Fees charged by an Independent Financial Adviser are sometimes called “Adviser Fees” or “Service Fees”. Since the Retail Distribution Review in 2013, all fees for any work are clearly laid out in advance and the amounts specified in our recommendations and key features documentation.
We usually work under a comprehensive service arrangement comprising an initial fee and, where chosen, ongoing annual service fee. Alternatively, we can charge an hourly rate or a specified fee for particular projects.
Before any transaction takes place, we’ll discuss our fee structure with you and send over a specific proposal detailing the arrangement clearly. We do not proceed until we have your written agreement to our services and fee proposition.
Normally, we charge an initial fee, which is based on the percentage of any funds invested or transferred. Occasionally, we will agree a specified fee for a defined project.
Hourly fee-based work
Ad hoc work, once proposed and instructed, is charged on an hourly basis. We will invoice you directly for any work undertaken.
Before we provide you with our advice, we will outline as far as possible, all the costs and charges payable so that you have a clear outline of what your costs will be. Where the time frame is uncertain, we will give a range of the time required and so a range of the likely fee to be incurred.
You can pay your adviser fee directly by issuing a cheque or instructing a bank transfer. Alternatively, this can be deducted from your investment. Please note that if you choose to pay by deduction from a financial product this will reduce the amount left for investment.
We will not proceed until you have agreed to our proposal for the work in writing or by email.
You can find full details of our charges here
We offer two tiers of service:
1. Comprehensive Financial Planning and Portfolio Review Service
This includes an annual face to face review of investments under management and your full financial situation. Our all-inclusive on-going fee for this service is 0.50 per cent p.a. of funds under management. This fund-based fee is payable to us on a quarterly basis and is usually deducted from the funds invested.
2. Comprehensive Financial Planning and Portfolio Review including a Quarterly Rebalance Service
This includes an annual face to face review of investments under management and your full situation. Additionally, we undertake to review, amend and rebalance your investments every quarter. Our all-inclusive quarterly rebalance fee for this service is 0.75 per cent p.a. of funds under management. This fund-based fee is payable to us on a quarterly basis and is usually deducted from the funds invested.
You can see full details of our charges here
Modern Money Financial Services Limited is authorised and regulated by the Financial Conduct Authority: 150571. Registered in England: No. 2459464. Directors: M Paine, L Edmunds
The Financial Conduct Authority does not regulate tax or estate planning
The guidance and/or advice contained within this website is subject to the UK regulatory regime and is therefore primarily targeted at consumers based in the UK
© Modern Money Financial Services Ltd 2019