IEP Financial Limited – Client Charges
We are a financial planning business, focused on helping you understand and plan for your financial future. This information is designed to give you an idea of:
- What we do and how we do it (our services)
- What it’s likely to cost and how you can pay us
More detailed information is available from our website at www.iepfinancial.co.uk
This document provides details about our services to you and how we charge, so it’s important that you read it fully. If there is something you don’t understand please ask us to explain it.
1. Our services
Whatever financial decisions you have to make, the first step towards making the right decisions is to establish a clear understanding of your financial needs.
People seek financial advice for many different reasons so it’s important that we understand exactly who you are and what you want to achieve. At our first meeting we’ll gather information about you to help define your needs and priorities.
Our services include:
- Financial planning: It’s important to identify what you might want to achieve and how you can do this. We can help you to identify your goals and create a plan for your finances to help you achieve them.
- Retirement planning: It’s important to know whether the money you are saving towards retirement will provide you with sufficient funds to meet your retirement objectives. We can work with you to proactively plan for your retirement and help you decide on the options available once at retirement.
- Protection planning: Most of us want to protect the things that are important to us, our family, business and quality of life. Protection planning can help to provide peace of mind in the event of your income changing due to unexpected events. We can help you plan for the best way to protect you, your family or your business.
We’ll only start work once we have agreed our services and charges with you. We’ll give you a copy of our Client Agreement which will set out the services we have agreed to provide and confirm how much this will cost.
2. Our advice
We offer independent investment advice.
This means that we consider a wide range of financial strategies and products. We are constantly reviewing the market to ensure that the services and products we offer are appropriate for our clients.
Where we recommend particular investment strategies and products to you these will be selected based on your personal circumstances, financial goals and objectives. We`ll consider a number of factors, including the services you need, the cost of investing, how much risk you are prepared to accept in an investment product and how much of a drop in its value you could withstand.
The areas we can advise on include:
|Open ended investment companies||Enterprise investment scheme||Phased retirement & income drawdown|
|Unit trusts||Structured products, incl. structured deposits||Term assurance|
|ISAs||Venture capital trusts||Critical illness cover|
|Investment bonds||Pensions||Income protection|
|Exchange traded funds||Annuities||Long term care|
We don’t provide advice in relation to individual share holdings. If this is something you need assistance with, we can refer you to a stockbroker.
We don’t provide advice on options, futures and other derivative contracts as we believe that these are unlikely to be suitable for our clients
For further details please refer to our website.
Where we provide protection planning services we are an insurance intermediary and will provide advice which is based on a fair and personal analysis of the market.
3. Our charges
The way we are paid for our services may depend on the type of advice given. Typically, this will be:
- Investment business: fees agreed and paid by you
- Insurance business: commission payable by the insurance provider, which is a percentage of the total annual premium
Where we are paid by commission we’ll tell you the amount before we carry out any business for you. Any commission we receive from the product provider can be used to offset any fee payable.
More details on these options and how they are paid is found in the following sections on initial and ongoing charges.
Our charges fall into the following categories:
- Initial charges: these are the upfront costs of our services. We offer several types of initial service depending on your needs.
- Ongoing charges: once your financial plan is in place it is important to keep it under review so it can be adapted, where necessary, as your circumstances change. Our ongoing services are designed to do this.
Our actual charges and fees (in pounds and pence) will be agreed with you before we do any work and we’ll explain your payment options too. We’ll also let you know where any fees are subject to VAT.
|Financial Planning and Wealth Management
||4% of an investment under £100,000
3% of an investment between £100,000 and £500,000, capped at £10,000
2% of an investment above £500,000
Our typical charge for £50,000 is £2,000
Our typical charge for £200,000 is £6,000
Our typical charge for £500,000 is £10,000
We’ll provide you with a personalised quote for the work to be carried out before starting any work.
|Advisory ‘Fixed Price’ examples include;
a) Initial discovery and analysis report
|Advisory ‘hourly priced’ work;
a) Adviser from:
|a) £300.00 per hour
b) £175.00 per hour
c) £75.00 per hourAn example of providing a review of your protection needs, our average charges are as follows:
Total cost = £825.00
| Initial charges can be paid in a number of ways:
If you agree to purchase an ongoing service, unless otherwise agreed, the service will be provided as a follow up to the initial service.
|Ongoing Service||Ongoing Charges|
|The IEP Financial Review Service
||Our annual ongoing charge for this service range between 0.75% and 1.25% of the total market value of the investments funds that we manage on your behalf. The agreed % is dependent on the value of assets under management and the services required.
Please note that our charges will increase and decrease in line with the value of your investment funds and are typically calculated and deducted monthly by the provider.
|Ongoing charges can be paid in a number of ways:||
4. 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 charges (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 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’ll 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 and will be contained in our suitability report.