DISCLOSURES

Introduction 

Financial services regulation in the UK means that we’re required to disclose certain information about how we approach remuneration for our team. 

We’ve set out below Cooper Parry Wealth Limited’s (the Firm’s) annual public disclosures as required under MIFIDPRU 8 for the year ending 30th April 2024. 

The Firm is focused on delivering independent financial planning advice and ongoing advice services to retail clients.  We focus on advising our clients on investments and pensions as part of a wider financial plan. The firm is part of the Cooper Parry Group that provides accountancy, tax, legal and tech services. 

Scope and application of disclosure 

These disclosures relate to Cooper Parry Wealth Limited. We’re a SNI MIFIDPRU Investment firm as at end of April 2024, authorised and regulated by the Financial Conduct Authority. 

Remuneration policy and practices 

Qualitative disclosures 

The remuneration policy sets out our approach with regards to the remuneration packages and incentive schemes within our firm. It’s reviewed on an annual basis by the compliance team and overseen by the Firm’s Leadership team. We seek guidance from our external compliance partners as appropriate. 

Our remuneration package and incentive schemes are designed to ensure that our clients are treated fairly, that conflicts of interest are considered, and the Consumer Duty outcomes are met for our clients. The policy promotes effective risk management with the longer-term interests of our clients and firm in mind.  We also aim to encourage a healthy and positive culture that attracts and retains the best team members. It applies to all individuals whose activities have an impact (directly or indirectly) on the investment services we provide.   

All staff receive a basic salary related to their role in the team. This forms the greater part of their remuneration. Performance is formally rated annually on the basis of our core values and completion of objectives with an interim review half-way through the year. 

Roles that include generating revenue (such as Relationship Managers) take part in a bonus scheme based on the advice fees earned in the first year from a new client. We also have a Cooper Parry Wealth staff referral incentive scheme that rewards employees who refer a client to the Firm with a bonus. This is also based on the advice fees earned from the client over their first year. The remunerations and referrals schemes are overseen and managed by the Firm’s Leadership team who are responsible for running the Firm. The Board of the Firm are made aware of decisions as part of the financial updates to the Board. 

In summary the majority of remuneration is fixed relating to salaries. The variable remuneration includes bonuses aligned to clients introduced and the Wealth staff incentive scheme. 

Quantitative disclosures 

As a SNI MIFIDPRU investment firm, we are required to disclose the total remuneration of all our staff split between fixed and variable remuneration for our performance year end which is also our financial year end. 

For our year ending 30th April 2024, our total remuneration (for the Firm including it’s subsidiaries) is split as follows: total fixed remuneration of £4,309,246 and total variable remuneration of £153,156.