Fees

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The Planning Process Cost 

A fixed fee may be charged for the Penguin Planning Process. This may include creating the first draft of your Wealth Management Plan and/or Financial Forecast based on your situation. The Penguin Advice Fee will cover the cost of reviewing your situation, looking at your strengths and weaknesses and delivering impartial, unbiased advice on all the things to consider to improve your Financial position to help you ‘Make Smarter Financial Decisions’.

 

Penguin Advice Fee is £697 as a one-off advice fee

This process will include one or more of the below –

  • Penguin Wealth Management Plan
  • Penguin Financial Forecasting Service*
  • Penguin Investment Review Service
  • Penguin Business Protection Report
  • Penguin Pension Review Service
  • Penguin Retirement Option Report

 

Money Back Guarantee

If you do not feel that the plan we produce and the Planning Meeting has added value to you, then it will come at no cost.

*The Financial Forecast is a service that helps us predict how your Financial future looks based on your current situation and what you are trying to achieve in the future – also called cashflow modelling.

If we decided to work together and a product is recommended then this fee can be taken from your product on Implementation. If this service is selected in isolation, under current legislation, VAT will usually be payable on the amount charged.

 

The Implementation Process Fees

A menu of fees will be included within your written document/Plan. This document will detail all fees involved in implementing any advice we may give, including the costs of any Wills and Trust arrangements. Consequently, fees could include activities carried out by specialist third parties.

Arrangement of Pension or Investment Contracts

Penguin will charge a fee of 2% fee on the first £50,000 invested and 1% fee on any remaining investment over the initial £50,000*.

This fee is to cover the risk of Advice, and Regulatory Cost of providing your Financial Advice, and will be taken from the product.  The fees Penguin charge for Implementation contribute towards the costs of Regulation, Insurance, Business and Office costs and the risk of Advice to Penguin.

If you invest £250,000 into an Investment plan, for example, you will be charged with £1,000 (2% of the first £50k) and £2,000 (1% of the remaining £200,000 invested).  The combined total fee charged would be £3,000 and will be deducted from the investment and £247,000 will be invested.

* The Minimum fee for any product Investment/Pension we arrange is £500.

You have the option to pay this fee direct to Penguin via online banking or as a cheque and £250,000 will be invested.

 

To arrange and advise on a SIPP               £1,497

To arrange and advise on a SSAS             £1,997

Plus 1% of any pension funds moved into the SIPP / SSAS – example £1,000 = 1% of £100,000

 

To arrange and advise on an Enterprise Investment Scheme (EIS), Venture Capital Trust (VCT), Business Property Relief

Some specialist solution products such as VCTs, EISs, BPR Products will be subject an administration fee of 3% of the fund value due to the complex nature and additional risk to the Penguin business of these products.

 

Insurance

For non-investment business such as Term Assurance we will usually be paid a commission from the product provider.  This will be disclosed to you in an illustration before you go ahead with our recommendation. We will agree with you the fee or amount of commission we will be paid before we make or implement any recommendations. You will receive a quotation which will tell you exactly how much commission we will receive and about any other fees relating to any particular insurance policy.

 

The Penguin Forward Planning Process

There are two levels of service available within The Forward Planning Process:

 

The Client Relationship Service

This entitles you to:

  • Daily Monitoring of your Portfolio (investments for which Penguin have responsibility) via Penguin’s Advanced Investment Strategy (AIS)
  • Penguin Portfolio Valuations on request
  • Penguin Forward Planning Service Meetings are available, at no additional cost, at your, or our request to discuss any issues you, or we, think are appropriate. This is not intended as a yearly activity, but an activity that will be driven by what you need, when you need it. We will communicate with you at least once a year to see if a Forward Planning Meeting is required
  • A Quarterly Investment Update, by email, updating you on the AIS progress performance
  • Invitation to Special Client Events and Briefings
  • Trust & Estate Planning Advice
  • Action priority over “Customers”
  • Access to the Penguin Advice team for your Family
  • Financial Forecast updates
  • Regular reviews of Third-party services
  • Access to Penguin Legal, Penguin Mortgages and Penguin Tax Planning

 

Annual Fee:  0.9% of Investments / Pensions arranged – payable each year and deducted from your Investment / Pension

For example, an Investment of £250,000 would pay £2,250 over a 12-month period. As your fund value increases or decreases, our fee will increase or decrease.

 

The Customer Relationship Service

This entitles you to:

  • Annual valuations of your Portfolios
  • Prompt response to emails and other correspondence
  • Administration of your file

The following services, when requested, may attract individual fees per project:

  • Interim review of your Portfolio
  • An Annual Forward Planning Meeting/ Discussion, at your request

 

Please note: on-going advice, service and prompt adviser availability is not an inherent part of The Customer Relationship Service.

 

Annual Fee: 0.5% of Investments / Pensions arranged – payable each year and deducted from your Investment / Pension

For example, an investment of £250,000 would pay £1,250 over a 12-month period. As your fund value increases or decreases, our fee will increase or decrease.

 

If you do not want or need an ongoing service from Penguin but would still like to discuss your Financial Planning needs with us on an ad-hoc basis, then we can discuss the costs of this as and when required.

 

If you would like to find out more about how Penguin can help you plan for your Financial Future then please do not hesitate to get in touch. A member of our team can book you in for a no obligation Discovery Meeting at our expense.

02920 450 143  |  info@penguinwealth.com

 

What is the Process of Financial Advice?

 

 

 


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