How we work and our fees

How we work and our fees. We are Independent Financial Advisers with over 20 years of experience in the marketplace and we believe in advice, rather t...
Author: Alexander Boone
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How we work and our fees. We are Independent Financial Advisers with over 20 years of experience in the marketplace and we believe in advice, rather than simply selling products. We offer professional face to face advice to you in our offices, or at your home or place of work. Our core offering is advice, recommendation and on-going reviews through which we build deep and long lasting relationships with our valued clients. We have clear and transparent charging, and a commitment to keep in touch with you in the style and frequency that suits you best. We also offer ‘one off’ pieces of project work. We are all highly qualified with specialist expertise to implement our advice in every area of your needs and we are all Independent. Investment planning – Savings, Investments, Retirement Planning, Tax Planning Retirement planning – Pension Funds, Personal Funds, Company Funds, Trustee Funds Protection – Life Cover, Critical Illness Cover, Protection of Income, Business Cover Estate planning – Inheritance tax planning, Succession Planning, Trusts Mortgages – Mortgage & Loan solutions

There are four stages to our advice process;

1. Getting to know you 2. Planning & Research 3. Implementation 4. Review & Management

1. Getting to know you This can be at work, in the comfort of your home, or in our office.

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For all clients the objective of this meeting is to identify how best we can work together.

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We gather detailed financial information about you, explore your objectives and views on key topics .

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We make sure you know how we work to get the best from our range of services.

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You decide how you want to take things forward.

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There is a minimum cost for us to do this of £375, which we will cover entirely, unless we confirm otherwise.

Canopus Financial Services Ltd. is authorised and regulated by the Financial Conduct Authority (www.fca.org.uk/register). Financial services register no. 707305.

2. Planning & Research Once you have agreed how best to work together, we can start building your financial plan. We will... Establish your risk profile;

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Liaise with providers, if necessary, to accurately obtain your factual financial information;

Identify how best to use your existing arrangements before recommending any new ones;

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Document your information for future reference when required;

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Review all of the market for suitable solutions;

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Make recommendations that take into consideration your taxation situation now and in the known future regarding Income Tax, Capital Gains Tax, and Inheritance Tax;

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If you require:

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Analyse your current situation compared to your desired situation; Analyse the impact of a personal crisis including death, acute and chronic illness;

Look at the impacts of changes in regulatory, economic and legislative issues on your situation;

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Hold a personal meeting to discuss your plan, answer any questions, agree an action plan, and what the next steps will be;

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Analyse your current budget, assets and liabilities; Analyse the impact of stopping work voluntarily - Retirement; Provide generic advice as to how to reduce the financial impact of any issues discovered and how to increase the likelihood of achieving your goals;

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Not implement our recommendations without your agreement to do so.

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Our fee for this Initial Financial Planning is £750. Should we require further detailed analysis of any preserved and existing pension plans, this will be charged separately and agreed in advance with you. This is currently £250 per plan.

Fees agreed for stage 2

Adviser’s signature:

Canopus Financial Services Ltd. is authorised and regulated by the Financial Conduct Authority (www.fca.org.uk/register). Financial services register no. 707305.

3. Implementation Details of the service we provide: We will prepare a detailed report confirming the reasons for our recommendations;

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Any recommendation we make will establish and highlight any risks and disadvantages, and will be tailored to match your attitude towards taking risk for that area of advice;

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Select appropriate investment funds for your desired asset allocation and / or select the appropriate product(s);

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Preparation of all paperwork for your review/completion and signature;

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Regularly update you with progress reports;

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Ensure decisions are communicated effectively, in the event of plan changes;

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Check that your documents are issued in line with your expectations.

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Our fee for Implementation is described in the following fee scale table: Service Provided

Initial Adviser Fee

On-going Adviser Fee (per annum)

Establishment of investment(s) (fee will be dependent on the size of the investment and complexity of advice)

Minimum 2% of sum invested Maximum 3% of sum invested (subject to a £250 minimum)

Maximum 0.5% of funds under management

Establishment of a Pre-Retirement Product(s) (Fee will be dependent on complexity)

Minimum £500 Maximum £2,000

Maximum 0.5% p.a.

