What It Means To be A Client

TROWLOCK WEALTH MANAGEMENT LLP 3 St. John’s Mews, Hampton Wick, Surrey KT1 4AN group@trowlockwm.co.uk | 020 8614 4450 | trowlockwealth.co.uk

WHAT IT MEANS TO BE A CLIENT

Trowlock Wealth Management LLP is an Appointed Representative of and represents only St. James’s Place Wealth Management plc (which is authorised and regulated by the Financial Conduct Authority) for the purpose of advising solely on the group’s wealth management products and services, more details of which are set out on the group’s website www.sjp.co.uk/products.

CONTENTS

WHO WE ARE

OUR APPROACH

INVESTMENT MANAGEMENT APPROACH

A COMPREHENSIVE RANGE OF SOLUTIONS

OUR TEAM

WHO WE ARE

INTRODUCING YOUR PERSONAL WEALTH MANAGEMENT SERVICE

With Head Offices in South West London and meeting facilities in Mayfair and the City, we specialise in offering face to face wealth management advice and servicing to individuals, businesses and trustees. We address immediate, medium and long term wealth management needs by taking time to understand our clients’ circumstances and objectives. Our team of experienced and qualified professionals pride themselves in taking a personal approach in the provision of high quality advice. We all share the same values of professionalism and integrity. We are proud that Trowlock has built its business through personal recommendations. We are a Chartered firm of Financial Planners. This means we have satisfied rigorous criteria relating to professional qualifications and ethical good practice. Only the UK’s premier financial planning firms qualify for Chartered status, so you can be confident that you are dealing with a leading business that is wholly committed to providing you with the best possible advice, service and support.

As a client of Trowlock Wealth Management you have access to a comprehensive range of wealth management advice and will receive an extremely high standard of personal service. The Trowlock Wealth Management Client Service Charter sets out what you can expect to receive. We are committed to building and sustaining long-term client relationships based on trust, superior service and the quality of our initial and ongoing advice. Our philosophy is simple: to ensure financial peace of mind for you and your family across the generations. We will provide a highly personalised service, with the aim of ‘earning the right’ to be considered as your trusted financial adviser for many years to come. We will help you make informed financial decisions to achieve your goals through personal, face-to-face financial advice.

STEPHEN SCUTCHER Founder & Managing Partner

OUR SERVICE CHARTER

ONGOING ADVICE FEE:

We will discuss with you the ongoing advice fees for our services. Our advice is not free. Details of the charges we make for our advice and how it is paid for are set out in the ‘Key facts about our costs and services’ document you receive. The cost for our advice is paid for and facilitated out of the overall charges levied on your investment. The advice charges will also be discussed with you and the specific amount charged will be provided on your personalised illustration. If you have questions please do not hesitate to contact us. The value of an investment with St. James’s Place will be directly linked to the performance of the funds selected and may fall as well as rise. You may get back less than the amount invested.

GUARANTEED ADVICE

To provide you with added peace of mind and reassurance, St. James’s Place guarantees the suitability of the advice given by members of the Partnership when recommending any of the wealth management products and services available from companies in the group, more details of which are set out on the group’s website www.sjp.co.uk/products

OUR APPROACH

THE ST. JAMES’S PLACE ADVICE GUARANTEE

We work with individuals, families and trustees to provide a holistic wealth management proposition. Whether it’s a stand-alone planning issue or a more complex range of needs, we tailor our services to your specific requirements.

We guarantee the suitability of the advice given by members of the St. James’s Place Partnership when recommending any of the wealth management products and services available from companies in the group, more details of which are set out on the group’s website at www.sjp.co.uk/products “ ”

OUR COMMITMENT TO YOU

We will:

• Provide personal face-to-face financial advice and servicing • Give you the opportunity to review your financial affairs regularly • Utilise sophisticated analytical techniques to create a decision-making framework

• Source best of breed solutions aligned to the attainment of your goals and objectives • Keep you informed of any regulatory or market developments that might affect your wealth management strategy • Ensure that our dealings with you are sensitive to your needs and preferences

WHAT IS YOUR INVESTMENT MANAGEMENT APPROACH?

There are some important questions we think all clients need to carefully consider when it comes to investing:

• How will you choose an investment manager? • How safe are your investments? (And how will you know?) • How will your investments be monitored, and by whom? • Which individual is managing your money?

