CONTEMPORARY THINKING WITH TRADITIONAL VALUES

CONTEMPORARY THINKING WITH TRADITIONAL VALUES Capital is at risk when investing in the stockmarket. Only invest when you understand and accept the risks involved. London Millennium Bridge and St Paul s Cathedral

Our firm has served the interests of clients for over 100 years, delivering the highest standard of investment management and advice centred on the principles of accessibility, technical excellence and integrity. Capital is at risk when investing in the stockmarket.

HARGREAVE HALE INDIVIDUAL. INTELLIGENT. INVESTMENT INDIVIDUAL We understand that no two people are the same, so anything we do will always focus on clients as individuals. We work with our clients to assess their personal circumstances and determine future goals, ensuring that any solution we provide is suited to their specific needs. Our philosophy is to try to give clients what they want rather than tell them what they can have. INTELLIGENT Our team of experienced investment managers and analysts have instant access to the latest technology, research and data allowing them to uncover attractive market opportunities and make informed, intelligent investment decisions, whilst never losing sight of our clients personal objectives. INVESTMENT Clients are able to draw on our vast stock market knowledge and considerable investment experience, with a view to meeting personal short, medium and long term financial goals. We have over 70 highly qualified, experienced investment professionals across our firm who are guided by the strongly held principles of Investment Discipline, Active Management and First-Class Service something we believe sets us apart from others. Although we may have grown and changed over the years, our investment ethos remains the same the client s financial wellbeing is paramount. It is this approach which has seen clients entrust us with their personal wealth for many years. 1

CORPORATE BROCHURE ABOUT US ABOUT US The roots of Hargreave Hale date back to 1897, when a stock broking firm was founded in Blackpool by Marsden W Hargreave, to serve the investment interests of family members and close friends. In 1987, our current Chairman Giles Hargreave merged his own company (Hargreave Investment Management) with the family stockbroking business (Marsden W Hargreave Hale & Co) to create the business we have today. In February 2001, Hargreave Hale converted from a partnership to a limited company, and at the same time became an associate of Investec (the listed banking group) with the latter purchasing a 35% interest. Today our firm, which retains its head office in Blackpool, has evolved to become a leading provider of investment management and stock broking services to individuals and families, corporate entities, charities, trusts, solicitors, accountants and intermediaries across the UK. However, despite this growth over the years, the company s philosophy has remained the same the client financial well-being is paramount. We believe Marsden Hargreave would have wanted it this way. LOCAL FEEL... NATIONAL PRESENCE Blackpool Tower and new promenade Capital is at risk when investing in the stockmarket. 2

HARGREAVE HALE INDIVIDUAL. INTELLIGENT. INVESTMENT The growth we have witnessed has allowed us to strengthen our client relationships through an increasing local presence. We now have regional offices located across the UK reflecting our commitment to providing clients with a personal service closer to home. BANGOR The origins of our Bangor office date back to 1948. One of the largest firms in the North of Wales specialising in investment management, it is headed by Matthew Rainbird. The team use their extensive experience to provide a comprehensive service to private clients, whilst forging close relationships with professional counter parties such as solicitors, accountants and financial advisers. BLACKPOOL The history of our Blackpool office dates back to 1897 when Marsden W Hargreave opened the first Hargreave Hale office. Since then the office has experienced considerable growth, whilst continuing to provide a personalised service to clients, many of which are private individuals and families who have been with the firm for generations. Leyton Hunt is head of the office and between he and his fully qualified team of investment managers there is over 100 years collective industry experience. He attributes the team s success to local knowledge, strong investment expertise and sound technical excellence. CARLISLE Our Carlisle office have been addressing the needs of investors in Cumbria and the surrounding regions since 1990. The team, headed by Marilyn Salkeld provide a flexible range of investment management services aimed at private investors, corporate clients, charities and trusts. The office is also the central point of contact for our Estate and Probate Valuation Service directed at solicitors and accountants. 3

