ONGOING AdvIser Fee
AuthOrIsAtION
Individual Savings Account (ISA), Collective Investment Account (CIA),
Collective Retirement Account (CRA) and Collective Investment Bond (CIB)
With this form you can:
– set up new fee instructions u Collective Retirement Accounts or Collective Investment Bonds on Charge Basis 1 will then convert to Charge Basis 2, switching off any existing commission
– amend existing fee instructions
– choose to convert to Charge Basis 3uCRA only.
1. 2. 3. 4.
*APAFA0100F*
Complete the account/bond numbers and tick to indicate the products each number relates to.
Account/Bond number* Account/Bond number* Account/Bond number*
CIB
ISA CIA CRA
CIB
ISA CIA CRA
CIB
ISA CIA CRA
* If this instruction relates to a new account/bond please provide the online application number instead.
march 2016
Have you received financial advice in respect of the instructions given in this form? (tick)
If yes, please tick to confirm the basis on which the advice was given. Independent
Yes No
Restricted uyour financial adviser will help you answer this
If you do not complete this section, we will assume you have received advice on an independent basis.
1 fuLL namEs of inVEstors
2 your inVEstmEnts
3 financiaL adVicE rEcEiVEd
the fees authorised on this form will apply to Each of the investments you list below where available. if you wish different fees to apply to different accounts/bonds, you must complete a separate form for each one.
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• Switch and servicing fees deducted from a:
– CIB, will be deemed partial surrenders and count towards your 5% tax deferred allowance. – CIA, will be deemed disposals for cGt purposes unless they are deducted from cash deposit.
• The 5% tax deferred allowance on a CIB should be calculated using the net investment amount, ie after any initial fee has been deducted • The notes at the end of the form will help you complete it; they also explain how we will carry out your instructions.
• Errors or omissions by you or financial adviser will not be corrected retrospectively.
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dIRECT dEBIT INITIAL FEE
%
%
%
direct debits paid by you, the investor: direct debits paid by a third party: direct debits paid by your employer: uCRA only
each direct debit each direct debit each direct debit OR OR OR
£
£
£
SERvICINg FEEThis is an annual amount which will be divided by the payment frequency selected and paid to your adviser accordingly. Yearly Monthly Quarterly Half-yearly
Tick the frequency required
Yes Add vAT on top of the Servicing Fee?
Full fund names
tick/compLEtE your fund choicE for thE fEE/charGE dEductions: Largest fund
Proportionally across all funds
From the following funds (in proportion to their bid values):
l Any Servicing Fee you authorise here will apply to the entire account/bond and will override any existing Servicing Fee instruction on your account/bond.
FuNd SwITCH FEE
£
OR%
from each switchl Any Switch Fee you authorise here will override any existing Switch Fee instruction on your account/bond.
we will sell units to meet the Product/Service Charge and Adviser Servicing Fees (if applicable) as follows: l managed portfolio service (mps) investors – we will automatically deduct fees/charges proportionally from all funds. l other investors – by selling from the funds you choose below.
up to:
4 adVisEr fEE dEtaiLs
uthe notes accompanying this form explain how these fees will be met5 conVErtinG to charGE Basis 3
ucra only6 product/sErVicE charGE and adVisEr sErVicinG fEE dEductions
%
OR
£
each yearTick/Complete as required
LuMP SuM INITIAL FEE (ISA/CIA/CIB)
Ad HOC FEE FOR RE-REgISTRATION (ISA/CIA)
%
%
£
£
Lump sum (ISA/CIA/CIB)
Re-registration (ISA/CIA only)
of the lump sum
of the value of the re-registered units
%
OR
£
Lump sum/transfer (CRA) of the lump sum/transfer value l For CRA only, a global Initial Fee applies, in respect of aLL lump sum and transfer payments included in the online application specified.
The notes accompanying this form explain how the global Initial Fee will be met.
l If selected as a percentage, the fee will apply to the balance invested into your account after any immediate tax-free cash has been deducted, not the total lump sum/transfer payment.
uafter deduction of any immediate tax-free cash
tick here if you wish to convert your cra from charge Basis 1 or 2 to charge Basis 3. OR
OR
• Existing commission arrangements will not convert to fees when an account/bond converts from Charge Basis 1; if fees are required, please complete the relevant sections below as applicable.
• if you wish to cancel an existing fee instruction using this form, enter £0 or 0% in the boxes for the fee in question. it will be cancelled for the whole account/bond.
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l This fee will be deducted as an ad hoc fee when re-registration of all the funds is complete; more information is in the notes accompanying this form.
uI SAs and CIAs are on Charge Basis 3 already. CIBs listed in section 2 cannot convert to Charge Basis 3; CIBs on Charge Basis 1 will automatically convert to Charge Basis 2 when this form is submitted.
gLOBAL INITIAL FEE (CRA)
CASH TRANSFER FEE (ISA/CIA)
%
£
Cash transfer (ISA/CIA) OR of the transfer value
l If the cash transfer fee is requested as a monetary amount, it will be deducted as an ad hoc fee; if requested as a % it will be deducted as an initial fee. More information is in the notes accompanying this form.
thE dEcLaration is madE By Each inVEstor/trustEE (actinG jointLy With thE othEr trustEEs, if any)/siGnatory in rEspEct of Each account/Bond dEtaiLEd in sEction 2.
a) i instruct oLd mutuaL WEaLth to:
i) deduct any fees detailed in this form from each of my accounts/bonds shown in section 2 and pay them to my financial adviser firm ii) stop commission payments to them where applicable in respect of these accounts/bonds.
