When providing advisory or discretionary management services, BIL may only recommend investment products corresponding to your investor profile to ensure a product is suitable for you. In other words, BIL must take into account your knowledge and experience as well as your financial situation. This includes your ability to bear losses, your investment objective and your level of risk tolerance. When providing investment advice, a suitability test will be carried out and BIL will provide you with a suitability statement before each transaction. This suitability test enables BIL to ensure that the risk level of your portfolio corresponds to your risk profile.
When the investment service provided is a service other than investment advice or portfolio management, BIL is required to carry out an appropriateness test in order to verify that you as a retail client have the necessary financial knowledge and experience to understand the risks involved in investing in a complex product. No appropriateness or suitability testing is required for execution only services, provided they concern non-complex financial instruments such as listed shares, non-structured UCITS shares as well as listed bonds and money-market instruments without embedded derivatives.
More information on BIL’s investment products can be found here
More information on the suitability reporting can be found here
The Best Execution principle
BIL ensures client orders are executed on the most favourable terms for our clients. The best execution venue is determined with regard to price, cost, speed, likelihood of execution and settlement, the size and type of the order, the nature of the client and any other consideration relevant to the execution of the order.
BIL has formalised its Order Execution Policy/Best Execution Policy, which all investors should read carefully.
Conflict of interest