OUR SERVICES. private clients. CityAsset MANAGEMENT PLC

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1 CityAsset MANAGEMENT PLC OUR SERVICES private clients

2 The value of investments and the income arising from them, can go down as well as up, and is not guaranteed, which means that you may not get back what you invested. Past performance is not necessarily a guide to the future. The Financial Conduct Authority does not regulate tax advice, trusts or offshore investments. wealth&money managementawards twothousand&fourteen winner

3 Owner managed Investment Management Financial Planning Dedicated to the maintenance and preservation of the asset base and wealth of its clients about us City Asset Management is an investment management company with a financial planning arm that is dedicated to the maintenance and preservation of the asset base and wealth of its clients. We aim to offer a more personalised and flexible service-led approach than that which is typically offered by many larger wealth managers and private banks. The company, founded in 1988, is mainly owned by the working directors and, as a result, is free from any bias or conflict of interest which might arise from ownership by an institutional parent. The company is authorised and regulated by the Financial Conduct Authority (FCA) ensuring that its conduct and practices are governed appropriately. Our strength is our history and our people. The continuity of staff, together with our openness and effective communication, are the key drivers to the successful relationships we build with our clients NICK COGHILL, CHIEF EXECUTIVE 1

4 Individuals Families Charities Trusts Corporate Bodies Pension Funds our clients Our aim is to form a long lasting relationship with our clients that spans generations. This enables us to develop a holistic approach to wealth management that is tailored to every client s individual requirements. Our clients vary from private individuals to charities and corporate bodies, and we work together with their professional advisors where applicable. We adopt a flexible approach to ensure that clients receive the most appropriate solution to their financial requirements and goals. This can be in the form of standalone financial planning or investment management; or a combination of the two. 2

5 our services Our service offering can be split into two main areas: FINANCIAL PLANNING We develop a clear understanding of the client s personal and financial circumstances together with their attitude to risk. This enables us to formulate a strategy that fits in with the lifestyle and personal goals of the client and utilises financial planning tools and appropriate investment vehicles. INVESTMENT MANAGEMENT We implement an investment strategy that is tailored to the client s attitude to risk, investment goals, tax position, income objectives and wider circumstances. 3

6 financial planning City Asset Management s financial planning arm works with both internal and external clients together with professional intermediaries. Financial Planning is the cornerstone of wealth management and our qualified and experienced team will assist our clients by providing objective advice to help them achieve their long term financial goals. FINANCIAL PLANNING PROCESS Our process is designed to include the high level of detail a client would expect. We have designed our process for clients who value an ongoing relationship with a trusted adviser who can provide holistic financial planning. What we mean by holistic is that we take a comprehensive, highly detailed approach to a client s needs, aspirations and goals. We focus on the client and what they want to do with their life, and blend this with financial planning in a combined strategy that brings it all together into a financial plan. Financial planning is a dynamic process. A client s financial goals may change over the years due to changes in their lifestyle or circumstances, such as an inheritance, marriage, birth, house purchase or change of job status. We work with our clients to revisit and revise their financial plans to reflect these lifestyle changes so that they can stay on track with their short and long-term financial goals. FINANCIAL PLANNING SERVICES We have a range of client propositions from the full financial planning service to bespoke services for those clients who only require advice in limited areas. Our advice may include, amongst other matters, the following services: Financial Modelling: Including individual cash flow projections to provide clients with a roadmap to achieving their financial aims and objectives whilst demonstrating whether they are likely to achieve their goals. Estate Planning: Advice on Inheritance Tax and succession planning. Future Capital Needs Planning: Funding for education or buying that dream holiday home. Tax Structures: Ensuring clients maximise the structures and reliefs available. Retirement Planning: Growing pension funds pre-retirement and taking income efficiently in retirement. Family Protection: Ensuring funds are in the right hands at the right time in the event of an early death, contraction of a serious illness or the sudden loss of income. 4

