Fee Schedule and Terms of Business

Fee Schedule

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.

Which Service Will We Provide You With?

Independent advice - for Investments and pension business, we will assess a sufficient range of relevant products available on the market which is diverse in terms of product type and provider to ensure that your investment objectives can be suitably met. We are not limited in the type of product or provider in terms of having any close links with any firms or any contractual relationship with a third party that may impair the independent basis of our advice to you. When looking to address your protection needs, we will provide advice based on a fair and personal 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 would then need to make your own choice about how to proceed.

What Will You Have To Pay Us For Our Services?

Our fee structure reflects the high quality services we provide. We will agree, as far as possible, the fees payable before commencing any chargeable work on your behalf.

Becoming A Client

Discovery Meeting


An initial meeting without charge to determine your objectives and to establish whether or not our services are appropriate for you.

Planning Fees

Initial Planning fees are as follows:

Affinity Genus™ & Genus Plus™ £2,497

Planning fees cover items such as establishing your objectives, priorities and concerns, data gathering, technical analysis, research and preparation of Lifetime Cash flow forecasts as well as preparation and presentation of your Integrated Wealth Management Plan™ and associated recommendations reports as required. Please see our service documents for more detail on the services provided.


Standard Advice Implementation Fees

This is a % of assets under advice “AuA” and is payable on implementation of the Recommendations. This is set based on the sum invested as follows:

The first £250,000 2.75% (Maximum £6,875)
The next £250,000 1.75% (Maximum £4,375)
The next  £250,000+ 1.00% (Maximum £5,000)
Funds Exceeding £1,000,000+ 0.35%  


So, for example if we implement recommendations on £600,000, there will be an Advice Implementation fee of £12,250.

The minimum initial Implementation Fee is £2,497; the maximum for a single exercise will be £29,997.

For all protection and non-investment related contracts:

Fixed Fee £247 per policy, plus standard non indemnity commission when available.

Insurance Policies With No Investment Element

For advice that results in a non-investment insurance / assurance policy i.e. an assurance policy that is purchased only for protection purposes, not for investment purposes, we will receive commission from the product provider. Details of this commission will be disclosed to you in writing in advance of implementation of the policy. This commission will be payable in addition to any investment Implementation Fees as detailed above.


Integrated Ongoing Services™

For ongoing financial planning, investment advice, administration, oversight and monitoring we charge an Assets Under Advice ”AuA” fee, payable monthly calculated as a % of assets under our advice. This is set at 0.88% pa of the sums invested when investment is into the Affinity Model Portfolios on one of our preferred platforms or 1% pa if other.

This is subject to a minimum fee of £497 per month.

So, for example, if you invest £800,000 with us into an Affinity Model Portfolio, there will be an Integrated Ongoing Services fee of £7,040 which will vary depending on the value of your investment.

In summary, our Integrated Ongoing Services™ is to help you ensure that your Financial Planning stays on track, your records are constantly updated and your AuA continue to be invested in a way which is designed to help you meet with your objectives.

You can cancel this service and charge at any time by writing to us at the above address. This will necessitate you moving your investments out of our Affinity Model Portfolios. You should note also that some platform providers will levy additional charges if no authorised intermediary is appointed to act on your behalf on an ongoing basis.

Existing Clients New Advice Events– Planning & Implementation Fees

Often situations will arise where an existing Client will require advice on a new topic, on the investment of new monies, the transfer of funds from one provider/wrapper to another or the movement of monies from one type of pension to another. These will be classed as “New Advice Events” and as such, Planning and Advice implementation fees will apply as detailed above.

VAT

On all our fees, we will tell you if you have to pay VAT.

Your Payment Options

You can pay a fee by bank transfer, direct debit, standing order or cheque depending upon which payment option we agree. Other payment methods can be discussed. Alternatively, providing that you agree with the product provider you can ask the provider to deduct our implementation and AuA fees from your investment (but not Ongoing Financial Planning Services Fees) and arrange for them to pay us directly. This will reduce the amount of your investment by the amount of our fee. For example, if your investment is £500,000 and our implementation fee is £11,250 only £488,750 would be invested.

Settling Your Adviser Charge In A Single Payment.

You will be required to settle the payment of your fees within 14 days of completion of our work.

Additional Fees

In addition to our Initial Planning, Implementation and Ongoing Fees, there will be product or service charges applied in respect of the trading platform, investment services, products and funds into which we may recommend that you invest your AuA. These charges will be applied and disclosed to you in accordance with the relevant terms that apply to that service, fund or product.

To give you an idea of the total charges for investing your monies with us, below is a typical example:

Based upon £700,000 invested into an ISA portfolio and general investment account, being invested into our Affinity Active 4 portfolio, the total annual cost for investing would be:

 

Type of charge

 

 Charge as a %

Charge in £ and p

Integrated Ongoing Services

0.88%

£6,160.00

Platform charge

0.26%

£1,820.00

Investment/ portfolio charge

0.70%

£4,900.00

Self Invested Personal Pension Annual Admin Fee

N/A

£95 + VAT

Total charges

1.84%

£12,994.00

 

Terms of Business


This agreement is issued on behalf of Affinity Integrated Wealth Management “AIWM” which is a trading style of Buryfield Grange Limited of Inspire House, 20 Tonbridge Road, Maidstone, Kent ME16 8RT

Permitted Buiness

Our permitted business is advising on and arranging savings and investments products, pensions, mortgages and non-investment Insurance contracts.

