Pilling & Co offer a comprehensive nominee service through our nominee company, St. Annís Square Nominees Limited (SASNL). With standard rolling settlement just 3 days it is impossible to guarantee meeting settlement deadlines without holding your investments in a nominee company.
To streamline your dealings with us even further we can open a cash deposit account for you. Any proceeds from sales or dividends go into your deposit account earning you interest straight away. When you purchase stock we settle the transaction out of your deposit account without having to bother you. Your money is not tied up, you have instant access and you can make withdrawals of capital as you wish. Income can be paid out direct to your bank on a quarterly basis. Your funds are held separately from our own in a trust status client account.
The benefits of holding stock in our Nominee company are:
minimum commission only £20
optional quarterly income payments direct to
six monthly on-line valuation and statement
interest on cash while you wait to invest
investment managed and discretionary
services also available
consolidated tax vouchers
SASNL is a completely separate legal entity from Pilling & Co. Your investments enjoy a trust status and do not form part of the assets of either St Annís Square Nominees Limited or Pilling & Co both of which are regularly inspected by our auditors Peter Howard & Co, and are authorised and regulated by The Financial
Conduct Authority (FCA). The activities of SASNL are not reportable transactions for Company Law purposes. Since it is a dormant company whose financial failure is impossible, the only feasible risk to your investment is from fraud or negligence in handling your assets. This remote risk is well covered by a firm contract between Pilling & Co, its clients and St. Annís Square Nominees Limited in which Pilling & Co always accepts liability for every aspect and activity of St Annís Square Nominees Limited.
To support this commitment we maintain voluntary financial risk insurance of up to £1.5 million per claim. In addition to this you may also have a right to claim from the government sponsored Financial Services Compensation Scheme (FSCS).
The maximum level of
compensation for claims against firms declared in default on or after 1
January 2010 is £50,000 per person per firm. The maximum level of
compensation for claims against firms declared in default before 1
January 2010 is 100% of the first £30,000 and 90% of the next £20,000 up
to £48,000 per person per firm.
For further information about our Nominee Service visit the links below.