You will have received an email confirming that we will be sending your clients who hold a Wrap Offshore or Onshore bond product a Summary of Charges letter from early December 2019. This mailing is for clients with products in scope of the Insurance Distribution Directive: Costs and Charges Disclosure.
The Summary of Charges letter will include the total platform, product and investment charges and advice costs paid by the client during the period 1 October 2018, or start date of the bond if later, to 30 September 2019. Click below to view copies of the sample letters:
From April 2020 we intend to issue the Summary of Charges letter on the bond anniversary. As an interim measure, any anniversary falling between 1 October 2019 and 31 March 2020 will receive this shortly after 31 March 2020.