B) i undErstand that:
i) any current commission payments will stop immediately, and the agreed fee(s) will be paid in line with my account/bond Terms and Conditions ii) the fee(s) agreed will be deducted from my account/bond as outlined in this form
iii) if vAT applies and if I have ticked ‘Yes’ to vAT in section 4, the amount of any Servicing Fee shown will be increased to include vAT at the rate prevailing when the fee is deducted
iv) if I select a percentage fee, the amount paid to my financial adviser firm will vary as follows:
• Servicing Fee – the amount may go up or down depending on the value of my account on the date the fee is calculated • Switch Fee – will be based on the value of the switch proceeds
• Direct Debit Initial Fee – will change if my direct debit amount changes v) I will need to reauthorise any future increases to fees
vi) the adviser fee(s) will apply to ALL investments I hold in my accounts/bonds stated in section 2.
c) i confirm that:
i) my financial adviser has explained the effect that selling units from my accounts/bonds to pay Adviser Charges will have on the future value of my investment
ii) any fee(s) authorised in this form in relation to a Collective Retirement Account are solely in relation to advice and/or services my financial adviser has provided or will be providing in relation to that account and do not relate to any other advice or services my adviser has provided
iii) I have the authority to approve instructions for each account/bond shown in section 2
iv) where the fees (other than initial fees) relate to my CIA or CIB, before I signed this form my financial adviser explained the tax implications of Old Mutual wealth deducting these fees.
d) i undErstand that:
i) I can amend or cancel a Servicing Fee or Fund Switch Fee by giving at least 10 working days’ notice to Old Mutual wealth
ii) I cannot cancel a fee once it has been deducted from my account/bond; instead I would need to contact my financial adviser to discuss whether a refund is payable in full or in part.
iii) a servicing fee cannot be deducted or paid on a pro rata basis following cancellation.
1. Signature 2. Signature 3. Signature 4. Signature / / / / / / / /
2 0
2 0
2 0
2 0
date (dd/mm/yyyy) date (dd/mm/yyyy) date (dd/mm/yyyy) date (dd/mm/yyyy)Print full name
Print full name
Print full name
Print full name
Capacity ueg investor, trustee, signatory, attorney
Capacity ueg investor, trustee, signatory, attorney
Capacity ueg investor, trustee, signatory, attorney
Capacity ueg investor, trustee, signatory, attorney
*APAFA0100X*
7 dEcLaration and authority
all investors/authorised trustees/authorised signatories for the accounts/bonds must sign below.
cra onLy - please sign the following declaration if fees have been requested from a cra.
I confirm that any fee(s) authorised in this form in relation to a Collective Retirement Account are solely in relation to advice and/or services I have provided or will be providing to the client in relation to that account and do not relate to any other advice or services I have provided.
Signature
/ /
2 0
date (dd/mm/yyyy)
Print full name Company name
*APAFA0100X*
send the completed form:
By post – Old Mutual wealth, Old Mutual House, Portland Terrace, Southampton SO14 7AY
online: Adviser use only – use PROMPT, our online tool which allows you to email certain documents* direct with just a few simple clicks
www.oldmutualwealth.co.uk/Adviser/PrOMPt
uIf using PROMPT, please do not send the original of this form too, because it could result in duplicate fees being deducted.
* Some documents cannot be sent using PROMPT, eg transfer paperwork and authorities.
www.oldmutualwealth.co.uk
Calls may be monitored and recorded for training purposes and to avoid misunderstandings.
Old Mutual wealth is the trading name of Old Mutual wealth Limited which provides an Individual Savings Account (ISA) and Collective Investment Account (CIA) and Old Mutual wealth Life & Pensions Limited which provides a Collective Retirement Account (CRA) and Collective Investment Bond (CIB).
The wealthSelect Managed Portfolio Service is provided by Old Mutual wealth Limited and Old Mutual wealth Life & Pensions Limited
Old Mutual wealth Limited and Old Mutual wealth Life & Pensions Limited are registered in England and wales under numbers 1680071 and 4163431 respectively. Registered Office at Old Mutual House, Portland Terrace, Southampton SO14 7EJ, united Kingdom. Old Mutual wealth Limited is authorised and regulated by the Financial Conduct Authority. Old Mutual wealth Life & Pensions Limited is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. Their Financial Services register numbers are 165359 and 207977 respectively. vAT number 386 1301 59.
when printed by Old Mutual this item is produced on a mixed grade material, which uses a combination of recycled wood or paper fibre from controlled sources and virgin fibre sourced from well managed, sustainable forests.
SK8558/216-0342/March 2016 (w Ongoing Fee Form)
8 for your financiaL adVisEr
adviser fees will be subject to the limits outlined in our remuneration Guide.
