WPS Wealth Investment Committee
As part of our client service proposition WPS Wealth Ltd has established an internal investment committee. When you meet with a WPS Wealth Ltd adviser your attitude to risk, capacity for loss and timescales will be discussed. Your adviser will tailor advice to meet your specific needs and recommend a range of products and services based on the research completed.
The investment committee meets on a regular basis. The committee manages and reviews the funds recommended by the advisers in the firm. The committee also supports the paraplanning team to ensure funds recommended are still appropriate and are performing to an acceptable level. To do that our office-based team use a range of research tools to review existing funds against an appropriate benchmark.
The committee is typically made up of advisers, paraplanners and the relevant administration staff who all help formulate a company view on the myriads of products and services available to WPS Wealth as an independent firm. Each committee member completes individual research on a daily basis which can be fed back to the committee. All staff also meet with product providers and as new opportunities arise these can be discussed in an objective way.
The committees’ main responsibilities are as follows –
Setting investment policies
This includes maintaining a house view on attitude to risk, capacity for loss and asset allocation. These policies are kept under constant review and any changes in policy are discussed and agreed in open forum.
Regulatory Responsibility
As an authorised and regulated firm of independent financial advisers the committee ensures the research tools utilised are appropriate. The committee work with the firms internal and external compliance team to ensure research remains relevant and research outcomes are in line with the firms agreed investment policies.
Monitoring Investment Performance
As part of the firms ongoing service to clients the committee ensures funds under advice remain appropriate from a performance, risk and asset allocation point of view.
Specialist products and services
The committee is responsible for completing due diligence on current and new products and services. This includes assessing the potential risk of products and services recommended in an ever-changing world. Some products are unique in nature and require a higher level of scrutiny.
Reporting and Performance Indicators
The committee reports to the firm’s compliance officer who is responsible for the provision of management data. This is a key regulatory requirement. Individual key performance indicators also provide management data around the firm’s use of products and services, the spread of investments recommended and longer-term advice trends.
Communication and reporting
Any decisions agreed by the committee are reported to all staff members then integrated into the firm’s advice process.