Our Investment Charges
When you become a client of Firco you pay for our advice. These charges can be seen via the links below. You will receive a personalised illustration which sets out how these charges apply to your specific investment, pension or savings from Firco prior to you making an informed decision and incurring any of these charges.
You will always know our fees before you make a decision to proceed. We don’t hide our costs and have a transparent charging structure, so you can be sure we are working efficiently for your benefit.
It is important that you know what to expect in terms of the services we provide, and that you understand our commitment to you in the provision of those services. We intend to be professional, clear and fair in our dealings with you, and will always ensure that any service or recommendation provided is in your best interests.
Our Initial Fees
You will pay for our services on the basis of a charge. We will discuss your payment options with you and answer any questions you have. We will not charge you until we have agreed with you how we are to be paid.
Lump Sum Investments
Wealth Management
This service is designed for general financial planning regarding savings or investment plans.
Investment Management
With this service we provide advice on short-term investment planning and will focus on funds, securities and ETFs.
Maximum of 3% of the amount invested as follows:
- 3% of the first £200,000
- 2% of the balance from £200,000 to £500,000
- 0.5% of the balance over £500,000
Charge Examples
- Wealth & Investment Management – We arrange an investment of £100,000 on your behalf.
The initial charge will be 3% of the £100,000 invested, i.e. £3,000.
- Wealth & Investment Management – We arrange an investment of £400,000 on your behalf.
The initial charge will be 3% of the first £200,000 of the fund value, and 2% of the remaining £200,000. The overall initial charge will therefore be 2.5%, i.e. £10,000.
Holistic Financial Planning
Holistic Financial Planning
This is service we provide for financial planning matters, specifically taking retirement benefits, pension transfers, estate planning and long-term care provision, which demand a more specialised and time-intensive approach and holistic research.
- 3% of the amount invested
Charge Example
- Holistic Financial Planning – You require a recommendation on the suitability of transferring a personal pension of £300,000.
The initial charge will be 3% of the £300,000 fund value. The overall initial charge will therefore be £9,000.
These fees are subject to the overall recommendation meeting the minimum advice fee.
Initial Minimum Advice Fee
All of our fees are subject to the overall recommendation meeting the minimum advice fee.
The initial fees outlined above are raised when the investment is made.
- If you are a client, then the initial advice and implementation fees as well as the ongoing fees above will be subject to our minimum figure of £750.
- If you ask us to stop work after agreeing to these fees you will be invoiced at least the minimum fee of £750. If detailed recommendations with illustrations have not been provided and discussed with you at this point; it is likely that VAT is due on these fees.
- Any recommendations that involve the transfer of a defined benefit pension will be subject to a minimum charge of £4,000.
Existing Arrangements
If you already have a product or portfolio with another company, we will first conduct an analysis of what you have. This will help us to advise you on how likely you may be to achieve your long-term goals in your current position, and we may recommend that this is retained. However, should we find clear indicators that your interests will be better served by moving then we may recommend that you take action.
When our work involves an adjustment to your existing sum of money, without the need to transfer to a new arrangement, our fees are as follows:
- 1% of the investment amount
These fees are subject to the overall recommendation meeting the minimum advice fee.
Regular Premium
Our charge for implementing a regular contribution savings or investment and pension plans is £750. See our examples listed below:
- If your monthly contribution is £50 our Policy Arrangement & Implementation fee would be £750. As this is the fixed fee and also the ‘minimum fee required’ we would charge you. The total fee payable would be £750.
- If your monthly contribution is £200 our Policy Arrangement & Implementation fee would be £750. As this is the fixed fee and also the ‘minimum fee required’ we would charge you. The total fee payable would be £750.
Our Ongoing Service Fees
Different clients require different levels of service and we have three options to meet your individual requirements. The ongoing service levels available to you are:
- Financial Planning – 1%
- Financial Planning Lite – 0.75%
- Transactional Only – 0%
We list here 3 examples to the above charges to help you understand how these would be applied;
- If your investments are valued at £50,000 and you have selected Financial Planning Lite (0.75%) the ongoing management fee we would receive is £375.
The charge of £375 would be below our minimum fee and we would charge the difference of £375 to you at the end of annual period from when this agreement was dated. The total fee payable would be £750 per annum.
- If your investments are valued at £200,000 and you have selected Financial Planning Lite (0.75%) the ongoing management fee we would receive is £1,500 per annum.
- If your investments are valued at £250,000 and you have selected Financial Planning (1%) the ongoing management fee we would receive is £2,500 per annum.
The annual minimum charge for our ongoing servicing level is £750.
We provide you with impartial advice and services, delivered in plain English and tailored to your individual needs. We will never pressure-sell and we will ensure that the service we provide fully complies with the law. Above all, we will treat every client with respect and provide personal attention from your first enquiry.
We arrange bespoke solutions for our clients, providing a tailored one-to-one advisory service, delivered face-to-face or remotely, depending on what suits you.
Please click on ‘Become a Client, Enquire Now’ at the bottom of the page and complete the enquiry form and we will normally contact you within the same working day during business hours or if you would prefer us to contact you outside normal business hours then please advise and we will quite happily do so. Alternatively you can email us with details about your requirements to info@fircogroup.co.uk or call us on 0151 372 0388
