*For Managed Advisory & Execution Only clients
Following feedback, we are changing the way we collect our fees so that we can simplify the process and make things easier for our clients. Charges on Managed Advisory & Execution Only accounts will now be taken directly from the cash in your portfolio, so there is no need to remember to make any ad hoc payments to cover fees due.
If there’s not enough cash, we will sell some of your investments (starting with the largest holding) to both cover our charges and leave a Minimum Recommended Cash Balance in order to avoid costly small transactions.
The Minimum Recommended Cash Balance for your portfolio depends on the level of service you receive, and is shown below.
The Minimum Recommended Cash Balance aims to give you an idea of the amount of cash you should hold but you can ignore it if you wish. As the value of your holdings fluctuates, so will your fees. You can always hold more or less cash and the current rate of interest we pay on sterling deposits is 0.25%pa.
We will continue to inform you when your account moves into debit until April, but thereafter we will automatically raise funds to bring cash back up to the Minimum Recommended Cash Balance.
IF YOU HAVE ANY QUERIES ABOUT THIS THEN PLEASE SPEAK TO YOUR USUAL WHIRELAND CONTACT +44 (0) 20 7220 1666 | enquiries@whirelandwm.com