Michelle
Administrator
Michelle joined Atkins Bland in 2017 after spending 10 years in South East Asia.
In her own words:
“Returning to the independent financial services sector after 10 years has been an interesting experience and appreciating how much technology and regulations has shaped and influenced the industry. My role within PRT in assisting with the drafting of client investment reviews allows me to gain more detailed knowledge around financial services.”
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Our fees
We enjoy what we do but operating an Independent Financial Adviser business is costly. We do need to charge for our time and expertise so that we can cover these costs and pay all those working for the firm.
How we are paid for what we do
To keep life easy for our clients, and everything clear and transparent, we offer a straightforward payment option for the core areas of our work, as set out below:
Taking on a new client
Stage
Fee
Notes
Initial meeting to explain what we do and gather information on circumstances, objectives, aspirations and requirements.
Follow up written overview
No fee
No fee
We are happy to complete this work at our own expense, allowing someone an opportunity to assess if what we do is suited to their needs, without any cost to them.
Subsequent work establishing someone as a client of the firm if our services and their needs are well matched
No fee
We are happy to treat this as covered by our % based fees referred to below.
Services (other than Defined Benefit pension transfer advice)
Fee type
What is covered
% fee based on £ value
£ per £10,000 of value
Research and analysis
All research and analysis relating to the current or future deployment of capital, including assessing existing investments or pension plans and advising on their suitability for retention or change.
1%
£100
Implementation
Setting up or adding to an investment portfolio, including all required information gathering, research, written communications and associated communications.
1%
£100
Ongoing reviews and reporting
Half yearly reviews and reports, including implementation of any agreed portfolio changes and availability for general financial planning enquiries, review meetings and anything we can help with, within reason (see below under “General financial planning advice”).
1% p. a.
£100
Passing on economies of scale
As we experience economies of scale for larger portfolios, we can often offer terms based on lower percentages to reflect this.
Where we feel this is appropriate, we will do so proactively, so you do not need to ask.
Advice on other areas
Area
Payment style
Life & health insurance, equity release and long term care
Payment for advice on these areas can sometimes be through commission paid directly by the insurance company or lender.
Alternatively, payment can be on either a time spent or fixed fee basis.
General financial planning advice
If we are already receiving payment for a particular service, we can usually provide general advice at no extra cost.
Where the nature of the work is such that this is impractical, we will advise you in advance, and agree payment terms before any chargeable work is carried out. These will be either time based or a fixed fee.
For any other work that isn’t captured in the above tables, we will agree fees, based on the nature of the work, before any work is chargeable, and any work we carry out ahead of such agreement will be at our own expense.
The payment terms for any other work can be based on either time spent, a fixed amount or, if suitable, a percentage of the capital value the advice relates to.
Information on our Defined Benefit Pension Transfer advice services and how we charge for this is available on request.
Adapting to individuals client needs
Our fee structure is designed to be simple, easy to understand, entirely transparent, fair and very competitive against the marketplace, particularly if comparing on a like for like basis in terms of the highly personalised service we provide. As a result of this, we believe our fees should be appealing to the vast majority of clients. However, we are flexible and are always happy to discuss alternatives.
Our current hourly charge rates
Where we are carrying our work charged on a time spent basis, our rates are as follows:
Person carrying out the work
Charge rate
FCA registered financial adviser
£180 per hour (plus VAT if applicable)
Technical specialist
£90 per hour (plus VAT if applicable)
Administrator
£45 per hour (plus VAT if applicable)
We may also charge for any disbursements and costs associated with items such a postage and photocopying.
VAT
VAT is not normally payable where work relates to the establishment of a “Retail Investment product” (this covers most investment and pension plans) or ongoing monitoring of these agreed at the time of establishment.
Where this exemption, based on what HM Revenue and Customs call “intermediation”, does not apply, VAT at standard rates will apply to our advice fees.