Refer your clients to Flagstone’s cash deposit platform. Following your referral, you will have read-only access to your client's portfolio giving you oversight of their investments. You will need your client’s consent before you share their information with us.
You will receive 15% commission from all your referred clients’ annual management fees. Commission is paid in January, in arrears.
The minimum amount required to open a Flagstone account is currently £50,000 for individual and joint applicants, and £250k for companies, charities and trusts. Dependent upon the value of the deposit and whether you are an individual, looking to open a joint account, or acting on behalf of a company charity, trust, SIPP or SSAS; different banks, accounts and rates will be available to you on the platform. The number of accounts available to clients may also be reduced dependent upon their domicile, residency and other factors. Where eligible, deposits placed using the Flagstone platform benefit from the same FSCS protection per UK authorised bank as if the deposit was placed directly with the bank.
Your clients' UK cash deposits are eligible for FSCS protection.
All UK based banks and building societies on our platform are members of the Financial Service Compensation Scheme (FSCS).
In the event that one of the UK based banks and building societies on the platform were to go into administration then our client (if eligible) would have a single claim under the FSCS limited to the deposit compensation limit of £85,000 per depositor (£170,000 for joint accounts) per UK bank.
The FSCS protects certain qualifying temporary high balances up to £1 million for six months from when the amount was first deposited.
You do not need to do anything – the FSCS will compensate you automatically.