Q&A


Q: What protections do professional clients not get?
A: There are a few protections afforded to retail clients that professional clients don’t receive. Negative balance protections don’t apply to professional clients, who have an obligation to make additional payments if their account falls into a negative balance. We need to use clear language when talking to retail clients, but we can use more sophisticated language when talking to our professional clients. We may assume a level of knowledge and experience when assessing whether our products are appropriate for professional clients. We owe our clients a duty of best execution when executing orders. For professional clients we may prioritise other factors such as speed and likelihood of execution, if we determine they are equally or more important than overall price.
Q: What dose a 'financial instrument portfolio' include?
A: A ‘financial instrument portfolio’ includes:
Cash, Stock portfolios, Stocks and shares ISAs, Trading accounts、Mutual funds, SIPPs (excluding non-financial instruments) It does not include: Company pensions, Non-tradeable assets, Property.