Menu of Charges

Servicing Costs

Initial Meeting and Fact Find Free

Full Financial Planning Review Meeting £750

Ancillary Servicing Costs

Surrender Policy Advice £200

Inheritance Tax Surrender Policy Advice £350

Switching Funds Advice £200 per policy

Adding Additional Trustees £90 per policy

Arranging Income Withdrawals £75 per policy

Arranging Trust for Existing Investment, Savings £750

or Whole of Life Assurance Policy

Arranging Trust for Protection Policy £250

Deed of Assignment £250

Ongoing Servicing Agreement £45.00 (from, per month for Silver Service)

Investment Planning Report £250

Inheritance Tax Planning Report £350

Inheritance Tax and Investment Planning Report £450

Retirement Planning Report £1,000

Policy Commencement Commissions/Fees:

(I.e. proceeding with recommendations)

Product

Commission

Fee

Investment Arrangement

3.5% + 0.5%pa

£3,750
+ 1% of the fund value per annum

Discounted Gift Trust

4.5% + 0.5%pa

£1,500

Loan Trust

4.5% + 0. 5%pa

£1,500

Flexible/Standard Trust

4.5% + 0.5%pa

£1,000

Discretionary Trust

4.5% + 0.5%pa

£1,500

Whole of Life Assurance for IHT

125% of first years premiums

£1,500

Retirement Planning Single Premium

3.5% + 0.5pa

£2,750
+ 1% of the fund value per annum

Retirement Planning Monthly Premium

50% of first years premiums payable by commission, in addition to a fee of £500 payable up-front

£1,500

Pension Transfers

3.5% + 0.5%pa

£3,750
+ 1% of the fund value per annum

Retirement Annuities

2% commission in addition to a fee of £600 payable up-front

£1,500

Savings Planning

5% of annual contribution + 0.5% of fund value per annum

£1,000
+ 1% of fund value per annum

Protection Planning

The prevailing commission subject to a minimum of £500 payable by either commission or fee payable up-front **

£750 per policy

**

Mortgage Advice

A fee of £250 payable up-front in addition we will be paid a Procuration Fee from Lender, usually 0.5% of loan. ***

N/A

** Re Protection Planning, there is no up-front fee when applying for a protection policy with a mortgage application.

*** The mortgage fee of £250 will be refunded to you if the procuration fee and any commission from related protection policies applied for at the same time as the mortgage, totals £1,250 or more.

The above costs all refer to each policy purchased.

Commission:

The Commission Charges, are based on a percentage of the investment/premium and will be payable by the provider shortly after the policy start date.

The second percentage, i.e. “0.75%” is the annual renewal commission, paid annually to CWM as long as the policy is in force. This is non-negotiable.

Providers often offer more commission than we take, if this is the case, then any excess commission is credited back to your new plan.

When opting for the commission route, the initial Planning Report Fee will be credited to your new plan.

Fees:

The Fee Charges are irrelevant of the size of the investment/premium.

One half of the Fee Charge is payable up-front, i.e. before completion of the application forms. The remaining half of the Fee Charge will be invoiced at that time with 30 days to pay.

The “1% per annum of fund value” will be paid from the plan each year as long as the policy is in force. This percentage is non-negotiable.

If your investment amount exceeds £150,000 at the commencement of the plan, this cost will provide you with a Silver Servicing Agreement free of charge, subject to City Wealth Management LLP receiving a sufficient percentage of fund value per annum. If you wish to increase this Servicing Agreement to Gold or Platinum then the cost for this will be the difference between Silver and the chosen Gold or Platinum Agreement, payable by monthly Direct Debit.

When paying by Fee Option, the commissions (in the case of investments) are credited back to your new plan.

Refunds:

In the case where you have paid the Fee Charge either in half or full payment, and decide not to proceed with your new policy, then we will only retain half of the total Fee Charge.

In the case where the 1% Investment Charge has been paid, and the investment does not proceed, then a full refund of this charge will be refunded.

In the case of an adverse underwriting decision where it is not advisable or possible to proceed with an application, a charge of £250 will be deducted from any Fee Charge paid to cover the cost of our work and the rest will be refunded. However in the event of an adverse underwriting decision, where the client has not fully disclosed medical information, leading to an adverse decision then no refund will be made.

Our Service

Here at City Wealth Management LLP we take pride in the service that we offer our clients. In order to treat our customers fairly, we always try to charge clients the same commissions and/or fees for each and every client, so that no one is disadvantaged.

We charge a flat percentage or fee, so this is the same regardless of which provider we recommend and therefore the commission would not vary between them. This helps lay our clients’ minds at rest as they can see that we are not recommending products because of the amount of commission that is received from that provider.

At certain times, it will however be necessary to charge clients an additional fee when work required is far more comprehensive than the standard commission/fee covers. For example, for a very small investment where the percentage of commission is minimal, we may be unable to carry out the level of work required for such a small sum. This will always be discussed prior to making recommendations to ensure that you are happy to proceed.