Since the start of 2013, all IFAs have moved onto a new way of charging for advice.
On most financial products (excepting life assurance, critical illness and income protection policies) commission has been abolished. What this means is that the level of payment is agreed between the adviser and the client rather than being dictated by the product provider.
How this works in practice is that after our free initial meeting, I will quote you a fixed fee for providing written advice in the form of a report. You might need more than one report depending on the areas where I feel advice is necessary.
Report fees vary depending on the amount of work involved. Initial report fees tend to range between £300 and £600. The cost will be agreed by you before we proceed with any work.
If any further work arises from my report, I will let you know how much it will cost to put my advice into practice. Any money that we receive for the work we have done (whether fees or commission) will be disclosed to you.
In many cases the fee can be deducted from your existing pension or investments rather than being paid by you directly. This includes any ongoing annual fees that you might have agreed to in order to get regular reviews of your pensions or investments.
The separation of "Sales" and "Advice" means that the advice that we provide will always be in YOUR best interests.