We wrote to you to let you know we have completed a review regarding the shares you held in your wrap platform account.
These opportunities were a result of actions taken by publicly listed companies or entities.
Your shares were held in a wrap style platform under a custodial arrangement where the corporate actions were only sent to the platform administrator
This account had one of our financial advisers listed as a nominated representative and they were part of the Magnitude or Securitor network, or employed by us as a BT financial adviser
This account was open during the review period
If all of these applied to you, you may receive a letter or email from us.
In your letter, we identify where you might have missed opportunities to make a risk-free gain and we’re making a payment to you. We’re also writing to you if we didn’t identify any of these instances.
A corporate action happens when a publicly listed company (or entity) takes an action that affects their shares. It involves an offer that is potentially beneficial to their shareholders.
In our review, we identified a risk-free gain happened if you took investment actions which, with the benefit of hindsight, provided a profit (gain) with no risk. Not all corporate actions offer a risk-free gain.
The value of a missed opportunity is the estimated dollar value of the risk-free gain after we factor in prices, costs and any taxes.