Establishment of an At-Retirement Product(s) (Fee will be dependent on complexity of advice)

Minimum 2% of sum invested Maximum 3% of sum invested (subject to a £250 minimum)

Minimum 0% Maximum 0.5%

Establishment of an Investment Linked Whole of Life Contract (Fee will be dependent on complexity of advice)

Minimum £500 Maximum £2,500

Minimum £0 Maximum £100

Non-Specific/Generic Financial Advice

£190 per hour (Exclusive of VAT)

For example an investment of £10,000 into an ISA is likely to attract a fee of £300 for implementation and an on-going fee of £50 pa, increasing/decreasing in line with the value of the ISA. Fees can be paid either directly, through the product provider or a combination of both and are payable on completion of the work unless otherwise agreed. If the fee is to be charged on an hourly rate then we will give you a guide to the number of hours of work involved and an estimate of the cost. Estimated fees for stage 3

Adviser’s signature:

Canopus Financial Services Ltd. is authorised and regulated by the Financial Conduct Authority (www.fca.org.uk/register). Financial services register no. 707305.

4. Review & Management Our recommended level of service, the Annual Review includes: Annual planning meeting to discuss your financial situation and any plans for the future, organised by us;

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Assessing the impact of regulatory, economic, and legislative changes;

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Managing liquidity requirements for planned or unplanned drawings;

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Determining your risk tolerance;

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Dealing with ongoing correspondence and administrative issues on your behalf;

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Annual update of your financial planning;

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Providing reassurance in times of financial turbulence;

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Ensuring that you do not panic and create losses when unnecessary;

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Providing factual information to assist you to make sound financial decisions;

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Alerting you to the dangers of making costly investment mistakes;

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Minimising taxation;

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Considering Wills and Powers of Attorney;

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Consider issues of Inheritance Tax;

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Simplifying all administration by operating on selected technology platforms;

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Providing a summary valuation of your investment annually;

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Acting as a reminder to you to review your goals, focus on what you most want to get out of your life, with a view to helping you achieve this;

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Determining an efficient asset allocation appropriate to your specified risk profile;

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Investment management;

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Ongoing review of the allocation of cash, bonds, equities and alternative investments in line with your objectives;

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Being available to discuss matters as necessary to keep you informed and to answer any questions.

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Ongoing monitoring of investment managers used in the portfolio;

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Annual review discounted implementation fees on further investments Funds under management in excess of £100,000 discounted to 2% of the amount invested. Funds under management in excess of £500,000 discounted to 1% of the amount invested. Funds under management in excess of £1 Million no implementation fees.

Canopus Financial Services Ltd. is authorised and regulated by the Financial Conduct Authority (www.fca.org.uk/register). Financial services register no. 707305.

Service level

Discounted implementation fees on future advice and implementation

Personal Review (impacts of legislative, economic and regulatory changes)

Ongoing portfolio plans reviewed, monitoring and valuations

Keeping you informed – via relevant market updates and communications

Client Fees

Annual review

YES

YES

YES

YES

0.5% of the portfolio value. Subject to a minimum of £250 p.a.

Basic service

NO

NO

NO

YES

0.5% of the portfolio value. No minimum value and so likely to be for smaller portfolios.

The portfolio value means the total value of your investments under our management and the ongoing fee can rise and fall as that value fluctuates. As an example a portfolio of £100,000 would attract an ongoing fee of £500pa and if the value subsequently increased to £110,000 then this would become £550pa. Reviews can be arranged on a more regular basis where the size and complexity of the portfolio requires it and ad hoc reviews can also be arranged for a fixed fee. All fees can either by paid by you the client or through the product provider where appropriate. Where the fee is payable by the client then we ask that they are settled within 30 days from the date of the fee note. If paid by you this can be by cheque or direct credit to our bank. All of the above services are provided as part of a whole process which may lead to the arrangement of a VAT exempt insurance or investment product and as such should not be subject to VAT; ad hoc work could however be subject to VAT. The ongoing fee and annual review can be cancelled by you at any stage, by email or in writing.

I wish to choose the servicing option of _______________ to be paid by the product provider /directly/combination of both (delete accordingly). I understand and agree to the above terms for implementation and the fees as confirmed in my report to be paid by the product provider / directly / combination of both (delete accordingly). Name:

Name:

Signed:

Signed:

Date:

Date:

Canopus Financial Services Ltd. is authorised and regulated by the Financial Conduct Authority (www.fca.org.uk/register). Financial services register no. 707305.

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