To gain access to your portfolio, or if you are interested in finding out more about this service please do not hesitate to contact either Peter or Lisa on 01623 490120
Why choose Adcock for financial planning?The cornerstone of successful financial planning lies in creating a financial plan designed to help you achieve the personal and financial objectives that you tend to set for your lifetime, from buying a home and planning your family’s finances to funding an affordable and enjoyable retirement. (Read on…..) Just as importantly, once established, your financial “life plan” has to be reviewed on a regular basis to ensure that it is still capable of helping you reach your goals.
In response to increasing demand from our clients for assistance in this area, our Wealth Management Service has been introduced in both the Nottinghamshire and Richmond areas to provide this ongoing financial planning service and fulfil our mission of forming long term relationships with clients to help them plan and organise their financial future. In particular we want this wealth management service to help you
- feel in control of your financial situation
- be clear about your options
- identify and achieve your financial goals
- manage your cash flow and use your money effectively
- reduce your tax liability
- have a knowledgeable chartered and certified independent financial adviser to turn to whenever the need arises
- obtain regular and/or relevant financial reports
- feel confident in the service we offer
Available to clients in Nottinghamshire, Richmond and the surrounding areas, our service will typically suit those people earning in excess of £50,000 per annum from employment or business profits and/or those people with assets (including pension funds) in excess of £100,000. At this level the charges we make for providing this wealth management service become cost effective, both for you and for ourselves.
The Wealth Management Service Explained
Our Wealth Management Service comprises four distinct parts and these are as follows:
Part 1: Initial Wealth Management Meeting – Whether you are based in Nottinghamshire, Richmond or the surrounding areas, our first meeting with you is free of charge and without obligation, allowing us to outline our company, its independent financial advisers and our wealth management services and find out a little about you and your requirements. The aim of the meeting is to help us both establish whether we can work together and whether you can receive value for money for your investment in our services.
Part 2: The Financial Planning Report: Once we decide to go ahead, we will conduct a comprehensive fact-finding exercise with you and prepare a financial planning report tailored to your individual circumstances and objectives. Depending on your objectives, this report can include, amongst other topics, lifetime Cashflow planning, tax planning, tax efficient investment vehicles, investment risk analysis, investment portfolio construction and asset allocation, retirement planning and pensions and Estate Planning/Inheritance Tax mitigation.
The cost of this report will be invoiced to you personally. This will be agreed with you prior to starting any work before the fact finding meeting and is a one-off charge. The amount will depend on the complexity of your situation but ranges from a minimum charge of £500 to £2,000.
Part 3: Financial Planning Strategy Implementation: This stage deals with the implementation of your plan objectives, upon your agreement and authorisation. This will include the setting up of assurance, investment and pension products and also associated projects such as estate planning measures and assistance with setting up tax-efficient wills.
You may choose to pay for this stage of the process by fee or, where it is available, through commission paid by the product provider, or we can invoice you directly. Regardless of the method, we will receive the same amount with any surplus commission being rebated directly into your plan.
The cost of this service is 1% of the value of investments, pensions plans and transfers placed, subject to a minimum cost of £300. Assistance with drafting tax-efficient wills is included within this charge at no extra cost, excluding any time spent in meetings with you/your solicitors, etc.
Part 4: Continuing Portfolio Management and Review Service: This service, which is vital to preserve the continuing benefits of your financial planning strategy, includes a minimum of one annual update meeting where we will prepare a full valuation of your portfolio, and where required, an estimate of your projected retirement income and potential IHT liability. We will also update your financial plan to take account of any changes to your circumstances or objectives. We have 3 levels of servicing depending on your requirements in terms of the number of meetings and valuations that you require each year.
Our charges for providing this ongoing support are 1% of funds under management, falling to 0.5% where your portfolio value exceeds £100,000 and 0.3% where it exceeds £5m. As a minimum we would expect you to pay part of this cost by a retainer fee of £15 per month. The balance of costs can be paid by fee or through the receipt of ongoing fund [value] based commissions.
How to find out more
To find out more about how we can help you with your financial planning or personal wealth management, contact our Chartered and Certified Independent Financial Advisers at our Ravenshead office in Nottinghamshire on 01623 490120 or our Richmond office in Surrey on 02089 732410.
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