About our services and costs

  1. The Financial Conduct Authority (FCA)

    The FCA is the independent watchdog that regulates financial services. This document is designed by the FCA to be given to consumers considering buying certain financial products. You need to read this important document. It explains the service you are being offered and how you will pay for it.

  2. Which service will we provide you with?

    • Independent advice – We will advise and make a recommendation for you after we have assessed your needs. Our recommendation will be based on a comprehensive and fair analysis of the market.
    • Restricted advice – We will advise and make a recommendation for you after we have assessed your needs, but we only offer advice on limited types of products, or products from one company or a limited number of companies.
    • No advice – You will not receive advice or a recommendation from us. We may ask some questions to narrow down the selection of products that we will provide details on. You will then need to make your own choice about how to proceed.

  3. What will you have to pay us for our services?

    You will pay for our services on the basis of an adviser charge.

    We will discuss your payment options with you and answer any questions you have. We will not charge you until we have agreed with you how we are to be paid.

    We will discuss with you the basis of our charges, based on the types(s) of work we are asked to undertake for you.

    We will discuss with you when you will have to pay our fees, both initial and ongoing.

    All fee amounts quoted below are exclusive of VAT, expenses and disbursements; these will be added to the invoice if applicable.

    Advised services

    For our advised services, you will pay us via an adviser charge.

    Initial advice service

    Our initial advice will be appropriate for you, based on your requirements and circumstances at that time. We will not ensure that any initial advice remains suitable for you at a later date, unless you select to receive ongoing services from us.

    Ongoing services

    In addition to our initial advice services, you could ask us to undertake further services on an ongoing basis. Details of any ongoing services that we offer are detailed later within this document.

    You may at any time cancel an Ongoing Advice Service by serving your notification of cancellation to us in writing. Upon receipt of your cancellation notice for an Ongoing Advice Service we will arrange for any future payment of any associated charges to cease.

    Our typical adviser charges are noted below. The exact amount may be more or less than this, but will be specifically agreed with you based on the work you ask us to do for you.

    We will confirm the actual adviser charges in writing within our separate ‘Services & Payment Agreement’, before providing our services to you.

    If we do not agree a fixed adviser charge with you at outset, you may ask us for an estimate of how much in total we might charge for any service(s) provided. You may also ask us not to exceed a given amount without checking with you first.

    The cost of our services

    Payment for initial advice services

    Our typical charges are:

    We will charge you an initial ‘adviser charge’ of £225 (How about an hour promotion) for gathering information about your circumstances and needs.

    If you decide to instruct services beyond this initial meeting we will tell you how much the total initial ‘adviser charge’ will be before you complete an investment, but you may ask for this information earlier.

    AND

    A one-off fixed ‘adviser charge’ of £750 the ‘Report Fee’ to cover the following services

    • Researching the market to establish a suitable investment option
    • Recommend any suitable investment products

    The initial adviser charge of £225 paid as part of our ( How about an hour promotion) will be deducted from the report fee if instructed.

    After this we will charge you an adviser charge (the implementation charge) based on the following:

    A one-off ‘adviser charge’ as a percentage of the initial investment amount as follows:

    £1 – £ 750,000 1.5% – of the amount invested subject to a minimum of £500 and a maximum of £9,000
    £ 750,000 and above By negotiation

    Example:

    If you invest a lump sum of £100,000 into a personal pension plan, we would charge an ‘adviser charge’ of 1.50% of the amount invested, which would mean an initial ‘adviser charge’ of £1,500

    We will tell you how much the total initial ‘adviser charge’ will be before you complete an investment, but you may ask for this information earlier.

    The above example is an indicative cost. We will tell you how much the total initial ‘adviser charge’ will be before you complete an investment, but you may ask for this information earlier.

    OR

    An initial advise charge of 40% of the first 5 months regular contributions,subject to a minimum adviser charge of £600

    For example if you contribute £250 a month into a personal pension our initial adviser charge will be £500 (£250 x 40% = £100 x 5 =£ 500 – minimum fee will apply therefore the fee will be £600)

    We will tell you how much the total initial ‘adviser charge’ will be before you complete an investment, but you may ask for this information earlier.

    Payment for ongoing services

    Our typical charges are:

    There will be an additional charge for any ongoing work, such as periodic or ongoing reviews we carry out on your behalf. We will confirm the rate, frequency and length of any ongoing service(s) before commencing that ongoing service.

    Ongoing services offered:

    • Ongoing meetings
    • Reporting
    • Investment monitoring and review
    • Contact
    • Administration
    • Professional services

    More details on the services we offer will be provided separately.

