|Value of portfolio||State total value and currency of the portfolio|
|Item||Charges to be shown as a % of the portfolio value over a year|
|One-off fee or charge||Any one-off fee or charge made, for establishing the portfolio|
|VAT on initial charge||VAT on charges above|
|From cash only: transaction charges to establish the portfolio||Estimate of all transaction charges charged from 100% cash. This only applies in the first year unless otherwise stated|
|Total initial charge||Total of above charges|
|Annual management charge||AMC as a % of the FUM to include fixed fees and any charges regularly applied|
|Dealing charges (assuming default level of turnover at 40%)||Dealing charges - either state actual charges or base on 40% turnover of portfolio; if estimated state "E"|
|Custodian and platform charges||Fixed fee as a per cent of the total portfolio value or as a percentage rate|
|Other activity charges||Fixed fee as a % of the total portfolio value or % rate for services required annually which are not included in the AMC e.g. tax vouchers, CGT reports, standard valuations etc. Do not include exceptional charges e.g. additional valuation charges|
|VAT applicable to above charges||VAT on charges above|
|Underlying TER of funds||Weighted TER of funds held in the portfolio|
|Initial fees for funds||Based on 40% turnover of funds in the portfolio, weighted across the portfolio|
|Total account cost||Total of annual charges above|
|For the estimate of transaction charges||Percentage turnover used*|
|*Transaction costs are estimated based on a 40% turnover of the portfolio - that is an assumption that 20% of holdings are sold and replaced. Due to the bespoke nature of discretionary portfolio services, it may not reflect the true costs experienced on any individual account. This TAC does not include: any adviser charge payable to a financial adviser; third party administration charges for pensions or bonds; an estimate of stamp duty payable to HMRC; external broker costs; any allowance for dealing spreads either in funds or stocks; any interest retained by the discretionary manager on cash deposits; the cost of foreign exchange transactions; any underlying charge for closed ended funds such as investment trusts.|
- Standard Life Aberdeen: 'rapid move to a simple future'
- How firms ensure fund managers don’t break rules
- Danger! The products that worry wealth managers
- Is Mifid II the final nail in the wealth advisory coffin? 12
- What is the best way to pay wealth managers?
- Iress: a grand technological wealth design
- Mifid II conundrum: how do managers value good research?
Saturday Papers: RBS records first profit in a decade
And rebels press May with demand for UK to stay in customs union with EU.
- Friday Papers: Standard Life Aberdeen to quit insurance in £3bn deal
- Overnight Markets: Dow, S&P surge on energy and industrials
- Former Source co-founder to launch new ETF business
- Women at Barclays paid half men's salaries
- 15 reasons to back commodities
- Barclays makes Scotland hire after Julius Baer raid
Rathbones' Smith on China's economic hegemony ambitions
Discussing China's saving problem, Ed Smith argues that if the country opens up there will be an outflow of capital.
Liontrust ESG head says sustainable investment doesn't mean low return
Peter Michaelis talks about ethical investment growth and where he sees future opportunites.
Are platforms the biggest barrier to wealth manager ETF take-up?
Citywire hosted a roundtable discussion to find out how and if wealth managers are using ETFs in their clients' portfolios and the challenges they face trading through different platforms.
Profile: Philbin on the opportunity explosion in fund selection
The veteran fund selector expains how his role resembles football management
Walking with Wealth Managers: Louis Coke of Charles Stanley Guildford
Pub Club: At The Britannia in Richmond with Quartet Capital Partners
When Raymond James’ Mark Parello and Matthew Singleton popped to the House of Lords
Office Spotlight: Charles Stanley, Southampton
Passive funds and chocolate: 5 DFMs Lent sacrifices
Pub Club: At the White Horse with Close Brothers Asset Management's Matthew Stanesby
Epoch Wealth Management, the Bath-based firm collecting charity work on more than one count
MPS Investment Committee: Tacit's Paul Wharton on managing low risk strategies
Office Spotlight: Tilney, Newcastle-upon-Tyne
Podcast: Walking with Wealth Managers - Ben Gutteridge, Brewin Dolphin
Pub Club: At The Tokenhouse on Burns Night with James Burns
MPS Investment Committee: Cazenove Capital's Rooke on blending manager styles
Office Spotlight: Ravenscroft, Guernsey and Jersey
Bitcoin chatting cabbies! What bugs three wealth managers
Pub Club: At Singer Tavern with Rathbones' Robert Szechenyi
Office Spotlight: Standard Life Wealth, Bristol
MPS Investment Committee: Simon Doherty, Quilter Cheviot
Pub Club turns Kebab Club with Dan Adams, Psigma Investment Management
A day in the life of: Antony Keen, PM+M
MPS Investment Committee: LGT Vestra on where the risks lay in 2018
Office Spotlight: Rowan Dartington, Leeds