Fee schedule for Private Client Advisory Services

SHARE:
Share on facebook
Share on twitter
Share on linkedin
Share on whatsapp
Share on email
Share on print

What will you have to pay for our services?

We always agree with our clients on the most appropriate method for us to be paid for our services. It is possible for our fees to be deducted from certain types of investment; where this option is available your adviser will discuss this with you and agree the right approach to meet your needs. 

We will discuss your payment options with you and answer any questions you may have. We will not charge you until we have agreed with you how we are to be paid. A fee agreement will be completed and signed by both parties to confirm this. We will tell you if you have to pay VAT.   Whether you ultimately buy a product via PSA or not, you will pay us an adviser charge for any service and advice provided. This is due on the completion of our work. You can choose how to pay the fee; either by settling an invoice or, if we proceed to transact a financial product, payment may be made by the provider who will normally be able to deduct the fee from the amount of your investment.

Initial Meeting

The initial meeting with your adviser is nearly always held at our expense and without any obligation. If this is not to be the case we will agree a fee with you in advance of an initial meeting.  Advice  We may charge you a fee for the acquisition and analysis of information, and the provision of a written report and recommendations, presented to you so you have the opportunity to ask any resulting questions.

Our advice fee, if there is one, will vary depending on the complexity of the work involved and the level of expertise required. In most cases the fee for provision of a report will be between £500 – £2,500. We will advise you of any fee required for advice in an engagement letter sent to you soon after the initial meeting but before carrying out any work on your behalf. Should you not wish to receive advice or services, no fee is required. 

Implementation / Initial Fees

In addition to any advice fee, we charge a transaction fee for arranging an agreed transaction. The transaction fee will vary depending on the type and complexity of the transaction.

If you select an on-going review service, we will also normally charge an annual fee based upon the value of investments under management, in line with the service level chosen. Details of which are further in this document. 

Fees will become payable upon confirmation that the transaction that you wish us to implement has been completed.  Examples of the initial charges are set out in the table below. 

Description Initial Charge

Arranging a lump sum contribution to an investment or pension style contract 3% of initial capital invested subject to a minimum charge of £1,000.

Arranging an Annuity 2% of the purchase price (Minimum £500) Arranging a regular premium investment or pension style contract 5% of all regular premiums, subject to a minimum initial charge of £500

For example a lump sum investment premium of £100,000 would have an initial implementation charge of 3% levied. In monetary terms this would equate to a total initial cost of £3,000.

A regular £200 per month premium would have an initial implementation charge of £120 per annum. Please note that regular premiums implementation is subject to a minimum fee, details of how we operate this is described later in this document.

There may be certain situations where it would be necessary for us to charge a transaction fee on a different basis than that in the schedule above. If this is the case, we will explain the reasons for this and confirm the charge in the engagement letter. 

If we arrange for you to effect a contract on which we receive commission or a provider-facilitated fee rather than a fee paid initially, and you subsequently cease to pay premiums on the policy so that we are obliged to refund remuneration that has been paid to us, we reserve the right for a period of four years to charge you the amount reclaimed by the provider who facilitated the fee. If we recommend to you any policy to which this paragraph applies, we will at the same time inform you in writing of the maximum amount of any such fee and of the latest time at which we would charge it. 

Non-Investment Insurance  For non-investment insurance policies, such as Permanent Health Insurance, Family Income Benefits, Private Medical Insurance, Term and Mortgage Protection Insurance and Critical Illness Insurance a commission may be payable by the provider. This is subject to a minimum transaction fee of £500. We will always disclose to you the precise amount of commission to be paid, in a personalised illustration, before you make an application. 

Home Finance (Mortgages)  We charge a fee of up to £250 for sourcing the mortgage, payable when we source the loan for you.   For intermediary mortgages we are normally also paid a procuration fee by the lender, based on a percentage of the loan amount. We will always disclose to you the precise amount of any such procuration fee before you make an application. 

Home Reversions, Lifetime Mortgages and Long Term Care  We typically charge a fee of £500 to provide you with an initial report. If you decide to proceed with the implementation of an agreed plan there will be a further fee, which will be discussed with you at the time. 

Hourly Fees

In some cases it may be appropriate to charge an hourly fee. Our typical hourly charges are: 

Director & Associate Director   £200 – £400 

Qualified Consultant    £150 – £300 

Administrative/Secretarial Support   £ 75  – £100

If we are to charge on an hourly basis, you may ask us for an estimate of how much in total we might charge. You may also ask us not to exceed a given amount without checking with you first.