This level of service is offered to clients who are new to financial planning
and wish to get their feet on the first rung of the financial planning
ladder. Clients in this category may have just left university and started
on their first step of their career, or maybe have become disillusioned
with the old way of buying financial products. Alternatively, it may appeal
to clients who want to sample the service.
In order to benefit from this service, clients agree to pay a modest
monthly fee of £40 plus VAT, which will remain at this level for
two years. After this time, this fee will be increased by the Retail Price
Index or, alternatively a new level of service could be chosen. There
is no minimum asset requirement, although income levels are likely to
be in excess of £25,000 per annum (£37,500 per couple).
For clients who enter at this level, the service includes the following:
- An initial meeting designed to create a picture of you, (and your
family, where applicable). At this meeting we will establish your life
goals, along with your current financial situation. We will also seek
to determine your attitude to life and investment risk and consider
what assumptions we will make when we draw up your financial plan.
- We will then prepare your financial plan, highlighting areas which
need attention. These could be:
- Contingency planning
- Investment planning and strategies
- Tax aspects (income tax planning)
- Planning for retirement
- Scenario profiling
- The final report will then be discussed with you at a second meeting,
or alternatively, sent to you and discussed with you via a telephone
conference. We will explain all our recommendations to you and give
our reasons for them. At this stage any last minute changes will be
addressed and incorporated into your plan.
- A potential further meeting to explain product literature, where
applicable
- Subject to your approval, we will then act as your agent to implement
your plan (or parts of it). Please note that additional fees are chargeable
if you wish us to execute any product purchase for you (See below)
- A quarterly news letter by e mail and access to our website.
- Access to a member of the Quest team during business hours for individual
support and help. Such help and access can be via telephone or e mail.
- An annual review meeting, not necessarily face to face, to discuss
and review your plan.
There may be occasions where you ask us to act for you for services
which are not included in the Classic service. In these circumstances
additional fees will be chargeable. In accordance with our beliefs and
values, we believe it total transparency and clarity when it comes to
our fees. We do not charge commission, either at initial stages or subsequently
as `trail’ commission. Our aim is to make a profit out of our business
but not pay massive bonuses and sales incentives. We get paid for what
we do not what we sell!
Our range of fees is as follows:
| Transaction |
Our
fees
% |
| Basic Investment transactions without advice |
0.5 |
| Basic Investment transactions with advice |
2.0 |
| Advising and/or arranging basic pensions |
2.0% |
| Offshore investments (with advice only) |
2.5% |
| Complex investment transactions with advice |
2.5% |
| Retirement Planning with advice (Income Drawdown, EPP) |
3.0% |
| Arranging pension transfers |
3.0% |
| Tax Planning (% of tax saved) |
3.0% |
| Completion of tax returns |
£125 |
| Financial Planning (outside of the service level you choose) |
£150 per hour |
| Administration, valuation and support |
£40 per hour |
In addition to the above, there may be situations where you wish us
to carry out specific projects for you, such as pension transfer review
and report or arranging a mortgage. These projects involve a great deal
of additional work and as such we must charge a flat fee for such work.
We will tell you before we start work so that you know exactly the level
of your obligation to us. Alternatively, you may also ask us not to exceed
a certain amount without checking with you first. |
