On receiving an enquiry, Castle Wealth will arrange an initial meeting. The purpose of this meeting is to find out whether we can help you in achieving or moving towards your financial goals. There is no charge for this and no obligation on either side.
During this meeting we explain our fee structure and will aim to give you a clear understanding of what fees could apply to you in the future. Following the meeting we will write to you with an explanation of the services we have discussed, together with costings for your approval.
We can offer you a variety of ways of paying for our services: an hourly rate, a fixed fee for a specific task or a charging structure attached to your financial arrangements, whatever is the most appropriate to your requirements and personal preference. We will always agree our fees with you in writing before commencing any work.
Typically, our fees can be split into the following categories:
An advice only fee may apply if you only require us to provide you with research and our advice. The fee we agree with you will cover the cost of the research and the preparation of a financial report, which will detail our research and advice in full. The fee you pay is due once we have completed your full financial report to your satisfaction.
If, following the advice, you wish for us make arrangements to implement the advice you can switch from the ‘advice only’ service to the ‘advice and implementation’ service. We will agree a new fee with you as below. In this case, the advice only fee will not apply as the cost of the advice already provided is incorporated in the combined service.
Advice and implementation
This is the most requested service that we provide. As with the above, we will agree our fee with you, in writing, before the commencement of any work. This service will include the research, the advice and the implementation of your financial solutions through to completion. We will only be paid when the advice is finalised and the solutions are in place. You will be given a variety of options as to how you wish to pay for this service.
For most financial solutions that we advise on, we will offer you the option of a servicing agreement. In some cases this will be recommended to you. We are happy to provide you with a servicing agreement that can include regular monitoring of your arrangements, one-to-one reviews and annual updates to your solutions to ensure continued suitability.
We offer a range of review services to suit all client types / requirements. Typically, our review service will include the ongoing monitoring of your financial arrangements, face-to-face meetings with your financial advisor each year, and an annual advisory report to include portfolio updates and the use of annual tax free allowances such as ISAs or pension allowances. Again, the cost of this service is dependent upon the level of service you require and as always, this will be agreed with you at the outset.
Certain products – non-investment insurance policies and mortgages – can still pay a commission, and so we may work on the basis of a commission, a fee or a combination of both. As before, no costs are incurred without prior agreement, and all prospective earnings are disclosed before work is undertaken.
Fees may be subject to VAT at the prevailing rate, depending upon the type of work undertaken.