How Charging For Financial Advice Works
Like most financial advisers, we charge in two stages. How these are charged varies depending on your situation, but we aim to keep things simple, fair, and tailored to your circumstances.
You’ll always receive a personalised illustration of all charges before proceeding with any recommendations.
Your first meeting is on us
It’s a chance to find out if financial advice is right for you - and if we’re the right fit for each other. There’s no obligation, and if now isn’t the right time for advice, we’ll always be honest.
Initial Advice Fee
We use three flexible approaches that can be used to suit your needs
At the start of the financial advice process, we'll recommend a charging structure best-aligned to your needs.
Initial fees can be deducted from your plan, invoiced, or paid via monthly premiums - whatever suits you best.
No VAT is due on any fees as financial services are exempt.
Still unsure? You can request a free digital copy of our Client Welcome Pack, which includes our full client agreement and fee disclosure documentation - so you know exactly where you stand.
What does the initial advice process look like?
We know that getting financial advice for the first time can feel intimidating, and you might not know what to expect. We keep your financial planning journey simple with a 4-step-process.
1
2
3
4
Meet
Pop in to the office for a no cost, no obligation initial consultation with one of our expert Independent Financial Advisers. We'll get to know you, your situation, and we'll work out if we're able to help you.
Plan
If we can help you - we'll start formulating your financial plan. We'll review your strengths, weaknesses, opportunities and threats before making any recommendations.
Present
Once we have fleshed out your financial plan, we'll meet again to discuss our recommendation in depth. We'll tell you exactly what we're recommending, why we're recommending it, and exactly what our fees are.
Implement
Once you're happy - and only when you're happy - we'll start implementing your plan. Once your plan is implemented you'll be receiving BlackBear's ongoing service.
Ongoing Service Fee
We provide a full ongoing service charged at a default rate of 0.75% per year, paid monthly from any investments and pensions that we look after.
For example, a £100,000 investment would cost £750 a year to manage, or £62.50 per month. This amount is deducted from the investment or pension directly, and the value will increase and decrease in line with the investment value.
This percentage amount be discounted depending on your portfolio or the level of service you require.