How we are paid
Penllyn - www.lluniauiwan.co.uk
On receiving an enquiry we invite a prospective client to come to our offices for a preliminary meeting. The purpose of the meeting is firstly to establish whether we are able to assist with the prospective clients needs and objectives and secondly to discuss how we would be paid for our services should we be instructed to proceed. There is no charge for this preliminary meeting, it is totaly at our expense, and there is no obligation on either side.
After the initial free consultation, we will agree with you the way forward. If at the end of that meeting you decide that the way we work is not for you, then we part all the better for having met each other.
If you decide that you do want to organise your finances and plan for a future lifestyle that you deserve then you will join The Canllaw Complete Client Process and we will commence the Canllaw Strategy Process which includes the "Designing your Desired Destiny” programme. We charge a one off fee for this service depending on the complexity of your circumstances, with a minimum fee of £699.00.
Planning your future lifestyle is not a one off quick-fix solution, it is a process which requires regular monitoring and review. Therefore we will also enrol you onto the annual Canllaw Review Proccess with a minimum monthly payment of £40.00. This review proccess is an annual agreement which is renewed every year and starts the first month after you receive your own personal financial plan.
Again, if having completed the Canllaw Strategy Process you decide that you are happy with your current situation and that the arrangements you have in place are likely to provide you with the lifestyle you desire, then you are free to leave happy in the knowledge that your financial future looks bright.
If however you want us to take control of your existing arrangements and monitor their progress and performance then we would be happy to help. Also if your current arrangements are unlikely to give you your desired lifestyle we will help and advise you as to how to move forward and put in place the neccessary plans and arrangements for that to happen. We will therefore commence The Canllaw Implementation Process. The fees involved with this sevice will be fully explained to you at that time.
Whatever the fee, this can be paid directly by you, or we can be paid out of the cost of any financial product you buy (commission). We will always tell you about any commission we earn, and it will be taken into account in working out our fee.
Commission is paid to an IFA firm by a provider, usually an insurance company or an investment house for the successful placing of business. The commission is included within the providers normal product charges, so there is nothing you need to pay us in addition. The amount of commission is based on a percentage of the premiums payable or sums invested.
Fees will usually be based on time spent and evaluated at a rate per hour calculated to recover our costs. We will always tell you about any commission we earn, and it will be taken into account in working out our fee.
Whether we take our remuneration by way of commission or fees will be a matter of discussion and agreement, and no charges for fees will be made without prior notification in writing.