The way we are paid for our services may depend on the type of advice given and will be discussed during the initial meeting.
Typically this will be :
- Investment Business: Fees agreed paid by you
- Insurance Business: fees agreed and paid by you or commission payable by the insurance provider, which is a percentage of the total annual premium.
More details on these options and how they are paid are found in the following sections on initial and ongoing charges. Our charges fall into three categories:
- Initial Charges: These are upfront costs of our services. We offer several types of initial service depending on your needs.
- Ongoing Charges: Once your financial plan is in place it is important to keep it under review so it can be adapted, where necessary, as your circumstances change. Our ongoing services are designed to do this.
- Other Charges: It is possible that there may be additional costs and charges (including taxes) related to the business we arrange. We will tell you at the outset if this is the case.
The Initial Charge Includes
Financial Planning and Retirement
- An initial meeting to find out more about you (We do not charge for this initial meeting).
- Agreeing your financial goals and objectives.
- Establishing your attitude towards and understanding risks.
- Reviewing your current plans, investments, and assets.
- Undertaking research to identify appropriate plans and solutions
- Assessing the potential impact of key events on your plans (cash flow modelling) where applicable.
- Providing a personalized report and recommendations.
- A face to face meeting to discuss our recommendations.
- Implementation of agreed recommendations.
- As above for the financial planning or retirement planning services, but with a focus on protection planning.
The Ongoing Charge Includes
- We will monitor performance, if changes need to be made, I will recommend fund switches.
- We will keep up to date with any changes to your personal circumstances/health.
- We will review your attitude to risk and ensure your portfolio is in line with this.
- We will keep you informed of any legislative changes that may affect you.
- When you come to take pension benefits, we will ensure this is done in the most tax-efficient way possible to minimise the tax you pay.
- We will advise you on Lifetime Allowance issues.
- We will carry out cashflow forecasting to give you an idea of the various scenarios that may arise in the future.
- We will deal with any pension / financial planning queries that you have throughout the year.