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The options for paying for financial planning advice have, over time, become increasingly complex.
However, on a more positive note, they have also become ever more transparent.
Traditionally, most Financial Advisers have worked on a commission basis. For example, as a result of the
advice given, the adviser might arrange a life assurance policy or a mortgage on behalf of a client. From
this, the insurance company or lender would pay a commission to the adviser for the products sold.
Whilst this model can work in certain situations, it has some major drawbacks, the most significant one
being that the adviser will only get paid if a commission paying financial product is sold.
The alternative is for the client to pay a fee to the adviser based on the time spent, which is the basis on
which most similar professionals such as solicitors act. This has the advantage of ensuring that the advice
given would be truly unbiased, as the adviser would be paid irrespective of whether a product was sold.
However, for many clients the thought of being presented with a larger than anticipated bill is very
uncomfortable.
We believe that our payment options solve both of these problems. Our options vary according to the type
of advice required, which is why we offer an initial meeting without charge or obligation so that we can
ascertain your advice requirements.
This is important as certain types of advice may be paid via a commission payment route (e.g. arranging a mortgage or protection plan) and others
are paid via a fee payment (e.g. investment or taxation planning). From our initial meeting we can then work out what our costs might be and then
agree to work on either a commission or fee basis (or maybe a mixture of the two) according to the type of advice required. Where the fee option is
selected, we will endeavour wherever possible to work on a fixed fee basis so that there are no unexpected bills.
Finally, and we think that it is worth repeating – our initial meeting is without charge or obligation, and during this meeting we will discuss the relevant
payment options if you wish us to act for you.
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‘Here to help you plan for the future with solid Financial Advice’
7 Lords Drive, Telford, Shropshire, TF2 9UE       Telephone 01952 299512  Mob 07985 414252  Email info@freeman-ifa.com   
7 Lords Drive, Telford, Shropshire, TF2 9UE       Telephone 01952 299512  Mob 07985 414252  Email info@freeman-ifa.com