7 Investments are adapted to market developments and clients goals and circumstances Extensive research and analysis Knowledgeable and experienced Investment Managers Investment Manager makes all investment decisions investment management WHY DISCRETIONARY MANAGEMENT? Some investors like to manage their investments themselves; however, not everyone has the time, knowledge or inclination to do so. It requires extensive time, knowledge and research to analyse the vast range of investments available within the market place to make an informed decision. An investment portfolio is best served when it is under constant review allowing it to be adaptable to new developments. For those investors who lead busy lives and have little time to devote to their investments, City Asset Management s discretionary management service will be of particular interest. Our in house research department specialises in analysing the current economic environment, global asset classes and geographical regions which in turn enables us to select the most appropriate investments for our clients. This unconstrained approach allows us to be more nimble than many of our larger peers. Furthermore, we regularly have access to investments at institutional rates as well as being able to identify niche investment opportunities that are out of the reach of many investors. Once a comprehensive review has been undertaken to determine the client s investment mandate, one of our dedicated, highly knowledgeable and experienced investment managers will take the responsibility for making all of the day to day investment decisions. 5

8 Aim for a real return after inflation and costs over an investment cycle Emphasis on capital preservation Diversified multi asset portfolios investment philosophy The cornerstone of our investment philosophy is to aim to provide clients with a real return with an emphasis on capital preservation. In essence, over an investment cycle, we aim to deliver a positive return after inflation and costs have been taken into account, as we believe this will increase the client s spending power and standard of living over the longer term. To achieve this we predominantly use a multi-asset approach to investing which involves investment across a wide range of asset classes and geographical locations. Research has consistently shown that asset allocation is a crucial determinant in long term investment portfolio performance. It is believed that over 90% of the variability of a portfolio s returns can be attributed to asset allocation, while market timing and individual stock selection make up the remainder. 1 While it is true that equities provide some of the best returns available, it is also true that they are one of the riskiest asset classes. Therefore, we believe that by diversifying equities with other assets such as cash, bonds, property, commodities, hedge funds and structured products it is possible for a portfolio to participate in some of the upside in rising equity markets yet also limit the downside when markets are falling. It has been our philosophy now for over 20 years that multi-asset diversified portfolios provide more consistent investment returns with a lower degree of risk and volatility when compared with more traditional equity orientated portfolios. Asset Allocation Policy 91.5% Security Selection Other Market Timing 4.6% 2.1% 1.8% 0% 20% 40% 60% 80% 100% 1 Brinson, Singer and Beebower

9 investment process At City Asset Management we employ a well defined, structured and repeatable investment process to ensure the integrity of our decision making. Our process begins with an analysis of the global investment environment, which is formally discussed at our monthly Asset Allocation meeting. In this meeting, our research team confirm both our short term (tactical) and long term (strategic) asset allocation following presentations on every investment sector by our in-house analysts. In essence, this means that following our detailed research of the global economy and market place we identify the asset sectors and geographical regions that we believe will offer the best investment opportunities. The next stage of the process is to then undertake detailed analysis of all the investment opportunities within our identified asset sectors and geographical regions. We complete this analysis using a variety of technical methods in addition to interviewing the fund managers. From our thorough analysis we are able to identify what we believe are the best investment opportunities relevant to all risk profiles that we cater for. Investment Managers then construct portfolios that are appropriate to our clients risk profiles and wider circumstances. We operate strict ongoing risk monitoring and controls to ensure that our investment process maintains its integrity throughout. Asset Allocation Fund Selection Portfolio Construction Risk Control & Monitoring 7

10 Tailored to individual client circumstances Diversified investment approach Structurally flexible to facilitate tax planning Regular communication and an online service Collaboration with other professional advisers bespoke discretionary management We specialise in providing bespoke investment portfolios that are geared to a client s unique circumstances and objectives. In practice, this means that we consider all relevant elements of the client s circumstances such as attitude to risk, investment goals, tax position, income objectives and wider circumstances inclusive of any ethical views. With this information in mind, we combine the best of traditional asset classes: cash, equities and bonds, with alternative asset classes such as hedge funds, commodities, private equity, property and structured products, which results in a portfolio that is truly tailored to each individual client. Our bespoke investment portfolios can also be created in a variety of structures to facilitate tax planning with your other professional advisers. General Investment Portfolios ISA Portfolios SIPPs / SSAS Offshore Bonds Trusts Communication is a cornerstone of our bespoke discretionary management service offering. We provide regular reporting in addition to an online service which enables our clients to keep fully up to date with their investments. We are available to discuss any matters arising with our clients either at a face-to-face meeting or via telephone or . Where appropriate, we will work hand in hand with a client s other professional advisers. We offer a service led approach, acknowledging that no two clients circumstances and investment goals are alike. A comprehensive knowledge of our clients is pivotal to how we do business HILARY COGHILL CHIEF INVESTMENT OFFICER 8

