Initial Consultation. The Initial Consultation is sometimes referred to as a ‘Fact Find’ or a ‘Confidential Financial Review’. This part of the advice process starts once you have agreed to take regulated advice. At this point we are looking to gather as much relevant information from you about what you are looking to achieve. We will ask you about your circumstances, current financial position and your financial goals. This is so we can understand the factors that are important to you. We will assess your risk profile and your capacity to bear loss. We will look at your financial experience and the wider issues that you are looking to achieve through taking financial advice. This process will start with an Initial Case Handler and will then be passed to our advice team. We may have to contact you several times to gather the information we require. At this stage it may be evident that all of your goals cannot be realistically achieved, and we can explore the different outcomes with you. If relevant there may be areas that are not as important for you and at the end of this meeting, it is our aim that we are in agreement as to what your goals are, and which of these goals are the most important to you and how we can help you to achieve your aims. Once we have received information from your scheme and yourself, we will be able to calculate our fee. At this point we will issue you with a document called ‘Your Personalised Charges’ you will need to confirm that you understand and accept our charges before we can proceed to the next stage. Abridged Advice Following our Initial Consultation in respect of a Safeguarded / Defined Benefit scheme, we may send you an ‘Abridged Advice’ report. Abridged advice is a form of advice introduced by our regulator, the Financial Conduct Authority (FCA) which allows Financial Advisers to provide a low-cost alternative to ‘full’ advice. Abridged advice allows us to recognise clients for whom a pension transfer is unlikely to be suitable and provide you with advice without you incurring the higher costs of the full advice process. If you receive an Abridged Advice report, you can request that we proceed to ‘full’ advice but this would incur the full fee and our advice may be unchanged. Focused Recommendations Pensionhelp provides focused recommendations in respect of pension and retirement planning. We will analyse all the information you supplied at your initial consultation and, based on your discussions about your current circumstances and financial objectives, will prepare a draft report focusing on your retirement planning. We will contact you to discuss our recommendations and confirm your understanding. We will then issue you with our final report. Where we recommend action such as a transfer of your pension, this will include a recommendation for the most suitable product, provider and, for investments, funds or portfolio, chosen from all those available, for the specific issues on which you have asked us to advise. We may also recommend that you take no action, or if your existing pensions provide benefits, we may recommend that you take benefits from your existing scheme(s). The report will not provide you with a comprehensive financial planning strategy. Implementation Once you have decided on the course of action you wish to take, where relevant, we will implement the recommendation. This could involve liaising with product providers on your behalf, dealing with all the paperwork and keeping you informed of progress until implementation is complete. You will need to provide us with accurate personal details to facilitate this process. This stage may involve putting in place new arrangements and transferring, terminating or selling existing plans, policies, investments and other arrangements. It may involve signing additional paperwork. Sometimes, no immediate action is required to implement our advice. CLEAR FOCUS Transactional and
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Samples: Service and Fees Agreement, Service and Fees Agreement, Service and Fees Agreement
Initial Consultation. The Initial Consultation is sometimes referred to as a ‘Fact Find’ or a ‘Confidential Financial Review’. This part of the advice process starts once you have agreed to take regulated advice. At this point we are looking to gather as much relevant information from you about what you are looking to achieve. We will ask you about your circumstances, current financial position and your financial goals. This is so we can understand the factors that are important to you. We will assess your risk profile and your capacity to bear loss. We will look at your financial experience and the wider issues that you are looking to achieve through taking financial advice. This process will start with an Initial Case Handler and will then be passed to our advice team. We may have to contact you several times to gather the information we require. At this stage it may be evident that all of your goals cannot be realistically achieved, and we can explore the different outcomes with you. If relevant there may be areas that are not as important for you and at the end of this meeting, it is our aim that we are in agreement as to what your goals are, and which of these goals are the most important to you and how we can help you to achieve your aims. Once we have received information from your scheme and yourself, we will be able to calculate our fee. At this point we will issue you with a document called ‘Your Personalised Charges’ you will need to confirm that you understand and accept our charges before we can proceed to the next stage. Abridged Advice Following our Initial Consultation in respect of a Safeguarded / Defined Benefit scheme, we may send you an ‘Abridged Advice’ report. Abridged advice is a form of advice introduced by our regulator, the Financial Conduct Authority (FCA) which allows Financial Advisers to provide a low-cost alternative to ‘full’ advice. Abridged advice allows us to recognise clients for whom a pension transfer is unlikely to be suitable and provide you with advice without you incurring the higher costs of