		about our services and the costs

		Russell House, Oxford Road, Bournemouth, Dorset. BH8 8EX
1. The Financial Services Authority (FSA)
The FSA is the independent watchdog that regulates financial services. This document is designed by the FSA to be given to consumers considering buying certain financial products. You need to read this important document. It explains the service you are being offered and how you will pay for it.
2. Whose products do we offer?
Investment
R	We offer products from the whole market.
	We only offer products from a limited number of companies.
	We only offer products from a single company.
Insurance
R	We offer products from a range of insurers for Term Assurance, Mortgage Protection Assurance, Critical Illness Insurance, Private Medical Insurance, Permanent Health Insurance
	We only offer products from a limited number of insurers.
	We only offer products from a single insurer.
3. Which service will we provide you with?
Investment
R	We will advise and make a recommendation for you after we have assessed your needs.
	You will not receive advice or a recommendation from us. We may ask some questions to narrow down the selection of products that we will provide details on. You will then need to make your own choice about how to proceed.
Insurance
R	We will advise and make a recommendation for you after we have assessed your needs for Term Assurance, Mortgage Protection Assurance, Critical Illness Insurance, Private Medical Insurance, Permanent Health Insurance.
	You will not receive advice or a recommendation from us in relation to Term Assurance, Mortgage Protection Assurance, Critical Illness, Private Medical Insurance & Permanent Health Insurance. We may ask some questions to narrow down the selection of products that we will provide details on. You will then need to make your own choice about how to proceed.
4. What will you have to pay us for our services?
Investment
Not all firms charge for advice in the same way. We will discuss your payment options with you and answer any questions you have. We will not charge you anything until you have agreed how we are to be paid. We have ticked the payment options we offer: Paying by fee. Whether you buy a product or not, on completion of our work, you will pay us a fee for our advice and services. If we also receive commission from the product provider when you buy a product, we will pass on the full value of that commission to you in one or more ways. For example, we could reduce our fee; or reduce your product charges; or increase your investment amount; or refund the commission to you. We will confirm the rate we will charge in writing before beginning work and we will tell you if you have to pay VAT. You may ask us for an estimate of how much in total we might charge. You may also ask us not to exceed a given amount without checking with you first. Our typical charges are: Hourly Rate Financial adviser £150 per hour Administration £90 per hour Fixed Project Fees – examples: - Initial financial planning surgery From £500 - A full pension review report including possible consolidation of existing policies. From £1,500 - A full bespoke financial planning report £1,500 - £5,000 - Arranging an ‘Open Market Option’ annuity £600 to £800 Paying by commission (through product charges). If you buy a financial product, we will normally receive commission on the sale from the product provider. Although you pay nothing up front, that does not mean our service is free. You still pay us indirectly through product charges. Product charges pay for the product provider’s own costs and any commission. These charges reduce the amount left for investment. If you buy direct, the product charges could be the same as when buying through an adviser, or they could be higher or lower. We will tell you how much the commission will be before you complete an investment, but you may ask for this information earlier. The amount of commission we receive will vary depending on the amount you invest and (sometimes) how long you invest, or your age. For example, v1 If you invested £100,000 in an Investment Bond we would receive commission of £3,000 (3%) and 0.5% of the value of the fund (approximately £500) every year. Paying by a combination of fee and commission (through product charges). In some circumstances, we may charge you a combination of fee and commission. The fee will not exceed the rates shown in this document. We will agree the rate we will charge before beginning work and we will tell you if you have to pay VAT. The fee will become payable on completion of our work. You may ask us for an estimate of how much in total we might charge. You may also ask us not to exceed a given amount without checking with you first. We will tell you how much the commission will be before you complete an investment, but you may ask for this information earlier. Where we charge a combination of fees and commission, our maximum rates are set out in the fee information and the commission sections above. In addition to the above we may charge a fee on a different basis for a specific transaction or project but we will agree this with you in advance.
Insurance
	A fee.
R	No fee for Term Assurance, Mortgage Protection Assurance, Critical Illness Insurance, Private Medical Insurance & Permanent Health Insurance.
You will receive a quotation which will tell you about any other fees relating to any particular insurance policy.









5. Who regulates us?
Southern Financial Services Ltd T/A LAfinancial is authorised and regulated by the Financial Services Authority. Our FSA Register number is 174623. Our permitted business is advising and arranging investments, pension transfers and insurance. You can check this on the FSA’s Register by visiting the FSA’s website www.fsa.gov.uk/register or by contacting the FSA on 0845 606 1234.
6. What to do if you have a complaint
If you wish to register a complaint, please contact us: In writing: The Managing Director, LAfinancial, Russell House, Oxford Road, Bournemouth Dorset. BH8 8EX. By phone: Telephone: 01202 786199. If you cannot settle your complaint with us, you may be entitled to refer it to the Financial Ombudsman Service.
7. Are we covered by the Financial Services Compensation Scheme (FSCS)?
We are covered by the FSCS. You may be entitled to compensation from the scheme if we cannot meet our obligations. This depends on the type of business and the circumstances of the claim.
Investment
Most types of investment business are covered for up to a maximum limit of £50,000.
Insurance
Insurance advising and arranging is covered for 90% of the claim, without any upper limit. For compulsory classes of insurance, insurance advising and arranging is covered for 100% of the claim, without any upper limit.
23/12/2010