How We Work
We appreciate that every client is different and we adapt our process to meet your requirements. For a typical client requesting a full financial review here's how we formulate the plan to achieve your goals.
Phase 1 - About You
We meet together to discuss your personal circumstances and your current financial situation. We'll go into detail so that we can draw up a complete picture of where we are now, and where we want to arrive.
We'll ask about you, your occupation, your savings & investments, your mortgage, your current liabilities and your tax position, and we'll explain how all of this information builds a profile which will help us to formulate our plan.
Phase 2 - Your Goals & Ambitions
Next we discuss your objectives and your aspirations, as well as any concerns that may arise. We'll discuss risk and reward, and your attitude towards investment risk, as this feedback from you will enable us to construct an investment portfolio which is a major part of the plan.
You'll see as we move forward in our discussions how all this fits into place in your personal plan and agree the likely cost for our advice.
Phase 3 - Analysis
We'll discuss with you our analysis of your current position, and outline our initial thoughts for the plan. We'll present our recommendations and actions required for you to achieve your goals.
Phase 4 - How to get there
So now we know where we are and where we want to be. In this phase we present your Personal Financial Plan which maps out the journey to your destination, and we establish the best and most time-efficient route to get you there.
We discuss with you your current income and expenditure, your assets and liabilities, and how your existing finances can be best utilised towards the achievement of your financial goals. Your Personal Financial Plan will also agree the cost of achieving your objectives, and now we ask your approval and confirmation of the plan.
Phase 5 - Implementation
It's time to implement the plan. Every course of action we have recommended and agreed with you is now put into motion.
Phase 6 - Review the Plan & Progress Updates
If required, review dates will be agreed and can take place annually or more regularly if required or requested, ongoing fees will be agreed as to which service level is required. The purpose of regular monitoring of your Personal Financial Plan is to enable you to clearly see progress towards reaching your financial goals, and for us to make any course adjustments that may be required.
Working closely with you we will explain overall how the plan is going and agree with you any modifications to keep it on track towards the achievement of your goals.
How We Get Paid
On receiving an enquiry we will arrange a preliminary discussion, which can be completed either face-to-face or over the telephone. The purpose of this initial discussion is to try to establish whether we are able to assist with your needs and objectives. There is no charge for this preliminary discussion and no obligation on either side.
After this preliminary discussion, we will explain the various methods by which you can pay for our services. There are four alternatives, which your Adviser will discuss with you in detail.
They are:
- Flat fee,
- Percentage of amount invested (typically between 1 and 3%)
- A combination of the above, or
- Commission from the product provider *
*In some cases there is an alternative option of paying through commission built into the product. If you prefer to pay by commission, we will always tell you the amount of any commission we earn.
If you are paying by fee we will provide an estimate of the cost before we start work.
If you ask us to arrange a mortgage for you we can be paid by a fee, commission from the lender or a combination of both. We will usually charge a fixed fee of £250 with £100 being paid (non- refundable) prior to submission of the mortgage application. You will receive a Key Facts illustration when considering a particular mortgage, which will tell you about any fees relating to it.
Regardless of your preferred payment method, no charges of any description will ever be made without prior agreement.
On-going service and regular reviews
We also offer a range of different on-going service levels and propositions. This is to assure that you current propositions continue to meet your needs and aspirations. More information on the added benefits of this service and typical costs can be found on the news section of our website.
Formal complaints
If you wish to register a complaint, please write to
The Compliance Manager, Vision Financial Advisers Ltd, Orbit Business Centre, Rhydycar Business Park, Merthyr Tydfil CF48 1DL or telephone 01443 694944.