11 specialist mandates City Asset Management can cater for a range of specialist investment mandates such as AIM portfolios and mandates that may differ from traditional investment services. AIM Our AIM service consists of a discretionary managed portfolio of securities quoted on the UK Alternative Investment Market (AIM). These portfolios are designed to give investors a balanced portfolio of AIM investments which are carefully selected by our AIM specialists. AIM investments tend to carry a higher investment risk than other equities and therefore this service is only suitable for investors willing to take on a higher degree of risk. EXECUTION ONLY AND ADVISORY PORTFOLIOS Execution Only and Advisory Portfolios are available to clients who have an existing Bespoke Discretionary Management Portfolio with us. 9

12 Dedicated team Valuation reports Online valuations and market views Tax reporting Security of assets Competitive, clear and transparent charging reporting & administration YOUR TEAM As a direct client of City Asset Management, you will have a dedicated team of professionals who are there to look after you and your affairs. This will involve a dedicated Senior Investment Manager, Junior Investment Manager and Client Support Individual. Where financial planning is involved you will also have a dedicated Financial Planner. Alternatively, you may just have contact with the financial planning team if no investment management is required. VALUATIONS AND REPORTS On a six monthly basis, direct investment clients will receive a valuation statement for their portfolios. This will give information on the performance of their investments together with transactions in the period. Reports may be issued on a more regular basis if required. ONLINE PORTFOLIO VALUATIONS Recognising the need for some clients to monitor their portfolios on a more regular basis, clients are also able to access their 10

13 portfolios securely through our online service. Included are up-todate valuations and latest market views and commentaries. TAX INFORMATION On an annual basis, clients will receive an end of year tax pack detailing all the transactions and income generated for the year together with a capital gains tax summary for UK tax purposes. SECURITY OF ASSETS City Asset Management holds all client assets on a pooled basis. All investments are registered either in the name of CAM Nominees Ltd or by a third party custodian in their nominee name. How they are held is dependent on the type of instrument and the market in which it is traded. In respect of onshore and offshore funds, the total of all our clients holdings in a particular fund is simply registered in our nominee name. For UK market traded instruments our entitlement is recorded via the UK CREST system and for overseas holdings our primary custodian relationship is with A J Bell Securities. Our nominee company is run in accordance with Financial Conduct Authority rules. CHARGES Full details of our charges and dealing commissions can be obtained from our charging sheets. Fees for investment management are based on an annual management fee and dealing charges. Charges vary depending upon the investment size and wrappers used. Financial Planning is charged on a fee basis and varies dependent upon the complexity and type of work involved. All charges are agreed prior to work commencing. 11

14 next steps If you are interested in hearing more about any of the services that we offer or would like to arrange an initial meeting then please do not hesitate to contact us. This may be to discuss putting a financial plan and investment management strategy into place for the first time or because you would like to discuss your existing arrangements. CONTACT US City Asset Management Plc 7 Bishopsgate London EC2N 3AR Tel: Fax: info@city-asset.co.uk 12

15 City Asset Management Plc is authorised and regulated by the Financial Conduct Authority. Registered Office: 7 Bishopsgate, London, EC2N 3AR, Registered No This document is for information purposes only and does not constitute an offer to enter into any contract or agreement nor is it a solicitation to buy or sell any investment or to provide any services referred to therein. An investor should obtain independent advice where appropriate before proceeding with any investment or investment service. You should always seek advice from a qualified professional if you have any doubt as to the suitability of any aspect of your financial affairs. The value of investments and the income from them can go down as well as up and an investor may not get back the amount originally invested and may be affected by fluctuations in exchange rates. Past performance should not be seen as an indication of future performance. The Financial Conduct Authority does not regulate tax advice, trusts or offshore investments. The information contained within this document is considered valid at publication however it can be subject to change without notice. City Asset Management cannot be held responsible for any errors or omissions contained within this document. No part of this document may be reproduced at any time without the prior permission of City Asset Management s Chief Executive Officer. City Asset Management Plc all rights reserved.

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