Investment Services. Wealth and Investment Management

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1 Investment Services Wealth and Investment Management

2 Contents Important information 3 A better vantage point for a clearer picture 5 Investment Philosophy 7 Investment Services 9 Advisory Services 10 Discretionary Services 12 Execution Services 13 Financial Planning 14 Next steps 14 barclays.com/wealth 2

3 Important information This important document explains the service you are being offered. This document must be read in conjunction with the Barclays Wealth and Investment Management Schedule of Fees that details how much the services cost, the Barclays Terms (Wealth and Investment Management), and the relevant application form or forms. Please read these carefully. Our business Barclays is a leading global wealth manager. We operate our Wealth and Investment Management division in 20 countries worldwide. We offer international and private banking, investment management, fiduciary services and brokerage. As a client you will also have access to the breadth of personal, corporate and investment banking expertise across Barclays. These services are available to clients who wish to establish an investment portfolio of 500k and above. Our advisory services Restricted advice we will advise and make a recommendation for you after we have assessed your needs. We offer advice on limited types of products which we offer from a limited number of companies. You may ask us for a list of the companies and products on which we offer advice. Our conduct regulator The Financial Conduct Authority (FCA) is the independent watchdog that regulates financial services in the United Kingdom. This document is designed to meet the FCA s requirements for information disclosure. It contains information to help you decide if the services of Barclays are right for you. Our complaint handling arrangements If you wish to register a complaint, please contact us: in writing at Customer Relations, Barclays, 1 Churchill Place, London E14 5HP by telephone to +44 (0) If you cannot settle your complaint with us, you may be entitled to refer it to the Financial Ombudsman Service. Your compensation scheme We are covered by the Financial Services Compensation Scheme (FSCS). You may be entitled to compensation from the scheme if we cannot meet our obligations. This depends on the type of business and the circumstances of the claim. Most types of investment business are covered up to a maximum of 50,000. Further information about compensation scheme arrangements is available from the FSCS. 3

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5 A better vantage point for a clearer picture At Barclays, we have been providing individuals and their families with financial services for over 300 years. Our innovative, science-based approach enables us to understand how you feel about investment, by bringing together insights from leading thinkers in finance and psychology. By considering both the rational and emotional aspects of investment, we can build a more accurate portrait of you as an investor. Once we have identified how you make financial decisions and what you want from your wealth, we can create investment solutions that more closely match your objectives. We realise that our recommendations need to make sense in the context of your total wealth strategy. That is why we work with you to understand your situation and what you want to achieve not just with the wealth you invest with us, but also the assets you hold outside Barclays. Investment Services We offer a range of ways to help, based on your requirements. You can make your own investment decisions with the added benefit of expert investment advice, backed by our global research capabilities. If you do not want to make your own investment decisions, you can let us manage some or all of your investments for you. And if you want to trade directly in the financial markets, we will carry out your instructions quickly and accurately. You can choose any of these options or combine them to create a solution that is exactly right for you. Our Financial Planning service can help to ensure your holdings are structured in an efficient manner and a clear plan is established that will help you meet your objectives. Goals are rarely static, neither is our ability to help you plan. You will find further details of our Investment Services on the following pages. Whatever level of service you require, we believe that no one is better placed than us to help you manage every aspect of your wealth. However, you should recognise that there are always risks in investing. The value of investments can fall and you may lose capital we cannot eliminate risk but we can seek to minimise and manage it. 5

