Our Services

Historically financial planning was a transaction-based process that revolved around a “Sales process” which was, in short, someone selling you a product. By contrast, we believe that it should be an on-going process because your circumstances change, as does the world in which you live, with legislation, tax changes and investment markets being just a few variables from a much longer list. However, alongside this ongoing process, there will be times where additional advice will be required, either to address a significant change in circumstances or because you have a new goal or vulnerability that needs to be addressed.

The most obvious example of these larger pieces of advice is at outset when we first take on a client and set up the initial structure of their financial planning. As a result, we have always referred to such advice as “Initial advice” whereas, in reality, it can occur on many occasions during our relationship with a client, sometimes if there are significant changes to their circumstances or they need to investigate a new part of their planning for the first time, perhaps Estate Planning as an example.

Initial Services

Essentially advice not covered by our on-going services can incur an advice fee in most cases. This fee is set on a case by case basis and will always be provided to you in advance of you making any commitment in a written document called a Services & Payment Agreement but which is more commonly known as a Fee Agreement.

  • Creating a Financial Plan and Investment Strategy.
  • Investment of additional funds.
  • Estate planning advice.
  • Advice on how best to structure your financial planning now that you have reached retirement.
  • Review of existing arrangements to take into account a significant change of circumstances, for example when moving or retiring abroad.
  • Long Term Care needs

On-going services

Certain aspects of financial planning are common to all situations but experience tells us that a “one size fits all” approach to financial planning is ineffective and does not always offer true value for money. Therefore we offer a range of service levels and, whilst they are designed to match the increased needs of clients as their funds under management increase, they are flexible enough to allow us to accommodate the needs of clients in more unusual circumstances or who demand a higher level of service than would normally be the case.

Below are links to the 4 main Service Propositions, which are named after the plumage of the mythical Phoenix.

  • Gold
  • Crimson
  • Purple
  • Family Groups

Our Gold Service Proposition (Gold) is designed for clients with between £50,000 and £124,999 of assets under management. It provides a core financial planning service that ensures that your financial planning remains up to date. Each year, clients enjoy two half-hour meetings, either by telephone or face to face in our offices, with their adviser. At these meetings, your circumstances will be reviewed so that your adviser can inform you if any changes to your planning are needed as either a result of changes to your circumstances or external factors such as tax rates.

These reviews will also check your risk profile to ensure that the investment solution used remains appropriate, including the level of risk. A range of investment solutions are used from the whole of the investment market, namely:

  • Managed Funds.
  • Multi-manager Funds.
  • our Sapphire advisory model portfolios.
  • our Emerald advisory model portfolios.
  • our Ruby discretionary model portfolios (currently managed by Smart Investment Management).

Performance information on investment solution(s) used, both absolute and relative to the benchmark(s), is provided to clients every 6 months by email.

Advice over and above that required to manage your existing investments, i.e. new business, will be charged in accordance with our prevailing charges and will be agreed in advance of any work being commenced.

Gold is paid for by a 1% annual charge on the assets under management. Joining is paid for by an initial charge of 4% of assets between £50,000 and £65,000 plus 1% of assets over £65,000: this charge assumes that merely Personal Pension Plans (PPPs) and Individual Savings Accounts (ISAs) are being used and, should the work include any other products that require additional tax calculations, such as unwrapped collectives or Investment Bonds, we reserve the right to apply an additional charge for such work.

These charges are VAT exempt in most cases (including your own) but, if this is not the case, we will have informed you before making any recommendation.

Crimson is designed for clients with between £125,000 and £499,999 of assets under management, although it is available to any client with less than £125,000 of assets under management for whom it represents the most suitable on-going service proposition i.e. where we believe that the minimum fee applicable still provides good value. It provides a comprehensive financial planning service that ensures that your financial planning remains up to date. Each year, clients can have two meetings, either by telephone or face to face (in our offices or at a venue of your choice), with their adviser. At these meetings, your circumstances will be reviewed so that your adviser can inform you if any changes to your planning are needed as either a result of changes to your circumstances or external factors such as tax rates.

These reviews will also check your risk profile to ensure that the investment solution used remains appropriate, including the level of risk. A wide range of investment solutions are used from the whole of the investment market, namely:

  • Managed Funds.
  • Multi-manager Funds.
  • our Sapphire advisory model portfolios.
  • our Emerald advisory model portfolios.
  • our Ruby discretionary model portfolios (currently managed by Smart Investment Management)

Clients receive a written report every 6 months, including valuations on the assets being managed and performance information on the investment solution(s), both absolute and relative to the benchmark(s).

