About our services

ABOUT OUR SERVICES

The information below sets out out the standard costs and charges that apply to the advice and service that we provide to clients. We will agree with you in writing the actual amount that will be payable before we carry out any business for you.

You need to read this important information. It explains the service you are being offered and how you will pay for it.


1. WHOSE PRODUCTS DO WE OFFER?

Investment
Please refer to section 2.


Insurance
We offer products from a range of insurers for life assurance and non-investment insurance contracts.
We only offer products from a limited number of insurers. Ask us for a list of the insurers we offer insurance from.
We only offer products from a single insurer.


Home Finance Products

1. Mortgages
We offer regulated mortgage contracts from the whole market.
We only offer regulated mortgage contracts from a limited number of companies.
We only offer regulated mortgage contracts from a single lender.
We do not offer regulated mortgage contracts.
We do not offer deals that you can only obtain by going direct to a lender.

2. Islamic Home Purchase Plans
We offer Islamic home purchase plans from the whole market.
We can only offer Islamic home purchase plans from a limited number of providers.
We can only offer Islamic home purchase plans from a single provider the Islamic Bank of Great Britain.


2. WHICH SERVICE WILL WE PROVIDE YOU WITH?

Investment
Independent advice – We will advise and make a recommendation for you after we have assessed your needs. Our recommendation will be based on a comprehensive and fair analysis of the market.
Restricted advice – We will advise and make a recommendation for you after we have assessed your needs, but we only offer advice on Group Pensions including Auto Enrolment through Royal London Plc.
No advice – 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
We will advise and make a recommendation for you after we have assessed your needs for life assurance and non-investment insurance.
You will not receive advice or a recommendation from us for life assurance and non-investment 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.

Home Finance Products

1. Mortgages

We will advise and make a recommendation for you on regulated mortgages contracts 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 regulated mortgages contracts we will provide details on. You will then need to make your own choice about how to proceed.

2. Islamic Home Purchase Plans

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.
You will not receive advice or a recommendation from us. We are able to introduce you to a single provider of Islamic Home Purchase Plans, The Islamic Bank of Britain.

All of the above services involve the arranging and bringing about a contract between you and another party, should you instruct us to proceed with our recommendation.


3. WHAT WILL YOU HAVE TO PAY US FOR OUR SERVICES?

Investment

  1. You will pay for our services on the basis of the work undertaken for you. 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.
  2. Please note that depending on the type of product, there may be other costs or taxes that are not paid through us or imposed by us.

 

Non-advised services

  1. We do not have a set cost or charge in relation to non-advised services. The amount you will pay will be dependent upon the type of transaction and value of the transaction that you engage us to implement. We can be paid in the form of a fee payable by you or by commission paid by the product provider. If you choose for us to be paid by commission, this does not mean you are not paying us, as the commission paid will be reflected in the charges that the provider makes against your transaction.
  2. We will discuss your payment options with you and answer any questions you have. If we are to be paid by commission, we will tell you the amount we will receive. If we are to be paid for implementing a transaction by a fee payable by you, we will not complete any business until we have agreed with you how much this will be and how we are to be paid.

 

Advised services

  1. You will pay for our services on the basis of the work undertaken for you. Generally, this will relate to the advising on and arranging of financial products on your behalf.
  2. We will discuss your payment options with you and answer any questions you have. We will tell you the specific amount payable before we carry out any chargeable work for you.

 

The cost of our services

  1. Our standard charges are broken down as follows:

ServiceAdviser ChargeNote
Initial meeting to explain what it is we do and to obtain information about you that will allow us to establish if we can assist you and indeed that you want our assistance.No chargeAt the end of the meeting we will agree how you wish to proceed.
A financial review report containing a full analysis of your current financial, personal and other circumstances and identification of any shortfalls in your financial plans.Charged at £150 per hour minimum two hours (£300)The value of any implementation fee may be used to offset these fees.
Restricted advice for the design, planning and implementation of Group pensions including Auto Enrolment pension arrangements.£450 plus (VAT)
+ £75 plus (VAT) per eligible employee
Provision of a detailed specific recommendation or recommendations report on how best to address any shortfalls in your financial plans, and identify the terms of an appropriate financial product.Charges at £150 per hour
Average: 4 hours per recommendation (£600)
Provision of a detailed report and recommendation in relation to Long Term Care provisions or Home Purchase Plans, and identify the terms of an appropriate financial product.Charged at £200 per hour
Average 2½ hours (£500)
Transfer analysis report (TVAS) for final salary pension advice only.

Provision of a detailed report (including TVAS) and recommendation in relation to Occupation Pension Scheme Transfers, and identify the terms of an appropriate financial product.
£250 plus VAT

£1500 plus VAT
Implementation of any agreed personal recommendations.Charged as a percentage of total amount invested. We will take into account any existing funds under our management.

Up to £200,000 3.0%
£200,000 - £300,000 2.5%
£300,000 - £400,000 2.0%
£400,000 - £1M 1.75%
£1,000,000 plus 1.5%

Regular Premiums Only
Charged at 20% of the 1st years premiums for regular premiums
For example, a new investment of £50,000 we would charge £1500.

For an additional investment of £50,000 into an existing portfolio of £200,000, the charge would be £1250.