    Example:

    Type of service: Annual Review Meeting
    Unlimited Access by phone and e-mail to your adviser.

    How much our ongoing charges might cost if based on a percentage of fund value:

    Based on a fund value of £ 100,000, an ongoing charge of 0.5% of this amount would mean that it would cost £ 500 per annum to provide an ongoing service (£ 100,000 x 0.5% = £ 500). If the fund value increases over time, the ongoing charge then increases accordingly. Conversely, if the fund value decreases over time, then the ongoing charge will reduce.

    How much our ongoing charges might cost if based on a percentage of regular contributions:

    Based on a regular contributions of £ 250 an ongoing charge of 3 % of this amount would mean that it would cost £ per contribution from month 6 to provide an ongoing service (£ 250 x 3% = £ 7.50).

    Typically the ongoing adviser charge will be deducted from the value of your investment although we can invoice you directly if required.

    We will agree what will be charged before any service(s) provided and the amount will be confirmed within our ‘Service & Payment Agreement’.

    Your payment options

    Independent advice service

    Settling your adviser charge in a single payment

    Following on from our initial meeting, if you request additional services or accept any recommendations we have made then you will pay us an adviser charge which will become payable on completion of our work.

    You will be required to settle the payment of your adviser charge on completion of our work within 28 business days. We accept cheques and direct payments to the company bank account. We do not accept payment by cash. You will be provided with a receipt upon payment.

    AND/OR

    Settling your adviser charge by instalments

    The option to pay by instalments is only available for the payment of the adviser charge on regular premium products. Payment by instalments does not relate to any ongoing charges payment which we may charge for providing an ongoing service.

    Paying by instalments through your recommended product

    If you buy a financial product, you can choose to have your adviser charge deducted from the product through instalments. Although you pay nothing to us up front, that does not mean that our service is free. You still pay us indirectly through deductions from the amount you pay into your product. These deductions will pay towards settling the adviser charge. These deductions could reduce the amount left for investment.

    How your payment plan works:
    Total monthly premium payable £ 250
    Total cost of advice £ 600
    Monthly payment for advice £ 50
    Length of repayment period 12 months
    Monthly payment:
    £ 50 per premium    		 ➜ Advice £ 50
    Period: 12 months ➜ Invested: £ 200

    If you choose to pay for the advice you receive through instalments, these instalments will be deducted from the premium you pay each month and allocated towards settling the adviser charge. For example, the total cost of advice is £600. You have been recommended a regular premium product of which £250 will be paid each month. £50 will be taken from this amount to pay off your adviser charge over 12 months. The remaining £200 will be invested during this time. At the end of this period the adviser charge would have been settled in full. From month 13 the full £250 will be invested.

    Keeping up with your payments

    If you choose to pay for the advice you receive via instalments, the full amount of the adviser charge will need to be paid irrespective of whether:

    • the recommended product(s) is /are cancelled before the full amount is paid; and/or
    • you subsequently decide to transfer your business to another firm / financial adviser.

    Any outstanding amounts, as at the date of cancelling the recommended product / transferring to another firm or adviser, will be due to be paid in full within 28 business days of the termination / transfer date. An invoice will be raised for the full outstanding amount.

    ‘Non advised’ services
    The cost of our services

    We will tell you how we get paid and the amount before we carry out any business for you.

    Information about other costs and associated charges

    There may be other costs, including taxes, that are payable through other parties (such as the product provider) that we may not be party to. Such charges are normally disclosed in relevant third party documentation, for example a Key Features Document.

  4. Who regulates us?

    Weybrook Financial Management Limited, 13 Longmead, Guildford Surrey, GU1 2HN is authorised and regulated by the Financial Conduct Authority. Our Financial Services Register number is 555567

    Our permitted business is advising on, arranging and making arrangements with a view to investments.

    You can check this on the Financial Services Register by visiting the FCA’s website or by contacting the FCA on 0800 111 6768.

  5. What to do if you have a complaint

    If you wish to register a complaint, please contact us:

    …in writing: Write to Mr P Grant.Weybrook Financial Services Ltd, Complaints Department, 13, Longmead, Guildford Surrey, GU1 2HN
    …by phone: Telephone 01483 888940

    If you cannot settle your complaint with us, you may be entitled to refer it to the Financial Ombudsman Service.

  6. Are we covered by the Financial Services Compensation Scheme (FSCS)?

    We are covered by the FSCS. You may be entitled to compensation from the scheme if we cannot meet our obligations. This depends on the type of business and the circumstances of the claim.

    Most types of investment business are covered up to a maximum of £50,000.

    Further information about compensation scheme arrangements is available from the FSCS.