CORPORATE BROCHURE ABOUT US LANCASTER Our Lancaster office became part of the Hargreave Hale regional network in 2009. Andrew and his team share over 70 years experience in the industry and specialise in discretionary management, advisory share dealing and tax efficient investment. LONDON Our London office was established in 1987 and is home to our largest investment team. The office also houses our highly regarded fund management arm led by Chairman Giles Hargreave. Drawing on the vast knowledge and research capabilities of our expert analysts, the London team headed by Samantha Cook, provide a wide range of investment services for clients including discretionary management, inheritance tax portfolios, ISAs, SIPPs and also guidance on employee share options. NORWICH Our Norwich office opened in 2015, extending our coverage to the east of England. The investment team, each of whom hold Chartered Fellowship status, is headed by Richard Larner. The team share over 50 years collective experience and provide a range of discretionary services for private individuals, trusts, pension schemes and local enterprises. Capital is at risk when investing in the stockmarket. 4

HARGREAVE HALE INDIVIDUAL. INTELLIGENT. INVESTMENT NOTTINGHAM Our Nottingham office became part of the Hargreave Hale regional branch network in 2015. Riccardo Landucci heads the team who bring a wealth of knowledge, sharing over 80 years of industry experience, each holding Chartered Member status with the Chartered Institute of Securities & Investments. The team is dedicated to building relationships with local intermediaries who may require support on a DFM basis and private clients seeking professional investment advice. WORCESTER Our Worcester office became part of the Hargreave Hale regional branch network in 2005. Headed by Mike Davies, the experienced Worcester team is dedicated to providing a premium service and quality investment management, tailored to the specific needs of each individual client. It is an approach which has allowed the team to establish and build many long term relationships over the years. YORK Our York office opened in 2014 providing client coverage across Yorkshire and the adjoining areas. The investment team led by Tom Holliday have considerable experience in managing discretionary mandates for clients. The teams growth and success is based on an ongoing commitment to the highest levels of investment service and customer care. The Wheel of York and Royal York Hotel 5

CORPORATE BROCHURE ABOUT US OUR JOURNEY 1987 Firm merges with investment company owned by current chairman Giles Hargreave creating new London office 1897 Firm founded as Marsden W Hargreave & Co in Blackpool 1979 Firm acquire Lord & Caldwell Stockbrokers 1990 Carlisle office opens 1978 Firm acquire Rowe & Co Stockbrokers 1981 Firm acquire WLB Hale & Co Stockbrokers in St Annes-on-Sea creating Marsden W Hargreave Hale & Co 1989 Bangor office opens following acquisition of R A Coleman Norwich Castle 6

2001 Firm becomes an associate of the Investec Banking Group purchasing a 35% interest 2001 Firm Converts from a partnership to limited company status becoming Hargreave Hale Ltd 2009 Lancaster office opens following acquisitions of local W H Ireland branch HARGREAVE HALE INDIVIDUAL. INTELLIGENT. INVESTMENT 2014 York office opens 2015 Nottingham office opens 1998 St Annes-on-Sea office closes following consolidation with Blackpool office 2005 Worcester office opens following acquisition from Carr Sheppards Crossthwaite 2012 Direct Deal business and Worcester office merge 2015 Norwich office opens 7

CORPORATE BROCHURE OUR SERVICES Lancaster Millennium Bridge 8

HARGREAVE HALE INDIVIDUAL. INTELLIGENT. INVESTMENT OUR SERVICES We pride ourselves on offering an efficient yet personal service combining the latest research and technology with a traditional personal approach to stock broking and portfolio management, whilst also offering a broad range of products tailored to individual needs. Portfolio Management Share Dealing Services Self-Invested Personal Pension (SIPP) Individual Savings Accounts (ISA) Inheritance Tax Portfolio Service (IHT) Fund Management Services Estate and Probate Valuation Various share dealing charges, management fees and other administrative charges (where relevant) will be applied for these services in line with our current Rate Cards and Terms and Conditions. 9

