Q. Who are Charles Wade Finance?
A. Charles Wade Finance provides a fully independent advisory and financial planning service covering mortgages, financial and estate planning, family trust work, pensions, investments, and insurance. Charles Wade Finance is an appointed representative of The On-Line Partnership Limited, which is authorised and regulated by the Financial Conduct Authority.
Q. Who are In Partnership?
A. In Partnership is the trading name of The On-Line Partnership Limited. It is a fast-growing network of over 500 investment, mortgage and protection advisers. In Partnership provide ancillary compliance and technological support, and their investment committee act as a second layer of due diligence on any investment recommendations we make. In Partnership is owned by Russell Investments Systems Limited, one of the world’s leading investment companies. Russell Investments Systems Limited has almost £1.5 trillion in assets under advice.
Q. How often do you review my situation?
A. We will meet up at least once every year to review your situation. At this meeting, you will be able to update your adviser on any changes in your circumstances, and the adviser will update you on the progress of your assets held with us.
Q. Does Charles Wade Finance handle your money?
A. No. We never hold your money personally. This will always be held by an authorised investment company or an authorised insurance company. All investment products and providers we use are regulated by the Financial Conduct Authority.
Q. Where are our fees taken from?
A. All fees for our service will be discussed in detail with you and put in writing. Fees can include an initial charge for any investments or transfers, as well as an ongoing fee to review and service your policies. Initial fees can either be paid to us directly or out of any investment or pension transfer. You will always have a small percentage of liquidity (cash) within your portfolio, from which we will take the ongoing fees.
Q. What happens if a pension provider goes bust?
A. In the unlikely event of your provider entering into administration, retail clients will have their funds and the market value of assets returned to them from the client money bank account/custodian account. As these bank accounts are held by your provider in trust for underlying clients, no other general creditor can access or make claim to the funds contained therein. Furthermore, your money and investments are eligible for compensation under the Financial Services Compensation Scheme (FSCS) for up to £50,000 if the company is unable to repay investments or money. Compensation under the FSCS is also triggered in the event of losses arising from bad investment advice, poor investment management or misrepresentation.
Q. What happens if Charles Wade Finance closes?
A. As all your investments are held with the custodians, they will not be affected in any way if Charles Wade Finance were to close. Due to our regular ongoing reviews, you will always have an up-to-date investment plan which you can choose to continue to follow yourself, or you can seek advice elsewhere to ensure you continue to maintain your outlined path.