Our Services

The management of investments is very personal and depends on the client and their circumstances. In order to meet all requirements our portfolios can be managed in a variety of ways.

  • Discretionary
  • Managed Advisory
  • Non Managed Advisory
  • Execution Only Dealing

Discretionary Investment Management for UK Residents

This service is aimed at clients who do not have the time, expertise or interest in managing their investments on a day-to-day basis. We therefore handle this and will buy and sell investments on clients’ behalf but always adhering to their investment requirements and attitude to risk, which will be clearly stated in our client questionnaire at the start of our relationship. Any income generated on investments can either be retained for reinvestment or paid out as required. We will report performance during periodic meetings at which we will assess the ongoing expectations and needs so that the portfolio adapts and changes with the client’s lifestyle over time.

Discretionary Management for Non UK Residents

We have significant expertise and experience gained over many years managing or advising on portfolios for international clients, offshore investment holding companies and trusts. We are well versed with such structures and arrangements and can work closely with advisers and trust companies in any jurisdiction. We can also arrange for clients to maintain multi currency accounts and dividends can be collected and disbursed in most major currencies.

Premium Discretionary Management

For clients who wish to have more assistance with their overall financial position we can make introductions to specialists such as pension advisers, accountants and solicitors, and help with the development and management of these relationships on an ongoing basis. Whilst each professional will make a charge for their service we are happy to attend meetings and support where possible in this regard. For this service we therefore levy a slightly higher management fee to reflect the additional time involved.

Managed Advisory Service

The Managed Advisory service is not greatly different from our Discretionary service in that investments are still carefully selected to meet the client’s personal circumstances. The key difference is that once a particular investment idea has been identified it would be referred for authorisation. Assuming they are happy with our recommendation we would then carry out the transaction on the client’s behalf. If they do not wish to proceed then we would be happy to suggest an alternative recommendation if required.

Non-Managed Advisory Service

With our Non-Managed Advisory service the responsibility to seek advice lies with the client rather than ourselves. We will be pleased to discuss the merits of particular investments, but only when asked to do so by the client. This service is perhaps suited to more experienced investors who only require the occasional input of an investment manager, or those who prefer to adopt a less active management style to their portfolio.

For clients who want a more traditional stockbroking service we would be happy to provide trading ideas if and when required.

Execution Only Dealing Service

No advice is provided for Execution Only clients and we simply buy or sell investments on their behalf when instructed to do so. We will ensure that clients receive the best price available and can often trade whilst they are on the telephone ensuring the execution report is given immediately.

Our dealers have a wealth of City contacts to assist in the execution of all transactions.

Nominee and Safe Custody

With stock exchange transactions now settling in two working days, it is almost impossible for clients to return the paperwork in time for settlement unless special arrangements are made in advance. This is further complicated where clients have overseas holdings where settlement is often more difficult.

We offer a full Nominee Service through our external clearing agents, Pershing Securities, whereby all holdings will be electronically held facilitating fast and efficient delivery, even when a client is on holiday. All dividends will be credited to the client’s account with us which can then be paid away to their bank account periodically or alternatively retained on account pending reinvestment.

Following the tax year end, all nominee clients will receive a Consolidated Tax Voucher (CTV) detailing all income received from dividends and interest in the year which can then be simply entered on their tax return.

Client Reporting

For each service clients will receive a contract note for each investment we make on their behalf giving all the details. In addition to the cash statements, we will provide periodic portfolio valuations which allows clients to see how their portfolio is performing and keep track of its overall value.

For clients who wish to reduce paperwork we can, upon written instruction, refrain from sending contract notes for each transaction, as well as quarterly statements. This information will then be reflected in the half yearly report.

For all clients who elect to use our nominee service a consolidated tax voucher (CTV) will be issued annually detailing all income received in the period.

Capital Gains Tax

We appreciate that many clients use the services of accountants, but have historically found there is a requirement for investment managers to calculate a year end capital gains position on investments which we manage. Provided we are supplied with all the acquisition history, we can calculate all capital gains and losses within one report shortly after the tax year end to help investors complete their returns. For clients with more complex tax affairs we will be happy to supply a copy of this to their accountant if so required. This service forms part of the reporting package for all Discretionary and Advisory Managed clients.

Tax Efficient Investments

There have been a number of major changes in personal taxation over the last decade. With the continuing rise in the rate of personal taxation it is important for clients to maximise use of tax efficient solutions which are available under present tax legislation.

We have considerable experience in the management of ISA, SIPP and SSAS portfolios.

ISAs

An Individual Savings Account “ISA” is a UK savings account on which the return is tax-free, and which need not be declared in the investor’s tax return. There are two components: cash, and stocks and shares.

At S&T we believe that it is our responsibility to maximise returns on our clients’ investments, and therefore regard the ISA accounts which we operate as part of a client’s overall portfolio. Many people view an ISA as a standalone product but, with careful management and consideration, the tax advantages can be incorporated within an overall portfolio strategy.

By utilising the allowance each year investors are able to shelter a sizeable amount from taxation which often comes in extremely useful upon retirement, when the investment requirement might change from being one of capital growth to that of income.

With effect from 5th August 2013, shares quoted on the Alternative Investment Market “AIM” became eligible to be held within ISAs. Certain shares quoted on AIM can be exempt from Inheritance Tax upon death if held for a period of more than two years.

SIPPs and SSAs

Self Invested Personal Pensions (SIPPs), provide a tax free way of making provision for retirement. The client is free to make their own investment decisions, within the range of investments allowed by the SIPP administrator.

The fund is tax free and, subject to certain limits, can be used to build up a useful tax free income on retirement with the option also to take out, subject to present legislation, part of the fund as a tax free capital sum on retirement.

Small Self Administered Schemes (SSAS) are occupational pension schemes sponsored by an employer. They are established under trust for at least one employee. These structures are very complex and membership is restricted to company directors and members of their families. Normally such schemes have fewer than 12 members, all of whom are normally appointed as trustees. They can invest in a much wider range of assets than SIPPs, including unquoted investments, authorised loans to the employer and the purchase of commercial property, which can then be leased back to the employer.

Note:
S & T Asset Management is not regulated to give pension planning advice, but can put you in touch with one of a number of independent financial advisers with whom we work who can give appropriate advice.

This section should be read in the context of this statement and is not intended to give advice to open either a SIPP or SSAS.