Our charges will, of course, vary depending on the complexity of your individual requirements.
Traditionally, the payment of advice services has been through commission in product sales. The commission rules were changed in 2013 and financial advice is no longer led by commission.
At Inspire Financial Planning, we feel that financial planning is far more than selecting the right product. We feel that the fairest and most transparent way to provide impartial independent advice is by charging fees for all financial planning and associated advice.
We will always be clear with you about the amount and method of payment and you will not be sent an invoice or bill unless it has been agreed with you and a Fee Agreement has been signed.
Detailed below are some examples of fees payable for a full financial planning service.
- Initial meeting: at our expense.
- Initial report fee outlining our recommendations: up to £970 (this fee may be used to offset part of the implementation fee detailed below).
- Implementation of the recommendations: a percentage based fee depending on the amount invested. The maximum would be 3% and the minimum would be 1%.
- Ongoing advice through our client management service: 0.6% per annum based on the assets under advice.
Some fees may be subject to VAT. These will be explained to you in detail at the initial meeting.