Like a designer shop with the price tags tucked discretely into the pockets, financial advice can be intimidating and frustrating. Not at Spentwell. Our fees are 100% transparent and fully outlined below.
We do not charge a fee for our guidance service. These are 30 minute consultations which are aimed at people who need some support from a qualified professional to get a better understanding of finance. Spentwell will always support those in need and strive to provide accessible financial support for all as part of our ‘do right, do good’ ethos.
For those who require our ongoing advice and support our fees are split into 4 distinct parts:
Introduction
Complimentary
Proposals
Complimentary
Planning and
Implementation
£995 Fixed fee for
the plan + 1% of
invested assets
for implementation
Ongoing Service
1% Per annum of
invested assets
We charge a fixed fee of £995 for the preparation and presentation of our recommendations to you. At this stage there is no obligation on you to proceed to the implementation stage and we will agree on the next steps as most appropriate for you.
The planning fee can either be paid with your implementation fee or invoiced separately.
If you are happy to proceed with our recommendations we charge an Implementation percentage-based fee of 1%. This is based on the level of invested assets (where applicable), managed and advised upon.
We will act for you in the following ways:
Handle all fund and policy administration on your behalf;
Provide regular updates to keep you informed of progress;
Ensure all your documents are issued in line with your expectations;
Provide confirmation of all actions taken on your behalf in writing.
Our ongoing advice charge covers our comprehensive financial planning service which supports you throughout each year as we work together towards your stated goals. This is confirmed in the ‘Our service to you’ document which will be sent to you.
This charge is taken proportionately, monthly in arrears, from your invested assets. As the value of your investment increases/ decreases, the amount we receive will also increase/decrease accordingly. Our fees can be paid directly via the provider, or if you wish, this can be settled via bank electronic transfer/cheque.
Our initial meeting and proposals would be complimentary
Our planning fee would be fixed at £995
To action the recommendations in the plan, our Implementation Fee would be £2,000 (1% of £200,000)
Our ongoing service fee would be £2,000 per annum
(1% Of £200,000)
In this example, the total fees payable in year one would be £4,995.
We understand that some clients need one off advice and won’t necessarily require our ongoing services and support. For one off advice, we charge £200 per hour, subject to a minimum of £2,400. For example, a full review of your circumstances, establishing 2 new pensions and 2 new investment plans, alongside our cashflow future insight work might take 10 hours of work and would cost £2,400 (12 hrs. x £200). We’ll always confirm total costs for advice before proceeding and an invoice will be sent for all agreed work and costs.
Where we establish an insurance product for your benefit (e.g. life insurance, critical illness cover, income protection) we do not charge an initial or ongoing advice fee directly for this service. We receive commission from the relevant provider for this service. This will be fully disclosed to you in the product literature before any plan is implemented.
