Important information, charging structure and administration details

Important information
These terms and conditions constitute the agreement between you and us for this service (“the Agreement”). You must read and ensure that you understand the contents. In this Agreement, references to “us” and “we” refer to PK Wealth. The term “customer” and “client” and “you” and “your” refer to any person operating an account through us. Our registered office and trading address is 1 Parkshot, Richmond Surrey TW9 2RD (Companies House Registration No 8991126).

KlikInvest is a trading name of PK Wealth Limited which is authorised and regulated by the Financial Conduct Authority (“FCA”) with a firm registration number: 669243. Among other regulatory permissions, PK Wealth is permitted to advise, manage and arrange transactions on behalf of clients.

Simplified Investment Advice
This advice service does not offer a full or broad assessment of your financial situation or consider any existing investments you may have. This service provides simplified investment advice which means it is limited to the specific amount of money you are investing through this service. It is a low-cost way for you to invest your capital, or make regular savings, taking into account your investment objectives and the risk you are willing and prepared to take.

This service offers investment through a General Investment Account (GIA), Individual Savings Account (ISA) and Self-Invested Personal Pension (SIPP).

Before committing to any investment, you should be certain that your immediate needs have been provided for.

This means that you:

  1. have adequate access to emergency funds.
  2. do not have existing debts that you would be better paying off.
  3. have insurance to protect your family

Please be aware that the price and value of your investment can fall as well as rise, and past performance of any fund or investment should not be treated as a guide to future returns. We have not provided you with taxation, legal or accountancy advice and have not taken into account the taxation or legal consequences of investments for you. If you consider you will be better served with full advice that considers your entire financial circumstances, for which additional charges may apply, then please contact us as below:

1 Parkshot, Richmond Surrey TW9 2RD
Telephone: 0208 334 9953
Email: welcome@pkgroup.co.uk

Investment Management & Administration 
As part of our service to you, we have undertaken extensive due diligence and the outcome of our process is the selection of Fundment to arrange the investment management and administration that supports this service. Fundment has appointed Winterflood Business Services (“Winterflood”), a trading style of Winterflood Securities, a wholly owned subsidiary of Close Brothers Group plc, to act as the custodian of your client assets. Both Fundment and Winterflood are authorised and regulated by the Financial Conduct Authority.

Death Process
On receipt of a certified Death Certificate by Fundment, all funds will be moved to cash at the date of notification, and ongoing adviser charges stopped. Death claims for all products other than SIPPs, will only be settled after probate or Letters of Administration is/are received by Fundment, and to the payee as instructed on a claim form approved and signed by the Executors or Administrators. For SIPPs, the previously notified nomination of beneficiaries’ instruction will take precedence. Fundment will continue to invest monies until such time as a Death Certificate is received. Companies administering products owned by the deceased will be notified.

Financial Services Compensation Scheme
As regulated firms, Fundment and Winterflood participate in the UK Financial Services Compensation Scheme (“FSCS”), which was designed to protect individuals against losses resulting from the failure of a regulated firm. Your assets and money are held by Winterflood in accordance with FCA rules on client assets. As your assets are segregated away from monies belonging to Winterflood, it is extremely unlikely you would require further protection.

However, you are protected by the Financial Services Compensation Scheme (up to £85,000 per customer) against losses resulting from fraud or mismanagement. The FSCS does not protect against losses due to normal swings in the market. More information about the FSCS can be found on their website (www.fscs.org.uk)

Client classification
These services provided under this Agreement are on the basis that you are a Retail Client as defined in the FCA Handbook. Being a retail client means that you benefit from the highest level of regulatory protection.

Cancellation Rights
You have up to 14 days (30 days if you are opening a SIPP account) beginning from the date your Account is opened to cancel your Account. We will sell any investments on your behalf but will not be responsible for any market loss that you may incur as a result.

You or us may terminate this Agreement at any time, giving 30 days’ notice, without prejudice to the settlement of all outstanding transactions. We may pass on to you charges levied by third parties as a result of the termination of this Agreement.

Data Protection
By using this service, you consent to us manually and electronically processing your personal data for the purposes of providing investment advice, account administration and management.

You agree to us, or any affiliated company, processing both electronically and manually, your personal data (as defined in data protection legislation) given by you under this Agreement. You agree that such data may also be used by us and associated companies to update client records, to advise you of other products and services unless you have indicated otherwise and for such other purposes that we may notify you from time to time.

We undertake that we and any company associated with us will treat all personal data and sensitive personal data as confidential and will not process it other than for a legitimate purpose. We will implement procedures to ensure that the information is accurate, and not kept for longer than is necessary. We will also implement steps to guard against unauthorised or unlawful processing and accidental loss or destruction.

Please see our Privacy Statement for more details.

We work hard to ensure you are happy with our service. However, if you wish to register a complaint with us, please write to the address below:

PK Wealth, 1 Parkshot, Richmond Surrey TW9 2RD
Telephone: 0208 334 9953
Email: welcome@pkgroup.co.uk

Your complaint will be acknowledged, properly investigated and we will communicate the results to you. If your complaint is unresolved after eight weeks or you disagree with our response, you may refer it directly to the Financial Ombudsman Service, whose address is below:

Financial Ombudsman Service
Exchange Tower
E14 9SR

More details on the Financial Ombudsman Service can be found on their website.

Anti-Money Laundering
We are required by anti-money laundering regulations to assess and verify the identity of all our clients. For this purpose, we may deploy electronic verification software to carry out identity checks on a regular basis. This includes checks at the beginning of our relationship and on an ongoing basis.

Governing Law
The provisions of this Agreement shall be governed by English Law and subject to the exclusive jurisdiction of the English courts.

Annexe 1 – Annual Fee Examples
The provisions of this Agreement shall be governed by English Law and subject to the exclusive jurisdiction of the English courts.

Example Charges – £0 – £50,000
Simplified Advice – 0.54% including VAT
Investment Management – 0.38% including VAT
Underlying Funds (Maximum) – 0.22%
Total Annual Fee (All In) – 1.14% including VAT

Example Charges – £50,001 -£150,000
Simplified Advice – 0.48% including VAT
Investment Management – 0.30% including VAT
Underlying Funds (Maximum) – 0.22%
Total Annual Fee (All In) – 1.00% including VAT

Example Charges – Over £150,000
Simplified Advice – 0.42% including VAT
Investment Management – 0.24% including VAT
Underlying Funds (Maximum) – 0.22%
Total Annual Fee (All In) – 0.88% including VAT

The charge for this service is made up of investment advice & investment management fees. Underlying fund fees are estimated to be approximately between 0.15% and 0.22% per annum. Fees are collected monthly in arrears based on the value of the account on the last business day of each month, pro rata for any part of the month the account was opened.

Example – if you invest £20,000, our total fee will be 1.14% of this investment. Therefore, the annual charge to you will be £228 annually or £19.00 monthly. Please note that ongoing fees will fluctuate as the value of your investment changes.

Example Investment – £20,000
Simplified Advice – £108
Investment Management – £76
Underlying Funds – £44
Total Annual Fee (All In) – £228

Example Investment – £75,000
Simplified Advice – £360
Investment Management – £225
Underlying Funds – £165
Total Annual Fee (All In) – £750

Example Investment – £160,000
Simplified Advice – £672
Investment Management – £384
Underlying Funds – £352
Total Annual Fee (All In) – £1,408

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