Advice over and above that required to manage your existing investments, i.e. new business, will be charged in accordance with our prevailing charges and will be agreed in advance of any work being commenced.

Crimson is paid for by a 1% annual charge on the assets being managed (subject to a minimum annual charge of £1,250). The cost of joining is dependant on the number and complexity of your existing investments and is quoted on a case-by-case basis.

These charges are VAT exempt in most cases (including your own) but, if this is not the case, we will have informed you before making any recommendation.

Other benefits provided include invitations to client presentations every 6 months to provide an update on investment markets and any legislative changes that may effect your financial planning.

Purple is designed for clients with £500,000 of assets under management and above, although it is available to any client with fewer assets under management but for whom it represents the most suitable on-going service proposition i.e. where we believe that the minimum fee applicable still provides good value. It provides an intensive financial planning service that ensures that your financial planning remains up to date. Each year, clients enjoy two scheduled meetings, either by telephone or face to face (in our offices or at a venue of your choice), with their adviser. At these meetings, your circumstances will be reviewed so that your adviser can inform you if any changes to your planning are needed as either a result of changes to your circumstances or external factors such as tax rates. In addition, clients are entitled to a further two ad hoc meetings, if needed, at their request.

These reviews will also check your risk profile to ensure that the investment solution used remains appropriate, including the level of risk. A wide range of investment solutions are used from the whole of the investment market, namely:

  • Managed Funds.
  • Multi-manager Funds.
  • our Sapphire advisory model portfolios.
  • our Emerald advisory model portfolios.
  • our Ruby discretionary model portfolios (currently managed by Smart Investment Management).
  • bespoke discretionary management through our Diamond process.

Clients receive a written report every 6 months, including valuations on the assets being managed and performance information on the investment solution(s), both absolute and relative to the benchmark(s). In addition to this standard information, the report can be personalised to the needs of the individual client, with additional information added as requested (subject to that information being readily available on a regular basis).

Advice over and above that required to manage your existing investments, i.e. new business, will be charged in accordance with our prevailing charges and will be agreed in advance of any work being commenced. However certain charges are waived, such as fees for Execution only work, in acknowledgement of the size of the assets under management.

Purple is paid for by an annual charge on the assets being managed that is tiered as follows: 1% on the first £1m, 0.75% on the next £1m, 0.5% on next £3m and negotiable above £5m (all subject to a minimum annual charge of £5,000). The cost of joining is dependant on the number and complexity of your existing investments and is quoted on a case-by-case basis.

These charges are VAT exempt in most cases (including your own) but, if this is not the case, we will have informed you before making any recommendation.

Other benefits provided include invitations to client presentations every 6 months to provide an update on investment markets and any legislative changes that may effect your financial planning along with a solicitor review of your Will every 3 years to ensure that it remains in line with current legislation.

Tiers

The tiers will make our charge for on-going services (on-going adviser charge) 1% of the first £1 million, 0.75% on the next £1 million and 0.5% on the next £3 million (terms above £5 million will be agreed on a case by case basis).

Family groups

Direct family members can be grouped together to maximise the benefit of this tiering. Each family group will have a “lead client” for the purposes of administration and their parents, grandparents, children (and their spouses) and grandchildren (and their spouses) can be included within the family group. Any extensions to that range will be considered on a case by case basis.

Assets that count towards tiering

All assets under our management will count towards the tiering. We will obtain valuations on the first day of each quarter for all policies within the family group and calculate the reduced on-going charge for the quarter to come.

Policies to which the reduced rate will be applied

It should be noted that many older policies will not allow our on-going adviser charge to be amended. In addition, many providers will not allow such a change without getting a form signed each time by all clients effected, which is impractical. Fortunately the platform that we use for our Ruby portfolios, Praemium (which is the platform underlying the Wealth Solutions Service (WSS)), will allow us to make the quarterly changes without having to bother you with further paperwork, as any rate applied will be a reduction on the 1% on-going adviser charge to which you consented on the original paperwork. Therefore we will apply a reduced rate to WSS policies and any other providers with whom we can agree a similar administrative system but will reduce that rate still further to compensate for any policies that cannot be reduced. That does mean that certain members of the family group may benefit to different degrees but the overall saving for the group will be the same (examples are shown in the appendix using a family group of 2 to keep things simple).

Communicating the reduced rate

Each quarter we will write to the lead member of each family group to let them know the latest rate of on-going charge for the family group (individual rates for each family member will be available on request).