Financial Planning

There are four stages to the financial planning process, each of which is separately costed, although the initial consultation is provided free of charge.

Finantial Planning

Initial Consultation

The initial consultation will consist of:

  • An initial meeting with one of our qualified Independent Financial Advisers This is often referred to as the ‘Factfind’
  • An opportunity to ask questions and understand what we do
  • A critical Opportunity for us to establish your financial needs and goals
  • Discuss our service propositions and costs involved

The cost of this initial meeting is met by Acorn

Financial Review and Recommendation

We will carry out an extensive assessment of your financial circumstances at the outset to establish your financial planning requirements. This will include:

  • understanding your situation by gathering information about your existing financial arrangements and full personal circumstances;
  • understanding of your investment knowledge and attitude and tolerance towards investment risk;
  • recommendation of an asset allocation model that matches your investment risk profile and the subsequent assessment and suitability of any existing investments;
  • analysis and design of your investment strategy
  • presentation of your recommendation;

There is a charge of £500 for this service however, this is only payable should you decide not to implement our recommendations as usually we would offset this fee against the adviser charge we receive at the arranging and setting up stage.

When we provide you with our suitability report it will be your decision whether to implement our recommendations either completely or in part. If you wish to only implement part of our recommendation then costs will be re-calculated accordingly.

Arranging and Setting up your financial plan

The arranging and setting up of our investment recommendation includes where appropriate:

  • Handling of all fund and policy administration on your behalf
  • Regular updates to keep you informed of progress
  • Ensuring all your documents are issued in line with your expectations
  • Confirmation of all actions taken on your behalf in writing

On-going care package, Services and Reviews

Your financial and personal objectives may change over time due to changes in your lifestyle or circumstances. We believe it is essential to ensure that the financial plan we recommend continues to meet your lifestyle and investment objectives. Our on-going care package includes but is not limited to:

  • Annual structured reviews
  • Assessment of your current circumstances and any changes to your plans that are needed
  • Regular updates and information regarding your investments
  • A choice of differing levels of support depending on your needs
  • On-going support with correspondence and administration issues

Cash flow modelling.

Sometimes the best advice can be to do nothing at all but how would you know that? Well our advisers can run complex cash flow modelling software and provide you with a financial plan giving you illustrations of what your investments, income and financial future could look like. For this service there is a minimum charge of £750

Areas of Advice offered by our Independent Financial Advisers include but are not limited to the following:

  • ISAs
  • Pensions
  • Unit Trusts
  • Investment Bonds
  • Open Ended Investment Companies (OEIC)
  • Enterprise Investment Schemes (EIS)
  • Phased retirement and Income Drawdown
  • Structured Deposits
  • Venture Capital Trusts (VCT)
  • Exchange Traded Funds (ETF)
  • Investment Trusts (IT)
  • Annuities
  • Term Assurance
  • Income Protection
  • Critical Illness Cover
  • Relevant Life Cover
  • Business Protection

We do not provide advice on individual shares or private equity investments.

Our General Insurance and Protection Services and Costs

Similar to our investment services above, we will provide you with a personal and financial review prior to making our recommendation to you. As with our Investment advice our Protection Advice is Independent, and whole of market.

It is important you know we act as an intermediary on behalf of you, the customer.

Should you accept our recommendation we will arrange the implementation for you. The reasons for our recommendations will also be provided to you in a written report.

We may also receive commission from the product provider which we will make you aware of during our advice meetings. You will not be subject to VAT for this service.

You will receive a quotation which will tell you about any other fees relating to any particular insurance policy.

Benefits we may receive

We advise on a range of products from a variety of firms; we may receive certain non-monetary benefits from these firms, which are used to enhance the quality of service we provide to you. Benefits we may receive include access to technical services, information technology support or the supply of product literature.

Client Agreement for Investments & Insurances.

Our services

Acorn Wealth Management Group is able to act on your behalf in advising you on investments and non-investment insurance contracts. We offer products and services as follows:

  • Investments – we offer an Independent advice service. We will recommend investments based on a comprehensive and fair analysis of the market. We will place no restrictions on the Investment Markets we will consider before providing investment recommendations, unless you instruct us otherwise. We will however, only make a recommendation when we know it is suitable for you.
  • Non-investment protection contracts – we offer non investment protection products e.g. term assurance, income protection and critical illness from a range of insurers.