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COMPletING the ONGOING AdvIser
Fee AuthOrIsAtION FOrM
pLEasE kEEp this paGE for your rEfErEncE
It is important that you complete this form with your current financial adviser. If you are changing your financial adviser, please advise us of the details separately before completing and sending this form. Similarly, please advise us if, after sending us this form, you then change your financial adviser.
sEction 1 is for your name, ie the person(s)/company/trust in whose name the investment(s) is(are) held.
sEction 2 is for you to tell us the accounts/bonds to which the agreed fees relate.
sEction 3 is for you to confirm details of any advice you have received in respect of this instruction.
sEction 4 is for details of the actual fees you have agreed with your adviser.
• Initial Fee (Lump Sums) ISA/CIA/CIB – this fee will be deducted from the gross amount of your investment before the balance is invested into your choice of funds.
• global Initial Fee (lump sums and transfers) CRA – Any global Initial Fee selected will apply to all lump sums and transfer payments included in the online application specified. where you have agreed the fee as a specific amount of money, we will deduct it from the first payment submitted for your application, up to 7% of the payment value. If the initial fee has not been fully met from the first payment, we will deduct the shortfall from the subsequent payments, up to 7% from each, until the fee is met.
• Cash Transfer Fee ISA/CIA – if the fee is requested as a percentage, it will be treated as an initial fee and deducted from each cash transfer payment before the balance is invested into your choice of funds. If the fee is requested as a monetary amount, it will be deducted as an Ad hoc Fee by selling proportionally from all funds in your account once all transfer payments have been received. • Ad Hoc Fee for Re-registration ISA/CIA – by deduction of the required monetary amount as an Ad hoc Fee by selling units proportionally
from all funds in your account once we receive confirmation that all re-registrations are complete. If the fee is requested as a percentage, we will convert this to the nearest monetary equivalent, based on the total value of the re-registered units, and deduct it when the entire transfer is complete.
• Initial Fee (direct debits) – this fee will be deducted from the gross amount of each of your direct debit payments before the balance is invested into your choice of funds.
• Fund Switch Fee – this fee is the maximum payable when you or your financial adviser switch funds in your account/bond. You or your adviser will need to stipulate the actual fee payable for each switch, up to this maximum limit, at the time a switch instruction is given. we will deduct the Fund Switch Fee from the proceeds of the sold funds then invest the balance into the new choice of funds.
Note: Fund Switch Fees are not paid for: switches resulting from phased investment or automatic rebalancing; switches that have not been instructed as a result of financial advice; or switches made by the portfolio manager as part of the wealthSelect Managed Portfolio Service.
• Servicing Fee – this fee is paid regularly to your financial adviser by selling units as stated in section 6. You state how much and how often it is to be paid. (if the frequency section is left blank, we will assume ‘monthly’). where the fee is agreed as a percentage, the fee paid may go up or down depending on the value of your account/bond on the day the fee is calculated.
– when the fee is due, it will be calculated based on the annual percentage, then divided by the frequency selected and paid accordingly.
– Your financial adviser will tell you about the vAT treatment of this fee and how it might affect your payments.
sEction 5 is where you can choose to convert CRA accounts to Charge Basis 3. This will mean that new Terms & Conditions apply (available from your financial adviser or from us). Your adviser can tell you about the implications of converting to Charge Basis 3.
sEction 6 is for you to choose how you would like our Product/Service Charge and Adviser Servicing Fees to be deducted, where applicable. If you do not specify a fund choice, and in the absence of any existing instructions, we will sell units:
• ISA/CIA/CIB - from your largest fund
• CRA - proportionally from all crystallised funds; if there are insufficient crystallised funds, we will sell units proportionally from uncrystallised funds.
sEction 7 is where you sign to authorise payment of the fee(s).
sEction 8 is for your financial adviser.
www.oldmutualwealth.co.uk
Calls may be monitored and recorded for training purposes and to avoid misunderstandings.
Old Mutual wealth is the trading name of Old Mutual wealth Limited which provides an Individual Savings Account (ISA) and Collective Investment Account (CIA) and Old Mutual wealth Life & Pensions Limited which provides a Collective Retirement Account (CRA) and Collective Investment Bond (CIB).
The wealthSelect Managed Portfolio Service is provided by Old Mutual wealth Limited and Old Mutual wealth Life & Pensions Limited
Old Mutual wealth Limited and Old Mutual wealth Life & Pensions Limited are registered in England and wales under numbers 1680071 and 4163431 respectively. Registered Office at Old Mutual House, Portland Terrace, Southampton SO14 7EJ, united Kingdom. Old Mutual wealth Limited is authorised and regulated by the Financial Conduct Authority. Old Mutual wealth Life & Pensions Limited is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. Their Financial Services register numbers are 165359 and 207977 respectively. vAT number 386 1301 59.
when printed by Old Mutual this item is produced on a mixed grade material, which uses a combination of recycled wood or paper fibre from controlled sources and virgin fibre sourced from well managed, sustainable forests.
If selected as a percentage, the initial fee will apply to the balance invested into your account after any immediate tax-free cash has been deducted, not on the total lump sum/transfer payment.
