Service Proposition

We are a service-orientated financial services company providing a holistic advisory service dedicated to guiding its clients to financial independence.

At Harpur Wealth, we understand that individual client circumstances are different and that your financial needs and priorities change over time. Our centralised investment proposition has been designed to fit with our client’s priorities, without the ongoing need to constantly review the whole of market. We are regulated by the Financial Conduct Authority (FCA), which is an independent watchdog that regulates Financial Services in the UK.

A sound basic principle of investing is that your money should be between several different asset classes, typically equities, property, fixed interest and cash. Diversifying your portfolio can help to manage risk and increase your potential returns. This is because different types of assets often behave differently under the same economic conditions. If you therefore invest in several types of assets, it’s likely some will perform well even if others are declining in value.

 

It is therefore important to have exposure to a blend of different assets to help drive long-term performance and reduce the risk of being overly exposed to any single asset class.

We engage our clients with experts. Their aim is to simplify this complex investment universe and provide you with professional, unbiased investment advice. At Harpur Wealth, we provide the link between the investment solution and your personal goals and objectives. This ensures you maximise your investment returns whilst helping to reduce your risk and achieving your financial plan.

Our advisers are highly skilled, qualified and up to date with investment, taxation and pension developments. Suitable financial planning advice is at the core of our service to our clients. To help us deliver this, we have developed a robust process that we explain below.

 

The Harpur Wealth Management Limited financial planning process

 

  • Understanding your life and financial objectives
  • Analysis of your current assets
  • Assessing you risk profile
  • Making our recommendation
  • Implementation
  • Ongoing review

 

Step 1 – Understanding your current circumstances and financial objectives

 

These are not always clear to everyone, so we have an initial conversation which often leads to several paths of opportunity. This is often a discussion you will never have with anyone else other than a financial adviser. Following this we will have the basis for a plan.

 

Step 2 – Review your existing investments

 

We gather detailed information on all the investments that you currently own.

 

Step 3 – Assessing your risk profile

 

We ask you a set of questions designed to determine your attitude to risk when investing, your time horizon, future cash needs and your objectives. Aided by an independent risk profiling tool we will determine your risk score. We will also discuss with you your own thoughts on investment risk based on your own experiences, and how risk can influence your financial objectives, in particular taking into account your capacity for dealing with fluctuating values and potential losses.

 

Step 4 – Making our recommendation

 

Once we have established your objectives and level of risk you are prepared to accept, we prepare a recommendation on an appropriate solution, available within our centralised investment proposition. We consider the income tax, capital gains tax and inheritance tax implications of your current portfolio and any new investments to be made. We also weigh up the tax benefits of tax wrappers such as investment bonds, ISAs, unit trusts and pensions to ensure you maximise the tax shelters available.

 

Step 5 – Implementation

 

Once you are happy to proceed we will then arrange for the implementation of the solution, including new accounts, transfers or management of existing plans. We then co-ordinate the necessary transactions to ensure the recommendation is implemented as expected, in as an efficient manner as possible.

 

Step 6 – Ongoing review

 

We conduct these reviews at least annually to ensure the implemented solution is still suitable for fulfilling your financial objectives. In the mean time you are assured that the investment solution is continuing to deliver on your expectation.

We may recommend engaging with an investment manager so you benefit from specialist investment expertise. Typically, their services are provided through the following methods:

 

Managed model portfolio service

 

These are portfolios provided through the investment manager we engage on your behalf. The investment manager selects funds to fit within a strategic asset allocation (a mix of different investment types and assets) which is consistent with your attitude to investment risk. The strategic asset allocation is designed to be aligned to your chosen risk category, which has been determined through the risk analysis process. Your portfolio will be regularly reviewed and rebalanced to ensure that your portfolio always has the best perceived blend of funds to meet its stated investment objective and continues to keep in line with your agreed tolerance to investment risk.

 

Discretionary fund management

 

For larger portfolios, usually in excess of £150,000, we maintain relationships with two specialist discretionary portfolio management companies. If we recommend this service to you, we will discuss your requirements and facilitate an introduction to a private investment manager who will be appointed to manage a bespoke portfolio in accordance with your needs. We will explain your investment objectives with your portfolio manager and the costs of this service.

The risk rated model portfolios are typically administered using a ‘Platform’. These facilitate the arranging and reporting of fund and portfolio investments across a range of investment types and tax wrappers.