We offer you an initial consultation at our expense during which we will describe our services more fully and explain the payment options. If you decide to go ahead, we will:

  • Gather and analyse personal financial information about you and your aims and objectives;
  • Recommend and discuss any action we think you should take and, with your agreement, arrange relevant solutions for you.

Client Classification

We treat all our clients as “retail Clients” unless you request otherwise. This means you are provided with the highest level of protection under the regulatory system and should have the right to take any complaint to the Financial Ombudsman Service.

Our Recommendations

Any advice or recommendation that we offer to you, will only be given after we have assessed your needs and considered your financial objectives and attitude to any risks that may be involved. We will also take into account any restrictions that you wish to place on the type of products you would be willing to consider.

We will confirm our recommendations to you in a suitability report along with details of any special risks associated with the products recommended.

Conflicts of Interest

Any advice we provide will be in accordance with that disclosed in our initial disclosure document which will be provided to you during our first meeting. Occasions may arise where we or one of our clients have some form of interest in business being transacted by you. If this happens or we become aware that our interests or those of one of our clients conflict with your interests, we will write to you and obtain your consent before we carry out your instructions, and detail the steps we will take to ensure fair treatment.

Service and Standards

We are committed to providing the highest standard of financial advice and service. Your interests are very important to us and for any advice or service we provide we will:

  • be open, honest and transparent in the way we deal with you;
  • not place our interests above yours;
  • communicate clearly, promptly and without jargon;

Our Investment Services and Costs

We will provide you with our Key Facts disclosure document. We will comprehensively cover the contents of this during our initial meeting. You will recall that we comprehensively covered the content of this document which covers the services we provide and what they cost. You confirmed you fully understood this and were happy to proceed on the basis as confirmed within our service proposition agreement which you have signed.

It is important that you keep the client agreement, service proposition and CIDD document together and if you have any questions you contact us immediately.

How we are paid

We charge for our services by way of an Adviser charge. This charge is based on a percentage of the amount you invest.

or

We charge for our services by way of a fee. These fees are based on an hourly rate

or

We charge for our services by way of a fee. These fees are on a fixed fee basis.

VAT

Under current legislation our services are not subject to VAT but should this change in future, and where VAT becomes due, we will notify you before conducting any further work.

Cancellation rights

In most cases you can exercise a right to cancel by withdrawing from the contract. Generally you will normally have a 30 day cancellation period for a life, pure protection, payment protection or pension contracts and a 14 day cancellation period for all other contracts.

Instructions for exercising the right to cancel, if applicable, will be contained in the relevant product disclosure information which will be issued to you. If you cancel a single premium contract, you may be required to pay for any loss you might reasonably incur in cancelling it which is caused by market movements. This means that, in certain circumstances, you might not get back the full amount you invested if you cancel the policy.

Client money

Acorn Wealth Management Group is not permitted to handle client money or handle cash and we cannot accept a cheque made out to us (unless it is in respect of an item for which we have sent you an invoice).

Documentation

We will endeavour to make arrangements for all your investments to be registered in your name unless you first instruct us otherwise in writing. All policy documents will be forwarded to you as soon as practicable after we receive them. If there are a number of documents relating to a series of transactions, we will normally hold each document until the series is complete and then forward them to you.

Instructions

We prefer our clients to give us instructions in writing via email or letter, to aid clarification and avoid future misunderstandings. We will, however, accept oral instructions provided they are confirmed in writing.

Material Interest

We will act honestly, fairly and in your best interests. Occasionally situations may arise where we or one of our other clients have some form of interest in business transacted for you. If this happens or we become aware that our interests or those of one of our other clients conflict with your interest, we will write to you and obtain your consent before we carry out your instructions, and detail the steps we will take to ensure fair treatment.

Complaints

If you wish to register a complaint, please write to Acorn Wealth Management Group, Crafton House, Rosebery Business Park, Mentmore Way, Poringland, Norwich, NR14 7XP or telephone 01603 234567

A summary of our internal complaints handling procedures for the reasonable and prompt handling of complaints is available on request and if you cannot settle your complaint with us, you may be entitled to refer it to the Financial Ombudsman Service.

