Arranging Custody

Ensuring the safe keeping of client’s assets is a key element of our proposed business activities. Depending on the client’s requirements and their preference to various booking centres, the firm will make arrangements with reputable custodians to hold their assets.

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Under this permission, the firm will do the following:

• Introduce another person to a custodian who is an Authorised Firm, or a Regulated Financial Institution.
• Facilitate account opening with these institutions depending on the client’s requirements.
• Negotiate and settling terms of the contract between the custody provider and the firm’s clients.
• Assist the client to complete application forms and other processes.
• Collect and process client payments.
• Transmit information (including instructions from the client and confirmations by the custody provider) between the customer and the custody provider.
• Request custodian banks to provide online portal access, where we are permitted to view client portfolio details and investment transactions. This will be on a read-only basis, we can view the client portfolio accounts via email, for the purpose of financial advisory only.

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The firm will seek a Limited Power of Attorney to enable it to request information related to the account and will act as an intermediary between the custodian and the client. The fee structure for this service will differ according to the client’s asset size and type. The firm will not charge the client for providing this service; however, the client will be charged by the custodian separately.

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When selecting custodians, amongst other things, we will consider:

• The insolvency regime of the jurisdiction in which it is located.
• Its credit rating.
• Its capital and financial resources in relation to the amount of safe custody investments held.
• Its arrangements for holding the investments.
• Its regulatory status, expertise, reputation, and history.
• Its Group structure.
• Its use of agents and service providers.
• Its AML and Corporate Governance framework.