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 for our time, or we are paid by the product provider (commission). We will always tell you about any commission we might receive. You may opt to have any fees offet against initial commission.
Commission is paid to an IFA firm by a provider, usually an insurance company or an investment house for the successful placing of business. The commission is included within the providers' normal product charges, so there is nothing you need to pay us in addition. The amount of commission is based upon a percentage of the premiums payable or sums invested.
Fees will usually be based on time spent and evaluated at a rate per hour calculated to recover our costs.
If you ask us to arrange a mortgage for you we can be paid by either commission or a fee. If you choose to pay us a fee, our hourly rate is £180 with an estimate of 6 hours work for mortgages or an estimated £1,080.
Whether we receive 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.
Your home may be repossessed if you do not keep up repayments on your mortgage.