Client Agreement

 If you have a question or concern about any aspect of our services, please contact us at:

This agreement sets out our respective obligations and should be read in conjunction with the information in our Client Agreement (What We Do and How We Charge) document which has also been provided to you.

Useful Information About Our Services includes details of the protections available to you under UK financial services regulation. The services we have agreed to provide and the cost for those services are shown in the Services Agreed section.

Our Obligations

 Our Recommendations

  • Before providing advice, we will assess your needs, consider your financial objectives and assess your attitude to any risks that may be involved. If you don’t want to discuss a particular area of financial planning and that area should not form part of the advice given, we can exclude it, if you instruct us to do so. This might, of course, have a bearing on the advice that might have been given.
  • Before making any recommendations, we will carry out a suitability assessment so that we are able to act in your best interests.
  • We will confirm any recommendations we make in writing (our suitability report) along with details of any special risks that may be associated with the products or investment strategies we have recommended.
  • Mortgage recommendations – We will confirm to you in writing the basis of our recommendations (our suitability report). We will also provide you with a ‘Key Facts’ Illustration (KFI) or a European Standardised Information Sheet (ESIS) which is a personalised description of the costs and features of the mortgage/product that we are recommending.
  • You may ask us to provide you with additional KFIs or ESISs for any mortgage/product for which you are eligible.
  • Where we agree to provide you with a service that includes an ongoing review of the suitability of the investments we have recommended, we will carry out this review at least annually. To do this we will need to contact you to ensure the information we hold remains accurate. Following our review, we will issue a report confirming our discussions and, if relevant, our recommendations.
  • Please be aware that investments can fall, as well as rise, and that you may not get back the full amount invested. The price of investments we may recommend may depend on fluctuations in the financial markets, or other economic factors, which are outside our control. Past performance is not necessarily a guide to future performance.
  • Specific warnings relevant to the investments, investment strategies or other products we arrange are provided in the relevant product literature provided.
  • We may, where appropriate, recommend holding some, or all, of your investments with a Discretionary Fund Manager (DFM), a professional investment manager appointed to monitor your portfolio and make investment decisions on your behalf. In such cases, we will explain the respective responsibilities of ourselves and the DFM in relation to your investments.
  • We may take into account your expertise as a professional client when complying with the requirements to provide you with a general description of the nature and risks of particular transactions.
  • We are entitled to assume that in relation to the products, transactions and services for which you are categorised as a professional client, you have the necessary level of experience and knowledge to understand the risks involved, for the purposes of assessing suitability.
  • We are also entitled to assume that you are able to financially bear any investment risks consistent with your investment objectives.

 

Financial Crime

  • We are obliged to put in place controls to prevent our business from being used for money laundering and other forms of financial crime.
  • We will verify your identity before undertaking any business with you. To do this we may use electronic identity verification systems and we may conduct these checks from time to time throughout our relationship, not just at the beginning. The check may leave a ‘footprint’ on your credit file but it will not affect your credit rating.

 

Best Execution

  • Where we send investment applications on your behalf to third parties (e.g. to put an investment into force), we will take all sufficient steps to ensure that we obtain the best possible result for you. This is referred to as ‘best execution’.

 

Conflict of Interests

  • Although we will always try to act in your best interests there may be situations where we or one of our other clients has some form of interest in the business being transacted for you. If this happens or we become aware that our interests or those of one of our other client’s conflict with your own interests, we will write to you and ask for your consent before we carry out business for you. We will also let you know the steps we will take to make sure you are treated fairly.
  • We have a conflict of interest policy. If you want to see a copy of it, please ask us.

 

Communicating with You

  • Our normal ways of communicating with you are by telephone, post, e-mail, SMS text message or in person. Our communications will be in English.
  • We may ask you to confirm your instructions to us in writing as this helps to avoid any future misunderstandings.
  • Disclosure documents relevant to any recommendations made will be provided via email as standard procedure, however, if an email address is not available or you would prefer a paper copy please let us know and a physical document will be provided.

 

Recording Telephone Calls

We will not record telephone conversations.

Any request that relates to the conclusion of transactions or the reception, transmission or execution of client orders will only be accepted when provided in writing.

