Hourly Rate Proposition

Charges Explained

 

Hourly Rate

Proposition

Initial fees are costed at a rate of £195.00 per hour excluding VAT.

No ongoing service provided when using the service.

Annual reviews are costed at a rate of £195.00 per hour with investment into one fund solution.

Example

The example below, a client has agreed to transfer an existing pension policy valued at £100,000.000 to a new plan with an hourly rate proposition service. 

Below are the initial and no ongoing service costs. The tables under the heading Aggregated costs and charges as of 1/4/2021 detail the full cost of the advice, ongoing service, platform charges, fund charges and transactional charges of the underlying funds in the first year of investment.

L&G Multi-Index 4 I Fund (Risk Level 4 Moderate Portfolio) has been used to determine the fund costs with an annual growth assumption of 4.90%.

Initial Fee

£1,950.00 (excluding VAT) fee for initial planning and implementation.

Ongoing Fee

No annual fee.

Reviews and Updates

No annual review.

No regular updates.

Contact with an Adviser will be based and charged on the hourly rate of £195.00.

Aggregated costs and charges as at 1/4/2021

We want you to understand the various costs and charges that are associated with our services and recommended solutions, along with the effect that these may have on what your plans return to you.

In the table below we have provided some information on all costs and charges that could apply over the next twelve months. We have also included an indication of the overall effect of these costs and charges on returns over this period.

INITIAL INVESTMENT

£100,000.00

Total Costs & Charges in Year 1

£2,567.00

2.60%

The table below details the charges applying:

Breaks down individual cost charges in monetary and percentage terms.

COSTS & CHARGES

COST (£)

RATE (%)

Initial Adviser Charge

£1,950.00

1.95%

On-going Adviser Charge

£0.00

0.00%

On-going Platform Charge

£343.00

0.34%

On-going costs of the underlying funds within a plan(s)

£304.00

0.30%

On-going transaction costs of the underlying funds

£0.00

0.00%

The table below shows the cumulative effect of costs on return:

Assumed growth rate before charges of 4.90% per annum.

ASSUMPTIONS AFTER:

1 YEAR

What you might get back if there were no charges at all

£104,900.00

What you might get back after charges

£102,303.00

Difference

-£2,597.00

Our Service Propositions

Full-Service Proposition

Nil or initial fees with a maximum cost of £300.00 per product transfer.

1.00% annual fee will determine the level of the service provided. 

Annual reviews and meetings are dependent on your level of service proposition.

Transactional Proposition

Initial fees range from 2.50% down to 1.00% on the amount invested.

No ongoing service provided when using the service.

Cost of annual reviews and meetings dependent on the number of tax wrappers.

Hourly Rate Proposition

Initial fees are costed at a rate of £195.00 per hour excluding VAT.

No on-going service provided when using the service.

Annual reviews are costed at a rate of £195.00 per hour with investment into one fund solution.

  Get in touch

If you would like to learn more or book a no-obligation initial meeting, we would love to hear from you. Enter your details below and we will be in touch.

11 + 5 =