Services and Fees
Our approach
You want to know what we do and what we charge, that's completely reasonable.
Before we get to this, we have a 3 point promise designed to give you confidence in our service and how we charge.
Now we've explained that, our planning and advice services and the associated fees work as follows.
Initial Meeting
This meeting costs you nothing. In this meeting we'll discuss your circumstances, how we can help, and what that might look like.
You'll come away from this meeting with a really good idea of whether we're the right people for you. Sometimes we are, sometimes we're not!
If we both agree that we think we can work together, then it's from this point on that we'll charge for the work we do.
It looks like this.
How it Works
We follow a three step journey to help you with whatever financial matters you need help with now. It looks like this. Every year we renew and review things, which is the fourth step.
Understand
👂We take the time to really get to know you. Your hopes, fears, plans and aspirations in life. We want to know where you are now and where you want to get to.
Plan
💻📝We then pull together all your financial information and build a visual financial roadmap, which shows where you are now and your projected future position.
Advise
🗣️Next we recommend how to maximise your current and future position and help you put this in place.
Review
👥Everything is done for now. We then get together again, usually a year later, to review where you're at, and recommend any tweaks to the plan if they're needed. Again, we'll help you make any changes required. This review process is an ongoing one each year.
What is the Value of Advice?
Research from one the largest global investment groups, Vanguard, has quantified the value of advice, through research of financial planners and their clients globally.
They found that on average, a financial planner will add around a 3% return to a client's wealth each year, through everything that they do for them.
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3% is huge when compounded year upon year, and half of this typical return is made up through behavioral coaching. Making sure you keep on track with your plan and making it work behind the scenes.
What Will it Cost?
Financial Plan
£500 - £1,950 as a fixed fee
We take half of this fee up front before starting work for you, and half after you receive your financial plan from us.
Where your situation is complex, or we need to model multiple scenarios, the fee may be higher. If this is the case, we will always discuss and agree this prior to commencing any work for you.
Implementation
1%
For investment and pension advice and implementation we charge 1% on the amount we advise on, and help you implement this as recommended.
£0
For advice and implementation on
lump-sum
top-up to existing investments
2%
For advice and implementation on regular contributions into savings or pensions for the first 5 years after set up.
For advice on:
-
Mortgages
-
Protection (insurance)
-
Private Medical Insurance
-
Equity Release
We will recommend you to trusted partners who are specialists in these areas of advice.
Ongoing Planning & Advice
We charge 0.8% of the amount invested as an ongoing financial planning fee.
This fee covers all of the services outlined above which you get to see and experience,
and lots more behind the scenes. This is our typical approach for those who have built their wealth and are wanting to make best use of it for retirement.
In some situations it is more appropriate to charge a fixed ongoing fee. If this is the case, we will explain this and agree a fixed fee with you.
A note on regulation:
The Financial Conduct Authority (FCA) does not regulate certain aspects of cashflow planning (your financial plan), estate planning, tax planning or trust advice.
It does however regulate all product and investment recommendations we make, which are the services outlined below.
"Of those who took financial advice last year, 88% said it represented good value for money."
LangCat Consultancy Research - May 2023
https://www.flipsnack.com/langcat/the-advice-gap-report-2023.html