Professional Adviser Award 2008

 


 

 

 

  

Execution Only - updated: March 15, 2008

 

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We appreciate that some people know exactly what they want and do not require any advice from us.

In such cases we are usually happy to transact the business on an 'Execution only' basis.

What is Execution Only?

This is where a transaction is executed by us upon your specific instructions, and where we do not give advice on investments relating to the merits of the transaction.

An 'execution only' transaction is viewed by the Financial Services Authority as a case where you have:

  •  Identified the product you require
  •  Stated the premium you are willing to pay or the amount you are willing to invest
  •  Selected the product provider you wish to do the business with
  •  Selected, if appropriate, the fund
  •  Selected, if appropriate, the term of the contract

so that we have not given or offered to you any advice.

In summary we will not be expected to discuss the suitability of the product with you, that is:

NO ADVICE has been SOUGHT by you (the client) or GIVEN by us (the adviser), nor is any advice EXPECTED by you (the client).

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The Advantages of Execution Only

It may be easier for you to transact 'execution only' business with us because we will not require you to complete a detailed Fact Find. If you are an exixisting client, however, this may not be an advantage because you may have already completed a Fact Find within the last two years which is still acceptable to us.

As there is no requirement to provide advice to you we will normally reduce our initial commission entitlement. This will normally either reduce the standard charges on your investment, or increase the amount actually invested. If your preferred payment method is by fee, then that will normally be reduced.

As a general rule we will reduce our standard initial commission entitlement by a third to your benefit in such cases where the investment is less than £20,000, and we will reduce our standard initial commission entitlement by half to your benefit in such cases where the investment is £20,000 or greater. Where it is not possible to arrange this with the product provider we will forward a cheque to you in due course for the amount of commission that we would have sacrificed, once we have received it.

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The Disadvantages of Execution Only

As you would not be receiving advice from us you may find that there is an important issue concerning the investment or the product provider that you have overlooked.

You would receive less protection in the event of a failure of your investment. For example, you would be unlikely to be successful in a complaint against us for 'mis-selling'.

If you would like to discuss these issues further please email us on direct@arch-fp.co.uk or telephone 0845 3700 661.

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Administration of Execution Only

In order to enter into an execution only transaction we will require a written instruction and declaration to this effect from you, preferably in your own hand.

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Further Information

If you would like to invest in a financial product on an execution only basis, please contact your Arch adviser, or email direct@arch-fp.co.uk, or telephone 0845 3700 661 .

 

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