Client Payment Terms

During our initial meeting we will provide the Guide to Our Services and Terms of Business documents which confirm what we do, how we do it and provide an indication of the typical costs for our advice and services.

Once your needs & objectives have been established we will discuss: –

  • If, and how we are able to help in terms of addressing these needs;
  • An outline of the work to be completed;
  • The costs involved; and
  • The options you may consider in order to pay for our advice.

This will be done verbally and, as we prefer to receive client instructions in writing, will include the issue of an ‘Agreement to Proceed’ – thereby avoiding any confusion or doubt.

Our Terms of Business provides a detailed explanation of your payment options (See Client Documents) and in summary we offer: –

  • For mortgage and protection advice – the option to pay by fees, commission or a combination of the two.
  • For investment and pension advice – the option to pay fees which are either fixed, or based on our published hourly rates and the actual time we take working on your behalf.

By way of further explanation: –

  • Fixed Fees are generally more appropriate when advising on investment & pension related products.
  • Hourly Rate Fees are generally preferred by clients requiring bespoke financial planning that is not necessarily product specific.  The hourly rates we use are detailed in our Terms of Business however on average we charge £110.00 per hour to complete a typical piece of work on this basis.
  • If On-Going Services are appropriate for you, then the annual reviews we offer are also based on fixed fees.
  • Any fees that we agree, may be collected from the products recommended, or paid by you directly.

How do we compare in the market?

Our experience is that the majority of adviser firms are still applying charges based on a percentage of the funds you are expected to invest, with the norm being an initial charge of 3% plus 0.5% to pay for on-going service.  We fundamentally disagree with this approach, believing it hasn’t changed from the old, and now out of-date commission model when insurance companies determined how much you would be charged!

When it comes to pricing for our services, we believe that: –

  • Quality comes at a price
  • Pricing needs to be reasonably profitable
  • Our fees should be transparent
  • Our approach should be unbiased & impartial
  • You should have flexible payment methods
  • Our fixed price approach is based on the time, expertise & the value experienced by our clients
  • Providing value for money is essential

What is absolutely clear is that

 none of our clients commit to any work or level of service

 without knowing specifically what they will pay and what they will get.

We won’t be the cheapest, but we will offer great value!

Get in touch 0151 328 5678

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