The Servicing Plans provided by Brighter
Although we carry out due diligence on our investment platforms and fund providers it is best that we are able to monitor your unique situation via what we term Servicing.
Servicing is the process that we follow annually with all those clients have opted to have it, whereby their own investment and pension is considered against the following parameters:
Any changes to lifestyle or personal finances that may have an impact on achieving future goals. Particularly in the case of those 50 years and older, retirement and later life goals are all the more important in terms of ensuring that funds in pensions and investments will provide the income required in the post-retirement years.
Checking performance of individual pensions and investments is required whenever there are changes in market conditions, or just in terms of ensuring that the fund is on track to provide the funds required. This can never be assumed and is a useful aspect of servicing provided by us to our clients.
Service Plans - We offer our clients a choice of service plan:
Service Plan 1 - This involves the following:
A pre-meeting report to request information from you about any changes in your financial or personal circumstances, including your current attitude to risk.
A face to face review of your current circumstances, including your attitude to risk and whether any changes are required to your financial plan.
The face to face meeting can involve any or all of the following:-
- Retirement advice including specialist IHT planning,
- Later years advice including residential care planning.
- Automatic review of your attitude to risk every three years.
- Consideration of the performance of your pension/investment portfolio and how this will meet your retirement goals through the use of cash-flow modelling programmes, based upon current valuations.
- Free will and powers of attorney, from our partnership arrangement with JH Wills Ltd.
- Free client mortgage review – normally charged at £395
- Free corporate or personal protection review and assessment,
- We do not charge any extra for clients wishing to invest additional monies into their existing financial portfolio.
After the annual meeting, a report outlining the performance of investments over the year with recommendations for changes, where required, is offered to the client. This report will form the basis of the client’s Brighter Plan for the next 12 months, until the next annual review
Service Plan 2 - This involves the following:
- An on-line annual fact-finding process so that we can collect information about our clients’ personal and financial circumstances that may affect their on-going financial planning arrangements.
- Where changes are recorded that need to be considered in terms of financial planning, we will inform the client and arrange to discuss our recommendations for an alteration to their investments.
- Every three years we will ask our clients about their attitude to risk ensuring that it is in line with their financial goals and investment strategy.
Charges for Servicing
Service Plan 1
1/12th of 1% of the plan value taken on a monthly basis. Our minimum charge is £1250 per annum and our maximum charge is £4750 per annum
Service Plan 2
1/12th of 0.75% of the plan value taken on a monthly basis. Our minimum charge is £375 per annum and our maximum charge is £800 per annum.