6 More ways to help We also offer a wide range of other wealth management services. We have summarised these below. Banking Services Our comprehensive banking services will help you manage your finances effectively, around the world. You will receive competitive interest rates and 24/7 online and telephone access to our Banking Office *. We have a range of products and services, from current accounts to term deposits, to make managing your money easier. We are conscious of your need to comply with all relevant tax laws, which is why we can connect you with some of the best tax and legal specialists around the world. Lifestyle Services In today s busy world it can be hard to find a quiet moment to think about charitable giving and philanthropy. Where to start, how much to give, what to choose and how to achieve the right result are just some of the questions you may have. Whatever stage you are at, we can help you think through the issues, set your giving goals, access third party advisors and guide you to a fulfilling outcome. We also offer traditional and highly sophisticated financing services for individuals, their companies and trusts, from straightforward mortgages to complex credit structuring. Our wide range of lending solutions can help you finance business opportunities, purchase commercial assets or generate additional liquidity. Wealth Advisory Our technical expertise and experience can help to better protect your wealth through tax-efficient trust structures and insurance solutions. Whether your wealth has come from a successful business or family inheritance, our Wealth Advisors provide estate, retirement and financial planning advice to guide you through the often complex personal issues that you face. We also offer comprehensive solutions for employers and corporations, including share plans and employee benefit trusts. * Open 24 hours a day, 7 days a week except 25 December. Online access may be limited in some countries due to the prohibitive transmission of encrypted data over telephone lines. 6

7 Investment Philosophy Our advice is based on our unique Investment Philosophy. By understanding your financial personality, we can closely match our investment services to your individual requirements. At Barclays, we have pioneered the application of behavioural finance to investing. This discipline looks at how emotional factors can shape your decisions and therefore affect your potential investment success. Using rigorously tested scientific research, our Investment Philosophy allows us to identify your attitude to risk, decision style, and your need for stability throughout the journey. We have developed a unique tool the Financial Personality Assessment (FPA) that enables us to build an accurate and highly detailed profile of your preferences. This includes your feelings about the long-term trade-offs between risk and reward, how you react to short-term gains or losses, and the degree to which you prefer to avoid or engage in financial markets. We also consider how you make investment decisions, including your degree of confidence in financial matters, the level of advice you require and how much belief you have in the ability of an investment professional to improve returns. This information enables us to provide the support and services you need with a high degree of precision. It also helps you avoid common mistakes when making investment decisions, such as buying investments at high prices and selling low, or letting a focus on short-term losses affect your long-term gains. We realise it is important to consider your total wealth, not just your investment portfolio. This enables us to support your short-term liquidity needs and lifestyle requirements, while also taking into account your business and entrepreneurial investments, and long-term goals. 7

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9 Investment Services Whether you are an experienced or first-time investor, we can provide the level of service that suits you. Advisory Services If you like to make your own investment decisions, our Advisory Services offer you all the help and guidance you need to invest effectively. Working in partnership with your Private Banker, you will be able to make informed choices about your investments based on our expert research and knowledge of world markets. You will also benefit from advice on specific investment ideas, portfolio construction and innovative investment strategies. This service is designed to provide a convenient, low-maintenance solution for the management of your investments. Whatever the market conditions, we provide constant oversight and decision-making with a view to ensuring your portfolio is always in the right place at the right time. Clients with qualifying assets can also benefit from a more tailored service provided by a dedicated Portfolio Manager. We will also keep you fully updated with regular reports, statements and other information. This service is designed for people who prefer to manage their own investments, while being able to receive ongoing advice and support. Clients with qualifying portfolios may also benefit from a designated Investment Advisor to help look after their assets. Discretionary Services If you prefer to delegate the management of your investments to Barclays, our Discretionary Services provide you with access to the extensive resources of Barclays, delivered by a Portfolio Manager. Through our experienced team of Portfolio Managers, located in the UK and globally, we are able to bring to bear the best of our global research and investment capabilities on your behalf. Execution Services We can offer experienced investors, who want to trade directly on the financial markets without the benefit of advice, access to a global network of institutional dealers and trading specialists. You can execute simple trades through your Private Banker. You should recognise that there are always risks in investing. The value of investments can fall and you may lose capital we cannot eliminate risk but we can seek to minimise and manage it. 9

