My WealthPartner Walled Garden

Compliant investing

A Walled Garden contains a portfolio of pre-approved investments from which you can choose to invest in. This service is available to Partners who need to maintain their investments within PwC’s independence rules.

Pre-approved

The portfolio of investments held in our Walled Garden have been pre-approved by PwC and are centrally monitored by the PwC Independence team to ensure they remain compliant with PwC’s independence requirements.

Peace of mind

Using this investment service will ensure that your investments selected from the Walled Garden will be compliant with your independence rules, allowing you to invest with confidence.

Service benefits

Discretionary investment solution to fit your circumstances and needs whilst also meeting your independence requirements
Ongoing active investment management maintained within PwC’s independence rules
Significantly reduced risk of independence breaches and reporting errors
Peace of mind that proposed investments have been pre-approved and are centrally monitored
Removes the need for investment pre-clearance
Simplified Checkpoint recording - individual holdings within the Walled Garden are not required to be reported in Checkpoint
Simpler PICT testing and annual Checkpoint reconciliations
Though pre-approved, it’s important to note that these investments will still go up and down in value and put your money at risk.

Though pre-approved, it’s important to note that these investments will still go up and down in value and put your money at risk.

The Walled Garden service provides PwC Partners with a simple and efficient investment solution that provides independence peace of mind and effortless compliance reporting.

Fees and charges

There is a minimum investment level to access this service of £500,000.

The fees will depend on the investment level within your portfolio. The fees agreed for PwC Partners are as follows:

Amount invested with Close Brothers	My WealthPartner Walled Garden annual charge	Close Brothers standard investment management annual charge
£500,000 - £1,000,000	0.90%	1%
£1,000,001 - £2,000,000	0.80%	1%
£2,000,001+	0.70%	1%

As part of the My WealthPartner service, which is not available to other Close Brothers clients, there is also a cap on fees if you take advice, custody and investment services from Close Brothers. This cap is shown in the table below and applies to the ongoing advice fee, annual investment management charge and the custody and administration charges.

There can be additional costs for investment management in addition to the annual management charge, and the total cost will vary depending on which investments are used. Please note that VAT has to be charged for investment management and advice on discretionary managed portfolios. Full details of all charges will be discussed with you and set out in a comprehensive report before you take up any of our services.

Amount invested with Close Brothers	Integrated wealth management fee cap (annual charge)
£0 - £500,000	1.20%
£500,001 - £1,000,000	1.20%
£1,000,001 - £2,000,000	1.10%
£2,000,0001+	0.90%

Accessing this service

Partners can access this service in two ways: via the Advice service, where investing into the Walled Garden will be part or all of the recommended investment solution; and directly through our managed portfolio investment team, suitable for when you want an investment solution but don’t wish to take financial advice.