Our Services
&
Charges
Tel: 0845 319 8322 Email: [email protected] www.lbfinancialsolutions.com Offices in Colchester • London • Chelmsford • Ipswich
Objectives
We aim to provide product recommendations to
cover a wide range of situations whether this is
protecting the financial position of your family and
business, arranging mortgages; helping you plan
your savings for specific purchase or for your
retirement and dealing with more complex
investment advice or tax planning.
The objective of our investment advice service is
to put in place specific product solutions to enable
you to meet your financial goals and then regularly
review the performance of those solutions to help
you to remain on track. In order to achieve this, we
follow the process set out below, which is broken
down into six stages:
1. Initial consultation
2. Getting to know you
3. Research and analysis
4. Report of recommendations
5. Setting up the solutions
6. Checking this are on track
About Us
LB Financial Solutions was formed purposely to
compliment the accountancy services offered by
LB Group, both to its existing and new clients.
We’ll look after the financial planning needs of
both you and your business in parallel to the tax
planning work of LB Group, keeping all elements of
your finances in tune.
Our business consists of three Diploma Qualified
Financial Advisers who between us have been
helping people achieve their financial goals for
over 50 years. We each have different
backgrounds within financial services providing an
excellent blend of knowledge and perspectives to
draw on.
As existing clients of LB Group ourselves, for our
own accountancy needs, we each have first-hand
experience of the high level of quality advice,
planning and delivery synonymous with the LB
brand. This is the level of professionalism which LB
Financial Solutions has been built on.
Our Aim
Our primary aim is to continue the high quality
service you will be used to, with the emphasis on
complimenting and building long-term
relationships. Our advice is not just based on your
situation today but your goals and aspirations for
the future. These will change over time, which is
why we are committed to regularly reviewing your
circumstances to ensure your financial planning
adapts along the way.
With a refreshing attitude to financial services and
through the process of collaboration we put you at
the heart of everything we do. We’ll help build a
plan to deal with the common goals of reducing
any debt, maintaining a particular lifestyle and
increasing your wealth. By getting to know you and
understanding your needs and attitudes we will
always be able to provide you with a trusted
opinion.
1. Initial Consultation
We will meet with you to initially understand your
personal circumstances and what you would like to
achieve, help you understand the benefits of using
our services, outline our associated costs and give
you the opportunity to appoint us.
2. Getting to know you
This could involve a specific review of your current
arrangements in relation to a particular issue you
feel requires attention or could involve your entire
financial situation. Any or all of the following issues
could form part of our review service and we
would agree this at the initial consultation;
Business Protection Review
An assessment of the threat to your business if
something were to happen to you, other
shareholders and Directors or Key personnel the
business relies upon. This is an area of planning that
is often missed but the risks have the potential
destroy a business that isn’t correctly prepared.
Lifestyle Financial Planning
Creation and implementation of a strategy to
enable you to achieve your objectives, which may
include solutions for borrowing a new mortgage or
paying one back as soon as possible, saving for
school/university fees, investing for other specified
goals or even using your assets to raise an income in
retirement.
Estate Planning
A review of the impact that Inheritance Tax
could have on the value of your estate. Where a
liability exists we can provide solutions to
reduce this cost. Consideration for the use of
Trusts to protect your wealth and make sure the
maximum is passed to those you wish. Writing
of a Will or your Lasting Powers of Attorney.
Pensions Review & Retirement Planning
A review of existing pension arrangements, the
potential benefits of using a platform to monitor
your pension funds, guidance on generating income
in retirement, including annuity purchase, capital
protected annuities, impaired life annuities, income
drawdown & more.
Protection Review
An assessment of any life or health protection
policies you currently have in place, whether
these have been arranged efficiently for tax
purposes, the level of cover they provide and
how suitable these are to protect the lifestyle of
you and your family.
Holistic Financial Report
This is the ideal option for someone looking at their full financial situation. The report will not make specific
product recommendation but instead highlight the areas where there is a need for both short and long term
planning. The report will provide the milestones to reach your ideal financial position.
Investment Review
An objective assessment of your risk tolerance
and complete review of existing investments
held, including the interest rates applicable on
cash deposits. Considering the use of ISA’s,
bonds, collective investments such as unit trusts
and other mutual funds.
3. Research and analysis
Once we understand more about you and your
circumstances we will then carry out product
research to enable us to identify the most suitable
recommendations to help you reach your goals.
If you require we can produce a full analysis of
areas that we feel you should consider over the
course of time. These may not be immediately
achievable, but will provide you the ideal financial
solution to work towards, potentially highlighting
issues you may not have considered.
4. Recommendations
Once we have help you to prioritise your
immediate needs we will present back to you our
report detailing the results of our research and
making personal recommendations including
specific product solutions that will support you in
achieving your personal needs & objectives.
5. Setting up the solutions
This process only begins once we have your
agreement on the arrangements to be put in place.
This will involve arranging investments or other
products, such as protection planning, on your
behalf or may extend to implementing a specific
financial planning process, such as estate planning.
We will act as the intermediary between the
product provider(s) and you with a view to
arranging the purchase of the Retail Investment
Products as we have agreed.
6. On-going Review Service
An on-going relationship with our clients has always
been integral to our business, as we believe that it
can add significant value to both individuals and
businesses.
