Personal Advice Team Service Menu

Other Advice Services

As part of our MyEva service we have a Personal Advice Team who support MyEva for more complex areas of financial advice.

What will you pay us for the Personal Advice Team Services?

Our charges fall into the following categories:

a) Report charges: these are the upfront costs for the research we undertake in order to recommend a course of action for you.

b) Implementation charges: these are the costs for implementing the advice we recommend.

c) Annual Review charges: these are the costs for reviewing your financial plan on an annual basis.

Our actual charges and fees (in pounds and pence) will be agreed with you before we start any work and we’ll explain the payment options too. We’ll also let you know where any fees are subject to VAT.

Charges Financial Planning MOT

Establish your objectives, your attitude to and understanding of risks, your current plans and investments, undertaking research to identify appropriate plans and solutions, providing a personalised advice report

Implementation of agreed recommendation

£1,500 (Single Report)

£2,000 (Joint Report)

£100 per pension/investment pot consolidated

Retirement Advice Report

Personalised Report & Recommendation for those within 6 months of retirement. This does not include Defined Benefit Schemes such as final salary

Implementation of agreed recommendation

£800 for the Report

 

£100 per pension pot consolidated

Pension Income Options Report

For those within 5 years of retirement

£500 for the Report

Pension Tidy Up

A review of either personal and or previous pension schemes and recommendation as to whether it is appropriate to consolidate into new or existing scheme.

Implementation of agreed recommendation

£350 for the Report

 

£100 per pension pot consolidated

Defined Benefit Transfer/Safeguarded Benefits

Report and recommendation as to whether it is appropriate to transfer guaranteed benefits into a new scheme.

Implementation

£1,000 for the Report

 

£500 per pension pot consolidated

New Investment Planning

Investment planning report and recommendation for a new product

£200 for the Report

Investment Tidy Up

Review of existing investment and recommendation to retain or consolidate into new or existing product

Implementation

£250 for the Report

 

£100 per pot consolidated

Protection Planning

Protection Planning Report

Implementation

£250 for the Report

 

Commission from the Provider

Inheritance Tax Planning

Inheritance Tax Planning Report and recommendation to mitigate IHT liability

£2,000 for the Report

Annual Allowance or Life Time Allowance Report

£750

On-going fees for Annual Review Services

As part of our advice, we recommend you take up our review service to ensure

that our recommendation continues to meet your financial goals.

You will pay a fee for this service. Where possible this can be charged directly to

your fund and this will reduce the amount left for investment.

Pre-Retirement Advice

0.25% of the total market value of the funds under management subject to a minimum charge of £100 per annum

Eg: Fund of £100,000, the fee would be £250 per annum

Post Retirement

0.50% of the total market value of the funds under management

Eg: Fund of £100,000, the fee would be £500

Investment Advice

0.25% of the total market value of the funds under management subject to a minimum charge of £100 per annum

Eg: Fund of £100,000, the fee would be £250 per annum

Inheritance Tax Planning

0.25% of the total market value of the funds under management

0.50% of the total market value of the investment

If you do take up the Annual Review Service, we will review the suitability of the investments we have recommended. We will need to contact you to assess whether the information we hold about you remains accurate and up to date. We will issue you with a report setting out the results of the assessment and, if relevant, any updated recommendations.

Other Charges

Depending on the services we provide, there may be costs and charges (including taxes), not charged by us, but related to the financial products we arrange for you. These charges may be one-off (payable up front) or charges payable on an ongoing basis. For example

Service costs: If your investments are held on a platform (an online investment administration service) or held with a Discretionary Fund Manager (DFM), the platform provider/DFM will make a charge for administering/managing your investments.

Investment costs: These are the costs relating to the manufacturing and managing of your investments – for example, fees charged by the Investment Fund Manager, costs relating to investment transactions.

We will always disclose any third-party costs as part of making our recommendations.

Aggregated costs and charges

Before we provide you with our advice, we will add together all the costs and charges payable so that you are able to understand the overall costs of our services and recommendations. This is referred to as aggregated costs and charges information.

Termination

We may terminate this agreement by giving you at least 20 business days’ written notice. You may terminate this agreement at any time, without penalty. Notice of this termination must be given in writing and will take effect from the date of receipt. Termination is without prejudice to any transactions already initiated which will be completed according to our Terms of Business unless otherwise agreed in writing.

You will be liable to pay for any transactions made prior to termination and any fees outstanding, if applicable. This will not affect any transactions we have already arranged for you or are in the process of arranging for you.

Cancellation Rights

Full details of any financial products we recommend to you will be provided in the relevant product information you will receive. This will include information about any product cancellation rights along with any other early termination rights and penalties. However, you should bear in mind that they may not accept the funds back in certain circumstances. If the funds are returned the amount will depend on the unit price at the time of cancellation so the value could fall.