Client Classification

Unless otherwise agreed in writing, you will be treated as a retail client for investment and pension advice and as a ‘consumer’ for protection advice when you transact business with us. This means that if something goes wrong you have the best protection available under the law.

Communications

Communications with you may be in a number of different formats including written, oral and electronic. You as Client agree to read all such material as presented, either electronic or written and to inform us of any discrepancies accordingly. Presentation of advice and “suitability reports” may be in Email, PDF or written report format. We will always require certain original documentation with original signatures returned to us via the post and / or electronically. You as Client agree to return any and all such papers as soon as is practicable.

All communications will be in English.

Tax

Any and all advice will be based on our current understanding of HMRC rules and practice and current tax rates, all of which are subject to change without notice. Similarly, the existing tax treatment of investment products cannot be guaranteed to remain the same in the future.

When investments are made into portfolios that include any form of regular rebalancing or fund changes, no account will be taken of individual Capital Gain Tax liabilities for such rebalancing exercises. Meeting the portfolio objectives and maintaining portfolio integrity and structure will override individual tax considerations.

Period Of This Agreement


This Agreement shall commence on the date of issue and shall continue in force until determined by either party giving immediate notice to the other in writing or until replaced by a later Agreement. Determination may be at any time, without penalty and without prejudice to the completion of transactions already initiated on behalf of the Client. After termination of this Agreement AIWM will not execute any further transactions for the Client or provide any further advice or services except at Client's specific request and subject to Client Agreement then current and a new agreement being entered into.

Services To Be Provided

This will be agreed with you before any work commences on your behalf. RESTRICTIONS Unless advised to the contrary, we will assume that you wish to place no restrictions on the types of investment we may recommend and in which you may subsequently invest.

Advice and Instructions

Any advice given to you by us shall be in writing or electronic such as email, PDF or electronic recording. We prefer our clients to give us instructions in writing, to aid clarification and avoid future misunderstandings. We will, however, accept oral instructions provided they are confirmed in writing and / or are recorded electronically.

We may, at our discretion, refuse to accept instructions although such discretion shall not be exercised unreasonably. We will record all transactions on our files which, along with copies of relevant documentation, will be retained by us for a period of not less than six years. You have a right to inspect copies of contract notes, vouchers and entries in our books or computerised records relating to your transactions. We reserve the right to withhold copies of these records if information to other parties would be disclosed.


Recorded Calls

We may record telephone calls for quality and training purposes. By calling us or accepting our calls, you consent to such recording. When appropriate we may accept your instructions via a recorded telephone call.

Liaison With Other Advisers

Unless specifically instructed in writing to the contrary AIWM is authorised to liaise with Client's other professional advisers and shall not be required to verify any information provided by Client or Client's other professional advisers and is expressly authorised to rely upon such information.

Paying For Services

All work is carried out on a fee basis. Where commission for certain transactional business is available to us we will use this to cover fees due. You may ask us for an estimate of how much in total we might charge. You may also ask us not to exceed a given amount without checking with you first. Fees will be payable immediately on receipt by Client of the relevant invoice ('the due date') and Client agrees to pay interest to AIWM on any sums not paid within thirty days of a due date; such interest to be at a rate equal to the base rate charged by Bank of Scotland pIc at the due date plus three percentage points.

Material Interest

We will act honestly, fairly and professionally known as conducting business in ‘Clients best interest’ and “Treating Customers Fairly” regulations. 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.

Buryfield Grange Limited has a minority shareholding in Integrated Financial Arrangements Plc (Transact is operated by Integrated Financial Arrangements Plc). The existence of the shareholding and any potential benefit will in no way influence our recommendation in relation to the most suitable product or provider.

Money Laundering

We are obliged to conform to anti money laundering regulations which require us to confirm identity and place of residence of each investor. This may require sight of certain documentation, checking with credit reference agencies, the electoral role or directory enquiries in order to verify your details. In the event that we use an electronic check you should be aware that a footprint will be left but this will not affect your credit rating. A credit agency may record the search. Where we are required to verify your identity in accordance with the Criminal Justice Act 1993 and Money Laundering Regulations, we take no responsibility for any delay in investing funds.

Law

These Terms of Business are governed and shall be construed in accordance with English Law and the parties shall submit to the exclusive jurisdiction of the English Courts.

Termination

The authority to act on your behalf may be terminated at any time without penalty by either party giving seven days’ notice in writing to that effect to the other, but without prejudice to the completion of transactions already initiated. Any transactions effected before termination and a due proportion of any period charges for services shall be settled to that date.

Third Parties Rights

A person who is not a party to this Agreement will have no right under the Contracts (Rights of Third Parties) Act 1999 (“the RTP”) to enforce any term of this Agreement. This does not affect any right or remedy of such a third party, which is available apart from the RTP.

Wealth Management

Our team of experts will provide you with a high-level professional service, taking a holistic approach in co-ordinating all areas of financial management, planning and investment advice, to ensure your wealth is always working for you.

Testimonials

At Affinity Integrated Wealth Management we always encourage feedback from our clients as their opinions on our work are of paramount importance to us. Please take a look at our testimonials page to read some of the comments that we have received. 

The Team

Ian Painter and team, welcome you to Affinity Integrated Wealth Management. Our aim is to provide the highest quality financial planning with purpose, tailored to your unique requirements.