Initial Fees – Lump Sum Investments. Transfers and/or Re-registrations
Our charge for this service is based on a percentage of the amount you invest and/or transfer. Our fixed fee of £500 will be deducted from any initial fee should you go ahead with our recommendation. These charges are applied as follows;
- For the first £99,999 of any investment – 2.5%
- Investment between £100,000 to £249,999 – 2% on whole fund
- Investment between £250,000 to £749,999 – 1.5% on whole fund
- Above £750,000 -1% on whole fund
Example 1: if we arrange an investment on your behalf for £50,000 our implementation fee would be £1,250. (£50,000 x 2.5% = £1,250).
Example 2: if we arrange investments on your behalf totalling £250,000 our implementation fee would be £3,750. (£250,000 x 1.5% = £3,750).
This payment can usually be taken from your investment when the policy provider receives it. For example, if you write a cheque which is sent to a recommended provider for £250,000 and the initial fee is £3,750, the actual investment will be £246,250 after our fee is paid to us. However, this can be paid by you directly should you wish to.
Acorn Wealth Management Group reserve the right to charge an hourly rate. Our hourly rates are as follows:
|Specialist advice||£300 per hour|
|Independent Financial Advice||£250 per hour|
|Paraplanner work||£150 per hour|
|Administration||£50 per hour|
You should note that when the fees are paid though your investment(s) it may reduce your personal tax thresholds and/or exemption levels. Where this happens, we will discuss it with you and confirm it in your personal recommendation report.
Our Ongoing Service & Fees
We understand life can change in an instant, as well as each year and we feel that a service reflecting this is at least as important as our initial recommendation. Therefore, we offer an ongoing service, which will be discussed during our initial meeting. These services include, but are not limited to, providing:
- Structured reviews to assess your circumstances at that time and how these may have affected your views about investments since we last met
- Regular updates about your holdings and a chance to discuss whether these continue to suit your needs
- Amendment to any plans accordingly, if required, as a result of our discussions
- Support with correspondence and administration issues you may have and with which we can assist you
The level of ongoing service you require at the time of, or before, making our recommendation(s) will be a separate agreement. This will take into account your differing ongoing support needs and the amount you have invested with Acorn Wealth Management Group Ltd. Typically, our costs range from 0.5% to 1% per annum and they are based on the value of your investment(s) at each 12 month anniversary. These fees are paid pro-rata in arrears.
Example: if the value of your investment(s) totalled £250,000 our yearly fees would range from £1,250 to £2,500.
The amount you pay will fluctuate with the value of your investment; if your investment increases in value the amount you pay us will also increase and if your investment falls in value the amount you pay us will decrease. Any change to the level of services throughout this agreement will result in pro-rata charges being applied”
Your Payment Options
We will agree separately the level of on-going services at the time of, or prior to, making our recommendation(s) to you. Typically our costs range from 0.5% to 1% per annum and are based on the value of your investment(s) at each 12 month anniversary, and are paid pro-rata in arrears. Therefore, if the value of your investment(s) totalled £50,000 our yearly fees would range from £250 to £500. The amount you pay will fluctuate with the value of your investment; if your investment increases in value the amount you pay us will also increase and if your investment falls in value the amount you pay us will reduce. Any change to the level of services throughout this agreement will result in pro-rata charge being applied.
1% Complex plans or Six monthly reviews
0.75 = 0-£750,000
0.50 = £750,000+
Example 1: if your investments are valued at £50,000 the ongoing care charge is 0.75% (providing you only required one review a year and you financial plan was not of a complex nature). We would receive £375. As this is less than the minimum ongoing service fee we would charge you £125 as the balance.</p
Example 2: if your investments are valued at £70,000 the ongoing care charge is 0.75%. We would receive is £525. As this is £25 pounds greater than our minimum charge no other charges would be applied.
Should you decide to cancel our agreement to provide on-going services you must provide written confirmation of your decision and we will cease your payments for these services within 7 business days and after collection of any due proportion of any period charges.
Our charges are guaranteed not to increase within the first 12 months of your contract with us. Should we need to increase our charges after this period, you will be given notice of this fact and the opportunity to decide whether to continue with the revised level of charges.