CORPORATE BROCHURE OUR SERVICES MANAGING WEALTH OUR PORTFOLIO MANAGEMENT SERVICES Our Portfolio Management services allow clients to choose the way we manage their personal investment portfolios, whether they wish to be included in all decisions made or prefer to leave matters entirely in the capable hands of our investment managers. We will determine a client s financial circumstances before identifying present and future investment goals in full appreciation of their tolerance to risk, our investment managers will then proceed to devise a strategy and create a portfolio aimed at achieving those goals. The flexible nature of these services mean that portfolios can be managed using a wide range of investment types, from individual securities to collective investment funds. We keep clients informed throughout the whole process, initially confirming the basis upon which we will manage a portfolio and then by providing updates each time our investment managers transact on their behalf. We also provide portfolio valuations which show performance versus any agreed benchmarks. Valuations can be produced at any time and can be discussed with our investment managers at any point. There are two Portfolio Management services Discretionary and Investment Managed. The Discretionary Service Allows clients to delegate the entire management of their portfolios and in doing so take advantage of the full capabilities of our experienced investment professionals. Within the agreed mandate, we will manage the portfolio without needing to refer to you, leaving you free to concentrate on the other important things in life. The Investment Managed Service Aimed at clients who want to play a more active role in the management of their portfolios. Clients using this service have ready access to our investment managers who will make recommendations on a portfolio in line with any agreed objectives. However unlike our Discretionary offering, our investment managers will always obtain approval before any action is taken, meaning that clients retain ultimate control of their portfolios. Capital is at risk when investing in the stockmarket. 10

HARGREAVE HALE INDIVIDUAL. INTELLIGENT. INVESTMENT EXPERT EXECUTION OUR SHARE DEALING SERVICES Our firm has a rich stock broking heritage and we continue to provide a comprehensive range of sharing dealing services, which draw upon our extensive in-house research and execution capabilities. Our services are also designed to reflect the different levels of stock market experience and interest a client may have. Advisory Dealing Our Advisory Share Dealing service is aimed at clients who wish to retain control of the decision making process when selecting assets for their portfolio, but also take advantage of our investment professionals who can provide comprehensive advice on global markets and a broad range of investments. Any advice provided will be completely impartial and tailored to the specific risk and reward profiles. Execution-Only Share Dealing Our Execution-Only Share Dealing service will appeal to clients who are comfortable making their own investment decisions and require fast and efficient execution. We are on hand to execute instructions across a wide range of asset classes including; UK listed shares, shares listed on major world exchanges, exchange traded funds, corporate bonds, government stocks, warrants, unit trusts and OEICs. Employee Share Options Hargreave Hale provide a comprehensive dealing and administration service, supporting corporate clients who have in place share option/share save scheme programmes for employees and executives. Our team of specialists are available to provide valuable guidance and advice for organisations and their employees on the intricacies of buying and selling shares, using our highly efficient service. For company employees, we can assist by; Providing loan facilities to assist with the exercising of options Selling either a proportion or the total amount of the resulting shares acquired Transferring the resulting shares acquired into an ISA* (subject to HMRC guidelines) Providing timely settlement and administrative support to reduce paperwork Employees who use our service also have the option of continuing to use Hargreave Hale for ongoing investment advice and support. *Tax benefits depend on individual circumstances and may be subject to future change. 11

