Wealth of Advice FAQs

FREQUENTLY ASKED QUESTIONS


Since its establishment in 2012, Wealth of Advice has been providing clients with independent, impartial financial advice to its clients for over five years, providing guidance on retirement planning, investments and pension transfers.

We pride ourselves on clarity and transparency when working with our clients on their financial planning. To that end, we have set out to provide answers to some of our most frequently asked questions.

If you have any further queries, please get in touch via the contact form below.


 

There is no fee for the initial meeting during which we discuss your financial needs and objectives and the areas in which you require our advice.

From that point, depending on what you require us to do for you, there are two charges for our advice: initial and ongoing fees.

This means that clients will be charged an initial fee, which is typically a percentage of the amount being invested. An ongoing fee is then charged annually, typically at a rate of 0.8% of the fund being invested and is paid monthly. Our ongoing fee is lower than our competitors who usually charge 1% annually.

During your initial meeting with an adviser, the fees will be explained in more detail. Usually the initial fee covers the work that has been completed by your adviser, such as factfinding and preparing initial reports outlining your options and summarising what you have. The ongoing fee covers the regular reviews and our ongoing advice and management of your investments.

Before we proceed with any recommendations that will require you to pay us a fee, we will detail the fee due, as accurately as we can.

We can provide a more detailed fees guide, which includes examples of how much you are likely to be charged based on the size of your fund, on request.

We offer a number of core service propositions for every client, to meet your needs, including;

New Customers: All potential customers will receive an initial consultation provided at our cost during which we will explain how we work and how we charge for our services. We will also assess your needs at a high level and then agree with you how to proceed.

Face-to-Face: For most clients, if we are to help you to achieve your financial goals, on-going face-to-face advice is a necessity in order to discuss your situation and goals.

Investment Service: All clients are given advice on investment planning, and advice. As well as a review on how investments are performing.

Pensions Service: All clients are offered pensions advice, as well as reviews and consolidation of pensions.

Protection Service: All clients are given advice on all of the areas of protection and insurance which are relevant to them.

Availability of Services: Clients have the ability to contact their financial planner via phone calls, emails or post at any time. We endeavour to return phone calls or emails within 48 hours.

We don’t believe that there is a ‘one fits all’ scenario and therefore we offer three variations of client service propositions, they are; Prime, Premier and Platinum. Depending on the size of the fund being invested, clients will be given a different variation.

Size of Fund

Variation

Service Propositions

£0-£62,500

Prime

This proposition provides face-to-face meetings every two years which includes a review of your portfolio. During this meeting, we will update your records, re-appraise your financial objectives and provide updates on how your plans and policies have performed. Recommendations will be made for any re-balancing or switching of funds and policies. For those with numerous pensions and investments, we provide a consolidated portfolio valuation report. Every client will have a dedicated financial planner and access to our support team.

£62,501-£250,000

Premier

This proposition provides the same facilities as prime, but will include an annual meeting where a complete review of your financial strategy will be made and a financial ‘health check’ will be provided. We also offer a portfolio construction service which involves designing and constructing a suitable portfolio based on scientific risk profiling methodology and suitable asset allocation. This will suit customers with significant investments or complex financial planning requirements.

£250,000+

Platinum

This option provides the same facilities as premier, but includes unlimited face-to-face access between review dates. You will also have unlimited telephone and email access and will be given a priority response service. We also offer a tax planning service in conjunction with your accountant and other taxation advisers. This is suited to clients with substantial and diverse investments requiring ongoing monitoring or those with complex financial requirements.

We also offer a bespoke option which provides the opportunity to create a service specifically tailored to you. This will typically be for our high net worth sophisticated clients with complex financial needs.

Wealth of Advice is not authorised to hold client money, meaning that any monetary transactions are done directly between the client and the product provider, we are here to facilitate all advice needed for transactions on your behalf but never to hold your money.

You are not contractually obligated to stay with us, however we do hope that you won’t feel the need to change adviser. In the time that Chris has been giving advice, since 2003, he has developed many long-term relationships with clients and we rarely, if ever, see clients leave.

The Financial Conduct Authority (FCA) regulate financial services within the UK. It’s role is to protect consumers, keep the industry stable and promote healthy competition between service providers. Wealth of Advice is authorised and regulated by the FCA, which means we have permission to provide regulated products and services. We are authorised to provide advice on pensions and retirement planning, investments and insurance.

Our reference number is 563909 and you can find us on the FCA register at: https://register.fca.org.uk/

We are an independent financial planning firm, which means that we are not restricted in how we can advise you, unlike firms which are networked. We can provide independent advice and recommend all types of retail investments that could meet your needs and objectives. Financial planners that are part of a network are restricted and therefore can only recommend certain products, product providers or both.

At Wealth of Advice, we are authorised by the FCA to complete pension transfers. This is due to Chris being highly qualified, having completed all pension related examinations. We are experienced in handing pension transfers, having completed a number of transfers for existing clients.

We are authorised by the FCA to make pension transfers, which only pension transfer specialists have permission to do. We follow specific training and competence rules as well as have the appropriate qualifications in order to complete such transactions.

At Wealth of Advice we believe that professional financial advice can add significant value to individuals and businesses. As your partner in building wealth and security, we focus on the ways that we can help you to live the life that you want to live.

Choosing a financial partner is one of the most important decisions you will ever make. By engaging Wealth of Advice, you assure yourself of regular financial check-ups and access to new ideas brought to you by the team. We aim to act fairly and impartially at all times, and to communicate with you in a jargon-free, easy to understand manner.

We offer individually tailored financial planning solutions with a highly personalised touch. Our team is highly experienced and qualified to provide you with tailored solutions which will provide the best balance between your requirements and your budget.

Get in Touch

Find Us

Swale House,
Unit 3 Mandale Park,
Belmont Estate,
Durham,
DH1 1TH


Call Us

0191 384 1008


Email Us

Reviews and Ratings for Financial adviser Chris Breward, Exeter

Get in Touch

Find Us

Swale House,
Unit 3 Mandale Park,
Belmont Estate,
Durham,
DH1 1TH


Call us
Email us