It is in the interests of our clients and our firms, Partners Wealth Management LLP and Partners Wealth Management Solutions Limited (together, “PWM”), that we obtain the best possible result when placing orders with other firms, such as third-party brokers and fund managers, for the execution of client orders or when transmitting orders on behalf of clients.
We are required under the rules of the Financial Conduct Authority (FCA) to take all sufficient steps to provide best execution when carrying out such transactions and to provide clients with a copy of the policy we have adopted to achieve that objective. This policy applies to all execution provided to retail clients through a range of services. This policy should be read in conjunction with PWM’s Terms and Conditions and our Conflict of Interest Policy.
This Best Execution Policy applies to orders in financial instruments, such as funds and other securities, placed or transmitted by Partners Wealth Management LLP and Partners Wealth Management Solutions Limited.
When placing orders with other firms for execution or when transmitting orders, PWM will make every effort to ensure the best possible result for our clients, taking into account the following factors:
For retail clients, the price and cost of execution will normally be the most important factors in obtaining the best possible result. PWM will assume this is the most important outcome for client transactions unless we are informed otherwise.
When arranging for the execution of a client’s order, PWM may:
All orders placed by PWM are executed through third parties. PWM will regularly assess the third parties available to us to identify those that will enable us, on a consistent basis, to obtain the best possible result when arranging the execution of client orders.
The third parties used by PWM have their own responsibilities in relation to best execution and client order handling. PWM undertakes periodic monitoring to ensure these third parties meet relevant regulatory requirements and have an up-to-date Best Execution Policy.
If a client provides instructions indicating that price is not the most important factor in executing the order, PWM will make every effort to comply with those instructions. However, this may not always be guaranteed due to the nature of the order or the type of financial instrument in question.
PWM will make all decisions regarding the placement of orders in relation to execution venues. As such, PWM will not generally accept specific instructions from clients regarding the venue where the order is executed. If PWM does accept specific client instructions, clients should be aware that this may prevent PWM from following the processes set out in this policy (which have been designed to obtain the best possible result for the execution of orders).
For orders in collective investment schemes, such as Unit Trusts, OEICs, and Investment Trusts, PWM will place the order directly with the relevant fund manager, platform provider, and/or operator of the collective investment scheme.
It is the policy of Partners Wealth Management LLP and Partners Wealth Management Solutions Limited that charging structures will not influence the selection of execution venues or the order flow that follows as a result of the execution process. PWM will not discriminate between execution venues used to arrange the execution of client orders.
PWM will regularly monitor the effectiveness of its Best Execution Policy to identify and, where appropriate, correct any deficiencies. This includes reviewing the execution quality of third parties.
This review will be conducted at regular intervals or whenever a material change occurs that affects PWM’s ability to continue obtaining the best possible result for clients.
All relevant staff across both Partners Wealth Management LLP and Partners Wealth Management Solutions Limited are made aware of this policy to highlight and emphasise the importance of timely and effective execution in achieving the best outcomes for clients.
For further information about this policy or how PWM can help you build and protect your wealth, please contact us at info@partnerswealthmanagement.co.uk
For further information on how we can help you build and protect your wealth, please contact us.