 

Services Offered as part of a Package

Where we offer services or products as part of a package, we will tell you whether it’s possible to buy the different components separately and, if relevant disclose the costs and charges of each component.

We will also tell you if the risks resulting from the package are likely to be different from the risks associated with the individual components and explain how (if relevant) the package modifies the investment risk.

 

Your Obligations

This section sets out your obligations in agreeing to receive our services.

Providing information about your circumstances

  • Our advice will be based on the information that you give, so it’s important that you provide us with accurate and up to date information when we request details about your circumstances and objectives. This will allow us to provide you with suitable advice. If the information you provide is inaccurate or if you limit the information provided this could affect the suitability of the advice we give.

 

Payment for services

  • By signing this agreement, you are agreeing to pay the charges for our services as set out in the Services Agreed section. Your selected payment method is also confirmed in section 5. We will tell you if any payments are subject to VAT.
  • Our initial charges are payable once we’ve completed our agreed work and must be settled within 28 business days.
  • If you are paying our initial charges by instalment (only applies when you have taken out a regular contribution contract) it is important that you make payments as agreed. Where you miss a payment, or cancel the contract from where the payments are coming from we will amalgamate a missed payment into the next month’s payment or on cancellation provide a full invoice for the outstanding amount.
  • In some limited circumstances (for protection planning business only) we may receive a commission payment from a product provider. Typically, the commission payment will be offset against the charges you owe us for our services. If the commission payment relates to a regular contribution policy and you stop paying premiums on that policy, we may be obliged to refund the commission received back to the policy provider. In such cases, we reserve the right to request the full payment of any outstanding balance of charges for our services.
  • Any products we have arranged for you will only be kept under review as part of an ongoing service for which you have agreed to pay. Our ongoing services are optional, but if you agree to purchase an ongoing service, unless otherwise agreed, the ongoing service will be provided as a follow up to the initial service.
  • The date when our charges for ongoing services will start will vary depending on the product/provider selected in our recommendations. Example: Ongoing charges taken through Fidelity Funds Network are paid monthly and will normally be made no later than the 10th of each month. However, the charge, frequency and commencement date will be disclosed prior to implementation of advice. Our direct charges are payable within 28 business days of the end of the relevant period.
  • Ongoing services can be cancelled at any time by informing us in writing (see Cancellation and Amendments) but please note that we do reserve the right to charge you for services we have provided before cancellation.
  • Where our charges are based on a percentage of your investments, the amount of our ongoing charges may increase as the size of your fund grows.

 

Legal and Accounting Advice

  • We are not qualified to provide legal or accounting advice or to prepare any legal or accounting documents. This means that the onus is on you to refer any point of law or accountancy that may arise during the course of discussions with us, to a solicitor or accountant.

 

Cancellation and Amendments

Ending this agreement

  • You or we may terminate this agreement at any time, without penalty.
  • Notice of termination must be given in writing and will take effect from the date of receipt.
  • Any transactions already initiated will be completed according to this agreement unless otherwise agreed in writing.
  • You will be liable to pay for any services we have provided before cancellation and any outstanding fees, if applicable.

Amendments

From time to time it may be necessary to amend the terms set out in this agreement where it’s not necessary to issue a new agreement. If this is the case, we will write to you with details of the changes at least 28 business days.

Product cancellation rights

  • Full details of any financial products we recommend to you will be provided in the relevant product information you will receive. This will include information about any product cancellation rights along with any other early termination rights and penalties.
  • Please note that there is no right to cancel a mortgage contract once the mortgage transaction has been concluded.

 

Useful Information About Our Services

 Who authorises us to advise you?

