Dear Client
Further to our recent communication in relation to our revised Terms and Conditions, please accept this as notice that they will now come into effect from 01 January 2021.
Why have made this decision?
We have made some minor wording amendments to our buying power section. The change is as follows:
Buying Power: to enable the maintenance of model portfolios without any fixed percentage allocation to cash and to ensure that your assets are not needlessly divested to generate sufficient cash to cover future obligations (such as fees or regular withdrawals), the Platform will automatically estimate and 'ring-fence' sufficient cash to cover future Platform, Adviser, and where necessary DFM, fees. This is calculated to be sufficient for between a three (3) and twelve (12) month fee period and, where requested, to cover between one (1) and six (6) months’ withdrawals, in line with the Platform Solution offering. This 'ring-fenced' or uninvested cash will automatically be re-calculated each time a cashflow event occurs namely a transaction, contribution or withdrawal.
We will share your branded version of the entire document again with you later this week.
Furthermore we understand that given the unusual circumstances that we are all working in, that some additional time may be required in order to review and communicate these changes to your clients and advisors.
What does this mean for you?
Any process or charging changes outlined in the revised Terms and Conditions will come into effect from 01 January 2021.
Should you have any questions please feel free to contact our Customer Services Team via your Freshdesk Account or email us at customer.services@hubwise.co.uk
Kind Regards
Douglas Boyce
Managing Director
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