Part 1: top five entities used for the transmission or placing of client orders
Where we send investment applications or orders on your behalf to third parties (for example, to buy or sell investment holdings), we make every effort to ensure the best possible result for our investors. This is referred to as best execution. We may transmit or place the order via a third party platform (an online investment administration service), directly with a fund manager or with a stockbroker, to execute your order.
We’re obliged to disclose on an annual basis the top five firms that we send our client orders to. The tables(s) below relate to the period 01/05/2018 to 30/04/2019.
For this type of investment, we only sent orders to 2 firms:
| Class of investment | Equities | |
| Notification if < 1 average trade per business day in the previous year | Yes |
| Top 5 venues ranked in terms of volume (descending order) | Proportion of volume transmitted as a percentage of total in that class | Proportion of orders transmitted as percentage of total in that class |
| RIA Capital Markets Limited (213800OZO2PQP43WCZ92) | 68.98% | 52.17% |
| Charles Stanley & Co Limited ( 213800R62RPGBBLQRT21) | 31.02% | 47.83% |
For this type of investment, we only sent orders to 2 firms:
| Class of investment | Exchange Traded Products | |
| Notification if < 1 average trade per business day in the previous year | Yes |
| Top 5 venues ranked in terms of volume (descending order) | Proportion of volume transmitted as a percentage of total in that class | Proportion of orders transmitted as percentage of total in that class |
| RIA Capital Markets Limited (213800OZO2PQP43WCZ92) | 51.23% | 29.63% |
| Charles Stanley & Co Limited ( 213800R62RPGBBLQRT21) | 48.77% | 70.37% |
| Class of investment | Other investments (includes collective investments) | |
| Notification if < 1 average trade per business day in the previous year | No |
Part 2: monitoring and review
- We operate in accordance with our best execution policy. Please ask, if you want to see a copy of our policy.
- Under the terms of our policy, we 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 for the execution of your orders.
- The third parties that we use, also have responsibilities in relation to best execution and client order handling. We undertake periodic monitoring to make sure that they continue to meet our requirements. This review is carried out at least annually or whenever a significant change occurs that we feel could affect our ability to continue to obtain the best possible results for our clients.
- The most important factors we consider when choosing a broker are price, costs, speed, likelihood of execution.
- There are no common ownerships or conflicts of interest with the brokers we work with.
- Halfway through the year we changed are main broker from Charles Stanley to RIA Capital Markets. The reason for this was that RIA’s costs were significantly lower.
