How we are paid

On receiving an enquiry we invite a prospective client to come to our offices for a preliminary meeting. The purpose of the meeting is firstly to establish whether we are able to assist with the prospective clients needs and objectives and secondly to discuss how we would be paid for our services should we be instructed to proceed. There is no charge for this preliminary meeting and no obligation on either side.

After the initial free consultation, we will agree with you whether you pay us a fee, whether we will be paid out of the cost of any financial product you buy (commission), or a combination of both. We will always tell you about any commission we earn, and it will be taken into account in working out our fee.

Previously, financial advisers could also be paid by way of commission based on a percentage of the premiums payable or sums invested. This is no longer allowed for investment-related products under regulatory changes introduced as part of the Retail Distribution Review, which took effect on 31 December 2012. We will now explain to you exactly how much our advice will cost and reach an agreement over how you will pay for it.

Fees will usually be based on time spent and evaluated at a rate per hour calculated to recover our costs. Fees can attract an additional VAT charge whereas commissions, under current legislation, do not.

Whether we take our remuneration by way of commission or fees will be a matter of discussion and agreement, and no charges for fees will be made without prior notification in writing.