Dependent upon your circumstances the future level
of interaction required may vary but the main
purpose of this is to monitor your on-going position
to ensure that the products continue to meet your
requirements.
Through regular reviews we can also develop the
planning strategies over time to take into account
your changing circumstances and objectives as well
as developments in economic conditions, legislation
(taxation etc.), new ideas and financial products. We
are able to offering differing levels of on-going
service to suit your current requirements.
Initial Services & Costs
Charges for the design, production and
implementation of a financial strategy are
calculated as follows:-
Holistic Financial Review
To collate, research and compile the report we will
charge a fee of £750.
In Respect of Lump Sum Investments and
Single Premium Pensions
The initial charge is calculated according to the size
of the transaction, as set out below:-
4% of the first £150,000,
3% on the next £100,000 and
2 % on any balance
In Respect of Regular Premium Pensions
(For a maximum 12-months’ premiums)
The initial charge is calculated according to the size
of the transaction, as set out below:-
50% of the first £250 of monthly premium
30% of the next £500 of monthly premium
10% of any amount over £750 of monthly
premium
Protection Assurance
For Protection Assurance which incorporates Life
Assurance, Income Protection & Critical Illness
products we are paid a commission by the product
provider if you take out a plan.
Mortgages
We charge a fee of up to 1% with a minimum fee of
£495 for mortgages and we will also be paid a
commission from the lender chosen. Alternatively
you could receive the commission from the lender
and pay us a fee of typically £995. The level charged
will be dependent upon amount of work involved.
General Insurance
For General Insurance products that include Home
Buildings and/or Contents we are paid a commission
by the product provider if you take out a plan.
Additional Services & Charges
Should you require any additional services or
bespoke work carried out over and above our
recommended service standards we apply an hourly
rate. Prior to any work being agreed and carried out
we will give an indication of the approximate amount
of time that these tasks might take. These additional
charges might be paid by single payment of via
regular monthly retainer payments.
The hourly rates are charged as follows;
Advice £175
Para Planning £75
Administration £50
Travel £50
All the fees outlined will be payable on completion of
the work & VAT will be charged where appropriate.
Services & Costs
On-Going Services & Costs
Set out below are the detailed elements for the indicative levels of on-going service that we offer. You
can if you wish to, add or enhance levels of service if you feel appropriate. Our charges for these
services can be seen below
Transactional Advice – A straightforward service to assist with a product sale with no on-going service
required after the initial transaction is complete.
Financial Advice – This service is typically centred on immediate client issues and needs that require
initial analysis and recommendations with on-going limited advisory updates.
Financial Planning - A more comprehensive service aimed at initial analysis, recommendation and
implementation in line with client’s immediate needs with an on-going review and recommendation
service to adapt to clients changing needs and circumstances.
Wealth Management - Building on the Financial Planning service above, this service offers more
frequent review and opportunity to ensure clients are kept informed of performance and maintained in
line with client’s circumstances and objectives. This may well include consultation with other specialist
advisers.
On-going Service Proposition Wealth
Management
Financial
Planning
Financial
Advice
Transactional
Advice
Level of Funds under Management £250k+ £250k -
£50k
£50k- £25k £25k>
Review of Investment performance, current
holdings & Investment commentary
Every
6 months
Every
12 months
Annual Face-to-Face review meeting. Covering:
• Re-assessment of Personal Circumstances
• Review of Goals & Objectives
• Fund Switching & Rebalancing as
appropriate
• Regulatory and Taxation updates
✓ ✓
Annual Valuation ✓ ✓ ✓
Annual Risk Profiling ✓ ✓ ✓
Annual Telephone Advisory Update ✓
Bi-Monthly E:Newsletter ✓ ✓ ✓ ✓
Support Services
Telephone and email access to professional adviser ✓ ✓ ✓ ✓
Dealing with inquiries & changes to your plans ✓ ✓ ✓ ✓
Liaising with providers on your behalf ✓ ✓ ✓ ✓
Introduction to professional legal services ✓ ✓ ✓ ✓
Liaising with your other professional advisers’ ✓ ✓ ✓
Annual Service Charge 1% 1% 0.75% n/a
Subject to minimum fee £2,500 £500 £250 n/a
Tel: 0845 319 8322 Email: [email protected] www.lbfinancialsolutions.com Offices in Colchester • London • Chelmsford • Ipswich
The value of the investment can go down as well as up and you may not get back as much as you put in.
Your home may be repossessed if you do not keep up repayments on your mortgage.
LB Financial Solutions Ltd is an appointed representative of Intrinsic Financial Planning Limited, which is authorised
and regulated by the Financial Services Authority.
Proposition Engagement
This document represents our standard Terms of Engagement, upon which we intend to rely. For
your own benefit and protection you should read these terms carefully before signing below. If you
do not understand any point please ask for further information.
You should seek legal advice in respect of your own specific requirements to ensure the validity of
this agreement.
Initial Fees; please select one of the following options;
Tick this box if you agree that our initial Fees are to be deducted from your investment
Tick this box if you agree to pay our initial Fees by cheque/bank transfer
On-Going Management Services; please opt in or out of on-going services below;
Tick this box if you require our Transactional Advice service.
Tick this box if you require our Financial Advice service
Tick this box if you require our Financial Planning service
Tick this box if you require our Wealth Management service
Customer Name(s)
Customer
signature(s)
Date of issue