Fees
Stage 1:
Financial Planning
Fee: £2,900
What is included:
- Exploration of your personal goals
- Lifetime cashflow plan
- Risk profile analysis
- Exploration of different objectives and results on your cashflow plan
- Reviewing an existing policy (e.g. a pension plan)
- Highlighting any shortfalls
- Recommendations to improve your financial outlook linked to your goals
- A report to explain each part.
One policy review (the most expensive) is included in the £2,900 fee. We then charge an extra fee for additional reviews. We charge £150 for additional complexities such as a capital gains tax calculation. Please see the table for the costs involved:
Additional fees
| Type of Review | Fee |
|---|---|
| Pension review | £425 |
| Investment bond review | £425 |
| ISA review | £425 |
| GIA review | £425 |
| Protection policy review | included at no additional cost |
Stage 2:
Implementation
Fee: £150 per policy
We want to make life easy for you. We know that you are busy with work or juggling family life, so we will implement our recommendations. You can rely on us to do all the heavy lifting to get everything in place on your behalf.
We charge a flat fee of £350 for arranging an insurance product, in lieu we waive all potential commissions and your monthly premium will be lower as a result.
What we charge
| Type of policy | Fee |
|---|---|
| New policy recommendation | £150 |
| Old policy ceded | £150 |
Stage 3:
Ongoing service
Fee: £150 per month, plus additional charges
Once your plan has been implemented, the service we provide doesn’t end there. Things change in life, meaning we need to continue to review, manage and monitor our recommendations to ensure your plans stay on track and you achieve your life goals.
We charge a fixed fee of £150 per month for our ongoing service. In addition to this, we then charge £25 per month for each additional planning need. For example, these could be income planning, capital gains tax considerations, inheritance tax planning or calculations for those with pension values over the lifetime allowance. This would be agreed up front.
For an additional £720 per year clients can have an extra progress meeting.
What is included:
- One review per year with your financial planner
- A review of investment performance and markets
- A review of your attitude to risk and volatility
- An update of your financial and personal circumstances and objectives
- Changes to your plan, if required.
Examples:
Example 1
If you have 3 existing pensions (one current workplace) and one investment account with capital gains the fee would be: £2,900 + 2x£425 + £150 = £3,900. Implementation: If we switched all the non-current workplace pension policies, surrendered the investment account and invested the proceeds into a pension and ISA we would incur fees for existing policies being ceded of £150×3 = £450 plus new policy fees of £0 creating a total advice charge of £4,350
Example 2
If you have no current investments, but have a lump sum of cash to invest the fee will typically be just £2,900. Implementation: there would be no fees linked to ceding schemes, but there would be a £150 fee per new policy recommended. If this was just one new ISA for example, the overall advice fee would therefore be from £3,050
The value of advice
A 2017 report by Royal London and the International Longevity Centre showed that, on average, people who work with a financial adviser boost their assets by up to
£43,245.
A recent study by Vanguard identified seven key areas where advisers can add value, estimating values for each area. The total sum was discovered to be around
3% per annum.
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