  • Willow Financial Solutions Ltd is an appointed representative of pi Financial Ltd, which is authorised and regulated by the Financial Conduct Authority (FCA), 25 The North Colonnade, Canary Wharf, London, E14 5HS. www.fca.org.uk. Our firm FCA reference number is 480490. pi Financial Ltd’ firm reference number is 186419.
  • Willow Financial Solutions Ltd is registered in England. Registered Address – 319a Uttoxeter Road, Blythe Bridge, Stoke-on-Trent, Staffordshire, ST11 9QA Registration number – 9837053.
  • pi Financial Ltd is registered in England. Registered Address – Morfe House, Belle Vue Road, Shrewsbury, SY3 7LU. Registration number – 03556277.
  • pi Financial Ltd’ permitted business is advising on and arranging pensions, savings and investment products, non-investment insurance contracts and mortgages.
  • You can check our details on the Financial Services Register by visiting the FCA’s website www.fca.org.uk/firms/systems-reporting/register or by contacting the FCA on 0800 111 6768.
  • Unless we tell you otherwise, we will treat you as a retail client for investment business. This means that you are given the highest level of protection available under the UK’s regulatory system.

 

What if things go wrong?

  • If you are unhappy with our advice or any aspect of our services, we encourage you to contact us as soon as possible. We will do our best to resolve your concerns.
    • Telephone: +44 (0) 1743 282222
    • Email: compliance@pifinancial.co.uk
    • In writing: write to The Compliance Director, pi Financial Ltd, Morfe House, Belle Vue Road, Shrewsbury, Shropshire, SY3 7LU
  • We have a complaints procedure and we can provide further details on request. If you do have a complaint, and you are not happy with our response, the Financial Ombudsman Service (FOS) may be able to help. The FOS settles disputes between financial services business and their clients. Full details are available at www.financial-ombudsman.org.uk.

 

Additional peace of mind

  • The Financial Services Compensation Scheme (FSCS) is the UK’s statutory compensation fund for customers of authorised financial services firms who are unable to pay claims against them, usually, because they have gone out of business.
  • You may be able to claim compensation from the FSCS if we can’t meet our obligations. The amount of compensation available will depend on the type of business and the circumstances of the claim. We can provide more specific information on request, but as a guide:
  • Investments – eligible claims for most types of investment business are covered for up to a maximum of £50,000.
  • Deposit compensation limit is £85,000.
  • Insurance – in the majority of cases, eligible claims about the advising and arranging of protection products are covered for 90% of the claim, without any upper limit.
  • Mortgages – advising and arranging is covered up to a maximum limit of £50,000.

 

 

Benefits we may receive

  • Under the rules of our regulator, the FCA, as a firm providing independent advice, we are unable to accept or retain payments or benefits from other firms (e.g. product providers) as this would conflict with our independent status.
  • From time to time we may attend training events funded and /or delivered by product providers, fund managers and investment platforms. These events are designed to enhance our knowledge and enhance the quality of service we provide to our clients. As such this doesn’t affect our obligation to act in your best interests. Please ask us if you want further details.

Appendix A – Protecting your Personal Information

  • To provide our services properly we will need to collect information about your personal and financial circumstances. We take your privacy seriously and will only use your personal information to deliver our services.
  • Processing of your personal data is necessary for the performance of our contract for services with you. Generally, this is the lawful basis on which we intend to rely for the processing of your data. (Please see the reference to special categories of data below). Our policy is to gather and process only that personal data which is necessary for us to conduct our services appropriately with you.
  • We adopt a transparent approach to the processing of your personal data. Sometimes, we may need to pass your personal information to other organisations. If you apply to take out a financial product or service, we will need to pass certain personal details to the product or service provider.
  • We may engage the services of third-party providers of professional services in order to enhance the service we provide to you. These parties may also need to process your personal data in the performance of their contract with us. Your personal information may be transferred electronically (e.g. by email or over the internet) and we, or any relevant third party, may contact you in future by what we believe to be the most appropriate means of communication at the time (e.g. telephone/ email /letter etc.).
  • The organisations to whom we may pass your details also have their own obligations to deal with your personal information appropriately. Sometimes a product or service may be administered from a country outside Europe. If this is the case, the firm must put a contract in place to ensure that your information is adequately protected.
  • As part of this agreement, we will ask you to consent to the transfer of personal information in accordance with the protections outlined above.
  • Special categories of personal data: there are certain categories of personal data that are sensitive by nature. The categories include: data revealing racial or ethnic origin, political opinions, religious or philosophical beliefs, trade union membership and data concerning health. Depending on the nature of the products and services that you engage us for we may need to obtain your sensitive personal data particularly in relation to health. Our policy is that should we require any special category of personal data we will only gather this with your explicit consent.
  • If you are concerned about any aspect of our privacy arrangements, please speak to us.
  • Our Privacy Notice will be issued with this Client Agreement.  This is a separate document which provides more information about the nature of our personal data processing activities and includes details of our retention and deletion policies as well as your rights of access to the personal information that we hold on you any time by notifying us at our main business address.

