9 Beck Gardens
Farnham
Surrey
GU9 0SE
Wednesday 19/04/06
Liverpool
LS3 9AB
Dear Sir
I attach copy correspondence from which my concerns will be evident.
APCIMS suggested I write to you; but I imagine my last shot will have to be the FSA Ombudsman.
Yours faithfully
J Wheater
Telephone 01252 710930 or sometimes 01698 745911
Mobile 07767 236659
john.wheater@gmail.com
Farnham
Surrey
GU9 0SE
Wednesday 19/04/06
APCIMS
114 Middlesex Street
London
E1 7JH
Dear Sir
Thank you for your letter of April 18th, signed by a ‘Kevin Sloane’.
I note that (unsurprisingly) you are “unable to comment…”. It seemed from your website that you were more of a trade association than a regulatory body – it was just that Rensburgs themselves suggested I contact you; this was perhaps part of the ‘professional manner’ to which you alluded.
I imagine your letter (attached) is simply a boilerplate response to a common query, since, although I told you of my correspondence with Rensburg, you suggest I contact them again.
There is no need at all to reply to this letter; I shall (without much hope) address my concerns to the FSA ‘Ombudsman’.
I had thought, in these supposedly more ‘open’ times, that the simple question of the reasonableness of fees would be openly answered by an appropriate regulatory body.
Yours faithfully
J Wheater
Telephone 01252 710930 or sometimes 01698 745911
Mobile 07767 236659
john.wheater@gmail.com
9 Beck Gardens
Farnham
Surrey
GU9 0SE
Tuesday 11/04/06
APCIMS
114 Middlesex Street
London
E1 7JH
Dear Sir
I understand from Rensburg Sheppards that you can offer a view on the reasonableness of charges made by portfolio managers.
I attach a copy of my first letter to them, which yielded no information. A second letter yielded your details.
I’m not sure from your website whether the service I require is in fact part of your remit, but I’d be glad if you could give a view, and perhaps some comparable charges from other firms.
The details of my concern are clear from the attached letter; I should be glad to wind up the settlement of my dead friend’s affairs in the knowledge that the apparently outrageous charges are in fact in line with best practice.
Yours faithfully
J Wheater
Telephone 01252 710930 or sometimes 01698 745911
Mobile 07767 236659
john.wheater@gmail.com
9 Beck Gardens
Farnham
Surrey
GU9 0SE
Friday 17/03/06
Rensburg Sheppards
2 Gresham St
London
EC2V 7QN
By recorded delivery.
Dear Sir
I note that the assets you were holding for Mr Foley have now been liquidated; I, the executor, have received the money, and the final statement from your Mr Rickets.
I wonder if you would be so kind as to check the charges that you have made for your services. These seem, to the simple layman, to be very high. Certainly, they are very high compared to the charges of my own broker. In view of this, I see it as my duty as executor (apart from my own interest as beneficiary) to ensure that the charges are appropriate.
The charges are made up roughly as follows
|
|
|
|
Prepare statement for probate |
£599.00 |
|
Approx 2% on each of 44 items |
£5,937.00 |
|
Fixed fee of £35 on most of the items |
£1,540.00 |
|
Total |
£8,076.00 |
|
|
|
I imagine you, like solicitors, have a professional body who will express a view on the appropriateness of fees. If so, would you please tell me who it is. Failing that, I suppose I could approach the FSA Ombudsman for a view.
Please be assured that I do not intend to question your professional integrity in any way; as explained above, I merely feel a verification is needed.
Yours faithfully
J Wheater
Telephone 01252 710930 or sometimes 01698 745911
Mobile 07767 236659
john.wheater@gmail.com