The charges that will apply to any investment which you make through Kuber are intended to be clear and simple.
First, you may be liable to pay fees to your financial adviser in relation to your investment through Kuber. If so, you may instruct Kuber to settle the fees due to your adviser from the money which you subscribe. Kuber will set aside an allocation sufficient to compensate your adviser for the cost of the advice (excluding VAT, if any, for which you remain responsible).
The basis upon which this payment is made will depend upon the instructions you provide on your Application Form. Initial adviser charges will be deducted from your investment before any money is transferred to the Administrator’s client account. Where you have agreed to pay your adviser an annual fee through Kuber, an amount sufficient to cover 4 years fees may be held back and not invested. If at the end of the 4 year period there have been no realisations we may not be able to continue to pay your adviser on your behalf and you will need to settle their account separately.
Please note that this arrangement only refers to advice from an adviser regulated by the Financial Conduct Authority and not to advice which you may seek from legal or taxation professionals etc.
Kuber will itself apply the following charges:
The services Kuber provides include ongoing custodianship, administration and monitoring of your investments. Kuber has negotiated fees with the EIS managers for taking responsibility of these services from them, which allows Kuber to keep the annual fees we charge you to a minimum.
Kuber has, where possible, negotiated reduced fees with EIS Managers to offset the costs associated with investing through Kuber. Generally this will mean that there is a minimal difference in cost between investing through Kuber and investing directly with the EIS Manager.
Where the Manager charges a fee directly to you this fee will be reduced. However, where the Manager charges a fee to the Investee Companies it will not be possible for this fee to be reduced. In these circumstances the Manager may arrange to rebate part of their fee received from the Investee Company to the client account for your benefit. This amount can then be used to purchase additional shares in subsequent investee companies.
In some instances, the manager may allocate you additional shares instead of cash rebates.
Please read Managers rebates page on our web site.
Manager fees are in addition and outlined in the Investment Guide on our Library section. VAT will be added where applicable.