EXCITING CHANGES TO HOW WE MANAGE YOUR INVESTMENTS, YOUR QUESTIONS ANSWERED

This change will allow us to respond to market movements in a faster, and more granular way than we can do today, and this should help us create more value for you.

We will move away from our current model portfolio system, into two dedicated funds:

• Market Growth (focused on equities) and

• Market Defensive (focused on bonds), which TCFP will directly manage.

Each fund will hold around 20 carefully chosen investments. This allows us to be more precise with asset allocation than our current four-fund model. We will have more flexibility to make tactical adjustments and take advantage of opportunities as they arise.

Advances in technology and platform functionality now allow us to do this.

This is a natural evolution from our move to 'Discretionary Permissions’ in 2020.

This will make us nimbler, reduce admin, and give us more investment flexibility.

Your existing investments will be transferred into the two new funds mentioned above, but the way we manage your money, and your overall strategy will remain the same.

You will still be invested in a mix of equities, bonds and cash tailored to your needs.

• Who your accounts are with – Fidelity or Raymond James for most of you.

• Your financial plan and risk level.

• The same TCFP team you know and trust, will be managing your plan and investments.

• We will continue to oversee everything as we always have.

Costs will go up slightly (by around 0.35% – 0.45% pa), but we expect this to be more than offset by better performance and efficiency.
Here is how:

1. We can access institutional pricing.

2. The larger scale of the funds will help keep overall costs down.

3. Investment changes will not trigger capital gains tax, meaning fewer tax implications for you.

4. Our investment approach can be more responsive and nuanced.

We have partnered with Margetts, a company with a proven record in fund administration. They will oversee the day-to-day running of the funds, while we will continue to manage investment decisions.

We have a succession plan in place. Both Steve Williams (Cormorant Capital Strategies) and Scott Mordrick (Barras Capital Management) are ready and qualified to step in immediately if needed. We also have external backup advisers as an extra layer of security.

This change is designed to reduce risk by making us more agile and efficient. You will still be invested in a well-diversified portfolio and managed in a smarter way. Investor protections will be the same as they are now.

No. Your account providers will remain the same, it is only the investment approach within your accounts that will change.

Yes — the portal will continue to show the full value of your investments, including those managed within the new Margetts funds.

We understand change can be unsettling. If you still have concerns after reading the information we have shared, please contact us via the portal and we can set up a meeting with your financial planner.

Yes, many companies now do this, and the trend is clear - more will adopt these methods in time.

The current plan is for the switch to take place over the weekend of 26th - 29th September 2025, however there are factors could delay that - not least the many required FCA approvals.

We will do rigorous pre-switch testing, starting with staff and personal accounts to make sure everything runs smoothly.

Yes, but only very briefly.

As always, your Town Close team are ready and happy to discuss any aspects of this proposal with you at any time, so please do not hesitate to contact if you would like a chat.