VALUED SERVICE PROPOSITION
Simple, Transparent and Clear
This Valued Service Proposition outlines how MaxLyte Financial Limited works on your behalf. This agreement is supplementary to the Key Facts document and Client Agreement. It sets out the basis on which we charge for our services. We recognise that each of our clients has different financial needs and objectives. This is why we build an appropriate plan for you. In order to clarify your expectations and to provide transparency of our charges we set out here the services available and their associated costs. Please feel free to contact us if you wish to discuss any aspect of these terms.
The Financial Planning Process
There are four stages to our financial planning process, each of which is separately costed.
- Free Initial consultation – At our cost.
- Financial Review and Recommendation – At our cost*.
- Arranging and Setting up your Investment – At our cost
Ongoing Service and Reviewing your investments – 1% per annum – this means that for every £1000 invested by you, Maxlyte Financial will charge £10 per year.
Each of these services and the associated costs are explained below.
Free Initial Consultation
The initial consultation will comprise of:
- An initial meeting with one of our qualified financial advisers.
- An opportunity to ask questions and understand exactly what we do and how we do it.
- Let us establish exactly what you want to achieve and what your financial needs are.
- Discuss our service proposition and any costs involved.
- This service is at our cost.
Financial Review and Recommendation
We find out what you want to achieve in your future at the outset to establish your financial planning requirements. This will include:
- Understanding your situation by gathering information about your existing financial arrangements and full personal circumstances.
- Understanding your investment knowledge and your attitude and tolerance towards investment risk and capacity for loss.
- Recommendation of an asset allocation model that exactly matches your investment risk profile and the subsequent assessment and suitability of any of your existing investments.
- The analysis and design of your investment strategy.
- A presentation of your recommendation.
* There is a charge of £500 for this service but this is only payable should you decide not to implement our recommendations as usually we would offset this cost against the adviser charge we receive from the 1% per annum fee we charge for managing your investments. When we provide you with our Suitability Report. It will be your decision as to whether you implement our recommendations either completely or in part. A clear breakdown of what our charges/fees are for the on-going management of your plan is included in our Key Facts about our services and costs document that you will be given.
Arranging and Setting up your Investment
The arranging and setting up of our investment recommendation includes where appropriate:
- Handling of all fund and policy administration on your behalf
Regular updates to keep you informed of progress.
- Ensuring all you documents are issued in line with your expectations.
- Confirmation of all actions taken on your behalf in writing.
Our fees for this part of the service are at our cost and are covered in detail within our Key Facts document and client agreement which should be read in conjunction with this document.
On-going Service and Reviews
Your financial and personal objectives will change over time due to changes in your lifestyle or circumstances. We believe it is essential to ensure that your investment portfolio we recommend continues to meet your lifestyle and investment objectives. Therefore our On-going Review Service offers:
- Structured reviews.
- Assessment of your current circumstances and any changes to your plans that are needed.
- Regular updates and information regarding your investments.
- A choice of differing levels of support depending on your needs.
- On-going support with correspondence and administration issues
We recognise that all clients do not have the same service requirements therefore even though we do provide a guideline by way of our different propositions you are free to choose the level of service that best suits your needs. Our charges are guaranteed not to increase within the first 12 months of your contract with us. Should we need to increase our charges after this period, you will be given notice of this fact and the opportunity to decide whether to continue with the revised level of charges. It should be noted that it is not compulsory for you to sign up to one of our services.
Our fees for an on-going service and review are set out in the following table:
|Minimum Investment amount||£100,000+|
|Annual statement of holdings||✓|
|24 hour access to your portfolio via your own personal client web-site||✓|
|Secure messaging and updates||✓|
|Access to all information on mobile devices||✓|
|Access to our support team||✓|
|Professional expertise and governance||✓|
|Regular portfolio rebalancing||✓|
|On-going expert support||✓|
|On-going access to your adviser||✓|
|Review Meetings including:||✓|
|Review of objectives||✓|
|Review of risk profile||✓|
|Review of asset allocation||✓|
|Review of tax changes||✓|
|Updates & valuations||✓|
|Comprehensive financial health check:||✓|
|Detailed tax planning||✓|
|Income / expenditure review and forecasting||✓|
|Cost based on the total value of your investments||1%|