We appreciate the personal and confidential nature of the information we are required to hold on your behalf. Alongside managing your investments with the utmost care, we take your personal privacy and the confidentiality of your data equally seriously. We are often asked about the steps we have taken to ensure our high standards are met, the core principles of which we have outlined below.

Should you have any questions about how we manage your accounts at Killik & Co please do not hesitate to get in touch by sending us an email or calling us at +44 (0) 20 7337 0400

How secure are your money and shares?

How are money and shares in my Killik account protected in the event of a Killik failure?

Killik & Co does not hold your money and shares itself, preferring to concentrate on what we are good at, which is advising on and managing client portfolios. Our activities are limited to acting as agent for our clients. We do not engage in riskier business such as principal trading, or in activities that could create conflicts of interest with our clients.  We give the task of holding client money and assets to a much larger custodian firm, called Platform Securities LLP.

To what extent are client assets protected from a Killik failure by the fact that they are held by Platform Securities LLP, the custodian? Or does this just mean that the risk event is transferred from Killik failure to a Platform Securities failure?

What risk there is lies in a possible failure of Platform Securities rather than in Killik & Co. However, a Platform Securities failure is highly unlikely and using them as our custodian serves to mitigate risk rather than simply transfer it.

Who are Platform Securities?

Platform Securities LLP is owned by FIS Global. With a long history deeply rooted in the financial services sector, FIS is the world’s largest global provider dedicated to banking and payments technologies and employs more than 53,000 people serving more than 20,000 institutions in over 130 countries and its technology powers billions of transactions annually that move over $9 trillion around the globe. FIS regularly tops the annual FinTech 100 list, is 425 on the Fortune 500 and is a member of Standard & Poor’s 500 Index. As of November 2017, FIS is rated at investment grade by Fitch, Standard & Poors and Moody’s. FIS is a listed company (NYSE: FIS) and has published accounts available at www.fisglobal.com.

How can I be confident in the financial strength of Killik & Co and Platform Securities?

We are regulated by the Financial Conduct Authority (FCA). As such, we are required to report full details of our capital on a quarterly basis to ensure that we are adequately funded to continue in business. We are capitalized far in excess of the regulatory requirement.

Every year Platform Securities is audited for financial strength, as well as compliance with the client money and asset rules. In addition, they go through a further annual audit of their systems and controls, resulting in an Assurance report on internal controls (AAF). Both external audits are conducted by major accountancy firms.

We also conduct our own annual review to check that Platform Securities have adequate procedures in place to ensure client money and assets are segregated and fully accounted for.

Where can I get more information about the financial strength of Killik & Co and Platform Securities?

Platform Securities is owned by FIS, which is a listed company (NYSE: FIS) and has published accounts available at www.fisglobal.com.  Both Killik & Co and Platform Securities are required by regulation to publish certain details of their capital requirements on an annual basis in what is termed a “Pillar 3” disclosure. The disclosures for both companies are freely available online.

Are Killik making any representations to the FCA and Government about restoring the protective ring fence around retail investor client money in light of the Beaufort Securities collapse?

We believe that by using a much larger custodian firm, we are providing a high level of protection for our clients.  However, we are as disturbed as all investors are by the revelation that Administrators can take ringfenced client money and assets to pay for their fees. We are pursuing this matter by means of our membership of the board of our industry body, PIMFA[1].

Our Client Portal

Killik & Co’s custom built Client Portal is designed to be a safe and secure online area for clients to view their accounts, make payments to Killik & Co and read their latest statements and notifications. It is also available as an App for both Apple and Android devices.

Who operates the Portal?

The portal was designed by us, Killik & Co, and is run on our behalf by MBA Systems, a division of Crealogix (CMBA). Crealogix are a Swiss Software company, with over 20 years’ experience in Financial Technology. They are listed on the Swiss stock exchange and work on behalf of some of the largest, most successful financial firms in the world, including; Coutts, UBS, Credit Suisse, Deutsche Bank and Zurich Insurers.

How is your data held?

CMBA Systems operate internally under a “trust no-one” approach, using a credential based system for separating client data. In practice this means that your data and the data of other Killik & Co clients is kept separately and securely.

CMBA’s data centre, where your data is held, has an extremely high level of protection, hence their status as an approved outsourced data centre for tier one banks, who demand the highest levels of protection. Their office in Winchester is located in a physically secure building and has 24/7 access and environmental monitoring. CMBA conduct regular security (penetration) tests of their infrastructure and utilise a wide range of security products to identify and block unauthorised access to their network.

They store your password and PIN information separately from the rest of your data. At Killik & Co we are never given access to the actual password, but our Technical Support Team can help you reset it if you run into any issues.

What is the Management Track Record?

CMBA Systems have worked with us since the launch of our first portal, MyKIllik, in 2011 and are familiar with both our systems and our commitment to our clients. We chose to partner with CMBA based on their technical capabilities, security and reliability, which they have demonstrated consistently to a large number of clients across the financial services industry. This ensures that our clients’ data is held in a highly regulated and monitored manner.

Killik & Co’s Technology team meets regularly with the CMBA team to review their process and ensure continuous improvements are made.

We are investing significantly in the portal as it will become a major channel of communication and engagement with our clients. Therefore we must make your security and peace of mind our priority and CMBA enable us to do this.

 

[1] The Personal Investment Management and Financial Advice Association (PIMFA) is the UK’s leading trade association for firms that provide investment management and financial advice to everyone from individuals and families to charities, pension funds, trusts and companies. PIMFA engages with and lobbies policymakers to develop an appropriate regulatory framework.