Tariff of charges

The following information on costs is taken from our ‘important information about our services document’, which will be provided at outset.

Initial advice summary

The first hour of any consultation will be at our expense and do note that we will never exceed 30 hours on a case without asking for your written permission to proceed.

We can include a written initial summary as part of our initial consultation.

We will tell you if VAT is payable on the cost of our service.

Advice services

Once you have agreed to engage our services the hourly rate is £200 to cover the costs involved with the work.

We always put a cap on the number of hours likely to be expended on a case before proceeding with any work.

The following sets out examples of charges for different types of work.

Retirement options

Review of your pension arrangements (at retirement) and advice on using your pension funds to provide you with a suitable capital and income solution to meet your needs (your living in retirement options).

This includes assessing your circumstances, provision of a cashflow analysis, research, design of an appropriate solution and implementing the recommendation.

Charged at £200 per hour.

For example: if we spend 10 hours on a case of this nature your adviser charge would be:

£2,000 (exc. VAT).

Your adviser charge is payable on receipt of our recommendations.

Advising on and arranging lump sum investments

This includes assessing your circumstances, research, design of an appropriate solution and implementing the recommendation.

Charged at £200 per hour.

For example: if we spend 10 hours on a case of this nature your adviser charge would be:

£2,000 (exc. VAT).

Your adviser charge is payable on receipt of our recommendations.

Advising on and arranging regular contribution investments

This includes assessing your circumstances, research, design of an appropriate solution and implementing the recommendation.

Charged at £200 per hour

For example: if we spend 2 hours on a case of this nature your adviser charge would be:

£400 (exc. VAT).

Your adviser charge is payable on receipt of our recommendations.

Fixed fee option

In some circumstances we can’t predict the number of hours likely to be dedicated to a case involving larger investment sums, multiple need areas or options for later life advice.

To overcome this uncertainty, we offer a fixed fee option.

We will always provide you with our best estimate of the number of hours that we expect to take in preparing our recommendations and documenting them in a suitability report.

The fixed fee option limits your commitment.

For example, if our initial assessment showed the number of hours was likely to exceed 30 hours where the hourly rate charge would surpass £6,000 (exc. VAT), we could agree the fixed fee option at outset.

The fixed fee option is £5,000 (exc. VAT) regardless of the number of hours entailed to complete the case.

Your adviser charge is payable on receipt of our recommendations.

Typically, not available for advice on the merits of a potential transfer from occupational pension schemes (see below)

Transfer of occupational or safeguarded retirement income benefits

Full advice

Full advice on the merits of a potential transfer from an occupational Defined Benefit pension scheme or a Money Purchase scheme with Safeguarded Income benefits (‘Pension Transfer Advice’).

We initially undertake a triage check to assess the circumstances and consider whether it is appropriate to introduce the transfer service before embarking on any stage of the advice process.

1.25% of the Cash Equivalent Transfer Value (CETV) under consideration in our written recommendation/suitability report, subject to a minimum fee of £5,000 and a maximum of £15,000 per scheme. The recommendation may be to either remain in the scheme or transfer away but the fee will be the same regardless of the outcome.  It may be possible for the fee to be facilitated from the product if a transfer is the recommended outcome, otherwise it must be paid by you directly. 

Example: One scheme assessed £200,000 transfer value (TV): = £5,000 (due to £5,000 minimum fee)

Example: Two schemes assessed TV £200,000 and TV £1,000,000: £5,000 + £12,500 = £18,700.

Example: One scheme assessed TV £2,000,000:  £15,000 (due to the maximum fee of £15,000)

If we recommend transferring and you act on that advice, we will not charge any additional sums for:

  • Recommending a suitable pension arrangement to receive the transfer value.
  • An initial recommendation of one or more investment funds/options into which the transfer value should be invested in the recommended receiving scheme (fees may be payable for future advice on investments in such a pension arrangement).

Important Notes.

  1. In very limited circumstances, we may agree to charge a reduced fee (or no fee) where our recommendation is not to transfer and where we do not go on to arrange a transfer for you.
  2. The circumstances in which we are permitted to make this exception are specified by the Financial Conduct Authority (FCA).
  3. If this exception applies to you, full details will be confirmed in our Client Agreement.

Abridged advice

Abridged Advice on the merits of a potential transfer from an Occupational Defined Benefit Pension Scheme or a Money Purchase Scheme with Safeguarded Income Benefits (‘Pension Transfer Advice’).

For completing a fact find, undertaking research on your behalf and providing you with a recommendation based on an abridged advice process, we typically charge a fee of £1,500 (exc. VAT).

The outcome of this abridged advice process will either be inconclusive or a recommendation not to transfer.

As this process cannot result in a transfer taking place the fee must be paid by you directly. 

If the abridged advice process concludes that you should proceed to a full advice process as set out above the fee for the full advice will be discounted by the amount paid for the abridged advice.

Please note that abridged advice will not include an appropriate pension transfer analysis (APTA) or transfer value comparator (TVC).