CIP Terms of Business

Castlefield Investment Partners LLP Terms of Business

These Terms of Business have been written in accordance with the rules of the Financial Conduct Authority (FCA) and are legally binding on any investment business we do for you. Before agreeing to them it is important that you take as much time as you need to read them, think about their implications and ask us about anything you feel is unclear.

 

Changes to our Terms of Business

Terms of Business (27th January 2023)

We’ve made the following changes to our Terms of Business:

  1. We have updated the ‘Payment for our services and those of PSL’ section on the ‘Pershing Interest Rate’ (PIR) rate which applies to any uninvested cash you hold in a PSL account. This will be calculated with reference to but typically set at a level below the official Bank of England Base Rate and therefore will vary over time. PSL deduct a money management fee from the PIR and the net rate will be credited to your account with them. PSL’s money management fee will be set to 0.15% pa from 1 February 2023. This change will effect existing clients who utilise the service but does not affect the ongoing provision of service to our clients.
  2. We have updated the ‘Capital Gains Tax’ section to further explain the importance of providing us with the full cost history of any holdings you transfer into an account which you then ask us to manage.
  3. We have updated ‘The services we will provide’ section to clarify who is responsible for what, when a separate adviser is involved with our client.

 

Terms of Business (2nd July 2021)

We’ve made the following change to our Terms of Business:

  1. We’ve updated the text in the Portfolio Service section to clarify that this service is no longer available to new clients, or to existing clients wishing to switch to the service. This change does not affect existing clients who utilise the service.

 

Terms of Business (5th February 2021)

We’ve made the following changes to our Terms of Business:

  1. We’re updating our variation clause, which will allow us to update these terms immediately in future via publication on our website. We’ll still give you 30 days’ notice before the amendment(s) come into effect. Where we think that the proposed change is material to the provision of our services to you, we’ll notify you directly as well.
  2. On 31st December 2020, we ceased our membership of the London Stock Exchange (LSE), which means that we no longer have the option to execute orders directly on the exchange. Instead we’ll continue to place orders via a number of third parties with whom we have agreements, who’ll then execute on our behalf. This is broadly how we’ve operated since 03/01/2018 and we’re happy that it now proves LSE membership to be unnecessary. This does not affect the ongoing provision of service to our clients. Further details can be found in the section ‘Carrying out your investment transactions’.
  3. We’ve updated our disclosure documents. New clients will now receive an individually prepared document known as the ‘Schedule of Charges’, with the aim of providing a clear and transparent disclosure of costs and charges associated with the relevant service. Previously, this information was incorporated within the Client Information Form, which is completed by all new clients.
  4. We’ve updated the ‘Stewardship and Engagement’ section to explain further our specialism in this area and how this relates to our participation in the UK Stewardship Code and your voting rights as a shareholder.
  5. We’ve updated the contact details for the Financial Ombudsman Service (FOS). It requests that enquiries are made via electronic means where possible.
  6. We’ve updated the relevant sections where there’s been an amendment as a result of the UK leaving the EU.
  7. Finally, as a result of recent changes to regulation, you now have the option of electing for an individual segregated account in relation to the custody of your assets. You’ll find further details  in the section ‘Custody and related administration of your investments’.

 

Terms of Business (11th July 2019)

 

Need more help?

Please contact us on 0161 233 4890 and we’ll be pleased to