Common use of INITIAL CHARGES Clause in Contracts

INITIAL CHARGES. Our charges relating to new work e.g. client take-on, new investments and one-off reviews are as follows: • 3% on the first £100,000 of your investment (subject to a minimum fee of £1,500) and then 1.5% on any amount over £100,000 (subject to a maximum fee of £7,500) Below are examples of how our charges could apply; • If you invested £50,000, our fee would be 3% of £50,000 = £1,500 • If you invested £200,000, the first £100,000 would incur a fee of 3% and the remaining £100,000 would incur a fee of 1.5% i.e. o 3% of £100,000 = £3,000 o 1.5% of £100,000 = £1,500 £3,000 + £1,500 = Total fee £4,500 Alternatively, you could choose to have the work involved time recorded. We would then estimate the number of hours it will take to complete the work. We then apply standard hourly rates, these being: • £250 per hour for Financial Planners. • and £80 per hour for Administrators. We’ll always present you with a personalised quote before undertaking any work that might be charged for. Our charges are based on the following hourly rates: Administrator 3 hours at £80 per hour £240 Average cost for a new £50,000 investment = £1,740 Financial Planner 6 hours at £250 per hour £1,500 Administrator 6 hours at £80 per hour £480 Average cost for a new £100,000 investment = £3,480 Financial Planner 12 hours at £250 per hour £3,000 Our charges are payable on completion of our work and must be settled within 28 business days.