Financial Planning and Wealth Management Service Sample Clauses

Financial Planning and Wealth Management Service. We are asked to review a client’s financial position and circumstances in order to identify any shortfalls in the areas of protection, investment, retirement and tax mitigation. This involves collating information from various plans and holdings totalling £1m with a view to simplifying their affairs, and the client is also looking to have closer involvement with the management of their capital whilst benefiting from the expertise of investment managers. We include a broader analysis of the client’s retirement and general financial planning position, whilst also identifying other aspects of planning that should be considered; for example, family protection and inheritance tax planning. The client has also requested a cash-flow modelling exercise be completed in order for them to gain a better understanding of their financial position both now and going forward. An indicative initial advice charge to a client based on advising on this scenario is: ROLE ESTIMATED HOURS TOTAL STAFF COST TOTAL INITIAL ADVICE COST Operational Support 15 hours £1,125 Example cost for this service would equate to a fee of Paraplanner Support 15 hours £1,500 Paraplanner 10 hours £1,500 £6,925 Registered Individual 8 hours £2,800 In % terms, this would equate to an initial adviser charge of 0.70%. All figures quoted are purely for example purposes. The actual fee paid will be dependent upon the complexity of the work undertaken and will be confirmed to you in our written communications prior to any work being undertaken. Furthermore, the increase in costs associated with reviewing and maintaining larger investment portfolios not only reflects the additional work involved, but also takes into account the fact that our professional indemnity premiums, the Financial Services Compensation Scheme levy we pay, and other regulatory fees are all based on how much our clients invest or have invested through us. Paying our initial charges Initial charges are payable on completion of our work and can be paid in a number of ways. They must be settled within 30 days. Payment can be made either by:
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