What We Do & How We Charge

We are a financial planning business, focused on helping you understand and plan for your financial future. This information is designed to give you an idea of:

  • What we do and how we do it (our services)
  • What it is likely to cost and how you can pay us

 

Our Services

 Whatever financial decisions you have to make, the first step towards making the right decisions is to establish a clear understanding of your financial needs.

People seek financial advice for many different reasons, so it’s important that we understand exactly who you are and what you want to achieve. At our first meeting we’ll gather information about you to help define your needs and priorities.

This document provides details about our services to you and how we charge, it’s important that you read it fully. If there is something you don’t understand please ask us to explain it.

Our services include:

  • Financial planning: It’s important to identify what you might want to achieve and how you can do this. We can help you to identify your goals and create a plan for your finances to help you achieve them.
  • Retirement planning: It’s important to know whether the money you are saving towards retirement will provide you with sufficient funds to meet your retirement objectives. We can work with you to proactively plan for your retirement and help you decide on the options available once at retirement.
  • Protection planning: Most of us want to protect the things that are important to us, our family, business and quality of life. Protection planning can help to provide peace of mind in the event of your income changing due to unexpected events. We can help you plan for the best way to protect you, your family or your business.
  • Mortgage advice: Whether you’re buying your first home, moving home or looking to re-mortgage, our mortgage services are designed to provide you with the best mortgage solution for your needs.

Our initial advice service can usually be broken down into two sections which are formed of the following components:

Section 1: Analysis and Recommendation

  • An initial meeting to find out more about you (we don’t charge for this initial meeting)
  • Agreeing your financial goals and objectives
  • Establishing your attitude to and understanding of risks (if applicable)
  • Reviewing your existing plans, investments and assets
  • Undertaking research to identify appropriate plans and solutions
  • Assessing the potential impact of key events on your plans
  • Providing a personalised report and recommendations
  • A face to face meeting (unless otherwise agreed) to discuss our recommendations

 

Section 2: Implementation

  • Compilation and preparation of necessary documents
  • Aid in completion of implementation forms
  • Forwarding of applications and supplementary documents to relevant companies
  • Referrals to a discretionary fund manager

We will only start work once we have agreed our services and charges with you. We will provide you with a copy of our Client Agreement (terms and conditions) which will set out the services we have agreed to provide and confirm how much this will cost.

 

Our Advice

Financial Planning

We offer independent investment advice. This means that we consider a wide range of financial strategies and products. We are constantly reviewing the market to ensure that the services and products we offer are appropriate for our clients.

Where we recommend particular investment strategies and products to you, these will be selected based on your personal circumstances, financial goals and objectives. We will consider a number of factors, including the services you need, the cost of investing, how much risk you are prepared to accept in an investment product and how much of a drop in its value you could withstand.

The areas we can advise on include:

  • Life assurance
  • Unit trusts
  • Investment bonds
  • Open ended investment companies
  • Pensions
  • ISAs
  • Annuities
  • Structured deposits
  • Phased retirement & income drawdown
  • Investment trusts
  • Long term care
  • Exchange traded funds
  • Term assurance
  • Enterprise investment schemes
  • Critical illness cover
  • Venture capital trusts
  • Income protection
·       IHT Plans

We don’t provide advice in relation to individual share holdings. If this is something you need assistance with, we can refer you to a stockbroker.

We don’t provide advice on options, futures and other derivative contracts as we believe that these are unlikely to be suitable for our clients.

Our services may also include advice on investments relating to Unregulated Collective Investment Schemes (UCIS). Accordingly, you should carefully consider whether such investments are suitable for you in light of your personal circumstances and the financial resources available to you. We will not arrange transactions to purchase UCIS.

