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KEYFACTS – About our services and costs

1. The Financial Conduct Authority (FCA)

The FCA is the independent watchdog that regulates financial services. This document is designed by the FCA to be given to consumers considering buying certain financial products. You need to read this important document. It explains the service you are being offered and how you will pay for it.

2. Which service will we provide you with?

√ - Independent advice - We will advise and make a recommendation for you after we have assessed your needs. Our recommendation will be based on a comprehensive and fair analysis of the market.

X - Restricted advice - we will advise and make a recommendation for you after we have assessed your needs, but we only offer advice on limited types of products or products from one company or a limited number of companies.

X - No advice - you will not receive advice or a recommendation from us. We may ask some questions to narrow down the selection of products that we will provide details on. You would then need to make your own choice about how to proceed.

3. What will you have to pay us for our services?

Our fee structure reflects the high quality and specialist service we provide. We will help you decide if our service is right for you and will agree the fee before commencing any chargeable work on your behalf.

 

IPSL Discovery™

An initial assessment and / or face to face meeting to determine your objectives and to establish whether our services are appropriate for you.

Our Fee: Free – No cost to you

 

IPSL Retirement Clarity™

IPSL Retirement Clarity™ - Planning Fees

Initial Planning Fees will range from £997 - £1,497 depending on the complexity of your affairs and the depth and type of planning of work to be undertaken.

Planning fees cover items such as establishing your objectives, priorities and concerns, data gathering, technical analysis, research as well as preparation and presentation of your IPSL Retirement Clarity Report™ & associated Suitability Documents as required.

Planning fees are payable in advance of any advice being provided and are in addition to any applicable implementation fees as listed below. In some exceptional circumstances it may be possible for planning fees to be added to the implementation fees and for these to be deducted from any pension arrangement that may be put in place for you (please see “Your payment options” later).

 

IPSL Advice & Recommendation™

Advice Implementation Fee

This is a % of the assets under advice “AuA” and is payable on implementation of the recommendations. This is set based on the sum invested as follows:

Standard                               

Applied to the first £250,000     3% (maximum £7,500) 
Applied to the next £250,000    2.00% (maximum + £5,000)
Applied to the next £500,000   1.50% (maximum + £7,500)
Applied to AuA over £1 million  0.75%   

Defined Benefit Pension Transfer

Applied to the first £250,000     5.00% (maximum of £12,500)
Applied to the next £250,000    2.00% (maximum + £5,000)
Applied to the next £500,000   1.50% (maximum + £7,500)
Applied to AuA over £1 million  0.75%  

So for example if we implement standard recommendations on £225,000, there will be an Advice Implementation fee of £6,750, plus the Initial Planning Fee.

If we were to implement a Defined Benefit Pension Transfer of £375,000, there will be an Advice Implementation fee of £15,000, plus the Initial Planning fee.

The Minimum Implementation Fee for Defined Benefit Pension Transfers is £3,997, all other activity £1,997, plus the Initial Planning fee.


Existing Clients New Advice Events

IPSL Ongoing Alliance Program™ Service and Fees

IPSL Ongoing Alliance Program™

In summary, our Ongoing Service is to help ensure that your records are kept up to date and that your AuA continue to be invested in a way which is designed to help you meet with your objective. You can cancel this service and charge at any time by writing to us at the above address.

Our annual fee, payable monthly 1%* of AuA.

Minimum fee £83 per month.

So, for example, if you invest £200,000 with us, there will be an Ongoing Service annual fee of £2,000 (£166.67 per month) which will vary depending on the value of your investment. If the value increases so will your fee.

Please see “Your Payment Options” for details of how fee may be paid.

A reduction may apply for AUA greater than £1m, depending on the level and complexity of your affairs and the ongoing support to be provided.

Administration Fees
Administration costs in relation to our Planning, Advice and Implementation and Ongoing services are included in the fees set out above. Other Administration charges are covered in our Administration Charges Schedule which is available on request.

On all our fees, we will tell you if you have to pay VAT.

Your payment options

You can pay our fee directly to us by credit or debit card, bank transfer, direct debit or cheque. Alternatively, you can ask the provider to deduct our fee from your investment and arrange for them to pay us directly, or a combination of both methods. Deducting our fee from your fund will reduce the amount of your investment by the amount of our fee. For example, if your investment is £70,000 and our fee is £2,100 only £67,900 would be invested. When using our planning or administration services, all or part of our fee is payable in advance for any work being carried out and this fee is non-refundable. The exact amount payable in advance will be agreed before we commence work.

Settling your adviser charge in a single payment.

You will be required to settle the payment of your adviser charge within 14 days of completion of our work.

Additional Fees

In addition to our Planning, Advice Implementation and Ongoing Services Fees, there will be product or service charges applied in respect of the trading platform, investments services, products and funds into which we may recommend that you invest your AuA. These charges will be applied and disclosed to you in accordance with the relevant terms that apply to that service, fund or product.
In some circumstances, fees may also be charged on a fixed-fee basis and will be agreed in advance of being provided.

4. Who regulates us?

Independent Pension Specialists Ltd of Inspire House, 20 Tonbridge Road, Maidstone, Kent ME16 8RT is authorised and regulated by the Financial Conduct Authority. Our Financial Services Register number is 670043.

Our permitted business is advising on and arranging savings and investments, pensions, life assurance and other protection products and mortgages.

You can check this on the FCA’s Register by visiting the FCA’s website https://register.fca.org.uk/ or by contacting the FCA on 0800 111 6768.

5. What to do if you have a complaint

If you wish to register a complaint, please contact us

…in writing Write to Matthew Hazledine at Independent Pension Specialists Limited, Inspire House, 20 Tonbridge Road, Maidstone, Kent ME16 8RT.

…by phone Telephone 01622 238000

If you cannot settle your complaint with us, you may be entitled to refer it to the Financial Ombudsman Service.

6. Are we covered by the Financial Services Compensation Scheme (FSCS)?

We are covered by the FSCS. You may be entitled to compensation from the scheme if we cannot meet our obligations. This depends on the type of business and the circumstances of the claim.

Most types of investment business are up to a maximum limit of £50,000.

Further information about compensation scheme arrangements is available from the FSCS.

 

Log no. IPSL2017182C 07.07.17

Contact us
Please complete the form below for any general query.
Please enter your name.
Please enter your email.

To view our Client Privacy Statement click here