No adviser should make you dig for their charges. Here is exactly how I am paid, what it would cost in real numbers, and what you are free to walk away from. Every fee is agreed with you in writing before any work begins.
Charged on the amount I advise on, tiered so the rate falls as the amount rises. This covers everything from the first fact-find through to research, the written recommendation and putting it in place.
| Amount advised on | Rate |
|---|---|
| The first £250,000 | 2% |
| £250,001 to £500,000 | 1% |
| £500,001 to £1,000,000 | 0.5% |
| Above £1,000,000 | 0.25% |
Regular contributions of this size fall below the tiered calculation.Charged at the £750 minimum
The whole amount sits inside the first tier.
£98,000 at 2%£1,960
£250,000 at 2% = £5,000
£250,000 at 1% = £2,500
£290,000 at 0.5% = £1,450£8,950, or 1.13% overall
Entirely optional. Plenty of people take advice once, put it in place and get on with their lives. If you do want me looking after the plan year after year, there are three levels.
Two things to say before the mechanics. First, when you pay. Then, the three routes the money can take.
The consultation, the fact-find, the research and the written recommendation are all done before you are charged anything. You see what I am suggesting, what it costs and why, and only then do you decide.
If I look at your situation and conclude you do not need advice, I will tell you, and that costs you nothing. If I recommend something and you decide not to go ahead, that costs you nothing either. The work up to that point is at my expense, not yours. I would rather earn the fee at the end by showing you it was worth it than take money from you at the start on the promise that it will be.
Whichever route you choose, you get the total cost, what it buys, how it was worked out and when it is due, in writing, before you decide.
The figures above are examples. What you actually pay depends on the complexity of your circumstances and the scope of work we agree. Your fee is confirmed with you in writing before any work starts, and it will not change afterwards without your agreement.
Work not tied to an investment. If you want something that does not involve arranging a product, we agree a fee for that piece of work before I begin it.
VAT. Advice that leads to arranging a product is normally exempt from VAT. Where VAT does apply to a piece of work, I will tell you before you commit.
The first conversation is free and there is nothing to sign.
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