Experience Makes the Difference
Experience Makes the Difference
Investment Trusts and Closed-end Companies:
At Pigotts I offer a choice of three investment accounts, please click on the tabs for following information about these accounts:
This account is for those requiring capital growth and who accept an increased exposure to risk. Some dividends will be received mainly to satisfy management charges and any excess will be reinvested for growth.
This account is also run on a bespoke basis and funds are chosen from my Approved List, there is an ISA facility and I will use any ISA allowance you have each year to transfer stock and / or cash to it from your General Investment Account (GIA) so as to reduce or avoid your paying CGT as far as possible. If you wish to find out more please contact us.
Initial consultation is free with no obligation to proceed. As soon as it is known what is involved then the initial set-up fee (no VAT) can be worked out with any rebate that might apply later. Pigotts charge for purchases (not sales) and for managing your account – with a potential for discounts. For details of both Pigotts’ and Transact’s charges and discounts please click here.
Although Pigotts is purely fee-based Transact take the charges as commission automatically from your account and if there is an initial charge the client pays us direct, exempt of VAT. For details of both Pigotts’ and Transact’s charges and discounts please click here.
The legal ownership of your account belongs to Transact but the beneficial ownership belongs to you. This has been the “smart” way to run clients’ investments for some years. Share Certificates, Dividend cheques and Transfers are obsolete. All your holdings will be registered on CREST through Transact who deal with the day-to-day administration of market trading, the allocation of dividends and processing any corporate actions. This enables, for example, sale proceeds to be credited to your account the next working day after the sale (T+1) and the cash earns interest immediately.
can include the following:
This hassle-free administration means that there is no need to file mounds of paperwork from various providers or managers.
The Pooled Deposit Facility holds reserve cash, ring-fenced against investment and earns a competitive rate of interest. Cash is spread across four banks to make sure each Client is protected up to £300,000, subject to amounts of cash that may be held outside Transact in any one of the four banks used.
All cash, wherever it is in your account, receives a competitive rate of interest paid monthly, with basic rate of tax deducted by Transact.
Transact send you two six-monthly valuations, one as at 6th October and one as at 6th April. The latter is usually sent in May with a 12 month Statement and Consolidated Tax Certificate that can be sent to HMRC with your Tax Return. This makes filing your income tax return much simpler.
Pigotts also send you a Summer Investment Update together with Performance information. Quarterly Market Updates are also sent to you outlining current strategies given market climate. Current valuations and statements, for any period, are available whenever requested. Before a Purchase or Sale you are sent, via your preferred correspondence route, an Investment Advice Note (IAN) setting out the advice and reasons for action. IAN conditions are set out in the Letter of Engagement.
From time to time you will also be sent reports and news items on relevant topics.
In addition to the above reports you can access your account at any time with your secure PIN. You can view the current valuation that uses closing prices from the previous trading day and the Transaction Listing for any period. You can also deposit and withdraw cash direct from your Pooled Deposit Facility, if you have one.
All investments involve a degree of risk to your capital and you are accepting this by deciding to invest, indeed, you should contemplate carefully the appropriate level of risk you are prepared to take. We can help with this at our initial meeting or discussion. The nature of risk can vary and our Understanding Risk document and Questionnaire helps you gain a good insight into this often-misunderstood subject. When choosing your Personal Risk Profile you should assess your personal financial needs and aims.