• Who is monitoring them? • What would you do if they changed jobs and how would you know? • When is a good time to invest? • When should you say ‘No’? • Governance – who is on your Investment Committee?

The value of an investment with St. James’s Place will be directly linked to the performance of the funds selected and may fall as well as rise. You may get back less than the amount invested.

INVESTMENT MANAGEMENT APPROACH

THE ST. JAMES’S PLACE APPROACH TO INVESTMENT MANAGEMENT

INDEPENDENT GUIDANCE AND EXPERTISE

‘INDEPENDENT EXPERTISE’

John Betteridge

Davina Curling

Steven Daniels

Chris Ralph

Win Robbins

Assisted by our in-house team of analysts and a panel of independent consultancies

THE INVESTMENT COMMITTEE

John Betteridge

Davina Curling

Steven Daniels

Chris Ralph

Win Robbins

‘MANAGES THE MANAGERS’

John retired as CIO of Rowan Dartington in July 2020, having joined as a Non-executive Director and Chair of the Asset Allocation Committee. He was formerly CIO of Prudential UK’s insurance division, overseeing assets of £150 billion.

Davina has over 20 years’ experience as a fund manager. She was Managing Director at Russell Investments, responsible for $20 billion of assets. In 2011 she joined the boards of Invesco Income Growth Trust and BlackRock Greater Europe Investment Trust.

Following very senior positions with Liverpool Victoria, Steven was the CEO and CIO of Tesco UK staff pension scheme until March 2021. He has served on the board of several trusts and the Investment Committee of the Alzheimer’s Society.

Chris was CIO at St. James’s Place and then Chief Global Strategist until the end of 2020, having held senior positions in financial markets over 35 years. Chris is also an expert commentator on the markets across TV, radio and the press.

Win has over 30 years’ experience, having held senit positions in fixed interest at Credit Suisse, Citigroup and Barclays Global Investors. Win now has board positions at Polar Capital Holdings, BlackRock andHenderson Diversified Income Trust.

Decisions: Change firm? Change manager? No change?

Risk management and strategy

Sets performance objectives

Appoints the fund managers

INDEPENDENT INVESTMENT CONSULTANCIES

GLOBAL INVESTMENT MANAGEMENT EXPERTISE

Research fund Manager market

Monitor managers and Portfolios

Advise Investment Committee

Qualitative and quantitative

Focus on future outperformance

Global search

• Data analysis • Workplace analysis • Monitor activity

• Gather intelligence • Analyse • Identify talented managers

Recommend: • Potential changes • New managers

THE BENEFITS OF THE ST. JAMES’S PLACE APPROACH

• No in-house managers, so no conflict of interest • Benefit from Investment Committee experience and expertise • Global research capability • Ability to appoint the best fund managers with wholesale purchasing power • Continuous monitoring, plus quarterly reviews

• Any manager change is implemented for all clients at the same time with no charge and no tax implications • No capital-intensive products, performance guarantees, options or overly complex, fashionable or high-risk funds • A fair representation of the market across a number of product areas

The value of an investment with St. James’s Place will be directly linked to the performance of the funds selected and may fall as well as rise. You may get back less than the amount invested.

A COMPREHENSIVE RANGE OF SOLUTIONS

PERSONAL FINANCIAL PLANNING

CORPORATE FINANCIAL PLANNING

WHOLE OF MARKET APPROACH

Although our advice is restricted to the products and services available through St. James’s Place, we take responsibility for the due diligence on all the providers whose products and services we make available to our clients, some of which are shown below.

REALISING & ACCESSING WEALTH

SPECIALIST INSURANCE

PORTFOLIO MANAGEMENT

RETIREMENT PLANNING

EXIT & SUCCESSION PLANNING

EMPLOYEE SHARE OWNERSHIP

EMPLOYEE BENEFITS

INVESTMENTS

SHAREHOLDER PROTECTION

LONG-TERM CARE

PERSONAL FINANCIAL PLANNING FOR DIRECTORS

EMPLOYEE BENEFITS - Group life, critical illness or private medical

BUILDING & PRESERVING CAPITAL

FINANCIAL PROTECTION AGAINST RISK

TRUST & ESTATE PLANNING

RETIREMENT PLANNING INCLUDING SIPPs/SSASs

EMPLOYEES

HEALTH INSURANCE

PENSIONS & PENSIONS ANNUITIES

TOTAL REWARD STRATEGY

MANAGEMENT BUYOUT/ BUY IN

LIFE ASSURANCE

MANAGING CASH & BORROWINGS

CORPORATE

KEY PERSON INSURANCE

COMMERCIAL LENDING

CASH SAVINGS

BESPOKE GENERAL INSURANCE AUDIT

BUSINESS BANKING

MORTGAGES

Your home may be repossessed if you do not keep up repayments on your mortgage.

