Why SFS is different
Too often in the financial advisory industry, advisers initially offer a great service but fail to constantly monitor their clients’ investments. This can have a significant impact on the returns your portfolio achieves – potentially costing you thousands of pounds.
In keeping with the mutual ethos that SFS shares with its parent company, Skipton Building Society, Monitored Informed Investing (MII) has been developed to address common frustrations investors’ have with advisers.
For a minimum investment of £20,000 (per individual or couple), MII combines six collectively unique promises in support of an overall objective of delivering you above average returns over the medium to longer-term – with strong service offered throughout. A huge part of MII is that SFS will continually monitor your investments on your behalf, to measure if they are performing in line with expectations. You’ll receive regular reports to keep you updated with their performance, so you’re not left in the dark.
The six MII promises:
1. Individual Risk and Reward Assessment
SFS will firstly work with you to assess your Risk and Reward profile – so they only recommend investments that match your specific needs.
2. Performance Monitoring
The overall objective of MII is to invest your money into MII Core Funds that deliver above average returns over the medium to longer-term.
- If SFS believes your MII Core Funds should be switched to achieve this they will offer to do so at no extra charge.
- If SFS get it wrong and your MII Core Funds underperform over a period of time, they will reimburse the MII Ongoing Charge for as long as this poor performance continues or until they offer you a Fund Switch.
3. Minimise Tax
SFS will help you make the most of your annual ISA allowance; either by investing new funds at the start of the new tax year (April), or by transferring existing investments during the tax year into an ISA.
4. MII Quarterly and Annual Reports
SFS will write to your four times a year to keep you updated with all your MII Core Fund investments, including valuations and any actions they recommend you should take.
5. Online Access
In-between Quarterly Reports, you can access comprehensive online investment information whenever you require it.
6. Helping your Beneficiaries
If you die within three years of making an MII investment and are still an MII investor at that time, SFS will rebate to your beneficiaries, or registered charity of your choice, the MII Initial Charge they received when you invested.
Irrespective of when you pass away, if your beneficiaries choose to reinvest the proceeds of your MII investments with SFS, they will waive all the MII Initial Charges if they don’t require financial advice. If they’d prefer advice they will still only have to pay a discounted rate of 50% of the MII Initial Charge.
MII was originally launched in July 2009. As of 30 November 2011, over 21,000 clients are benefiting from the unique collection of promises.
Please note: The Funds available through Skipton Financial Services’ MII proposition are not like a bank or building society account as the value of these investments can rise and fall and your capital is at risk. Any SFS charges, initial and/or ongoing, will be disclosed to you in writing before you make a final decision.
The tax treatment of investments depends on your individual circumstances and may be subject to change in the future.
To find out more about Skipton Financial Services please call Skipton Direct on 0845 603 4735*† or visit your local branch.
"MII was developed after identifying common failings in the financial market place which we believe are grossly unfair on investors and which we want to put right. You deserve the highest standards of service and the reassurance of knowing your money is being carefully managed at all times, in a way that matches your specific needs."
Andrew Barker
Managing Director, Skipton Financial Services Limited
"Throughout Skipton Building Society’s long history, our members have remained at the heart of everything we do. Skipton Financial Services was founded over 20 years ago on our core values of mutuality. By investing in MII you can benefit from market-leading financial advice and outstanding service."
David Cutter
Group Chief Executive, Skipton Building Society
Authorised and regulated by the Financial Services Authority under registration number 100013, Skipton Financial Services Limited is a wholly owned subsidiary of Skipton Building Society