This Client Agreement provides you with a brief overview of our firm and the services available for planning your finances. You may select the service and charging basis that best suits your needs. Should you have any questions regarding any element please do not hesitate to ask us.
Established since 1992, InvestAcc has grown into a multi-faceted, unique organisation. We are one of the leading Independent Financial Advisers (IFA) in the North, providing high quality, whole of market advice to individuals and companies. We pride ourselves on being investment and retirement planning specialists, who strive to provide innovative solutions to any given problem.
In July 2014, InvestAcc Wealth Management Limited was awarded the status of Chartered Financial Planners by the Chartered Insurance Institute. This is the industry’s gold standard for firms of financial planners. As well as confirming that we have satisfied rigorous qualification criteria in terms of retaining highly-qualified staff who subscribe to the membership of the CII, It also involves a commitment to continuing professional development and compliance with an industry standard Code of Ethics and Conduct. Dealing with a Chartered firm means you are dealing with proven professionals. The CII is empowered by the Privy Council to award Chartered status, and the award is only made in deserving cases. And while Chartered titles are steeped in history, they remain the benchmark of professional excellence and integrity.
You can rest assured that your financial affairs are being dealt with by a firm qualified to the highest professional standards and who also have considerable experience and knowledge on which to draw. Chartered Financial Planners are committed to continuous professional development to ensure that the advice you receive is always up to date and accurate, as well as appropriate for your circumstances. A Chartered title is therefore a commitment to an overall standard of customer excellence and professionalism, which is only awarded to the UK’s premier financial planning firms.
As an Independent Financial Adviser (IFA) we believe our clients want advice on how to be financially independent, with a level of financial security and peace of mind. We will always try to arrange what we believe are the best products, from the whole market, sensibly and in the best possible way for you.
During our financial planning process we help individuals and families address the concerns that they have about their money and answer any questions about our services.
We will learn about your individual needs and will work with you to develop a unique plan that will help you to achieve your financial goals. We provide the flexibility to react swiftly to changing circumstances and can give you up-to-date advice to manage your affairs in current market conditions. We encourage all clients to keep in touch with us regularly but the choice is yours of course.
As an IFA, InvestAcc Wealth Management Ltd will act on your behalf in advising on and arranging the following products from the whole of the market:
If no ongoing service is required, we will be providing the initial advice only which will be tailored to your individual requirements.
Any products we arrange for you will not be kept under review in future. We will, however, provide further services to you upon your request and these may be subject to a new service agreement or new charges agreed with you at that time.
It is important to note that InvestAcc Wealth Management Ltd will charge, at prevailing hourly rates, for any work we undertake for you, unless it has been accounted for in a service agreement. However, we may contact you in future by means of an unsolicited promotion (by telephone, email or post) should we wish to discuss the relative merits of a particular product or service which we feel may be of interest to you.
Regular reviews are essential as your circumstances can change suddenly or gradually over time. The law and taxation constantly changes and pension and investment contract structures evolve and innovate, which may benefit you. There will be a cost attached to the services we provide and at InvestAcc Wealth Management Ltd we offer you a choice of service to suit your requirements.
You may select the service option most appropriate to your needs, we offer two ongoing service options, Assist and Select, details of which are described later.
You can pay for our advised protection services by fee, commission or a combination of these. In respect of arranging insurance contracts, the provider of the most suitable arrangement for your needs will be sourced and they may, on completion, pay InvestAcc a commission which may be offset from the hourly rate charge. If you subsequently cease to pay premiums on a regular premium policy within 48 months of the start of the policy, and in consequence, we are obliged to refund the commission that has been paid to us (in lieu of any fee that you should have paid), we reserve the right to charge you a fee, based on the amount of money reclaimed by the life office or operator in question. This is because the commissions received covered the fee that was due and some may have also enhanced the terms of your policy. This fee is payable within the first 48 months of the start of the contract and will be based on the original commission received and will depend on how many payments have been made on the contract. It will reduce each month, by 1/48th so that no fee will be payable at the end of the 48 months. eg. a commission amount of £1,000, which was then cancelled after 6 months, will require a payment of a fee of 48-6 = 42/48ths of £1,000 = £875.
We reserve the right to reduce this repayment fee if the contract terms with the insurer are less than 48 months; in this way the fee will never exceed the amount reclaimed from us. This fee will be payable within fourteen days of the lapse of that policy and will not require a separate fee agreement. We reserve the right to charge a fee equal to the amount of work undertaken at our hourly rate. If you exercise your right to cancel the policy in accordance with the cancellation notice sent to you by the life office or operator in question.
These terms will apply even if you terminate this agreement with us before the expiry of the 48 month period. If you elect to pay by fee for non-investment protection advice this will be subject to a minimum fee of £550 per application and payable in the event of any application being rejected by insurers or not proceeded with by you. The actual fee will be calculated on a time cost basis at the rates illustrated on page 4. You may ask us for an estimate of how much in total we might charge. You may also ask us not to exceed a given amount without checking with you first. Eg. a case includes two hours of an administrator’s, a technical administrator’s and adviser’s time. Based on the hourly rates on page 4 this would result in a fee of £550. This fee would be required to be paid from your own resources as it would not be possible to be facilitated via an insurer or protection provider.
There will be a cost attached to the services we provide and at InvestAcc we offer you a choice of service and payment options to suit your requirements. We will discuss with you and invite you to select the option most appropriate to you. Fees may be expressed and calculated as a percentage of the investments under consideration. Our standard terms for initial fees being 2% of the sum invested, subject to a minimum charge of £300.
eg. for an investment of £25,000 x 2% £500
Where we agree to work on a time costed basis our hourly charges would be as follows:
Our typical fee for a straightforward investment recommendation may be calculated as follows:
|Financial Adviser||2 hours||£150 per hour||£300|
|Technical Administration||2 hours||£75 per hour||£150|
|Administration||2 hours||£50 per hour||£100|
The actual time taken will be dependent on the complexity of your circumstances and the amount of research required. It may not always be possible to accurately confirm time costed charges at outset. We may also agree a fixed charge.
Note: You may ask us for an estimate of how much in total we might charge. You may also ask us not to exceed a given amount without checking with you first.
We will discuss your payment options with you and agree how we will be paid. You can pay our adviser charges by cheque or bank transfer: we do not accept debit or credit cards or cash. Our charges will become payable upon completion of our work and should be settled within 14 business days. You will be provided with a receipt upon payment. You may also pay our adviser charges by deduction from
You may also pay our adviser charges by deduction from financial product(s) that you might invest in, where the product/platform provider allows this. Please note that if you chose 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 beforehand.
If your investments are held on a platform you may choose to pay our adviser charges out of funds held with the platform cash account (where the 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.
You may also select the level of ongoing service you require.
We offer two distinct options, Select or Assist.
|Step 1||Initial meeting||YES||YES|
|Step 2||Research whole of market||YES||YES|
|Step 5||Portfolio valuation and review||Twice a year with face to face meetings offered||Valuation only|
|Step 6||Market updates||Twice a year||Once a year|
|Annual fee||Annual Fee 0.75% of the funds under management.
For a fund of £25,000 this would equate to £187.50
|Annual Fee 0.5% of the funds under management.
For a fund of £25,000 this would equate to £125
|Ongoing expert service and adviser access||YES||YES|
As the value of your assets fluctuate so will the amount paid to us as your advisers, thus ensuring that our interests are aligned to our mutual benefit.