Bringing Meaning to Money – What does it cost?

Discovery Meeting

We offer all potential new clients an initial meeting, at no cost and without any obligation. We call it a Discovery Meeting.

This will typically take place at our offices in Newton Aycliffe where we have all our resources to hand. We have free parking and plenty of coffee. We will have an informal chat about your current circumstances and what you are looking to achieve from your planning process. By the end of the meeting we should have a broad picture of your financial position and know if we can help.

Following the Discovery Meeting, if we believe we can add sufficient value, we will write to you with a personalised agreement to confirm the detailed service that we propose, and how you will benefit. We will also explain the exact cost of this service.

It will then be up to you to decide whether to proceed, by returning the agreement.

If we don’t feel that we can add sufficient value, we’ll tell you. Your time won’t have been wasted however, as we will have given you a great deal of guidance in the Discovery Meeting. Many people tell us it was the most useful hour they’ve ever spent discussing their financial future.

Bringing Meaning to Money Review

In order to Bring Meaning to Money we need to know where you are now and where you want to be in the future. We can then work with you to map out the journey.

We will need to gather details on your income, expenditure, savings, investments, pensions (including occupational and State Pensions) and protection policies. We also look at your position with regard to income tax, capital gains tax, pension taxes, and inheritance tax. Finally we need to consider your Will and Power of Attorney. A deep and thorough understanding of your finances means that we have the best platform to Bring Meaning to Your Money.

At the end of the Review process you will fully understand your current situation. You will have had an opportunity to look into the future to see how it looks compared to your own hopes and expectations. We will make recommendations for change and point you in the right direction. You will certainly be better informed and will understand the steps you can now take to shape your own future.

At the end of the Financial Planning Review process you will fully understand your current situation. You will have had an opportunity to look into the future to see how it looks compared to your own hopes and expectations. We will make recommendations for change and point you in the right direction. You will certainly be better informed and will understand the steps you can now take to shape your own future.

Fees

Let’s be clear. Whilst we love what we do and can literally change peoples’ lives by Bring Meaning to Money, we do need to charge for our knowledge, skill and expertise. You may also have looked at other financial planners websites and found details of fees sadly lacking. That’s not surprising as a recent survey showed that fewer than 10% of companies quote their fees.

We charge a fixed fee for our full Review. The typical fee is £3,000 (VAT generally doesn’t apply). It may vary depending upon the complexity of your situation and what changes may be required but we’ll agree this with you before undertaking any work. Our professional fees reflect the level of detail we go into to build a full and detailed picture of your finances before giving any advice, ensuring that our advice is appropriate and bespoke to you.

The agreed fee may be paid by invoice or deducted, with your consent, from any investment or pension if one is implemented for you. The fee is only payable once we have completed the Review and any Implementation work. This means that in most cases there will not be an upfront outlay from you.

This is an extremely competitive cost for such a comprehensive service, when compared to the more usual cost of investing where there is no detailed planning service. For example, many providers charge a 3% initial fee just for investment without the wider planning service. On a portfolio of £300,000 a 3% initial fee would work out at £9,000.

And remember attending the Discovery Meeting is at no risk to you. We’ll only offer our service if we think it’s right for you and we can add sufficient value to cover our fee.

Lifetime Financial Planning Service

This is the core of our service; checking that you remain on track by constant reappraisal and forward planning.

You will receive all the support you require, and, to use a car analogy, we will fully service, wash and polish your affairs at least once a year. We will keep an eye on the financial world to ensure that you continue to make best use of your resources on an ongoing basis.

For our lifetime financial planning service we charge a minimum of £2,500 pa plus VAT to work with you as you progress towards your objectives in life. For those with over £250,000 invested via ourselves we charge 1% plus VAT on the whole portfolio, excluding cash deposits.

Example: if the value of your investible assets is £300,000 we would charge you £3,000 pa plus VAT.

Our typical total portfolio charges are very competitive in the market at 0.66% per year

Every year your fees for the period are clearly set out in writing, in pounds and pence!

Our fees are payable by periodic invoice, standing order or if it is acceptable to you, by adviser charging against the funds in the investment and pension portfolios that we look after for you.