How we Charge for our Services
There are a number of different types of financial advice that you might ask us for. Our charging structure reflects the fact that you are paying for advice, rather than buying a product. So our charges are based on agreed fees where possible, rather than on commission paid by a product provider, since we believe this is fairer to you and more transparent. In fact, commission on most types of advice will be banned from 2013.
We will always agree with you up-front and in writing how we will charge you for our services, and the rate that we will charge.
As well as the type of advice, the way we charge will depend on whether you are a member of our "Red Rose Club". But as an example, if you were to ask us to advise on investing a sum of money and were a Red Rose Club member:
- Advice and Arrangement fee: 2.5% of sum advised on, plus
- Annual fee: 0.5% of annual valuation - to cover review of your investment
The standard fees for the above (for non-Red Rose Club members) would be - Advice/Arrangement: 3%, and Annual: 1%. Fees are negotiable for larger sums.
In other cases we may agree with you to charge a fixed project fee - for example to review your retirement plans and make recommendations.