10 Advisory Services Control your own portfolio with professional advice every step of the way. Our Advisory Services allow you to make your own decisions and express your personal investment views, while working alongside your Private Banker. Whether you feel confident about your own abilities or are relatively new to investing, we can provide the appropriate level of advice for your needs. The service is designed to be highly collaborative and all our recommendations will be discussed with you in detail before you make the final decision. Our process is designed to ensure that you fully understand the underlying rationale and risks involved in any investments you make, including how they will fit into your overall wealth strategy. You retain complete control of your portfolio, with the added benefit of ongoing professional advice and execution, access to some of the best product providers in the world and investment solutions that have been pre-screened through our rigorous selection process. We will alert you to investment opportunities, trends and themes as they arise and provide you with proactive advice on the risk rating, asset allocation and management of your portfolio. You can cancel the Advisory Services at any time. If you choose to cancel you will not have to sell your products we will offer you the option to move your holdings, where possible, to another Barclays service or to a third party. Fees differ between our services and you can find full details of these in our Schedule of Fees. Advisory Investment Service At the heart of this service is your Private Banker/ Investment Advisor, who will provide you with ongoing advice as part of a long-term partnership. This service could be suitable for you if you want to make your own decisions, but require broad investment advice that takes into account your personal circumstances, objectives and risk profile. As part of the service, we will also make sure that your chosen assets remain suitable for your needs throughout the course of your advisory relationship with us. You can opt to have all your investments managed in this way or use this service for just some of your assets. Your Private Banker/Investment Advisor, can help you decide on the best combination of services to meet your needs. Restricted advice we will advise and make a recommendation for you after we have assessed your needs. We offer advice on limited types of products which we offer from a limited number of companies. You may ask us for a list of the companies and products on which we offer advice. 10

11 Features at a glance Constructing your portfolio Using the results of your Financial Personality Assessment, we can help you create a fully diversified portfolio or one focused on specific asset classes or investment themes Our rigorous due diligence process looks at conditions across world markets and identifies the providers (Barclays or external) that are best placed to take advantage of these trends Our recommendations will utilise the full extent of our global research capabilities, enabling us to identify suitable solutions with a high degree of conviction We offer you privileged access to investment opportunities generally not available to individuals We also offer access to financial planning experts. Monitoring your portfolio We take an active approach, continually reviewing providers, fund managers and the specific products themselves to ensure they are performing as expected, given the market context If there are developments that could affect your holdings, your Private Banker/Investment Advisor, will alert you and give advice on what to do, for example, buy more, hold, or sell, with suggestions on where to reinvest, if appropriate Your Private Banker/Investment Advisor, will periodically review your original objectives to see if they are still relevant to your needs, taking into account any changes to your wealth or family circumstances We will carry out quarterly reviews of your portfolio to ensure it remains within its agreed risk profile Where appropriate, we will discuss a re-balancing of your investments with you to help ensure you remain on track to achieve your financial aims Portfolio reporting You will benefit from an ongoing relationship with your Private Banker, the frequency and type of contact is up to you We undertake a comprehensive review of your investments every six months, including performance, risk profile, asset allocation, and a summary of the investment issues discussed during that period We provide annual tax packs showing any capital gains, dividends and income you have received 11