Protection Planning

Non-investment protection contracts – we offer advice regarding non-investment protection products such as term assurance, income protection and critical illness from a range of insurers. We will provide you with advice and arrange the contract on your behalf after an assessment of your personal needs circumstances

General Insurance Contracts – we offer private medical insurance from a range of insurers. We will provide you with advice and arrange the contract on your behalf after we have assessed your demands and needs for a particular type of insurance

Mortgage Advice

We advise on mortgages for business and non-business purposes and first charge and second charge loans. We advise on a comprehensive range of mortgages from across the market, but not deals that you can only obtain by going direct to a lender. Our advice will be based on the most suitable mortgage product included within the range available to intermediary firms.

Alternative Finance Options

You should note that where we provide services in relation to increased borrowing on an existing mortgaged property there may be alternative options available to you that may be more appropriate. For example:

  • You may be able to obtain a further advance from your existing lender, or obtain an unsecured loan for the additional funds.
  • Where your existing mortgage is a first charge against the property, a second charge mortgage may be available and
  • Where your existing mortgage is a second charge a first charge loan may be available.

 

Our Charges

The way we are paid for our services will depend on the type of advice given. Typically, this will be:

  • Investment, Pension and Retirement Planning: fees agreed and paid by you
  • Protection Planning: fees agreed and paid by you or commission payable by the insurance provider, which is a percentage of the total annual premium
  • Mortgage Advice: fees paid by the lender and fees agreed and paid by you

More details on these options and how they are paid is found in the following sections on initial and ongoing charges.

Our charges fall into the following categories:

  1. Initial Charges: these are the upfront costs of our services. We offer several types of initial service depending on your needs.
  2. Ongoing Charges: once your financial plan is in place it is important to keep it under review, so it can be adapted where necessary, as your circumstances change. Our ongoing services are designed to do this.

Our actual charges and fees (in pounds and pence) will be agreed with you before we do any work and we’ll explain your payment options too. We’ll also let you know where any fees are subject to VAT.

Initial Charges 

Investment Planning – Initial Charges

Analysis & Recommendation Fee

  • An initial fee of 0.5% of the fund values, subject to a minimum fee of £560.
  • An additional fee of £280 will be levied for each additional existing plan requiring analysis.

Implementation Fee

  • An implementation fee of £280 will be charged should you wish to proceed with any recommendations made.
  • An additional fee of £140 will be levied for each additional existing plan involved in implementation.

Example

  1. Based on an investment from cash of £150,000 with no additional existing plans moving to implementation, the total cost would be £1,030. ((0.5% of £150,000 = £750) + £280).
  2. Based on an investment from cash of £50,000 plus an analysis of two existing plans valued at £50,000 each moving to implementation, the total cost will be £1,870. ((0.5% of £150,000 = £750) + (£280 x 2 plans = £560) + £280 + (£140 x 2 plans = £280))

 

Pension Planning – Initial Charges

Analysis & Recommendation Fee

  • An initial fee of 1% of the fund values, subject to a minimum fee of £750.
  • An additional fee of £280 will be levied for each additional existing plan requiring analysis.

Implementation Fee

  • An implementation fee of £280 will be charged should you wish to proceed with any recommendations made.
  • An additional fee of £140 will be levied for each additional existing plan involved in implementation.

Example

  1. Based on a pension contribution from cash of £40,000 with no additional existing plans moving to implementation, the total cost would be £1,030. ((1% of £40,000 = £400: Increase to minimum of £750) + £280).
  2. Based on an investment of £50,000 plus an analysis of two existing plans valued at £50,000 each moving to implementation, the total cost will be £2,620. ((1% of £150,000 = £1500) + (£280 x 2 plans = £560) + £280 + (£140 X 2 plans = £280))

 

Defined Benefit Pension Scheme Analysis – Initial Charges

Analysis & Recommendation Fee

  • An initial fee of 1.0% of the fund values, subject to a minimum fee of £2,520.
  • An additional fee of £500 will be levied for each additional existing plan requiring analysis.

Implementation Fee 

  • An implementation fee of £420 will be charged should you wish to proceed with any recommendations made.
  • An additional fee of £280 will be levied for each additional existing plan involved in implementation.