The value of an investment with St. James’s Place will be directly linked to the performance of the funds you select and the value can therefore go down as well as up. You may get back less than you invested.

Commercial Lending is not regulated by the Financial Conduct Authority.

Trusts and commercial lending are not regulated by the Financial Conduct Authority.

*Some of the above are not regulated by the Financial Conduct Authority.

ST. JAMES’S PLACE TOTAL CHARGE COMPARISONS

ONGOING TAILORED WEALTH MANAGEMENT ADVICE

How do St. James’s Place’s overall services, and the specific fund management services, compare to others?

3.5%

We offer a tailored advice service to all clients. As your individual circumstances change, we can help you with ongoing support to achieve your financial goals. The tailored service we provide to you will include: • Face-to-face review meetings at an agreed frequency to suit you • Availability to speak on the telephone between review meetings to discuss any financial matters important to you as your needs change over time • Regular financial communications tailored to you and your interests

The way we structure our charges differs from many other funds, advisers & investment managers.

2.3%

Our charges include: • Fund management • Ongoing financial advice • Client services • Portfolio construction & oversight • All aspects of administering your account

1.4%

• Correspondence and literature that is clear and easy to understand • Clarity and guidance in all aspects of your financial wellbeing

Above: How our charges compare to 19 firms in the UK marketplace. Based on an investment of £100,000 over a period of 10 years, in a typical ‘Balanced’ portfolio of funds, assuming an investment return of 5.0% a year. Source: Ernst & Young LLP, September 2020* OUR CONCLUSIONS The research concludes that St. James’s Place compares favourably with similar portfolios of funds, and our fund charges provide good overall value when the full range of services are taken into consideration. * The figures shown have been produced by Ernst & Young LLP (‘EY’), an external consultancy. They show the Reduction in Yield each year over a period of 10 years for a £100,000 investment into actively managed, unwrapped mutual funds (Unit Trust, OEIC or equivalent) with both initial and ongoing advice. Investment returns of 5% each year have been assumed. EY has collated and computed these figures as at 30 September 2020 for use by St. James’s Place and St. James’s Place Partners. The information must not be relied upon by any third party in making management or investment decisions.

We believe our approach offers value, as well as presenting a single, clear measure of the costs associated with your investment. However, it can be challenging to compare our funds with others who commonly separate charges for advice and administration. To overcome this, we commissioned an independent consultant to calculate a ‘like-for-like’ comparison. This research integrated initial and ongoing advice charges, product charges, providers’ platform fees, as well as fund charges to calculate an annualised figure for each wealth manager. The chart opposite shows how the charges from St. James’s Place compare to 19 similar firms in the UK marketplace.

OUR TEAM

PETER IOANNOU Wealth Management Adviser

DUNCAN TAYLOR Wealth Management Adviser

ANDREW HOLLYFIELD Wealth Management Adviser

RICHARD SPRAGET Head of Technical Advice & Support

MARTINA GADRINGER Partner

RICHARD HAMILTON Head of Adviser Development

STEPHEN SCUTCHER Founder & Managing Partner

KUNAL CHAUHAN Technical Administrator

TONY CAMPBELL Wealth Management Adviser

JAMES MARTIN Wealth Management Adviser

JAMIE LAVERY Private Client Adviser

EMMA WALKER Senior Technical Administrator

NICK ILLINGWORTH Wealth Management Adviser

CHRIS WALL Head of Professional Connections

OUR TEAM

NICK DIXON Technical Administrator

STEPHEN DIBLEY Office Administrator

MARKHIGGINBOTTOM Technical Administrator

JACK McCUTCHEON Technical Administrator

PIERRE HALLIEN Technical Administrator

LUCY RAINES Practice Manager

JOYCE SEDLACEK Executive Personal Assistant

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