As the emphasis for The Satis Wealth Management Service is on forming a long-term relationship with our clients, the charging structure is based on an ongoing basis with no initial charges, applied by Satis. Our investment minimum is £500,000 and most clients expect to reach £1 million in the foreseeable future.
The charge for the service is met by a tiered ongoing percentage which is based on the funds under the management of Satis. The service is subject to a minimum fee of £5,000 per annum.
Financial Planning Charge
|Portfolio Value||Annual % Charge|
|£0 – £1,000,000||0.70%|
|£1,000,000 – £5,000,000||0.55%|
Example: The total charge for financial planning on a portfolio of £1.5 million is £9,750
Discretionary Investment Charge
|Portfolio Value||Satis Annual % Charge||Satis Annual % Charge inc VAT|
|Total value||0.20% + VAT||£9,000|
Example: The total charge for discretionary investment management including VAT for a portfolio of £1.5 million is £3,600.
Typical Platform Charge
|Value of investments held on Platform||Per Annum|
|Amounts up to £600,000||0.28%|
|Amounts between £600,0000 and £1.2 million||0.18%|
|Amounts over £1.2 million||0.07%|
Example: The platform charge on a portfolio of £1.5 million could be £3,300.
Typical Fund Charge
The investment funds we have recommended will charge their own annual management fees. These vary from 0.0% to 0.55% per annum, depending upon the investment. On average we expect the ongoing charges to be approximately 0.24% per annum.
|Portfolio Value||Fund Charges Per Annum|
Example: The fund charge on a portfolio of £1.5 million could be £3,750.
The Total Charge on an investment of £1.5 million as a percentage could be £1.36% per annum.
|Planning charge||£9,750 per annum|
|Discretionary Investment Charge||£3,600 per annum|
|Platform Charge||£3,300 per annum|
|Fund Charge||£3,750 per annum|
|Total Charge||£20,400 per annum|
If the relationship ends after the Discovery period, then all costs incurred will be covered by Satis. In cases where you instruct Satis to work on your behalf, but decide to end the relationship before the first year’s fee can be taken, an abort fee may be payable. This will be the difference in the fees paid by you to Satis so far, and our annual minimum of £5,000.
Please note the above charges are examples only. All charges will be provided in writing and agreed before any areas of the advice is implemented.
Payment for the Satis Wealth Management Service is taken on a monthly basis and as default from the cash held in your investment account. The account will be managed to ensure that sufficient funds are held to cover all charges as they become payable. Should you wish, payment can be made directly by yourself to us via cheque or electronic transfer.