| Why Fee
Based Advice? |
| We understand
that we all have different aspirations and goals when it comes to financial planning.
Nobody plans to fail but most of us fail to plan properly which is why you need
professional fee based advice. |
|
Our Approach |
Being
fee-based is an essential part of the way in which we work with clients. As professional
advisers, we want to be able to review individual circumstances objectively, advising
our clients on the best course of action for them - and not for the commission
it will generate for us. We therefore believe the integrity and transparency of
a fee-based approach is central to our long-term and trusting relationships with
clients.
For your reassurance, our fees
are calculated on a time spent basis and we maintain a notional account for each
client. This is debited with the value of time expended and credited with fees
and commissions received. Credit balances are carried forward to fund future use
of HK Wealth Managers Service.
Commissions once credited are not refundable.
If we purchase investments, insurance or pensions for clients, every effort is
made to obtain commission to offset fees otherwise charged. Every penny of which
is credited to the clients notional account. It is entirely possible that the
ongoing cost of a client’s financial planning would therefore be self funding.
|
| Client
Benefits |
| HK Wealth Managers
Ltd operate exclusively on fee based advice offering only the highest standard
of advice and administration not driven by commission bias and the need to make
a sale. We pride ourselves on offering our clients the highest degree of service
and integrity. This approach benefits our clients in many ways: |
•
Quality Advice on a fee basis-mutually agreed
•
Simple and jargon-free advice
•
Total regulatory and insurance protection.
• No charge
for first 90 minutes of a first meeting.
•
Totally unbiased impartial advice
•
The knowledge that your adviser is bound by law
to put your interest first.
• All
commission and fees are used to fund your ongoing financial plannings |
| What people
have to say about fee based advice: |
‘A
consultative document published by the watchdog, the Financial Services Authority,
argues that under the commission system consumers lose about £140 million
a year because they are frequently persuaded to buy investments that offer the
highest commission, rather than the most suitable product’. THE
TIMES
The issue of fee versus commission-based advice
should focus on one question, which is: ‘In what capacity is the adviser
acting?’ A good fee based adviser should be the agent of the client, and
someone living entirely on commission is an agent of product providers, insurance
companies, unit trust groups, banks and building societies. THE
INDEPENDENT
If you want good, impartial advice, you will
have to pay fees. Would you expect impartial advice from your accountant if he
was on commission from the Inland Revenue? Clearly not. THE
DAILY TELEGRAPH |
