I am writing to you in your capacity as Executor to the estate of to let you know about a change to the ownership structure of our business. This doesn’t affect any work that we are doing for
you, but it does mean that the company providing these services has changed.
In August last year Chesterton House Ltd acquired the whole of the issued share capital of Woodgate Financial Planning Ltd (WFP). Our two businesses, Chesterton House Financial Planning Ltd (CHFP) and WFP have run in parallel for many years, based on identical systems and procedures and sharing common administration staff and central functions.
As from 1st September 2024 we plan to merge the two businesses. At present CHFP Ltd is directly authorised to conduct investment business by the Financial Conduct Authority, and WFP is regulated as an Appointed Representative of CHFP. This arrangement is quite cumbersome and it makes sense to review it. We would also like to avoid the duplication of work involved in accounting for two separate businesses, including requiring two sets of accounts and reporting, two separate payroll systems, and two sets of agreements with the product providers and suppliers with whom we deal.
We will continue to retain the Woodgate brand, staff and systems that you are used to, and for all practical purposes you won’t see any difference in the service that you receive from us. However as from that date you will see that the regulatory statement that appears on our stationery will change to confirm that Woodgate Financial Planning is a trading name of Chesterton House Financial Planning Ltd, which is authorised and regulated by the Financial Conduct Authority. At the same time, existing WFP employment contracts will be transferred to CHFP Ltd, and our bank accounts will be merged. It will take some time for this process to be completed in full, and there may be some other minor points that also change as the merger takes effect.
We have continued to work with Moss Solicitors in relation to the provision of financial services to clients of Moss and this arrangement will continue.
To further explain the changes we have created a page on our website with more details, and if you have any questions this will help to answer them. You can find it at www.woodgatefp.co.uk/merger.
If you have any other questions about these changes, or about the new Terms, please speak to your usual contact, or you can email me at andy.jervis@chestertonhouse.co.uk and I will respond to you personally. As always, our first consideration is the quality and continuity of the service you receive from us, and we have planned carefully to avoid any unnecessary disruption.
I look forward to continuing to work with you for many years to come.
Yours sincerely
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