Investec (IWI) Fee Payment Process

Overview of the Monthly Fee Process

Each month, PortfolioMetrix (Ops Team) performs a fee calculation process for all applicable share portfolio accounts on Investec. This process determines the fees payable to:

The fee calculation exercise is typically completed approximately two business days after the last Friday of each month.
Once all fees have been calculated, PMX prepares and submits an Excel fee schedule to Investec. This schedule details the exact fee amounts that need to be allocated to each adviser company.

What Happens After PMX Submits the Fee Schedule?

Following receipt of the fee schedule:

Investec processes the schedule and allocates the applicable fee amounts to each adviser company's fee account.
These fee accounts act as holding accounts for adviser fees.
The allocated funds remain in the holding account until the adviser company requests payment from Investec.
It is important to understand that the allocation of fees to the holding account does not automatically trigger payment to the adviser company.

Adviser Payment Requests

For adviser fees to be released:

To support the payment process, PMX (through the PRS Team) will provide each adviser company with a monthly fee schedule detailing the fees payable to them.
The adviser company should use this schedule when submitting a payment instruction directly to Investec. Once Investec receives the payment instruction, the allocated fees will be released from the adviser's Investec fee holding account and paid to the adviser company.
Investec will only release funds once a valid payment request has been received from the adviser.
PMX does not have the authority or capability to submit payment requests on behalf of adviser companies.
As a result, advisers are responsible for ensuring that payment instructions are submitted to Investec should they wish to receive their allocated fees.

Important: Adviser fees may remain in the Investec fee holding account indefinitely if no payment request is submitted.

This article serves as a guide to help everyone understand how the Investec (IWI) fee payment process works for the PMX Share Portfolio Accounts, the roles and responsibilities of each party involved, and how advisers can access their fee payments efficiently.