Savings Products
Skipton Building Society - Intermediary Capital Protected Double Asset Bond
BDS AR’s have access to the Skipton Building Society Intermediary Capital Protected
Double Asset Bond on an information only basis. This service has been designed to
allow you to introduce customers to the society via a deposit product offering and
to gain a commission for doing so
Please note that your permissions as a BDS AR do NOT extend to investment advice
and therefore the extent of your services in relation to this product must consistent
purely of providing factual information in relation to the product only
Skipton Building Society Intermediary Capital Protected Double Asset Bond – Key
Product Characteristics
The bond is split into 2 parts, with 1 third of the clients capital invested in
a 1 year bond with a guaranteed interest rate and 2 thirds of the clients capital
invested into an index linked bond which allows a return of 100% of any growth dependent
on the performance of the FTSE 100 index over a 5 ½ year period
Capital Protected* means that as it’s a building society account, your client’s
capital will be repaid on maturity and is not at risk from market volatility – enabling
them to invest without the risk of investing directly in stocks and shares. However,
they could benefit from a return linked to the growth in the FTSE 100.
- The client can invest between £3000 and £250,000
- All monies are invested with Skipton Building Society
- Customer’s capital is not at risk*
- The investment tracks potential growth in FTSE 100 with no risk to capital*
- Additional investments are allowed until the bond becomes a closed issue
- Access up to 50% of the initial investment in the ‘1 year fixed rate bond’ element
of the account.
* Your clients money is protected in the same way as any other bank or building
society deposit. Skipton Building Society is a participant in the Financial Services
Compensation Scheme in the event of default. See Skipton’s General Investment Account
Terms and Conditions and www.fscs.org.uk for more details
For full details of the product go to www.skipton-intermediaries.co.uk
Sales Process
Sale of the Skipton Intermediary Capital Protected Double Asset Bond is on an information
only basis. If your client raises any questions as to the suitability of the product
then you must make a recommendation for them to seek advice from an IFA. You must
not give any opinion regarding the relative merits of the Skipton Building Society
Intermediary Captial Protected Double Asset Bond and in particular you must not
make any comparison with the clients existing arrangements or any alternative type
of investment. You must not provide any indication that you believe that the product
would be suitable for their circumstances.
All sales of the Skipton Double Asset Bond must adhere strictly to the processes
below. Before making your first sale you must review the sales process, Q & A document
and all Skipton product documentation www.skipton-intermediaries.co.uk.
This should then be recorded in your CPD log for review by your Field Compliance
Officer
Files:
Commission
2.75% of the initial investment will be paid following the expiry of the 14 day
cooling off period. Commission will be received within 1 month of the investment
Contact details
Skipton Service Centre – 0800 87 66 010
Find the details of your local Intermediary Sales Manager at www.skipton-intermediaries.co.uk
Please note – you are authorised to sell the Skipton Guaranteed
Investment Bond only – you are not currently authorised to sell bonds from any other
provider
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