How we are paid
During the discussions on how we work and we will also cover how we are to be paid for our services. There is no charge for the introductory meeting and no obligation on either side.
Once we start work for you, we will agree whether you wish to pay us a fee, or whether we are to be 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 when working out any fee that may be payable.
Commission is paid to an IFA firm by a product 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. The amount of commission is normally based on a percentage of the premiums payable or the amounts invested.
Fees are either based on an hourly rate for the time spent on the work or calculated as a percentage of the amount invested. Fees will not attract VAT as we are not VAT registered and commissions, under current legislation, do not attract VAT.
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. Please see the Information about the cost of our services for further details
For mortgage advice you can also choose how we are paid: you can either pay us a fee or we can accept and introducer's commission from the lender. For full details please see the Information about our services.