Example

  1. Based on an analysis of existing Defined Benefit Pension with a transfer value of £300,000, moving to implementation, the total cost will be £3,420. ((1.0% of £300,000 = £3,000) + £420)
  2. Based on an analysis of existing Defined Benefit Pensions x 2 with a transfer value of £300,000, moving to implementation, the total cost will be £4,200. ((1.0% of £300,000 = £3,000) + (£500 for addition plan) + £420 + (£280 for addition plan))

 

The Costs of our Mortgage Services

  • We charge a fee of £560 for providing advice and submitting your mortgage application. This fee becomes payable on completion of the mortgage or if you choose not to proceed with our advice an invoice with be provided at that time.

We will receive and retain a procuration fee (commission) from the lender when your mortgage completes, this amount varies from lender to lender. This amount will be confirmed by the lender in the key facts illustration or European Standardised Information Sheet (ESIS) you will receive in relation to your recommended mortgage.

Should you wish, you can request to view the commission rates from each of the lenders we have considered at the time that we make our recommendation to you.

Example

  1. Based on the arrangement of a mortgage loan of £400,000, moving to completion, there will be a £560 charge for a recommendation, on completion, a procuration fee of £1,200 (0.3%) would be payable by the mortgage lender. Therefore, the total cost will be £560 but the total payable to Willow Financial Solutions will be £1,760.
  2. Based on advice for a mortgage loan of £400,000 where the mortgage is not taken up, there will be a total cost of £560 for the recommendation.

  

The Costs of our Protection Services

You can pay for our advised protection services by fee, commission or a combination of these. In relation to non-investment protection contracts.

Our fee will be based on an hourly rate of £140, subject to a minimum fee of £700 (5 x £140) for Analysis, Recommendation and Implementation.

Where we are paid by commission we’ll tell you the amount before we carry out any business for you. Any commission we receive from the product provider can be used to offset the £700 fee.

Should the commission payable not cover our minimum fee of £700, an additional charge will be payable for the remainder.

Example

  1. If you set up a protection plan with a sum assured of £50,000 our fee would be a minimum of £7 If the commission payable is £500, we will charge an additional fee to you of £200.
  2. Based on the arrangement of Term Assurance Life Cover with a sum assured of £200,000, moving to implementation where the preference is to pay via direct fee. The work takes 9 hours to complete. At £140 per hour this would be a total fee of £1,260.

Based on the same arrangement but the preference is to pay via commission, the confirmed commission payable by the provider is £900. As this is over our minimum charge of £700, £900 will be the total payable. The monthly premiums however will be greater as the commission has been paid.

Note: paying via commission will increase the monthly premiums, if you wish to see a premium comparison with and without commission added prior to deciding how you wish to pay, please let us know.

In respect of any regular premium policy which we have arranged for you, should you subsequently cease to pay premiums on the policy and in consequence we are obliged to refund the commission that has been paid to us, we reserve the right to charge you a fee representing the amount we have to repay. We will confirm the exact amount that will need to be repaid by you and the timescale over which it will need to be repaid in the suitability report we will send you when a recommendation is made. We will not charge any such fee if you exercise your right to cancel in accordance with any cancellation notice sent to you by the life insurance company.

 

Payment for Services 

Following our initial discussion (for which there is no charge) should you decide to go ahead there is a cost for our services (as outlined above).

You can pay our adviser charges by cheque, standing order or direct debit instruction; such payments are to be made to: Willow Financial Solutions Ltd. We do not accept payments by cash and cannot accept payments made from a debit/credit card. Our charges will become payable on completion of our work and should be settled within 28 business days. You will be provided with a receipt upon payment.

You may also pay our adviser charges via deductions from the financial product(s) that you might invest in, where the product /platform provider allows this. Please note that if you choose to pay by deduction from a financial product this will reduce the amount left for investment and may, depending on your circumstances, have other consequences. If you select this option, we will discuss the implications of using this payment method with you prior to putting it in place.

If your investments are held on a platform you may choose to pay our adviser charges out of the funds held with the platform cash account (where the platform provider offers this facility). If this method is selected it is important that sufficient funds are maintained in the account to cover our adviser charges as and when they become payable. We will discuss the implications of using this payment option with you prior to putting it in place.

