18-Mar-20

Coronavirus - a message from Triple Point

Firstly, on behalf of all of us at Triple Point, we hope this message finds you, your colleagues, and families well. Triple Point is a relationship-based organisation and a people focused firm, and we care about the welfare of our clients and our staff.

We have been inspired by the stories we have heard about people helping out in their communities, and we are encouraging all our staff to take time to assist those who may need it where they live.

The purpose of this article is to inform you about the practicalities of continuing to do business with us during this period, and below is more information about:

1) Doing business with Triple Point

2) Processing investor applications

3) Payments and transfers

1) Doing business with Triple Point

We appreciate that we are extremely fortunate to have a high percentage of stable and recurring revenues. We are therefore opting to pay our suppliers ahead of schedule where we can and have carefully planned for the wellbeing and support of our staff.

Over the previous six weeks we have invested heavily in additional IT equipment to ensure that we can continue as normally as possible in the event that the office is inaccessible, including buying powerful backup servers, and laptops and monitors for staff to use at home.

We subsequently implemented a home working policy last week which we are pleased to say has demonstrated that we have been able to continue substantially as normal, with people working and communicating efficiently and securely.

We still have some people coming into the office (by choice) for example where they are able to walk in and avoid public transport.  Although in the end Monday’s new government advice didn’t further affect these arrangements, we have planned for the possibility that offices may be required to close altogether. Whilst we know we can continue to work as we are already, this could impact our receipt of physical applications and cheques – see below.

Our client operations and administration is all carried out in-house and we pride ourselves on providing a fast and efficient service on an ongoing basis - you can still contact (phone, mobile, email, social media) all our staff directly and personally as normal, and we can easily arrange remote video meetings and conference calls. 

2) Processing investor applications

All our products remain open for business as usual including our VCT, EIS, Estate Planning and Income Services.

Clearly at the moment electronic applications are easier to deal with more promptly than paper applications, and to this end:

  • We are accepting scanned applications for all our products which can be returned to applications@triplepoint.co.uk (we may contact you by telephone to confirm details for security purposes).
  • Investor confirmation of applications will continue to be sent out via email to the adviser and investor (except where they haven’t provided an email address).
  • We will continue to send confirmation of allotment letters via email to advisers. Investor communications will still go by post where possible. In the event it becomes impossible to post out letters we will email a copy to the investor where we can, and if we don’t have an email address we will ask advisers to pass this on to them.

Given the risk that offices in London may be required to close altogether, please can we ask you to default to using email and electronic applications where possible. If you have, or expect to send paper applications that will arrive with us after this Friday 20th March, please can you contact us so that we can make appropriate arrangements, which might include asking you to send them to a different address, for expedient processing.

Our investor reporting will continue to be by email to advisers, with paper copies by post to investors. We will keep this under review.

3) Payments and transfers

For the time being, while permitted, we have a skeleton staff in the office and can continue to receive and bank physical cheques. We have initiated mail redirects and other measures to allow this to continue should the office be required to be closed completely – however – we would encourage you to default to making electronic payments from now on.

Banks details for our regulated Client accounts are listed in all our product literature (or contact us if you need them, by phone rather than email for better security).

If you have recently, or still need to, send a physical cheque, please email your usual relationship manager so that we can look out for it and deal with it promptly (circumstances permitting).

If you have any questions or if you would like to arrange a conference call or video conference then please speak to your usual Triple Point Business Development Manager, call the sales line on 0207 201 8990, or email us at: contact@triplepoint.co.uk

As we go forward, we will try to keep you updated, and as ever, we welcome questions, suggestions and feedback at all times.

 

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