FINANCIAL PLANNING PROCESS

WHAT IS FINANCIAL PLANNING?

We consider our role is to help provide the financial framework so that individuals, families and businesses can carry on their lives with the confidence that their protection and medium to long term financial needs are being looked after.

This is the result of a full examination of the current situation and then drawing on our knowledge and experience to select the most appropriate solutions to meet the agreed objectives.

We will consider a wide range of options from across the financial and investment spectrum, whilst also seeking to make the most of current legislation to optimise tax efficiency in line with your own individual circumstances, and bearing in mind tax rules change.

Because we are part of Close Brothers Group plc and promote the Group’s investment products, we are classed as providing restricted advice. However, if Close Brothers do not provide a suitable investment solution to meet your needs or if you prefer another option, we can recommend investments from other firms supported by a rigorous research process.

We provide advice on all aspects of financial planning such as pensions, investments, annuities, protection, inheritance and tax-efficiency planning. We also provide investment- management services which are unbiased, multi-asset, actively managed and diversified across regions and sectors. The personal recommendation we provide on term and whole-of-life assurance, investment bonds, critical illness cover, private medical schemes, permanent health insurance or annuities is based on a thorough, fair and personal analysis of the market.

HOW WE WORK

Our aim is to deliver a high quality and competitively priced service to clients with whom we can establish a long term relationship.

Our approach therefore is to develop long term plans for clients that we can see through to fruition, making all necessary adjustments along the way to react to changing regulations, personal circumstances and prevailing conditions.

Fundamentally our aim is to advise, and the service is principally a fee remunerated model. The arrangement of financial products is an outcome of the advice process, and when products are arranged the option of paying for our services through the product by adviser charging becomes an option.

We always bear the cost of our initial meeting with prospective clients. The approach means we have no interests in particular products. We will discuss your payment options with you and answer any questions you have. We will not charge you until we have agreed with you how much, when and how we are to be paid. Whatever the preferred…

OUR PROCESS

FIRST APPOINTMENT

Upon appointment our first step will be to start to prepare a financial plan tailored to your particular requirements and situation.

SETTING GOALS

We will spend some time talking with you to identify your goals over the short, medium and long term.  After that we will find out details about your specific circumstances, and build up a comprehensive picture of your situation which we can then analyse.

IMPLEMENTATION

The next stage is to implement that plan step by step, and we will give guidance on the most suitable way to go about this, which can include recommending products available from the market at the current time.

ACTION PLAN

This leads on to the formation of an action plan on how you can best reach your stated goals. Our report will explain the approach we have taken and why.

REGULAR REVIEWS

Progress needs to be revised at regular intervals which we will agree with you, and adjustments made as necessary, depending on changes in circumstances or your initial goals.

HOW WE ARE PAID

We aim to provide a high quality service at a competitive price

On receiving an enquiry we invite a prospective client to come to our offices or other convenient location for a preliminary meeting. The purpose of the meeting is firstly to establish whether we are able to assist with the prospective clients need’s and objectives and secondly to discuss how we would be paid for our services should we be instructed to proceed. We bear the cost of this preliminary meeting and there is no obligation on either side.

After the initial consultation, if we are to provide a service, we will agree with you whether you pay us a fee, or we are paid through any financial product you arrange – called adviser charges. We will provide you with a Fees and Charges Schedule and will always tell you about any adviser charges or commission we earn, and it will be taken into account in working out our fee.

Fees for pure financial planning work will usually be based on time spent and evaluated at a rate per hour calculated to recover our costs. Fees for investment work and for the arrangement of financial products are generally based on the amount of the investment being made or placed under our advice.

Fees for all services where the outcome is the establishment of a financial product do not suffer a VAT charge (even if the anticipated product arrangement does not proceed). Fees for pure financial advice can be liable for VAT although at the current time we do not have to levy VAT.

We will always tell you about any commission we earn, and it will be taken into account in working out our fee.

We can offer a commission based service for insurance products such as life assurance and disability cover.

Whether we take our remuneration by way of fees from you or adviser charges from your investment products will be a matter of discussion and agreement, and no charges will be asked for without your prior agreement.

Your home may be repossessed if you do not keep up repayments on your mortgage.

Bottriell Adams LLP

Bottriell Adams LLP
Gaunts Business Centre
Petersham Lane
Gaunts
Wimborne Minster
Dorset
BH21 4JT
Tel: 01202 848080
Email: Contact Us

Before you invest, make sure you feel comfortable with the level of risk you take. Investments aim to grow your money, but they might lose it too.