On receiving an enquiry we invite a prospective client to come to our offices for a preliminary meeting. The purpose of the meeting is firstly to establish whether we are able to assist with the prospective clients needs and objectives and secondly to discuss how we would be paid for our services should we be instructed to proceed. There is no charge for this preliminary meeting and no obligation on either side.
After the initial free consultation, we will agree with you whether you pay us a fee, or by adviser charging. For some products such as life insurances we will receive commission, while adviser charging applies to pension and investment products. We will always tell you about any adviser charges or commission we earn and they will be taken into account when working out any additional fees that may be due.
Adviser charges and commissions are paid to an IFA firm by a provider, usually an insurance company or an investment house for the successful placing of business.
Commission is included within the provider’s normal product charges based on the premiums payable. Adviser charges can be either based on a percentage of the amount that you invest or be a fixed amount and are deducted from your investment.
Fees will usually be based on time spent and evaluated at a rate per hour calculated to recover our costs. Our charge for a financial review and recommendation is a fixed fee of £500 payable when we give you your report containing our recommendations to you. This fee will be waived wholly or in part should you decide to go ahead with any of our recommendations.
Whether we take our remuneration by way of adviser charging or fee or a commission is payable for the product you buy, will be a matter of discussion and agreement and no charges for fees will be made without giving you prior warning.
Your home may be repossessed if you do not keep up repayments on your mortgage.