Mike Grant has been my financial advisor since early 2006. He has given me sound professional advice and is extremely fair, efficient and thorough in his work. Mike is easy to talk to and I trust him implicitly. I have peace of mind about all things financial as I know that I can discuss them with Mike. J F, Surrey
How Services Are Paid For
An initial telephone discussion or meeting of up to an hour is offered without charge or obligation. The purpose of this session is for you to assess if you feel comfortable in using me, for me to obtain information on your personal and financial circumstances and for us to clarify your financial objectives and the nature of the work that you require. It is imperative that the advice has greater value than its cost. Normally I will not take you on as a new client unless I’m convinced of this. Value normally means expected benefits from investment returns or tax savings.
If you decide to appoint me as your IFA an hourly fee of £160 per hour applies for all work. An estimate of the total cost will however be provided in advance.
When a fee becomes due, normally on conclusion of the work a timesheet is sent with each invoice. This shows the work done, the relevant dates and the time spent in minutes.
The firm also offers an annual investment portfolio review service by separate agreement. Please note a minimum £250,000 is required. Here a fee of 0.6% per annum for all funds I manage on your behalf is charged. For this service the £160 per hour charge will not apply.
There are a variety of fee options which will be discussed with you. A pure fee applies when the work is fully chargeable by invoice. However for investment products there is an option of paying for advice through a product fee called an Adviser Charge. This has replaced commission and is an individually agreed fee that is built into the product sale i.e. it is paid for from your investment.
Commission may be payable to the firm from arranging pure insurance products. Unlike with most advisers initial commissions that are received are fully credited to you, typically by being offset against the cost of my work. This reduces or eliminates a directly invoiced fee. If the commission exceeds a fee, the excess will be rebated to you in some way. It may be re-invested into the insurance product to reduce premiums, used to cover the cost of other work, paid as a cash sum to you or kept on your timesheet as a credit for future use. Please note cash rebates are not made from investments or pensions.
Currently VAT is not levied on fees, but this may change in the future.
Seven Sisters, near Eastbourne
Montgo Consulting Ltd is authorised and regulated by the Financial Conduct Authority (FCA). Montgo Consulting Ltd’s FCA firm reference number is 606440.
Copyright © 2017 Montgo Consulting Ltd • Registered in England & Wales • Company no. 4918378
31 Beach Road, Eastbourne, East Sussex BN22 7EY • 01323 735303