Part 1: Top five entities used for the transmission or placing of investment orders
Tavistock Wealth do not deal directly with retail clients. Retail clients are recommended our service “discretionary managed model portfolio solutions” via financial intermediaries (Financial Advisers).
The Tavistock Wealth discretionary managed model portfolio service is currently available on 11 platforms. Therefore, all investment orders are sent to those platforms who in turn place the order in compliance with their own Best Execution policies. The platforms best execution policies can be sourced on their public websites. Information on platform availability can be found at the below link:
We are obliged to disclose on an annual basis the top five investment firms that we transmit our orders to. The tables below relate to the period 1st January 2018 to 31st December 2018.
Tavistock Wealth Ltd are also appointed as Investment Managers for the Acumen Open Ended Investment Company (OEIC) and sub funds. Best Execution is outsourced in this regard to Marlborough Fund Managers Ltd and therefore Tavistock Wealth do not execute orders but do transmit them. Marlborough Fund Managers Ltd.’s order execution report can be found at the below link:
Tavistock Wealth Ltd execute trades in the Foreign Exchange (FX) market. This is for settlement purposes (when trading non Sterling denominated securities) and for investment purposes (when hedging overseas currency exposure) via the use of forwards. Best Execution is outsourced in this regard to BNP Paribas and therefore Tavistock Wealth do not execute orders but do transmit them. BNP’s best execution policy can be found at the below link:
For the above type of investment, we only sent orders to one broker, therefore there are fewer than five brokers to report.
Part 2: Monitoring and Review
Tavistock Wealth Ltd have entered into contracts with our trading partners in order to provide our service. Due diligence is conducted by both parties to confirm acceptance of the roles to be carried out. Tavistock Wealth Ltd also have a best execution policy. Please ask, if you would like to view a copy of our policy. Under the terms of our policy, we regularly assess the appropriateness of our trading partners to ensure compliance.
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.
As clients are recommended our service via financial intermediaries all clients are classed as Retail clients.
Should you require any additional information please write to:
The Compliance Manager
Tavistock Wealth Limited
1 Bracknell Beeches
Old Bracknell Lane
Or alternatively email firstname.lastname@example.org
1st May 2019