Independence of thought through transparent remuneration.
As independent planners, should a financial product be required we are able to select the most appropriate solution from across the market.
We believe this independence is to the benefit of our clients but of far greater importance is our independence of thought which derives from the fact that we are not solely remunerated through product sales. Whether our service is funded by separate fee, by commission or by a combination of the two will depend upon your preferences and what makes most practical sense. How our service is funded is largely unimportant, what is important is that we charge for the advice we provide whether this involves the sale of a product or not.
Fees
In some cases our advice is purely conceptual and does not lead to the implementation of any new financial arrangements. In these instances paying by fee is the only option. If you choose to pay our advise costs by separate fee and we recommend the implementation of a new product we will waive or rebate any commission that would be payable from the provider.
Commission
If you buy a financial product, it may be possible for us to receive a commission from the product provider. This commission is paid from the providers charges. These charges can reduce the amount left for investment. If you buy direct, the product charges could be the same as buying through an adviser, or they could be higher or lower, we will tell you how much the commission will be before you complete an investment, but you may ask for information earlier.
Combination of Fee’s and Commission
In some circumstances, in order to meet the full fee for our advice, we may also charge an additional fee on top of any commission we might receive. The fee will become payable on completion of our work. You may also ask us not to exceed a given amount without checking with you first.
Process
We will always provide you with a proposal before carrying out work to give you a
definite cost of our services. These cover four areas:-
- Our fact finding process maps out your financial position, including financial status, risk profile, budget and ambitions. With access to your existing arrangements we can more accurately assess your financial standing.
- We analyse your priorities and goals, explore ways to achieve them and give you a written or verbal overview of your needs.
- We develop short, medium and long term financial strategies, research and consider the products most suited to you and with your agreement implement the proposed plan.
- We regularly review your financial position.