Please note a minimum charge may be applied even if you choose not to invest in a product. We reserve the right to charge you for services provided prior to cancellation.

 

Paying by instalments (regular premium contracts only)

If, as a result of our recommendations, you take out a regular contribution product where investments are made on a monthly, quarterly or annual basis), it may be possible to have our initial charges deducted from the product in instalments (where the provider is able to offer this facility). In such cases, our normal approach will be for the payment to be spread over a maximum of 12 months. Here’s an example to show how this could work based on a £200 per month policy:

  • The initial charge for our service £840
  • The monthly charge over 12 months is £840 divided by 12 = £70.
  • Each month you pay your product premium £200 but for the first 12 months your product provider pays us £70 of that initial premium.
  • For the first 12 months – £130 is invested / £70 pays our charge.

Where you are investing in a product you can choose to have your adviser charge deducted from the product through instalments (where the product / platform provider is able to offer this facility). Although you may pay nothing to us up front that does not mean that our service is free. You still pay us indirectly through deductions from the amount you pay into your product.

Where you have opted to pay our adviser charge by instalments these payments are linked to the on-going payment of agreed regular contributions into your plan (until the agreed adviser charge has been paid in full). In the event that the regular contributions to your plan are not maintained (until the agreed adviser charge has been paid in full) we reserve the right to request full payment of any outstanding balance of the charges for our services.

 

The Costs of Our Ongoing Services

Our ongoing services are optional. If you agree to purchase an ongoing service, unless otherwise agreed, the service will be provided as a follow up to the initial service.

We can offer you an ongoing service designed to provide periodic reviews to ensure that the recommended products remain relevant to your circumstances. This service will provide you with:

  • An annual review either by phone, correspondence or face to face meeting that will include a valuation, a review of asset allocation and fund selection and implementation of any agreed changes (e.g. fund switches)
  • Access to our client team who will respond and deal with ad hoc queries
  • Liaise with other professionals as required e.g. third parties such as solicitors and accountants
  • Maintain records

Our charges relating to ongoing services are based on a percentage of the portfolio to be monitored, as follows;

Cost of Service: 0.55% of the funds under management. This is subject to a minimum annual fee of £560. Should the 0.55% of the funds under management charge not cover our minimum, you will have the choice to either pay the difference or the fee in its entirety directly.

Example: Based on an investment value of £150,000 our annual service charge = £825

If you require more than one annual review in a 12-month period, an ad hoc fee of £280 will be payable per additional review.

Payments for the above services can be made either by quarterly fee (paid by standing order) or by deduction from your investment(s) on a monthly, quarterly, six-monthly or annual basis, where the product / platform provider is able to offer this facility. These deductions could reduce the amount left for investment and may, depending on your circumstances, have other consequences. If you select this option, we will discuss the implications of using this payment method with you prior to putting it in place.

Ongoing services can be cancelled at any time by simply informing us in writing. Please note that we reserve the right to charge you for services provided prior to cancellation.

 

Other Charges

Depending on the services we provide, there may be costs and charges (including taxes), not charged by us, but related to the financial products we arrange for you. These charges may be one-off charges (payable up front) or charges payable on an ongoing basis. For example:

Service Costs: If your investments are held on a platform (an online investment administration service) or held with a Discretionary Fund Manager (DFM), the platform provider / DFM will make a charge for administering / managing your investments.

Investment Costs: These are the costs relating to the manufacturing and managing of your investments – for example, fees charged by the investment fund manager, costs relating to investment transactions.

Mortgage Costs: There may be additional costs and charges related to the mortgage product we recommend. You’ll receive a Key Facts Illustration / European Standardised Information Sheet when considering a particular mortgage which will tell you about any fees relating to it.

If we charge you a fee but your mortgage does not go ahead, you will not receive a refund if we have carried out credit searches/research/ product options and sourced a suitable provider.

We will always disclose any third-party costs as part of making our recommendations.

Aggregated costs and charges

Before we provide you with our advice we will add together all the costs and charges payable so that you are able to understand the overall costs of our services and recommendations. This is referred to as aggregated costs and charges information.