As part of our discussion around your investments we will assess whether a platform is suited to your requirements. If this is the case then we will recommend a provider and explain full details of their service and charges as part of our recommendation.

 

Investment wrappers available

 

Our Investment Proposition can be used with the following range of investment wrappers:

 

  • General investment accounts
  • Individual Savings Accounts (ISAs)
  • Self-Invested Personal Pensions (SIPPs)
  • Personal pension accounts
  • Onshore investment Bonds
  • Offshore investment Bonds

Portfolios held within ISAs and pensions are considered tax efficient and, subject to keeping within the investment limits and rules for these wrappers, there will not usually be any tax liability arising on investment gains on the portfolio.

 

Investment gains made on general investment accounts could be subject to Capital Gains Tax (CGT) but only if they exceeded the annual CGT exempt allowance. Many people do not make regular use of their annual tax-free CGT allowance, meaning that a tax saving opportunity is wasted.

 

We will explain to you the taxation position of your portfolio as part of our recommendation. Hence it is important that we are kept informed with regard to our client’s financial circumstances in case this influences the tax wrapper.

Harpur Wealth Management an Advisory Planning Service allowing us to meet at regular intervals to discuss your overall investment objectives.

 

For clients with an investment portfolio of less than £120,000 we would recommend that reviews take place on an ad hoc basis. We will charge £600.00 (VAT exempt) for these review meetings. This is a Transactional Service.

We truly believe that regular reviews are essential to ensure your financial plans remain on course to achieve your goals, aspirations and financial objectives. Listed below are the main topics we will discuss with you during your face to face meeting: Client review agenda
  • Changes to your circumstances
  • Review of current and future financial objectives
  • Summary of investment performance since last review
  • Key drivers to performance
  • Summary of economic outlook
  • Review of your attitude and tolerance to risk
  • Discussion of suggested changes to investment strategy
  • Review of protection needs
  • Review of Inheritance Tax position and estate overview
  • Action plan-introduction to professional advisers such as accountants and solicitors if required
Clients will receive the following level of service:
  • Portfolio reviews at least annually.
  • Full financial planning advisory service.
  • A highly trained Client Service Executive (CSE), who is there specifically to answer and resolve any queries you may have regarding your accounts.
  • Best execution on your investments.
  • Online access to your accounts, including electronic contract notes and statements.
  • Update on relevant market development.
  • Provision of updates on changes to tax legislation.
  • Continued liaison with product providers.
  • Collection of dividends and tax credits.
  • Arranging payment of your income via BACS directly to your account on a daily, monthly, quarterly, six monthly or annual basis as requested.

This is a ‘one off’ initial advice service for client’s where an on-going service is either not required or after discussion we agree is not appropriate to your circumstances. We will still assess your financial requirements and, after research, will make a recommendation that is both suitable and clearly explained.

 

This service is more likely to be suitable for clients who are seeking a recommendation to address a specific objective, which could include:

  • Pension planning
  • Regular savings and investments
  • ISAs
  • Life, critical illness, income protection insurance
  • Annuities

Clients will still receive the following even though there is no on-going charge:

  • Telephone service as and when appropriate.
  • Best execution on your investments.
  • Online access to your accounts, including electronic contract notes & statements.
  • Continued liaison with product providers.

Our advice costs are detailed in our Client Agreement, which should be read in conjunction with the recommendation.

 


Depending on the investment solution, there will be annual charges from third parties as well as the fee agreed with ourselves. In addition, the underlying funds within your portfolio have charges, which affect your investment valuations.

 


You will be provided with a personalised illustration which will detail all of the applicable charges including our advice charge, the fund charges and any applicable service provider charges. The selection of provider is kept under review to ensure that their service remains competitive at a standard we expect.

Before you incur any charges, we will always agree with you the service you require and our specific fee for your confirmed service.

You have the option to pay our fees directly to us or alternatively where possible it may be able to be facilitated through a deduction from your investment. We will discuss your preferred method of payment with you.

 

Where our fee cannot be facilitated from the initial investment amount you will be required to make the payment separately.

 

If you pay for an on-going service that is facilitated via your investment the actual costs of your on-going fee may increase as the fund grows.

 

If you should choose to bring the Client Service Agreement to an end, this can occur at any time without penalty.

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