The charges for setting up and maintaining your Collective Investment Bond will depend on the kind of funds you choose, your agreement with your financial adviser, and other variables.
Your financial adviser should provide details and explanations, and the charges should also be listed for you in a charges schedule.
Charges cover:
The costs Quilter International incurs in setting up and managing your bond
The administrative costs of the fund managers.
Fees charged by your financial adviser.
You may need to pay an early withdrawal charge if you cash in your bond fully.
The amount of this charge reflects the cost to Quilter International of setting up the bond, including any payments (such as commission) made by Quilter International
to your financial adviser.
This charge may also apply if you cash in part of your bond and the amount remaining is less than either 25% of your total investment, or £10,000/US$15,000/€15,000 (or another currency equivalent).
If you decide to move any of the investments into a different fund or asset, you will usually have to pay a dealing charge. this is currently £15 for each transaction.
Most switches involve two transactions: out of the current fund and into the new one – so the charge would be £30.
You may also need to pay other third-party charges such as bank charges, which will be included in the net amount being switched.
There may also be other charges to pay, such as telegraphic transfer charges.
The Collective Investment Bond and some of the investments which may be held within it have fees which exist partly to meet the advice, promotion and distribution expenses.
These may include initial and on-going payments (such as commission) made by Quilter International to your financial adviser.
These payments could be in addition to any commission payable by the investment provider to your financial adviser in respect of the investment held.
If you want to know how much you're paying, have paid and how much your financial adviser received and continues to receive - just ask for an X-Ray Review™.