Who are Taylor Patterson Wealth Management?

The Group offer a range of financial services and products and through Taylor Patterson Associates Ltd, provides its Wealth Management services. Taylor Patterson Associates Ltd has Chartered Financial Planner status.

What Services do you offer?

We offer an advisory service dealing mainly in collective investments or funds. The full service is provided under a Wealth Management Agreement and includes half yearly reports, tax and pension advice, regular monitoring of funds, recommendations and cash management.

We also offer an annual review facility for clients who do not require a complete service. This includes an annual valuation, market commentary and recommendations where appropriate.

What do you charge for your services?

The full Wealth Management service is primarily fee based with any initial commissions due to us on buying funds waived or used to reduce the fee where appropriate.

There is a set up charge of 1% based on the value of cash or investments introduced initially and on any subsequent sums added later. There is also an annual charge of 0.5% based on the value of investments at each reporting date.

We have negotiated substantial discounts on buying funds and they can be purchased in many cases at creation price. As we deal on a fund platform any switches are completed at 0.25% cost irrespective of the fund involved. These discounts are available for both levels of service

In some cases we receive trail commissions of up to 0.5% that we retain to assist paying for the service. Where we are carrying out an annual review service only, there are no explicit fees paid although commissions may be received when buying units.

What is a fund platform?

There are a number of fund supermarkets or platforms currently operating in the UK market. Our preferred platform is COFUNDS who are an independent fund supermarket. We have no financial interest in them and we review the whole market on a quarterly basis.

There are over 1000 funds to choose from and you can invest in them via a new ISA, an ISA or PEP transfer, a Unit Trust or OEIC fund and through re-registration.

They levy no extra charges and their services are paid out of fund manager fees.

The platform simply acts as an administrator making it more efficient to buy, sell and switch funds without the need to deal with the fund managers individually.

What is a Wrap?

This expression is used to describe a multitude of different products or services. It is essentially a facility enabling the whole of a client's investments including both personal and pensions to be treated under one service from both an advice and reporting perspective.

Fund platforms are an essential part of a 'Wrap' service and Taylor Patterson Wealth Management now provide 'Wrap' reporting to clients who have both pension and personal investments. The service can also include other members of the family and any 'trusts' that have been established.

How much money do you manage?

We manage in excess of £150 million on behalf of our clients and have a dedicated team of specialist advisers and administrators assisting the Investment Director in carrying out investment policy.

We have over 20 years experience in managing client investments and have particular expertise in the SIPP and SSAS markets.