12 Discretionary Services For clients who require an actively managed portfolio without the burden of day-to-day decision making. If you prefer to delegate the management of your investments to Barclays, our Discretionary Services provide you with access to the complete resources of Barclays, delivered by a Portfolio Manager. Through our global team of Portfolio Managers we are focused on delivering your investment objectives and financial goals, by bringing to bear their collective experience as well as the best of our global research and investment capabilities on your behalf. Drawing on the strengths of Barclays and using our state-of-the-art investment techniques, including our pioneering Investment Philosophy, we provide a comprehensive range of investment solutions for our discretionary clients. These solutions include specialist investment mandates (including Fixed Income, Equities and Hedge Funds) or they can be tailored to meet individual requirements for larger portfolios. This service is designed to provide a convenient, low-maintenance solution for the management of your investments. This enables you to concentrate on your business or personal interests, confident that your assets are being professionally managed. Whatever the market conditions we provide constant oversight and decision-making with a view to ensuring your portfolio is always in the right place at the right time. We will also keep you fully updated with regular reports, statements and other information. The Portfolio Manager will run your investment portfolio in line with the investment objectives agreed by you and set out in a mandate Our rigorous due diligence process looks at conditions across world markets and identifies the providers (Barclays or external) that are best placed to take advantage of these trends Our recommendations will utilise the full extent of our global research capabilities, enabling us to identify suitable solutions with a high degree of conviction We offer you privileged access to investment opportunities generally not available to individuals We also offer access to financial planning experts. Monitoring your portfolio The Portfolio Manager will carry out daily monitoring of positions We take an active approach, continually reviewing providers, fund managers and the specific products themselves to ensure they are performing as expected, given the market context The Private Banker will periodically review your original objectives to see if they are still relevant to your needs, taking into account any changes to your wealth or family circumstances Where appropriate, we will re-balance your investments with the aim of ensuring your portfolio remains on track to achieve your financial aims Features at a glance Constructing your portfolio The Private banker will use the results of your Financial Personalty Assessment TM or your individual preferences to recommend either a fully diversified portfolio or one focused on specific asset classes or investment themes You can choose a target benchmark to assess the performance of your portfolio against, for example, an existing stock-market index or a personalised benchmark Portfolio reporting We undertake a comprehensive review of your investments every six months, including performance, risk profile, asset allocation, and a summary of the investment issues discussed during that period We provide annual tax packs showing any capital gains, dividends and income you have received 12

13 Execution Services Quick and convenient investing on an execution-only basis. For clients who do not require advice and who want to trade directly on the financial markets we can provide you with overall market colour, real-time information, trends, market trading ideas and themes. You will retain direct control of your investments and can trade a wide range of securities including single bonds and equities as well as foreign exchange. Our experts are connected to a range of brokers and liquidity pools, with the added benefit of Barclays research, and have the ability to trade on an extended-hours basis. Features at a glance You have access to a designated multi-asset class dealing line We have direct access to the world s markets and will personally execute trades promptly and in line with your instructions You have access to our world-class research We provide onshore and offshore trading capabilities You can take advantage of competitive market pricing through Barclays presence in global markets and extensive dealing expertise We offer extended-hours trading capability You can benefit from seamless settlement, whether you choose a delivery versus payment or custody basis Alternatively if you want to execute a simple trade, you can provide your Private Banker with your trading instructions and your order will be executed in a professional and timely manner. 13

14 Financial Planning At Barclays, we have the specialist expertise to help you achieve the long-term goals for yourself and your family s future. Financial Planning is a bespoke service from Barclays focused on putting your investment strategy to work. Our Wealth Advisor is there to provide technical expertise and experience to uncover opportunities that will better protect your wealth. Once these vehicles have been used, we will invest the remainder of your assets in a variety of products, including collective investment schemes, investment trusts, cash deposits and single securities such as shares and bonds, according to your needs. As part of this approach, we will also consider your liquidity needs, income requirements and tax situation where appropriate. We then invest your assets as effectively as possible, using a variety of solutions such as Individual Savings Accounts, pensions, offshore bonds, trusts and, where appropriate, Enterprise Investment Schemes and Venture Capital Trusts. The range and type of products we recommend for you will be regularly reviewed to ensure they continue to meet your requirements. Tax rules may change. The value of the benefits, and the other effects, of any particular tax treatment for an investor will depend on that individual s circumstances. Next steps For further information, please contact your Private Banker. You can also visit our website barclays.com/wealth 14

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16 This item can be provided in Braille, large print or audio by contacting your Private Banker. Barclays offers wealth and investment management products and services to its clients through Barclays Bank PLC and its subsidiary companies. Barclays Bank PLC is registered in England and authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. Registered No Registered Office: 1 Churchill Place, London E14 5HP. Item Ref: BARW0121 February 2015