There is no perfect way to charge for lifetime financial advice. After deep thought we have concluded that we favour a 'percentage of assets' model (ad valorem). So the more money you have invested with us, the higher our fee will be. We can only help families who wish to be helped by us now.
We want to be as transparent as we can so we've tried to make our fee schedule as simple as possible and easy for you to understand.
STAGE 1- DISCOVERY MEETING
This meeting will be held at one of our offices. We will discuss your requirements, aspirations and plans. We will also see if we are right for you and also if you are right for us. After this meeting we then decide if we both wish to move to stage 2.
Fee: There is no cost for this meeting, it’s at our expense.
STAGE 2 – Creation of your financial master plan
DATA GATHERING & ANALYSIS
We will spend some time collating all of your financial data and discussing with you the options you have with all of your plans and policies. You will be required to provide a comprehensive list of the policies and investments you currently hold.
CREATION OF YOUR FINANCIAL MASTER PLAN
This is when the fun starts. We will spend some time crafting your Financial Master Plan. This will be an important document and will be the roadmap which we'll follow.
Here we will present to you your Financial Master Plan, like all of our meetings this will be a collaborative process. We'll also present to you 'what if' scenarios. This is where alternative creative financial strategies will be discussed.
Fee: this will be between £995-1995.00, depending on the complexity and work involved.
We will agree this fee with you before any work commences.
STAGE 3 - IMPLEMENTATION OF YOUR FINANCIAL master PLAN
This will frequently involve setting up new investment accounts and/or potentially transferring assets over to our portfolios.
Lump Sum Investments/transfers: Should you instruct us to proceed with any of our recommendations we charge a 0.5% implementation fee. Example, if you transferred or invested £300,000, the fee would be £1500.
Fees if you invest monthly: If you invest on a monthly basis into Collective investments (Individual Savings Accounts or Unit Trust) & Pensions there will not be a fee applied for doing this.
Fee: a 0.5% implementation fee for lump sum investments and transfers.
STAGE 4 - ONGOING COACHING, PLANNING & Investment counsellinG
This stage is by far the most important stage. Getting your financial house in order can take years. We will partner with you throughout your whole life, ensuring you behave your way to wealth and don't misbehave your way to poverty.
Fee: We charge 1% per annum of the assets we advise on (over £1 million the fee applied will be 0.5%). This is subject to a minimum annual fee of £1995.
Example 1: If we managed £750,000 the annual fee would be £7500.
Example 2: If we managed only £100,000, the fee would be £1,000., as this would be below our ongoing minimum fee an additional monthly direct debit for £995. split over 12 months to reach our minimum fee level of £1,995. would be set up.
Our fees - your peace of mind
We are very confident that the collective value of the following benefits will far exceed our annual fee, in that:
- The Financial Master Plan we create will save you 1% a year in time, energy, worry and record-keeping.
- Your long-term portfolio return will exceed by more than 1% per year the portfolio mix you might have chosen for yourself.
- We will save you more than 1% per year in the cost of mistakes we help you to not make.
If you already have any money invested (pensions, ISA's etc) you'll be paying annual fees, from experience most clients have no idea how much these are. Please find out what you're currently paying. Also if you currently don't pay for financial advice you don't have a clear strategy or anyone in your corner to ensure lifetime financial success. We work with people who understand the saying 'penny wise, pound foolish'.
AD HOC - ONE OFF PROJECTS
Occasionally there will be work that you need assistance with that is outside of our standard offering. If any projects are required we will inform you in writing of the proposed cost before any work is started. These projects will be substantially reduced for our ongoing clients.
LIFE INSURANCE - CRITICAL ILLNESS - INCOME PROTECTION - PROTECTION POLICIES SET UP
Life insurance and protection advice can either be covered by commission or our fixed cost of £495. We will quote both options to you. If you chose the commission route the monthly premiums will be higher, so it’s usually worth paying the fixed fee, however the final decision will be yours.
LONG TERM CARE ANNUITIES
We can assist you if you are receiving care in a care home. Our fee for this work is £495. to gather the required annuity quotations and prepare a financial plan for you. If a care annuity is set up we charge a fee of 3% of the purchase price (minus the £495). An example would be, £495 paid upfront, if the care annuity purchase price was £100k, this would be a fee of £3,000 (minus the £495), so the final fee would then reduce to £2505.
SERVICES THAT WERE NOT ANTICIPATED OR COMPLEX PROJECT WORK
If you need a service that we did not anticipate we will carry out this work for a price we agree with you before we provide the service. We will send you a separate invoice for these services. You must pay the bill within the timescale we agree with you. If you require assistance with a project we will quote for this work on a project fee, no work will be carried out until this is agreed by you.