Tel: 01570 423 823 | post@cyfri.co.uk
How We Are Paid
You have the option to pay for our services by way of a fee or alternatively we can be paid commission on a product we arrange. We will tell you how much commission we receive. We have detailed below the payment options we offer.
Where we charge a fee, this will be agreed with you in writing before we carry out any work and confirmed in a fee agreement. The amount we charge will depend on the amount and complexity of the work. Our typical charges for general financial planning are:
| Director | £125 per hour and 0.5% per annum of the value of the funds under advice thereafter | |
| Financial Adviser | £100 per hour and 0.5% per annum of the value of the funds under advice thereafter | |
| Administration | £50 per hour |
For example, if a Financial Adviser spent 4 hours providing services the fee would be £400 (4 * £100)
Where we receive commission, we will tell you how much the commission will be before the transaction. Commission is paid from product charges to your investment or policy. The amount of commission will vary according to the type of product, the amount you invest, and (sometimes) how long you invest for or your age when you start the product.
The following table details our typical commission rates for the products with which we most commonly deal.
Commission if you invest monthly
| Our typical | Example based on £100 per month | |
|---|---|---|
| Collective investments (e.g. unit trusts) | 3.5% of all payments plus 0.55% of your fund value each year from year 1 | £42.00 each year plus £7.20 in year 1, £14.40 in year 2, and so on (The actual amounts will vary in line with your fund value) |
| Whole of life assurance (assuming the policy holder is 40 years old) | 136% of the first 12 month's payments plus 2.5% of all payments from month 1 | £1632.00 initially plus £30.00 each year from month 49 |
| Personal and Stakeholder pensions (10 year term) |
30.0% of the first 12 month's payments plus 0.55% of your fund value each year from year 1 | £360.00 initially plus £7.20 in year 1, £14.40 in year 2, and so on (The actual amounts will vary in line with your fund value) |
| Personal and Stakeholder pensions (25 year term) |
65.0% of the first 12 month's payments plus 0.55% of your fund value each year from year 1 | £780.00 initially plus £7.20 in year 1, £14.40 in year 2, and so on (The actual amounts will vary in line with your fund value) |
Commission if you invest a lump sum
| Our typical | Example based on £100 per month | |
|---|---|---|
| Collective investments (e.g. unit trusts) | 3.5% of the amount you invest plus 0.55% of your fund value each year from year 1 | £350.00 plus £55.00 each year from year 1 (The actual amounts will vary in line with your fund value) |
| Investment bond | 3.5% of the amount you invest plus 0.55% of your fund value each year from year 1 | £350.00 plus £55.00 each year from year 1 (The actual amounts will vary in line with your fund value) |
| Personal and Stakeholder pensions |
3.5% of the amount you invest | £350.00 |
| Annuities |
1.5% of the amount you invest | £150.00 initially |
| Income drawdown | 3.5% of the amount you invest plus 0.55% of your fund value each year from year 1 | £350.00 plus £55.00 each year from year 1 (The actual amounts will vary in line with your fund value) |
