We are totally independent and receive no payment other than the fees we charge to our clients.

What are the fees?

 

The schedule below sets out the fees applicable under the Wealthtime Private Client Service on a percentage of fund basis. Please also read the notes at the foot of the table for additional information.

Portfolio Valuation Band
(excluding Offshore Bond Portfolio) per client/family*

Transaction fees % (per annum) quarterly in arrears

First £500,000

0.30%

Next £500,000

0.20%

Over £1,000,000

0.10%

Offshore Bond Portfolio

0.10%

Whilst we will use our reasonable endeavours to ensure the accuracy of the valuations we do not accept liability for errors, except errors arising as a direct result of our own wilful default. In no event will we accept liability for errors or omissions in regard to valuations provided by third parties.


Wealthtime also reserves the right to pass on to the clients any fees, charges or levies raised upon the financial services industry by external statutory or quasi statutory bodies such as levies raised by the Financial Services Compensation Scheme or by HM Revenue & Customs.

 

Bank charges (other than for CHAPS and foreign payments) are not currently payable on the designated Product Bank Accounts, but this may change in the future. Payments will normally be made by BACS which is free, but CHAPS (same day) payments, which will only be used when necessary or where there is a short investment settlement period, will be charged for by the bank, as will foreign payments. The charge will be debited directly from your designated Product Bank Account. Please note that for some investments, the fund managers may require CHAPs payments. CHAPS is currently charged up to £7.50 per payment.

 

We may increase our fees in the future but this will only be to reflect a general increase in work caused, for example by additional regulatory requirements or additional availability of facilities due to legislative changes. Such increases will apply equally to new and existing clients.

 

Wealthtime fees are not currently subject to VAT, but this may change in the future. Fees of third parties may be subject to VAT.

 

Bank Interest.

 

The current rate of interest applied to cash held in your accounts is 0.25% below Barclays Base Rate. Interest rates are subject to variation. Interest is credited quarterly. Wealthtime receives no payment from any bank in respect of any monies held within your Wealthtime Private Client Service Product Bank Accounts, but may receive interest from monies held in pooled accounts for transitional short periods before being allocated to the appropriate Designated Product Bank Account and as an administrative necessity this will be taken as a charge. Therefore, assuming the bank interest rate is 0.25%, if you had £1,000 of your money transitioning through a pooled account for one day then we would charge you approximately 1 pence. If you had £10,000 of your money transitioning through a pooled account for one day then we would charge you approximately 7 pence. If you had £100,000 of your money transitioning through a pooled account for one day then we would charge you approximately 68 pence. These transitional periods are normally less than one day but can be two days for BACS and cheques will depend on the speed of clearance, which will normally be five days.

 

Other Charges.

 

Other charges may include Adviser Charges to your Financial Adviser, at the rate that you agree with him/her and as specified in your Adviser Charges Agreement.

 

Additional fund management charges apply when you buy funds. These will include the charges of the Investment Fund Manager. The stockbroker you choose to deal with will make additional charges for trading in stocks and shares, including ETFs. Stamp duty is also payable on share purchases. Where Wealthtime uses a stockbroker for the purposes of arranging trades in ETFs under their omnibus bulking up facility, the stockbroker currently charges up to £9.99 per trade. There are currently no additional annual charges payable, but please note there may be charges in connection with, for example, corporate actions. Any stockbroker, discretionary investment manager, discretionary fund manager or Offshore Bond Provider you choose to use will make additional charges. Please refer to their relevant terms and conditions.

 

* A family means spouses, their children and a civil partnership.

Notes.

 

Wealthtime receives no payment other than from these fees.

 

Transaction Fees.

 

We will charge you a Transaction Fee, which will cover all the Transactions that take place in respect of your Wealthtime Private Client Service. We will not make any charge for management or administration of the Wealthtime Private Client Service. The amount of the Transaction Fee will be deducted quarterly.

 

The value of the quarterly Transaction Fee will be calculated using the Transaction Fee percentage set out in the table above, divided by 4 to get the quarterly rate and applied to the valuation of the overall Portfolio.

 

Quarterly Transaction Fees will be applied to your Wealthtime Private Client Service on or around the 7th of the month following their calculation and will normally be allocated pro-rata to the relevant Product Designated Bank Account. The quarterly Transaction Fees for the Offshore Bond will be taken on or around the 7th of the month or the next available date that there are sufficient funds within the Product Designated Bank Account.

 

Your Wealthtime Private Client Service valuation will be calculated on the quarterly anniversary of the date your Wealthtime Private Client Service was opened, and we will use our reasonable endeavours to obtain a valuation based on the last known asset value. Where a daily price for an asset is not available to us we will use the latest available price. We reserve the right to take our full quarterly fee, or a proportion of the fee, earlier than the quarterly anniversary of the date your Wealthtime Private Client Service was opened where not doing so would result in a significant under valuation of the fee due. This may occur where all or a majority of the funds in a product are withdrawn before the normal quarterly fee calculation date.

 

Please note we also reserve the right, where the cost of administering any nominal residual monies received after a full transfer out is greater than the value of the residual monies and / or the receiving provider refuses to accept the residual monies as being below their transfer minimum, to deduct the residual monies as a fee contribution towards the administration costs.


Examples of the Wealthtime Transaction Fee in monetary terms. A total client/family portfolio valuation of:

· £1,000 would pay a fee of £0.75 per quarter in arrears

· £5,000 would pay a fee of £3.75 per quarter in arrears

· £50,000 would pay a fee of £37.50 per quarter in arrears

· £150,000 would pay a fee of £112.50 per quarter in arrears

· £550,000 would pay a fee of £400 per quarter in arrears.


The Wealthtime Private Client Service is administered by Wealthtime Limited, which is authorised and regulated by the Financial Conduct Authority.
Wealthtime recommends that before making a decision regarding this service and the investments you should contact your Financial Adviser.

Wealthtime Limited, The Oak House, Barford Lane, Downton, Salisbury, Wiltshire SP5 3QA T: 01725 512925 E: admin@wealthtime.co.uk

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