In line with UK and South African Government advice, all Credo staff are now working remotely.

We are doing our utmost to ensure that we maintain our high levels of service during this time, however, please take note of the following:


1. Post

  • Credo is now accepting post however in the first instance, please ensure an email with the relevant content is sent to us rather so we may action.

2. Contact Us

  • Staff are on hand to take your calls as normal. However, we suggest sending an email in the first instance.

3. Cash Receipts

  • Please send funds electronically to the details you will have received on the “Payment Details” attachment when the account was opened.
  • Any cheques must be posted to the Credo London office for the attention of the Operations team.

4. Cash Payments


5. ISA Transfers

  • Please email the completed ISA Transfer Form to clientservices@credogroup.com.
  • We shall work with our custodian to establish whether the counterparty will accept a digital copy. Where the counterparty will not accept a digital copy, we will request an original signed copy which should be posted to the Credo London office for the attention of Client Services.

6. US Tax Forms

  • Please arrange to complete and sign the electronic form located on the respective IRS website when applicable and email the form to clientservices@credogroup.com.
  • You can email clientservices@credogroup.com if you are unsure of the correct form to use.
  • We shall, however, accept scanned copies of the handwritten form until further notice. Please ensure to post the original in due course if they are not completed electronically.

7. Share Certificates

  • Please send a copy of the share certificate(s) to be dematerialised via email to transfers@credogroup.com.
  • We will then send you the appropriate transfer form for completion and signature which should be sent via post along with the original share certificate to Credo for the attention of the Transfers team.

Upon receipt we will then validate the paperwork and submit for processing or contact you if there are any issues.

Please note that due to the current situation this process may take longer than usual before the position is reflected in your portfolio and available for sale.


8. Trading

  • We are unable to accept market trade orders in securities that are not held electronically.

We will continue to monitor the situation as it evolves and will issue any further communications when applicable.

Updates

Whilst Credo continue to work remotely, we have been working with our custodians to identify solutions to re-introduce some processes and are pleased to advise that we are now able to accept physical share certificates for transfer into a Credo portfolio through the following process.


  • Please send a copy of the share certificate(s) to be dematerialised via email to transfers@credogroup.com.
  • We will then send you the appropriate transfer form for completion and signature which should be sent via post along with the original share certificate to Credo for the attention of the Transfers team.
  • Upon receipt we will then validate the paperwork and submit for processing or contact you if there are any issues.

Please note that due to the current situation this process may take longer than usual before the position is reflected in your portfolio and available for sale.


Additionally, Credo will now accept cheques which must be posted to the Credo London office for the attention of the Operations team.

In response to the coronavirus pandemic, many central banks, including the Bank of England in the UK and the Federal Reserve in the US, have cut their respective base rates significantly.


The impact of this, given that our primary custodian deduct a cash management fee, is that interest rates on client cash balances for the majority of major currencies are now negative.


For the latest rates on GBP and USD cash balances, please refer to: Cash Management & Interest Rates.


Please also speak to your Relationship Manager for applicable rates on other major currencies or if you wish to discuss cash alternatives.

Following guidance from the Financial Conduct Authority (FCA), with effect from 1st April 2020, Credo will implement the following changes to the MiFID II 10% Reporting process:


  • Retail Clients will continue to receive initial notifications for a reporting period (a calendar quarter). Subsequent depreciations in the same reporting period that would have previously resulted in a further notification will be suppressed.
  • All notifications for Professional Clients will cease.
  • We will continue to provide Financial Intermediaries with all their client notifications.

The above changes will remain in place until at least 1st October 2020, at which point the FCA will provide further guidance.


Should you wish to view your portfolio’s current holdings and/or performance, this can be done through the secure MyCredo online portal. Alternatively, please do not hesitate to contact Client Services or your Relationship Manager should you have any queries or concerns.


Credo will continue to publish updates regarding market conditions via Portfolio Pulse and our approach to the Coronavirus pandemic via our website.

With the escalation of the Coronavirus pandemic and in line with government advice in both the UK and South Africa, all Credo staff are now working remotely and as such our main and dealing telephone lines have been diverted to the appropriate teams. During this period we would appreciate it if you could use email as the primary method of communication unless you are calling someone on their direct line which are all on divert to their remote working telephone numbers. This will help us to deal with your queries in a more efficient and timely manner.


Please direct your emails to the appropriate team:


clientservices@credogroup.com

Account Opening, Payments*, Book Cost Updates, All other queries


dealers@credogroup.com

Trade Instructions, Special Instructions (Share Class Conversion, Bed & ISA)


mycredo-support@credogroup.com

System Access, Group Creation, Data Portal, Training

Credo is monitoring the Coronavirus COVID-19 outbreak and continue to consider any required revisions to our existing BCP plans in light of the direct threat and evolving implications to our clients, staff and suppliers.


The majority of our staff already has remote working capabilities and we have started a rolling cycle of working from home ahead of any travel limitations or restricted access to our offices. In addition, some functions may be supported from other offices, as appropriate.


We have already had communication with our key service suppliers who are generally taking the same approach as ourselves to ensure continuity of services.


We are taking a prudent and pragmatic approach to this threat and will extend any preventative measures as required.


During this period we will be minimising all but essential face to face meetings utilising telephone or video conferencing instead.


Any further updates will be published here. Watch this space.


Please do not hesitate to contact us should you have any queries.