How are we remunerated?

Following our initial discussion (for which there is no charge), should you decide to proceed, then there is a cost for our services.

As explained in our document Choosing Countrywide For Your Financial Advice, we conduct three (3) phases of advice with our clients. All, or some, of these are agreed and employed with each client and incur a charge.
 
We offer a variety of methods by which we can be remunerated so that you can select the method that best suits your needs. 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 we are to be paid. We will also tell you if you have to pay VAT and if there are other costs that might arise in connection with the services we provide to you.
 
Since 1st January 2013 all financial advice, and the arrangement of products that include an element of investment, must be remunerated by means of adviser fees. Protection products that do not include any element of investment may be remunerated by means of commission payments paid by a product provider. Remuneration by commission (rather than by fee) will incur larger product premiums.
 
 
Initial Business
 
a.     Data Collation, Holistic Analysis, Specialist and Simplified Reports
 
Collate details of your circumstances and plans to research and analyse details. This will enable reports to be produced to meet your requirements, which may vary in purpose and detail.
 
Examples of reports may include,
 

Targeted   For specific areas of advice,
                 (For example, Retirement, Protection, etc).
 
Typical Fees
£200 - £500
Lifestyle    Planning for and arrangements to achieve lifetime objectives.
 
Typical Fees
£500 - £1,000
Comprehensive              
                Coordination of total net worth to achieve objectives, that may include liquidity planning, timeline planning, asset‑liability matching, corporate/business interfacing, etc
 
Typical Fees
£1,000 - £1,500

 
 
b.    Provision of Financial Products
 

Lump Sum Investment
                     
Fee based on 4% of the sum invested (minimum £400). For example, if you were to invest £20,000, our fee would be £800.
 
Regular ContributionSaving              
 
Based on 50% of 1st year’s contributions (minimum £400).
For example, for arranging a Pension Plan with a contribution of £100 pm, our fee would be £600
 
Non-Investment Annuity 
                     
 
Fee based on 3% of the amount used to buy the annuity (minimum £400). For example, if you bought an annuity with £50,000, our fee would be £1,500.               
 

 
 
 
 
c.     Provision of Protection Products
 

 
We are usually remunerated for the provision of protection products by commission payments paid to us by the product provider. These are typically 25% - 50% of the first 48 months premiums, depending on the type of product provided.
 
(For example, a protection product that has a premium of £50 pm would provide a commission of approximately £600 to £1,200.)
 
We will tell you the amount we would be paid by commission before we carry out any business for you.
 
If you choose to remunerate us for the provision of a protection product by fee instead of commission, our fee will be similar to the amount we would have received by commission. However, the premiums you would pay to the product provider to maintain the product would be at a lower level for the lifetime of the product.
 
In respect of any regular premium policy which we have arranged for you and we have been remunerated by commission payment, should you subsequently cease to pay premiums on the policy and in consequence we are obliged to refund the commission that has been paid to us, we reserve the right to charge you a fee representing the amount we have to repay, for a period of up to four years after commencement of the policy. We will confirm the exact amount that will need to be repaid by you, and the timescale by which it will need to be repaid, in the suitability report we will send you when a recommendation is made. We will not charge any such fee if you exercise your right to cancel in accordance with any cancellation notice sent to you by the life insurance company.
 

 
 
d.    Mortgage Business
 

 
We are usually remunerated for the provision of mortgage products by procuration fees paid to us by the product provider. These are typically 0.25% - 0.5% of the amount of the loan, depending on the type of product provided.
 
(For example, a mortgage product that of £100,000 would provide a procuration fee of approximately £250 to £500.)
 
We may charge an additional fee for arranging a mortgage/loan. This is typically £300 – £500 depending on the type of product provided.
 
We will tell you the amount we would be paid by fees before we carry out any business for you.
 

 
 
Paying For Our Services
 
We will discuss your payment options with you and agree with you how we will be paid.
 
You can pay our adviser charges by cheque, standing order or direct debit instruction; such payments are to be made to our parent organisation ‘pi financial ltd’.  We do not accept payments by cash. Our charges will become payable on request and should be settled within 28 business days. You will be provided with a receipt upon payment.
 
You may also pay our adviser charges via deductions from the financial product(s) that you might invest in, where the product /platform provider allows this.
 
If you choose to pay by deduction from a financial product this will reduce the amount left for investment and may, depending on your circumstances, have other consequences. If you select this option we will discuss the implications of using this payment method with you prior to putting it in place.
 
 
If your investments are held on a platform you may choose to pay our adviser charges out of the funds held with the platform cash account (where the platform provider offers this facility). If this method is selected it is important that sufficient funds are maintained in the account to cover our adviser charges as and when they become payable. We will discuss the implications of using this payment option with you prior to putting it in place.      
 
Please note (as referred to in the table above) a minimum charge may be applied even if you choose not to invest in a product. We reserve the right to charge you for services provided prior to cancellation.  
 
 
Ongoing Services
 
We can offer you two levels of ongoing service designed to provide periodic reviews to ensure that recommended products remain relevant to your circumstances. Details of what is included in each of these services are provided in our document ‘Choosing Countrywide For Your Financial Advice’.
 
Our charges relating to ongoing services are as follows;
                         

Ongoing Service – Sapphire
Fee based on 0.5% pa of assets under advice. Minimum Fee of £200 pa.
For example, to support a portfolio valued at £100,000 there would be a fee of £500 pa.
To support a Comprehensive Strategy there would be a minimum fee of £750 pa.
 
Ongoing Service – Diamond
Maximum fee based on 1.2% pa of assets under advice. Minimum Fee of £300 pa.
For example, to support a portfolio valued at £100,000 there would be a fee of £750 pa.
To support a Comprehensive Strategy there would be a minimum fee of £750 pa.
 

 
Payments for the above services can be made either by regular fee paid by standing order or direct debit (with such payments being made to our parent organisation ‘pi financial ltd’), or by deduction from your investment(s) on a regular basis, where the product / platform provider is able to offer this facility.
 
Deductions from your investments will reduce the amount left for investment and may, depending on your circumstances, have other consequences. If you select this option we will discuss the implications of using this payment method with you prior to putting it in place.
 
Ongoing services can be cancelled at any time by simply informing us in writing. Please note that we reserve the right to charge you for services provided prior to cancellation.