CORPORATE BROCHURE OUR SERVICES CHOICE AND FLEXIBILITY THE HARGREAVE HALE SIPP The Hargreave Hale SIPP is designed to provide clients with a flexible, tax efficient and cost effective vehicle to save for retirement. The framework of the scheme means that clients have greater freedom to make their own investment and asset allocation decisions, when compared with traditional personal pensions. They also have the option to transfer other existing pensions (either by cash or in specie) into the SIPP, consolidating all arrangements within one scheme. Clients have the freedom to choose from a wide range of investments such as: investment trusts unit trusts and OEIC direct equities (stocks and shares, provided they are quoted on a recognised stock exchange) Hargreave Hale acts as the investment manager or deals manager to a range of pension schemes. We do not provide advice on pension planning or pension transfers, however we do have access to network of strategic partners who can provide these services. Once a Scheme account has been opened, it benefits from all of Hargreave Hale s associated services including; share dealing, portfolio management and safe custody. Capital is at risk when investing in the stockmarket. 12

HARGREAVE HALE INDIVIDUAL. INTELLIGENT. INVESTMENT TAX EFFICIENT SAVING THE HARGREAVE HALE ISA Individual Savings Accounts, commonly known as ISAs, play an important role in the overall financial planning activities of many of today s investors. Gains made on investments held within the ISA are exempt from Capital Gains Tax, and no additional tax is payable on dividends or interest paid on those investments. Hargreave Hale provide a Stocks and Shares ISA, where clients have the choice of investing in a universe of assets to create a personalised portfolio (subject to ISA rules). These assets include; shares, fixed interest stocks gilts unit trusts investment trusts Clients who hold Stocks and Shares ISAs with other providers also have the option of transferring these arrangements over to Hargreave Hale at no cost, however current ISA providers may charge an exit fee. Clients interested in investing on behalf of children, may way wish to consider the Hargreave Hale Junior ISA (JISA) which shares the tax efficiency benefits of a regular Stocks and Shares ISA. NB. Tax rules may be subject to future changes. The benefits of any tax reliefs depend on individual circumstance. The ISA needs of clients using our Discretionary and Investment Managed services would be left in the expert hands of our investment manager, who will oversee the portfolios in line with any agreed objectives and also make sure that ISAs are used where appropriate. 13

CORPORATE BROCHURE OUR SERVICES ESTATE PLANNING OUR INHERITANCE TAX PORTFOLIO SERVICE Our Inheritance Tax Portfolio Service is a discretionary managed solution designed to help limit any potential inheritance tax (IHT) liability on a deceased estate, whilst also aiming to deliver equity related returns. A liability to inheritance tax can be reduced through investment in a diversified portfolio of companies which qualify for Business Property Relief. Provided these assets are held for at least 2 years, they become exempt from inheritance tax. Most AIM* listed shares qualify for Business Property Relief. Investing in a portfolio of AIM listed shares (securities) can quickly mitigate Inheritance Tax, whilst still allowing access to the capital if needed. The IHT Portfolio invests in stock market related investments, mainly in smaller companies which should be considered higher risk. The value of these investments can go down as well as up. Capital is at risk and investors may not get back the full amount invested. The tax interpretation applies to rules force for the current tax year (2015/2016). Current Inheritance Tax rules may be subject to future change. Investors should discuss their financial arrangements with their own advisor before applying as the benefits of any tax reliefs depend on individual circumstances. Our specialist investment manager is responsible for the construction of the portfolios, employing a strict value based approach. The objective here is to identify qualifying assets with the right characteristics to help manage risk and drive returns. A typical portfolio will hold a between 15 and 25 companies spread across a variety of sectors, but will always focus on a client s specific preference for risk and desire for income. Capital is at risk when investing in the stockmarket. 14

HARGREAVE HALE INDIVIDUAL. INTELLIGENT. INVESTMENT IHT and ISAs In August 2013, the Treasury confirmed that AIM shares would be eligible to be held in ISAs. When combined with the potential IHT reliefs that some AIM shares can offer, it presents clients with a highly tax efficient form of investment, where there is no liability to income, capital gains and inheritance taxes (IHT subject to a minimum holding period) Upon request, we are able to create and manage AIM IHT ISA portfolios for clients aiming to protect wealth from IHT on their estate. Benefits of an AIM IHT ISA portfolio include; IHT free after two years Income tax free Capital gains tax free growth Transfer existing ISAs to benefit from IHT relief More details about holding AIM shares within a Hargreave Hale ISA, are available upon request. * The AIM market is a junior stock market for smaller companies. 15

