Nicholls Stevens offers clients advice on a fee basis.
Our service and fees is broken down into four definite phases and clients can exit at any point.
Phase 1 – This is the initial meeting. At this meeting we discuss your needs and explain how we work and how we may help you.We will explain to you how much we will charge you for the work we need to do. You can be shown examples of our work and case studies of work we have done for other clients. In some instances where the client needs very simple advice there may be no need for any further meetings or work. There will be a charge of £50 for this meeting.
Phase 2 – If a report is needed, we will review your financial needs and assess your attitude to risk. We will then research your current financial position, income, expenditure, assets and liabilities, and your investments. We will then put forward a recommendation as to how your current situation can be changed to achieve your long-term goals. We normally quote a cost of preparing this report and it can be anything from £250 for a simple report to £5,000+ for a complex issue. In some instances we may work on a time basis in which case our hourly cost will be between £100 – £250 depending on the complexity of the work.
At this stage we give you a guarantee – the guarantee is that we will refund the cost of the report if it does not satisfy your financial needs
Phase 3 – If you need to make investments, or your investment portfolio needs to be re-arranged, we will charge a percentage of the amount invested/re-arranged. This cost is to cover the administration of the purchasing of the investments and will be quoted to you at the initial meeting. If you do not want to settle this by invoice, then the equivalent amount can be deducted from the investment, subject to your agreement with the Provider.
Phase 4 – We insist that most clients sign up to our review service. We believe that you cannot give proper financial advice unless it is constantly reviewed. We have three levels of service: silver; gold; and platinum. Typically a client with a relatively straightforward financial situation would require the silver service and would receive one review a year and ongoing administration of the investments. We will charge a fixed fee for each review which includes a full valuation and comment on the investments, as well as a client meeting to discuss changing circumstances. We will charge a percentage of the investments for ongoing administration.