How we are paid
On receiving an enquiry we invite you to arrange a mutually convenient appointment in the comfort of your own home, place of work or our offices for a preliminary meeting. The purpose of this meeting is firstly to establish whether we are able to assist with your needs and objectives and secondly whether you feel happy to appoint us as your advisers. This preliminary meeting is usually at our expense with no obligation to either party.
After the initial free consultation, we will agree with you the method of payment to complete the agreed work. We can either decide to proceed on a fee basis or commission basis. In some cases a combination of the two methods may be appropriate.
Commission is paid to an IFA firm by a provider, usually an insurance company or an investment house, for the successful placing and processing of business. The commission is included within the provider’s 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 and you will always be informed of the amount paid.
Fees are based on the complexity of the work to be completed, level of technical knowledge and experience required and the time spent in researching and recomending the most suitable option for your needs. We generally prefer to work on a fee basis as it is clear to both you and us what is being charged in relation to the work being undertaken. Any resulting commissions can be used to offset the agreed fee or enhanace the terms of recommended product.
Whether we take our remuneration by way of commission or fees will be a matter of discussion and agreement. No charges for fees will be made without prior notification in writing.