FINANCIAL PLANNING LTD
Established in 1983 by David Jebb ACII Chartered Financial Planner. Directly authorised by FCA. Have designed the Forward Financial Planning process.
What is the Forward Financial Planning process?
Think of how an accountant prepares a set of accounts . He records the figures and presents a set of accounts which let the company owners know how much they have made, how much tax is due and what their company is worth.The forward financial plan is almost a mirror image of what the accountant does. We look at what you are now worth, your assets, investments and liabilities, we start working on our buy sell advice and we present an outcome of our advice as your initial "forward accounts" (including estimated taxes due) -which after fine tuning our buy sell advice as we agree your objectives will become your forward financial plan.
Why is a forward financial plan important?
Some people know exactly where they want to get to, others do not, most are somewhere in between. In building your plan we help you to understand what is possible. It may take a number of years for you to fine tune your goals, and your objectives may well change
What is False hope? Think of an aeroplane pilot plotting a course from Dublin to New-York. He takes off and then goes to sleep leaving the plane on auto-pilot! That is false hope! Clearly if a storm blows the aeroplane "off course" the pilot needs to take action and re-calculate the flight plan.
Four things we do to reduce the possibility of False Hope
If the client wants time to reflect he or she can first become a "pre-advice" client. They will receive monthly topical financial news updates, a comprehensive budget update (November), Spring update (March) and 24/7 access to our comprehensive library which is regularly updated. All this is only £50 per annum; sign up now at www.my-money.me
If you are ready to come onboard as an advised client we require an initial "survey fee" of £395 to cover building a "snapshot" of your current initial financial position. If there are managers in your portfolio you wish to retain which are not on our panel we may need to carry out due diligenge, read prospectus, check accounts and fund manager reports so may make a further charge depending on what we need to do to be satisfied that we can confirm your manager is appropriate. We will agree any charge in advance. The charge in any event will never be more than 3% of the investment value. You may decide you are happy to use our managers which may be a solution we will agree to, providing we are satisfied your existing manager is not imposing penal exit charges, and that you will not incur any tax charges.
We charge an ongoing retainer of £150 per month for a mediation periods of 12 months.We mediate on your behalf with the financial institutions. At the end of the mediation period we invoice 0.96% of funds under our influence less the retainer.
Example (1)Funds £180,000 £150 per month = £1,800, nothing nothing further to pay us.
Example (ii) Funds at start of year £900,000. Funds at end of year £1,000,000. Including your monthly fee of £150 your total payment to us at the end of the mediation period is £9,600 Your invoice will show £9,600 - retainer £1,800 balance due £7800. The mediation of Buying and selling of investments is not liable to VAT. Please see to left "Your costs estimate/client agreement," this is an online tool to help you obtain an estimate of both our charges, custodian charges, and manager charges.
The Forward Financial planning process aims to review your goals / financial position each year , compare your financial position with the previous year make buy/sell recommendations and update your forward financial plan detailing changes and reasons for advice.
At the end of each mediation period we invite you to an advice meeting to start a further mediation year.As explained above you can switch to unadvised/non advised. If you choose to become unadvised you will not receive advice until you again ask to become advised. You will continue to benefit from any online valuation services we have set up for you, and annual statements. You will be free to provide investment instructions which we will execute on a non advised basis, ie we will not comment if we think what you are doing is unsuitable . Charge £50 per month plus £40 per execution instruction.
We are RESTRICTED ADVISERS (refer notes 3,4,5 above) directly regulated by FCA
Our offices are in a private estate yet within the town boundary of Newtownards, access via Golden Glen Road.All advice meetings are by prior appointment 02891826767 – normal office hours for admin support 9-1 2-5 Monday to Thursday.