How we are paid
After the initial free consultation, we will agree with you whether you pay us a fee or we are paid out of the cost of any financial product you buy (commission). We will always tell you about any commission we earn. We will inform you as to our rate for fee based advice.
Commission
Commission is paid to an Independent Financial Adviser firm by a provider, usually an insurance company or an investment house for the successful placing of business. The commission is included within the provider’s normal product charges, so there is nothing you need to pay us in addition. The amount of commission is based on a percentage of the premiums payable or sums invested.
Fees
Fees will usually be based on time spent and evaluated at a rate per hour calculated to recover our costs. Fees attract an additional VAT charge whereas commissions, under current legislation, do not. We normally rebate any commission paid to us by a product provider back to the client.
Mortgages
We do not offer mortgage advice ourselves however we refer to a panel of preferred mortgage brokers.
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.