How we are paid
On receiving an enquiry we will invite you to come to our offices for a preliminary meeting. Don’t worry if you can’t come to us, we are more than happy to visit you either at your home or workplace if appropriate. The purpose of the meeting is to establish whether we are able to assist you with meeting your financial needs and objectives. During this meeting we would lay out to you how we charge for our services, however, there is no charge for this preliminary meeting and no obligation on either side.
- Initial free of charge getting to know you meeting
The first meeting we have with you is always free of charge. It is at this meeting that we explain to you how we work and what we can do for you. We would at this stage also gather information about your circumstances so that we can offer the ongoing advice and recommendations. This is a no obligation meeting and is offered so that you can decide if you want us to act for you or not.
- Fee based advice – impartial and unbiased
Our service is offered on a fee basis. This allows us to be totally impartial and unbiased in the advice we give. The fees payable will depend upon the complexity of your situation and the amount of work we have to do in understanding your existing arrangements. All fees will be discussed and agreed with you in advance. There is normally an initial fee payable on any investments or pensions that we arrange for you. This would typically be between 1% – 3% depending upon the value to be invested and the type of investment involved. On most occasions this fee can be paid under the terms of the recommended product. Your financial adviser will provide more detail and discuss this with you when he meets you.
- Ongoing service
Additionally, an ongoing fee is payable. This is normally deducted from the value of the investments either monthly or yearly. The ongoing fee will depend on the service route you decide upon but will be between 0.5% p.a. and 1% p.a.
- Other commissions
From time to time we do receive commission from product providers for certain business types. This commission is paid to an IFA firm by a provider, usually an insurance company for the successful placing of business such as annuities and life assurance. The commission is included within the provider’s normal product charges, so there is nothing you need to pay us in addition. We will always tell you about any commission we earn and the costs involved for the products that we recommend.
No charges or fees will be made without prior notification in writing.