,000 into a personal pension plan, we would charge an ‘adviser charge’ of 2% of the amount invested, which would mean an initial ‘adviser charge’ of £10,000
(£500,000 x 2% = £10,000)

We will tell you how much the initial ‘adviser charge’ will be before you complete an investment, but
you may ask for this information earlier.

OR

An ‘adviser charge’ based on a % of the regular premium amount as follows:

£1 – £5,000         12.5 % per month for 12 months, subject to a minimum total fee of £100 and a maximum of £6,000 overall.

£5,001 – £20,000        10 % per month for 12 months, subject to a minimum total fee of £4,800 and a maximum of £24,000 overall.

Typical cost:
£100 total fee charged, payment will be taken as £8.33 over 12 months
£200 per month x 12.5% = £25 monthly charge over the first 12 months
£1,000 per month x 12.5% = £125 monthly charge over the first 12 months

We will tell you how much the initial ‘adviser charge’ will be before you complete an investment, but
you may ask for this information earlier.

Payment for ongoing services

There will be an additional charge for any ongoing work, such as periodic or ongoing reviews we carry out on your behalf.  We will confirm the rate, frequency and length of any ongoing service(s) before commencing that ongoing service.

Ongoing services offered:

Typical Costs:

Asset Area 1            £40,000 x 0.75% ongoing fee = £300 pa
Asset Area 2            £120,000 x 0.75% ongoing fee = £900 pa
Asset Area 3            £200,000 x 0.75% ongoing fee = £1500 pa

We will agree what will be charged before any service(s) provided and the amount will be confirmed within our ‘Service & Payment Agreement’.  

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YOUR PAYMENT OPTIONS

Settling your adviser charge in a single payment

Whether you buy a product or not, you will pay us an adviser charge for our advice and services which will become payable on completion of our work.

You will be required to settle the payment of your adviser charge on completion of our work within 28 business days.  We accept cheques.  We do not accept payment by cash.  You will be provided with a receipt upon payment.    

AND / OR

Settling your adviser charge by instalments  

This option is only available if we recommend regular premium products and no ongoing service is provided.  

Paying by instalments through your recommended product

If you buy a financial product, you can choose to have your adviser charge deducted from the product through instalments.  Although you pay nothing to us up front, that does not mean that our service is free.  You still pay us indirectly through deductions from the amount you pay into your product.  These deductions will pay towards settling the adviser charge.  These deductions could reduce the amount left for investment.       

How your payment plan works:

Monthly payment:
£125 per premium      Advice £125
Period: 24 months     Invested: £875
    

If you choose to pay for the advice you receive through instalments, these instalments will be deducted from the premium you pay each month and allocated towards settling the adviser charge.  For example, the total cost of advice is £3,000.  You have been recommended a regular premium product of which £1,000 will be paid each month.  £125 will be taken from this amount to pay off your adviser charge over 24 months.  The remaining £875 will be invested during this time.  At the end of this period the adviser charge would have been settled in full.  From month 25 the full £1,000 will be invested.    

Keeping up with your payments  

If you choose to pay for the advice you receive via instalments, the full amount of the adviser charge will need to be paid irrespective of whether:

• the recommended product(s) is /are cancelled before the full amount is paid; and/or
• you subsequently decide to transfer your business to another firm / financial adviser.

Any outstanding amounts, as at the date of cancelling the recommended product / transferring to another firm or adviser, will be due to be paid in full within 28 business days of the termination / transfer date.  An invoice will be raised for the full outstanding amount.

Information about other costs and associated charges
There may be other costs, including taxes, that are payable through other parties (such as the product provider) that we may not be party to. Such charges are normally disclosed in relevant third party documentation, for example a Key Features Document.

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ACCOUNTING TO YOU

We will confirm to you in writing the basis or our reason for recommending the transaction executed on your behalf.

We will also make arrangements for all your investments to be registered in your name unless you first instruct us otherwise in writing. We will forward to you all documents showing ownership of your investments as soon as practicable after we receive them; where a number of documents relating to a series of transactions is involved, we will normally hold each document until the series is complete and then forward them to you.

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INVESTMENT OBJECTIVES & RESTRICTIONS

Following the issue of this document, any subsequent advice or recommendation offered to you will be based on your stated investment objectives, agreed level of risk you are prepared  / able to take and any restrictions you wish to place on the type of investments or policies you are willing to consider. Details of your stated investment objectives will be identified during our discussions with you and confirmed within the suitability report that we will issue to you to confirm our recommendation(s). Unless confirmed in writing, to the contrary, we will assume that you do not wish to place any restrictions on the advice we give you.

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BEST EXECUTION POLICY

It is in the interests of our clients and Riverpark Investment and Financial Consultants Ltd that we obtain the best possible result when placing orders with other firms (e.g. third party brokers) for the execution of client orders or when transmitting orders on behalf of clients for particular investments – e.g. shares.  We are required under the Rules of the Financial Services Authority to take all reasonable steps to provide ‘best execution’ when carrying out such transactions.  

Where we place or transmit orders for such investments on behalf of our clients, we may utilise the services of a third party broker and base our decision to place or transmit an order on the price and cost of execution of the order.  For orders in collective investment schemes (e.g. unit trust), however, the price of units or shares in the scheme is normally set by the scheme operator or manager and as such we have little influence over the price available.  

Full details of our best execution arrangements are provided in our Best Execution Policy, a copy of which can be provided on request.

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MODE OF COMMUNICATION

We will enter into communication with you through whatever means are convenient to you and us, including face-to-face, telephone, e-mail and other acceptable electronic communication methods.

WHAT TO DO IF YOU HAVE A COMPLAINT

If you wish to register a complaint, please contact us:

 

• In writing: Write to Riverpark Investment and Financial Consultants Ltd, Suite 3 (1-6), 4 Rogart Street, Glasgow G40 2AA.
• By phone: Telephone 0141-554-3881.

If you cannot settle your complaint with us, you may be entitled to refer it to the Financial Ombudsman Service.

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ARE WE COVERED BY THE FINANCIAL SERVICES COMPENSATION SCHEME (FSCS)?

We are covered by the FSCS. You may be entitled to compensation from the scheme if we cannot meet our obligations.  This depends on the type of business and the circumstances of the claim.  Most types of investment business are covered up to a maximum of £50,000.  Further information about compensation scheme arrangements is available from the FSCS.

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COMPANIES ACT DISCLOSURE

Registered address:-145 St Vincent St, Glasgow, G2 5JF.  Registered in Scotland No. 220303.

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DATA PROTECTION

Please refer to the separate Data Protection Statement that we have issued to you that sets out how we collect and use data about you.

 

FINANCIAL OMBUDSMAN SERVICE

Where you have a complaint or dispute with us and we are unable to resolve this to your satisfaction then we are obliged to offer you the Financial Ombudsman Service to help resolve this. Please see the following link for further details:

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financial-ombudsman.org.uk