CORPORATE BROCHURE OUR SERVICES HELP THROUGH DIFFICULT TIMES OUR ESTATE AND PROBATE VALUATION SERVICE Our dedicated Estate and Probate Valuation team provide a fast and efficient service to ease the administrative burden on clients and connected parties overseeing the particulars of a deceased estate. We can assist those in the Legal profession and also Executors acting independently by providing the necessary data to calculate the level of inheritance tax chargeable to an estate, the capital gains on sales made by the Executor and the value of any assets to be inherited as specified in the will, which in turn may affect the beneficiary s capital gains tax position in the future. The speed of service means our team can often provide a valuation within one week of receiving a probate request. Upon settlement of an Estate, Beneficiaries and Trustees also have the option of continuing to use Hargreave Hale for ongoing investment advice and support. Key features of the service: Capital is at risk when investing in the stockmarket. preparation of probate valuations produced from either a list of stocks or the original share certificates, together with details of any holdings that are no longer valid liaison with relevant registrars on your client s behalf to verify their holdings quick response valuations probate valuations are issued in an efficient and timely manner arrangement of share disposal on behalf of Estate Executors, Beneficiaries and Trustees 16

HARGREAVE HALE INDIVIDUAL. INTELLIGENT. INVESTMENT ASTUTE INVESTING OUR FUND MANAGEMENT CAPABILITIES Our strong reputation as fund managers has been built on the foundations of expert market analysis, intelligent stock selection and a true understanding of value; something which has been key to our success in serving investors over the years. Our dedicated funds team is led by Giles Hargreave and is widely considered to be one of the industry s leaders in UK small and mid-cap fund management, sharing over 180 years experience. Unitised Funds The team has considerable experience in managing unit trusts and are responsible for the investment mandates of several unit trust funds marketed under the Marlborough brand. These include the Special Situations Fund, the UK Micro-Cap Growth Fund and the Multi-Cap Income Fund. Venture Capital Trusts As well as unit trusts, our funds team are experienced in managing Venture Capital Trusts (VCTs) and currently oversee the investment mandates of two schemes Hargreave Hale AIM VCT 1 and Hargreave Hale AIM VCT 2. Private Mandates Institutional Clients & Family Offices Our funds team also manage several non-retail small/mid-cap equity strategies, aimed at representatives of family offices, pension schemes and other financial institutions. The strategies have long established performance, full details of which are available upon enquiry. Information on these funds can be obtained from any Hargreave Hale office or from Marlborough Fund Managers at www.marlboroughfunds.com. 17

CORPORATE BROCHURE CLIENT SECURITY KEEPING CLIENTS SAFE AND SECURE At Hargreave Hale, we are committed to providing the highest levels of professional service and customer care. We are authorised and regulated by the Financial Conduct Authority (FCA reference number 209741) which means that we operate within a robust framework designed to serve the best interests of clients at all times. The FCA requires firms to hold certain amount of capital in their balance sheet, the value of which depends on the size of the company and the nature of business that company undertakes. Hargreave Hale has significantly more capital in its balance sheet than is required by the FCA. Furthermore, Hargreave Hale has no outstanding loans or other debts. 18

