How we are paid

On receiving an enquiry, we will arrange an initial meeting which can be at our offices, your home or your place of work. The purposes of the initial meeting are to establish whether we are able to assist with your needs and objectives and to discuss the fees for our services should we be instructed to proceed. There is no charge for this initial meeting and no obligation on either side.

After the initial consultation, we will agree with you how we will be paid for the services you instruct us to provide, both in terms of the amount or hourly rate and the timing of the payment, which could be upfront, when you invest, over time to provide a service to you, or a combination of these.

Previously, financial advisers could also be paid by way of commission based on a percentage of the premiums payable or sums invested. This is no longer allowed for investment-related products under regulatory changes introduced as part of the Retail Distribution Review, which took effect on 31 December 2012. We will now explain to you exactly how much our advice will cost and reach an agreement over how you will pay for it.

Fees will usually be calculated and based on time spent doing the work, the complexity of the work and the experience and qualifications of the adviser involved. Fees may be subject to VAT at the prevailing rate, depending upon the type of work undertaken.

The fees we charge will be a matter for discussion and agreement and no charges will be made without prior notification in writing.

Investments - Initial charges 

You can pay for our advised services on the basis of adviser charging, fees or a combination of the two. Our charges relating to new work e.g. client take-on, new investments and one-off reviews are as follows;

Financial review with a view to you becoming an ongoing client i.e. subscribing to an ongoing service. A maximum of 3% of any monies to be invested. This will be flexible dependent on the size of the monies to be invested and the amount of work involved.
For example, if you were to invest £100,000 our charge would be £3,000.
If you were to invest £20,000 our charge would be £600.
Financial Planning Report (one-off) A minimum charge of £750 (non-complex report). A typical charge for a more complex report would be approximately £1,000.
One-off transactional advice i.e. where you are not subscribing to an ongoing service. A maximum of 3% of any monies to be invested.  This will be flexible dependent on the size of the monies to be invested and the amount of work involved.
For example, if you were to invest £100,000 our charge would be £3,000.
If you were to invest £20,000 our charge would be £600.

Paying for our services

We will discuss your payment options with you and agree with you how we will be paid.
 
You can pay our adviser charges by cheque. We do not accept payments by cash. Our charges will become payable on completion of our work and should be settled within 28 business days. You will be provided with a receipt upon payment.  If paying by personal cheque the adviser charge can be based on an hourly rate if preferred (see rates under Protection) or an amount can be negotiated.
 
You may also pay our adviser charges via deductions from the financial product(s) that you might invest in, where the product /platform provider allows this. Please note that if you choose to pay by deduction from a financial product this will reduce the amount left for investment and may, depending on your circumstances, have other consequences. If you select this option we will discuss the implications of using this payment method with you prior to putting it in place.
 
If your investments are held on a platform you may choose to pay our adviser charges out of the funds held with the platform cash account (where the platform provider offers this facility). If this method is selected it is important that sufficient funds are maintained in the account to cover our adviser charges as and when they become payable. We will discuss the implications of using this payment option with you prior to putting it in place.     
 
Please note a minimum charge of £250 may be applied even if you choose not to invest in a product. We reserve the right to charge you for services provided prior to cancellation. 

Paying by instalments (regular premium contracts only)

Where you invest in a regular premium contract only e.g. where contributions are made on a monthly, quarterly or annual basis you can choose to pay your adviser charge in instalments (note that the option to pay in a single payment is still available). Our normal approach will be for the payment to be spread over a maximum of 24 months. Exact details will be confirmed in writing with you. Where you are investing in a product you can choose to have your adviser charge deducted from the product through instalments. Although you may pay nothing to us up front that does not mean that our service is free. You still pay us indirectly through deductions from the amount you pay into your product. These deductions will pay towards settling the adviser charge. These deductions could reduce the amount left for investment.
Where you have opted to pay our adviser charge by instalments these payments are linked to the on-going payment of agreed regular contributions into your plan (until the agreed adviser charge has been paid in full). In the event that the regular contributions to your plan are not maintained (until the agreed adviser charge has been paid in full) we reserve the right to request full payment of any outstanding balance of the charges for our services.

