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How we are paid
On receiving an enquiry we invite a prospective client for a preliminary meeting at either of our offices or we can arrange a meeting at their place of work or home if preferred. 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, 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, and it will be taken into account in working out our fee.
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 on 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. Fees attract an additional VAT charge whereas commissions, under current legislation, do not.
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.
To arrange an appointment
- Call us on 01704 228120 (Southport) 01582 462709 (Harpenden) or 01704 898570 (Burscough)
- email us at mail@pensionswms.co.uk
The guidance and/or advice contained in this website is subject to the UK regulatory regime and is therefore targeted at consumers based in the UK.