Data Protection

The information you will provide is subject to the Data Protection Act 1998 (the “Act”). By signing this document you consent to us or any company associated with us for processing, both manually and by electronic means, your personal data for the purposes of providing advice, administration and management.

“Processing” includes obtaining, recording or holding information or data, transferring it to other companies associated with us, product providers, the FCA or any other statutory, governmental or regulatory body for legitimate purposes including, where relevant, to solicitors and/or other debt collection agencies for debt collection purposes and carrying out operations on the information or data.

In order to provide services to you we may be required to pass your personal information to parties located outside of the European Economic Area (EEA) in countries that do not have Data Protection Laws equivalent to those in the UK. Where this is the case we will take reasonable steps to ensure the privacy of your information.

The information provided may also contain sensitive personal data for the purposes of the Act, being information as to your physical or mental health or condition; the committing or alleged committing of any offence by you; any proceedings for an offence committed or alleged to have been committed by you, including the outcome or sentence in such proceedings; your political opinions; religious or similar beliefs; sexual life; or your membership of a Trade Union.

If at any time you wish us or any company associated with us to cease processing your personal data or sensitive personal data, please contact The Data Protection Officer on 01603 234567 or in writing via email at Acorn Wealth Management Group, Crafton House, Rosebery Business Park, Mentmore Way, Poringland, Norwich, NR14 7XP

You may be assured that we and any company associated with us will treat all personal data and sensitive personal data as confidential and will not process it other than for a legitimate purpose. Steps will be taken to ensure that the information is accurate, kept up to date and not kept for longer than is necessary. Measures will also be taken to safeguard against unauthorised or unlawful processing and accidental loss or destruction or damage to the data.

Subject to certain exceptions, you are entitled to have access to your personal and sensitive personal data held by us. You may be charged a fee (subject to the statutory maximum) for supplying you with such data.

View Our Privacy Terms and Disclosure

Anti-money laundering

We are required by the anti money laundering regulations to verify the identity of our clients, to obtain information as to the purpose and nature of the business which we conduct on their behalf, and to ensure that the information we hold is up-to-date. For this purpose we may use electronic identity verification systems and we may conduct these checks from time to time throughout our relationship, not just at the beginning.

Law

This client agreement is governed and shall be construed in accordance with English Law and the parties shall submit to the exclusive jurisdiction of the English Courts.

Termination of Authority

The authority to act on your behalf may be terminated at any time without penalty by either party giving seven days’ notice in writing or via email to that effect to the other, but without prejudice to the completion of transactions already initiated.

Who Regulates us?

Acorn Wealth Management Group is authorised and regulated by the Financial Conduct Authority. Our FCA Register number is 823702

Our permitted business Is advising on investments for both private and corporate clients providing financial and protection planning in line with client goals.

You can check this on the FCA’s Register by visiting the FCA’s website https://register.fca.org.uk/ or by contacting the FCA on 0800 111 6768.

What do you do if you have a complaint?

If you wish to register a complaint, please write to Acorn Wealth Management Group, Crafton House, Rosebery Business Park, Mentmore Way, Poringland, Norwich, NR14 7XP. A summary of our internal complaints handling procedures for the reasonable and prompt handling of complaints is available on request and if you cannot settle your complaint with us, you may be entitled to refer it to the Financial Ombudsman Service at www.financial-ombudsman.org.uk or by contacting them on 0800 023 4 567.

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 limit of £50,000, whereas insurance business is covered for 90% of the claim, without any upper limit.

Disclaimer

The information available through our website is for your general information and use and is not intended to address your individual requirements. In particular, the information does not constitute any form of advice or recommendation by Acorn Wealth Management Group Ltd and is not intended to be relied on by readers of this website in making (or refraining from making) any investment decision. Regulated independent advice should be sought before making any financial decision. Past performance is not necessarily a guide to future returns. Investments may fall as well as rise in value and you may not get back your initial investment.

Complaints Procedure

Please note that some of our services are not regulated by the FCA. These include (but are not limited to) Cash Flow Modelling, Estate Planning, Tax Planning/assistance with self-assessment, etc.