How we are paid
On receiving an enquiry we invite a prospective
client to come to our offices for a preliminary meeting. The purpose of the
meeting is firstly to establish whether we are able to assist with the
prospective client's needs and objectives. Secondly to discuss how we would be
paid for our services should we be instructed to proceed. There is no charge for
this preliminary meeting and no obligation on either side.
After the initial free
consultation, we will agree whether it is preferred to pay us a fee, or whether we should be paid
from the cost of any financial product required (commission). We always
provide full disclosure of any commission earned, and this will be taken into account in
calculating any fee.
Fees will usually be based
on time spent and evaluated at a rate per hour calculated to recover our costs.
Fees attract an additional VAT charge, (apart from mortgage broking fees), whereas commission, under current
legislation, does not.
Commission is paid to an IFA
firm by a provider, usually an insurance company or an investment house, for the
successful placing of business. The commission is included within the providers
normal product charges, therefore, in most instances, there will be no further cost to the client. The
amount of commission is based on a percentage of the premiums payable or sums
invested.
Whether we take our
remuneration by way of fees or commission will be a matter of discussion and
agreement, and no charges for fees will be made without prior notification in
writing.
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Southern Financial Services Ltd is authorised and regulated by the Financial Services Authority (www.fsa.gov.uk/register). FSA Registration No: 174623 The Financial Services Authority does not regulate National Savings or some forms of mortgage, tax planning, offshore investments or school fees planning. The information contained within this site is subject to the UK regulatory regime and is therefore targeted at consumers based in the UK only. Please read our Privacy Statement before completing any enquiry form or before sending an email to us. Southern Financial Services Ltd Neither Southern Financial Services Ltd nor its representatives can be held responsible for the accuracy of the contents/information contained within the linked site(s) accessible from this page.
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