HARGREAVE HALE INDIVIDUAL. INTELLIGENT. INVESTMENT Client assets Investments held by Hargreave Hale on behalf of our clients are generally registered or recorded in the name of our nominee company (Hargreave Hale Nominees Limited), and held on a pooled basis. Any investments that we are unable to hold within our nominee company will be held by an external eligible custodian in an account whose name reflects the fact that the assets are being held for our clients and not for ourselves. Hargreave Hale has systems and controls that provide regular reconciliations of stock accounts with our custodians. Our nominee company is wholly owned by Hargreave Hale Limited and is not used for any purpose other than to register the assets of Hargreave Hale Limited clients so that those assets are segregated from our own. Client money Money held by Hargreave Hale on behalf of clients is held in accordance with FCA s Client Money Rules. Hargreave Hale has systems and controls that provide regular reconciliations of cash accounts with our bankers and custodians. Financial Services Compensation Scheme As an authorised firm, eligible clients of Hargreave Hale are protected by the Financial Services Compensation Scheme (FSCS). This seeks to offer a level of guarantee in the event that a financial services firm should default and not all assets can be recovered. For details of this scheme, please visit www.fscs.org.uk Our insurance We have own insurance cover to provide protection in the unlikely event of a claim. This covers such things as fraud, theft, wilful default or negligence. If Hargreave Hale goes into default Client money and assets held by Hargreave Hale are segregated and ring fenced from those of Hargreave Hale, in the event that Hargreave Hale itself defaults, client money and assets cannot be used to cover Hargreave Hale s losses. Other Memberships For added security, we are also members of the following professional organisations and exchanges, bound by their rules and codes of conduct: Member of the London Stock Exchange (LSE) Member of the Wealth Management Association 19

CORPORATE BROCHURE CONTACT KEEPING CLIENTS IN TOUCH Our aim is not only to provide expert advice, but also allow clients to stay in touch with how their investments and global stock markets in general are performing. Online account access ClientZone Our internet-based ClientZone provides a fast and convenient way for clients to access their personal portfolio information online. Clients can view all holdings (valued at the previous day s closing price) as well as cash statements in a safe and secure environment. 20 The Investment Bulletin Prepared by our in house analysts, the Investment Bulletin is a valuable source of investment inspiration and market commentary and is available free to clients via email or as a download via the Hargreave Hale website.

HARGREAVE HALE INDIVIDUAL. INTELLIGENT. INVESTMENT CONTACT US LONDON Accurist House 44 Baker Street London, W1U 7AL T 020 7009 4900 F 020 7009 4999 E london@hargreave.com BANGOR Second Floor 30 Dean Street, Bangor Gwynedd, LL57 1UR T 01248 353 242 F 01248 361 745 E bangor@hargreave.com BLACKPOOL 4 Neptune Court Hallam Way Blackpool, FY4 5LZ T 01253 621 575 F 01253 764 894 E blackpool@hargreave.com CARLISLE 10b Clifford Court Cooper Way, Parkhouse Carlisle, CA3 0JG T 01228 515 224 F 01228 514 721 E carlisle@hargreave.com LANCASTER 25 Brock Street Lancaster, LA1 1UR T 01524 541 560 F 01524 541 569 E lancaster@hargreave.com NORWICH Suite 4, Ground Floor 13 15 St Georges Street Norwich, NR3 1AB T 01603 567 120 E norwich@hargreave.com NOTTINGHAM The Point, Loughborough Road West Bridgford Nottingham, NG2 7QW T 0115 896 5840 E nottingham@hargreave.com WORCESTER Saggar House Princes Drive Worcester, WR1 2PG T: 01905 723 551 F: 01905 356 554 E: worcester@hargreave.com YORK 23 High Petergate York, YO1 7HS T 01904 232 780 F 01904 625 355 E york@hargreave.com HARGREAVE HALE SETTLEMENT OFFICE 9-11 Neptune Court Hallam Way Blackpool, FY4 5LZ T 01253 754 700 F 01253 792 012 E settlements@hargreave.com

Member of the Wealth Management Association. Authorised and regulated by The Financial Conduct Authority (FCA Number 209741). The company is incorporated in England and Wales, Company No. 3146580. The registered office is at 9 11 Neptune Court, Hallam Way, Blackpool, FY4 5LZ. October 2015