PWS charges fees in three ways; a fixed fee to produce your financial plan, a fixed ongoing fee to review this plan, and an ongoing fixed fee to review your portfolio. Your fees will be determined by the services you ask us to provide.

Our fees are designed to be fair and easy to understand. There are no exit charges, hidden fees, or funny business. Most importantly, you get the chance to test the quality of our work before you pay us a penny.

We suggest an informal meeting, to begin with, at no charge. This helps both parties establish whether we are a good fit to develop a professional working relationship. We can discuss our fees in detail here.

Initial fees

Our fixed fee for producing a standard financial plan involving a basic review of each area of planning (retirement, estate planning etc.) is £1,500. This involves the following:

• Creating a lifetime financial forecast to find out what you could achieve.

• Assessing the level of investment risk you should take.

• Assessing the suitability of any financial products you hold.

• Selecting suitable investment portfolios.

• Selecting tax-efficient investment vehicles.

• Estimating your Inheritance Tax position now and in the future.

• Completing and administering documentation.

• Liaising with providers.

• Carrying out fund switches.

• Ensuring you are invested as quickly as possible.

• Keeping you informed of progress.

The basic fee will increase by £1,500 for each of the following if they need to be present within the plan:

• More than three non-standard pension or investment plans (ones we have not recommended you take out) needing a review.

• Planning to take income from your plans soon.

• Specialist planning such as Lifetime Allowance planning, IHT planning, Carry forward analysis etc.

• Third parties such as external fund managers, businesses, trusts or charities.

• Dealing with a Defined Benefit Transfer counts as four specialist areas and adds £4,000 to the fee.

So, if someone had a financial situation that involved more than three non-standard plans and a carry forward calculation, the fee would be £4,500 (Basic fee of £1,500 plus 2 x £1,500)

Your Financial Planner will advise you on the fee level given your situation. We only ask for payment after the work has been done and you are 100% happy with Your Financial Plan.

Ongoing fees

Financial Planning Advice

Once the initial financial plan is in place, our ongoing advice and services aim to keep you focused on meeting your goals. Naturally, aspects of your finances and your life will change over time.

Our ongoing advice and service helps our clients adapt their planning to these changes before and after they occur. For most clients, this includes:

• Access to our portfolio advice service.

• Ongoing updates to your financial plan and cashflow forecast.

• Help with paperwork and other administrative matters.

• Access to your financial planner via email and telephone during office hours.

• Annual planning meetings with your Financial Planner.

The fee for this is £208 pm (£2,500 p.a.) for one meeting a year or £333.33 pm (£4,000 p.a.) for two meetings a year. This fee will increase by £125 pm (£1,500 pa) for each specialist area which needs to be incorporated into the plan.

So, if someone had a requirement to review a financial plan and this involved looking at taking an income from the portfolio and two meetings a year, the cost for this would be £5,500 p.a. (Basic fee of £4,000 plus £1,500).

Each complex area usually requires a meeting, so we do not, for example, offer one meeting a year if the planning involves two complex areas.

Cost cap

We cap our ongoing fees at 1%. To do this, we may pro-rata some of the services offered. An example might be reviewing a plan every 18 months rather than once a year.

Additional Costs

In addition to our fees, additional charges may be associated with the funds we recommend, the structures or pensions we invest in and/or the wrap platform (also referred to as custodian fees).

Where applicable, we will inform you of the costs affecting your investment and pensions. The specific amount you will pay depends on the portfolio you are invested in, the exact services you ask us to provide and the amount you invest with us. Using the example above, if the client in the example above invested their money into a standard portfolio, the additional costs would be as follows; costs of the portfolio 0.30% (£3,000) and wrap costs 0.15% (£1,500). Including the PWS fee of £5,500 per annum gives a total cost of ownership of 1.00% (£10,000 on a £1,000,000 investment).

We will always aim to deliver an overall level of costs that is below the average cost associated with wealth managers across the country. We will also aim to deliver to add far more value than a simple wealth manager could deliver via robust financial planning.