Mortgage Business 

Details of how we are remunerated for our mortgage services can be found in a separate mortgage initial disclosure document which will be given to you prior to undertaking work in this area. We will ask you to complete a mortgage agreement stating the amount of fee to be paid.

Ongoing services 

We can offer you two levels of ongoing service designed to provide periodic reviews to ensure that recommended products remain relevant to your circumstances. Details of what is included in each of these services are provided in our Client Services Proposition. Our charges relating to ongoing services are as follows;

Ongoing Service Ongoing Charges
Financial Planning Service This amount is flexible and is dependent on the size of the fund.
For example, if your fund was valued at £100,000 our charge would be £1,000 per annum.
If your fund was valued at £50,000 our charge would be £500 per annum.
Basic Financial Review Service A maximum of 0.5% per annum of the current fund value.
For example, if your fund was valued at £20,000 our charge would be £100 per annum.

Payments for the above services can be made either by direct debit or by deduction from your investment on a monthly, quarterly, six-monthly or annual basis. The service can be cancelled at any time by simply informing us in writing.

Our charge for setting up a regular premium investment plan is 30% of the first year’s premium subject to a minimum of £300 and a maximum of £500.  This amount is flexible.

Non-advised services 

You can pay for our non-advised services on the basis of commission or fee. We will tell you how we get paid and the amount before we carry out any business for you.

Protection business

You can pay for our advised protection services by fee, commission or a combination of these. In relation to non-investment protection contracts, if you wish us to work on a fee basis the fee will be based on an hourly rate basis subject to a minimum fee of £250. Any commission we receive from the provider can be used to offset this fee.  Any surplus will be refunded to you.
 
When we use or refer to hourly rate fees the current rates used are as follows;
 
Partner £200 per hour
Financial Adviser £150 per hour
Administrator £50 per hour
 
A typical example of the charge for a pure protection policy is as follows;
Estimated hours for each role (Partner, administrator) 2 x 2 hours
This would result in a fee of £500.  On the basis that the provider pays commission e.g. £200 then your fee would be £300.
 
In respect of any regular premium policy which we have arranged for you, should you subsequently cease to pay premiums on the policy and in consequence we are obliged to refund the commission that has been paid to us, we reserve the right to charge you a fee representing the amount we have to repay, for a period of up to four years after commencement of the policy. We will confirm the exact amount that will need to be repaid by you and the timescale over which it will need to be repaid in the suitability report we will send you when a recommendation is made. We will not charge any such fee if you exercise your right to cancel in accordance with any cancellation notice sent to you by the life insurance company.
 
The above hourly rates apply if you choose to pay by fee for investment advice.  Please note that the time spent on investment advice and research would normally be longer.
 
We will provide you with a personal and financial review prior to making our recommendation to you. Should you accept our recommendation we will arrange the implementation of this for you. The reasons for our recommendations will also be provided to you in a written suitability report.

  Basic Transactional Financial Planning Full Ongoing Financial Planning

Initial Planning Review

Review Meeting:
Face to Face


Charged at hourly rate

Annually Including: review of objectives, risk profile, investment strategy, portfolio rebalancing, tax changes & planning
Unlimited Telephone/email
Access to your Adviser
Unlimited access to support team
Portfolio Valuation
annually

6 monthly with market summary/assessment
Professional expertise embedded into investment process
Investment Process Default Multi Manager/Fund of Funds Pro-Active investing including access to Model Portfolio's, Discretionary Fund Managers, Ethical Investing, Commercial Property, Direct Shares & Gold.
Risk Profile Assessment Only at outset Reviewed and amended in line with changing circumstances and objectives
On-going Tax Planning Assistance
Charged at hourly rate

Including tax return completion if required. Capital Gains Tax reports provided (when required)
Guidance on Cash Deposit accounts
Charged at hourly rate
Liaison with accountant/solicitor (when required)
Charged at hourly rate
Estate Planning
Charged at hourly rate