How we are paid
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. This preliminary meeting is entirely at our expense.
In order for the meeting to be productive we require prospective clients to be prepared to disclose full details of their current financial position and discuss their aims and objectives.
At the conclusion of the meeting you should be in a position to decide whether to instruct us further.
We will then agree with you whether you pay us a fee or we are paid out of the cost of any financial product you buy (commission). We will always tell you about any commission we earn.
Commission is paid to an IFA firm by a provider, usually an insurance company or an investment house for the successful placing of business. The commission is included within the providers normal product charges, so there is nothing you need to pay us in addition. The amount of commission is based on a percentage of the premiums payable or sums invested.
Fees may be based on time spent and evaluated at a rate per hour depending on the level of expertise required. Alternatively, where possible we will agree a flat fee for the instructed work. We are prepared to work to a fee limit which will not be exceeded other than by prior agreement.
Whether we take our remuneration by way of commission or fees will be a matter of discussion and agreement, and no charges for fees will be made without prior notification in writing.