The TEP Exchange
The TEP Exchange is a web-based exchange for Traded Endowment Policies. It is a completely independent exchange that facilitates trading for its member dealers. The TEP Exchange dealers are not allowed to deal directly with members of the public. To receive an instant valuation of your policy based on offers from Exchange dealers you are obliged to process your application through an independent financial advisor.
On-line process
Once you have submitted your details through our on-line service you will get the highest offer from the Exchange on your screen in MOMENTS. If you "accept" the offer we will contact you for completion. We will need full details of your policy from you very quickly in order to secure you the deal at the quoted price. Provided we receive full information, the process can be completed within 24 hours.
For this service we will charge a minimal commission of only 0.5% (subject only to a minimum fee of £100).
On-line auction process
If the policy does not receive an instant offer from any of the Exchange members we could submit your policy details to an on-line auction. This service involves us in monitoring the bidding process, reviewing the bids on your behalf and keeping you informed. If a bid is acceptable to you, we can accept the deal on your behalf. Provided we receive full details from you, this process can be completed within 48 hours from the time your policy details are submitted.
We will agree a level of commission with you before we submit your details to the on-line auction process.
E-mail auction process
If the on-line auction process does not provide you with a satisfactory bid your policy details could be e-mailed to 18 Exchange Dealers. These Dealers will contact us with a bid for your policy. We will monitor and keep you informed. This process could take up to 14 days.
We will agree a level of commission with you before we submit your details to the e-mail auction process.
