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Care Asset Management's advisory service consists of 6 basic stages and these have been designed to ensure clients receive the optimum advice on the most cost effective basis while also ensuring that individual needs and requirements are fully met. These six stages are summarised as follows:

1. Enquiry and Assessment

All client enquiries will receive a preliminary assessment of their circumstances and requirements in order to determine how their needs can best be met and to ensure that Care Asset Management is able to meet those needs. If we feel we are not best placed to assist you, we will inform you of this immediately and endeavour to direct you to a suitable alternative source of help.

2. Initial Consultation

The assessment will be followed by an initial consultation with one of our accredited advisers. This is always provided without charge or obligation and its purpose is to gather sufficient information about your circumstances to be able to assess your needs and requirements. It will also enable us to determine the costs which our services will incur and allow us to identify the benefits our advice can bring to your situation both immediately and over the longer term.

3. Engagement

Before any action is taken and any costs incurred we will confirm the work we propose to undertake, the cost involved and the basis upon which those charges will be made. This is done in writing and only when you are satisfied with these terms will we ask you to engage us formally and instruct us to proceed.

4. Recommendation

Once all necessary enquiries, research and investigations are completed we will then be in a position to present our findings, conclusions and recommendations. Again these will be presented in writing with full supporting information and facts. The issues will be discussed and all questions answered to enable an effective strategy to be finalised to meet your identified needs.

5. Implementation

Once the recommendations have been agreed we will then implement the necessary arrangements including the undertaking of all legal, regulatory and compliance requirements. Once complete, the actions will be confirmed in writing to ensure our clients fully understand what has been recommended and why. This will be followed by the issuing of the associated documents and contracts.

6. Review

We offer a choice of review options for those clients who require continued support and service.

How Much Will Our Services Cost?

We provide our services on a fee charging basis and our independent status ensures we are able to act in our clients best interests.

The level of any fee or charge and the timing of when this is to be paid will be agreed in writing before any work is undertaken. As part of our commitment to Treating Customers Fairly, we require our clients to sign a formal agreement to confirm their agreement to those fees and their instruction to engage our services.

Our fees are calculated on the basis of the cost of the works proposed and in the majority of cases we offer clients a fixed charge, agreed at the outset.

In circumstances where this type of fee is not appropriate an alternative fee basis may be used, for example an hourly rate but again this will be agreed in writing at the outset.

Our initial consultation is carried out at our own expense and without charge or obligation to the client, following which a maximum Initial Advisory Fee for the required services will be advised. If this is accepted and we are instructed to proceed, the agreed fee will usually be invoiced in line with the stages of the service process.

This would typically involve an initial payment of 30%, 25% on submission of our initial recommendations, 25% on submission of our final recommendations, 10% as our recommendations are implemented and the remaining 10% after 1 month to ensure all matters are in place. Our standard settlement terms are 14 days from date of invoice but there may be instances where the invoice terms need to vary from this.

Ongoing Services

For those clients who require on going support and assistance we offer a number of options, depending on your requirements, but which would generally be:

  1. Annual Review - we encourage clients to review their arrangements at least annually and in some cases more frequently. Although an hourly charge option is available, we prefer to provide this service on a fixed fee basis so that costs are known at the outset. There are a number of variable factors and if this option is appropriate the cost details will be provided once the initial advice is complete.

  2. Investment Management Service - for clients who require a more bespoke ongoing service we are able to provide a full wealth management service which can include discretionary management of assets, regular valuations, monthly bulletins, market commentaries, cash management, withdrawal management and tax reporting. The cost is typically charged at between 1% and 1.5% of the assets advised on.

For those clients opting for this full service, our aim is to provide benefit and advantage by offering portfolio management and supervision of your finances to ensure that your original requirements are maintained within today's fast moving financial world. This is complemented by monthly bulletins and updates, regular valuations and annual reviews to ensure that you are kept fully up to date on the key issues.

Frequently Asked Questions about Fees

As part of our commitment to Treating Customers Fairly our aim is to ensure that all aspects of our fees and charges are understood and agreed at the outset to help to avoid any confusion or uncertainty.

What does our fee include?

The services and items included in our initial advisory fee will be detailed and confirmed in writing before you engage us. It will always include all formal reporting, money laundering, regulatory and compliance issues. If there are any items that you do not require us to assist with, these can be excluded.

Can I change my mind?

We are members of the national Buy With Confidence scheme operated by local Trading Standards. To achieve membership, all of our client facing staff are required to undergo checks with the criminal records bureau (CRB) and we are required to demonstrate compliance with the Buy With Confidence terms and conditions as laid down by Trading Standards. A copy of our certificate of membership is available on request.

A key feature of the Buy With Confidence scheme is the inclusion of cancellation rights which mean that clients can change their minds and terminate their instruction within 7 days.

If circumstances change during the advice process, our agreement can be terminated at any time and our fee will be charged on a pro-rata basis for the works undertaken.