the full advice process. If you receive an Abridged Advice report, you can request that we proceed to ‘full’ advice but this would incur the full fee and our advice may be unchanged. Focused Recommendations Pensionhelp provides focused recommendations in respect of pension and retirement planning. We will analyse all the information you supplied at your initial consultation and, based on your discussions about your current circumstances and financial objectives, will prepare a draft report focusing on your retirement planning. We will contact you to discuss our recommendations and confirm your understanding. We will then issue you with our final report. Where we recommend action such as a transfer of your pension, this will include a recommendation for the most suitable product, provider and, for investments, funds or portfolio, chosen from all those available, for the specific issues on which you have asked us to advise. We may also recommend that you take no action, or if your existing pensions provide benefits, we may recommend that you take benefits from your existing scheme(s). The report will not provide you with a comprehensive financial planning strategy. Implementation Once you have decided on the course of action you wish to take, where relevant, we will implement the recommendation. This could involve liaising with product providers on your behalf, dealing with all the paperwork and keeping you informed of progress until implementation is complete. You will need to provide us with accurate personal details to facilitate this process. This stage may involve putting in place new arrangements and transferring, terminating or selling existing plans, policies, investments and other arrangements. It may involve signing additional paperwork. Sometimes, no immediate action is required to implement our advice. CLEAR FOCUS Transactional andReviews By Another Financial Adviser If your pension case was referred to us through an introducer, you may have agreed review terms with them. Your ongoing reviews will be completed independently of Pensionhelp. CLEAR
Appears in 1 contract
Samples: Service and Fees Agreement
Initial Consultation. The Initial Consultation is sometimes referred to as a ‘Fact Find’ or a ‘Confidential Financial Review’. This part of the advice process starts once you have agreed to take regulated advice. At this point we are looking to gather as much relevant information from you about what you are looking to achieve. We will ask you about your circumstances, current financial position and your financial goals. This is so we can understand the factors that are important to you. We will assess your risk profile and your capacity to bear loss. We will look at your financial experience and the wider issues that you are looking to achieve through taking financial advice. This process will start with an Initial Case Handler and will then be passed to our advice team. We may have to contact you several times to gather the information we require. At this stage it may be evident that all of your goals cannot be realistically achieved, and we can explore the different outcomes with you. If relevant there may be areas that are not as important for you and at the end of this meeting, it is our aim that we are in agreement as to what your goals are, and which of these goals are the most important to you and how we can help you to achieve your aims. Once we have received information from your scheme and yourself, we will be able to calculate our fee. At this point we will issue you with a document called ‘Your Personalised Charges’ you will need to confirm that you understand and accept our charges before we can proceed to the next stage. Abridged Advice Following our Initial Consultation in respect of a Safeguarded / Defined Benefit scheme, we may send you an ‘Abridged Advice’ report. Abridged advice is a form of advice introduced by our regulator, the Financial Conduct Authority (FCA) which allows Financial Advisers to provide a low-cost alternative to ‘full’ advice. Abridged advice allows us to recognise clients for whom a pension transfer is unlikely to be suitable and provide you with advice without you incurring the higher costs of the full advice process. If you receive an Abridged Advice report, you can request that we proceed to ‘full’ advice but this would incur the full fee and our advice may be unchanged. Focused Recommendations Pensionhelp Direct provides focused recommendations in respect of pension and retirement planning. We will analyse all the information you supplied at your initial consultation and, based on your discussions about your current circumstances and financial objectives, will prepare a draft report focusing on your retirement planning. We will contact you to discuss our recommendations and confirm your understanding. We will then issue you with our final report. Where we recommend action such as a transfer of your pension, this will include a recommendation for the most suitable product, provider and, for investments, funds or portfolio, chosen from all those available, for the specific issues on which you have asked us to advise. We may also recommend that you take no action, or if your existing pensions provide benefits, we may recommend that you take benefits from your existing scheme(s). The report will not provide you with a comprehensive financial planning strategy. Implementation Once you have decided on the course of action you wish to take, where relevant, we will implement the recommendation. This could involve liaising with product providers on your behalf, dealing with all the paperwork and keeping you informed of progress until implementation is complete. You will need to provide us with accurate personal details to facilitate this process. This stage may involve putting in place new arrangements and transferring, terminating or selling existing plans, policies, investments and other arrangements. It may involve signing additional paperwork. Sometimes, no immediate action is required to implement our advice. CLEAR FOCUS Transactional and
Appears in 1 contract
Samples: Service and Fees Agreement