For example, for a monthly premium of £100 we would charge £240
Specialist Investment Solutions (eg Enterprise Investment Schemes (EIS) & Venture Capital Trust (VCT) investments2.5% initial fee with 0.5% ongoing fee
We strongly believe that having regular meetings with our clients allows us not only to develop a greater rapport but also a deeper understanding of their needs and goals. By constantly appraising the markets and ensuring that we have the most up to date knowledge of financial developments, legislation and the marketplace, we can provide our clients with the best possible solutions to meet their financial requirements and needs.Engaging us to provide you with an ongoing service is OPTIONAL. If you wish to receive an ongoing service, there will be an additional charge. Please see the “Payment for ongoing services” section of this document for more details before making a decision.

Note: VAT may apply in some circumstances. We will tell you if VAT is to be paid.

YOUR PAYMENT OPTIONS

Settling your adviser charge through a single payment

  1. Whether you buy a product or not you will be required to pay us an adviser charge for our advice and services, this will become payable on completion of our work. You may decide to settle your adviser charge by way of a single payment either by cheque, debit card, credit card or bank transfer. Where you have purchased a product you may also have the option of paying our adviser charge by a single deduction from the products.

 

Settling your adviser charge by instalments

  1. In the case of regular premium products, you may have the option of paying our adviser charge over an agreed period of time but within 12 months of our advice. We will agree with you the amount and timescale of payment that is best for you. The instalments only cover the adviser charge, and will not cover the cost of any ongoing service, which will be agreed with you separately.

 

a. Paying by instalments through your recommended product
Some regular premium product providers will accept your specific instruction to pay our adviser charge from the product you have purchased. They will require you to instruct them of the amount to be paid for each instalment and the number of instalments to be made.

Whilst this option means that you will not pay us up front, it does not mean that you are not paying us. Our adviser charge will be paid indirectly through the product deductions. These deductions could reduce the amount left for investment.

b. Paying by other arrangements
We can facilitate payment by instalments through a direct debit or standing order agreement.

Keeping up with your payments

  1. It is important that where you have decided to pay your adviser charge by way of instalments that you keep up with your payments. Where you do not keep up with your instalments payment, the outstanding amount will become immediately payable on demand.

 

Payment for ongoing services (individuals)

  1. Any ongoing service is optional.
  2. We offer a comprehensive financial planning service where we take a holistic approach to your planning needs. Where you request and we agree to provide an ongoing service to you there will be an additional charge for this. The charge is related to the overall funds held under management.

Assets Under ManagementPayment Direct from Client or paid through product funds 
Up to £50,000£250 per yearThis includes a two yearly review
£50,000 – £100,000£500 per yearThis includes a holistic annual review
£100,000 – £150,000£750 per yearThis includes a holistic annual review
£150,000 – £200,000£1000 per yearThis includes a holistic annual review
£200,000 – £250,000£1250 per yearThis includes a holistic annual review
£250,000 – £300,000 £1500 per yearThis includes a holistic annual review
£300,000 – £400,000£1750 per yearThis includes a holistic annual review
£400,000 – £1m£2000 per yearThis includes a holistic annual review
£1m+£2500 per yearThis includes a holistic annual review

  1. Our ongoing service covers a large range of services (please see our ‘ongoing services and deliverables information). You may decide that you wish to be a Transactional only client. Please note that if you opt not to take advantage of our ongoing service agreement we will charge £150 per hour for any additional work undertaken at your request with a minimum fee of £150 i.e. one hours work.
  2. Please note that if you pay for ongoing services on a percentage basis, that the amount we receive may increase as the fund value increases and conversely reduce if the fund value falls.
  3. The ongoing service charge can be paid by way of a deduction from your investments (excluding auto enrolment and Group Pension Servicing) or by direct payment from you under a bank transfer, direct debit or standing order as a single payment or instalments. Any payments will be payable in advance of us providing the review service in each period.
  4. An ongoing service can be cancelled by either party having issued the other party 30 days written notice of cancellation and subject to the delivery of any outstanding items by the Second Party and any settlement of any outstanding monies due to the Second Party by the First Party.
  5. Please note that VAT may apply to our ongoing service fees. We will tell you if VAT is to be paid.

 

Payment for ongoing services (non-individual)

Auto Enrolment & Group Pension PlanMonthly Fee
Number of Staff
1–10£100 + VAT
11–25£125 + VAT
26–50£150 + VAT
50+£200 + VAT

Insurance Based products

A fee.
No fee. We will receive commission from the insurance company selected for life assurance and non-investment insurance.

  1. You will receive a quotation which will tell you about any other fees relating to any particular insurance policy.

 

Home Finance Products

Mortgages

No fee. We will be paid by commission from the lender.
For our mortgage service there is a non-refundable Mortgage Processing Fee of £100 when we commence of work on your behalf. On signing our Client Agreement, you are confirming acceptance of this.

Additional Completion Fees are payable as follows:

Borrowing up to £50,000£250
Borrowing £50,001 to £100,000£200
Borrowing £100,001 to £150,000£100
Borrowing £150,001 and aboveNo Additional Fee Payable

The Completion Fees listed above will become due when the mortgage offer is received and you will be invoiced at this time. The fee is not refundable; however, we will not charge an additional fee for a single new application if you do not complete on the original mortgage.

For arranging a mortgage where the lender does not pay a Broker Fee we will charge a fee of 0.5% of the value of the loan, subject to a minimum fee of £500, for example a loan of £200,000 will result in a Completion fee of £1000.

  1. Where the chosen lender pays us commission for introducing you to them for the mortgage, we will tell you the amount we will receive.
  2. You will receive a key facts illustration when considering a particular mortgage or home purchase plan, which will tell you about any fees relating to it.

 

Refund of fees

  1. If we charge you a fee, and your mortgage does not go ahead, you will receive:

A full refund
No refund

Islamic Home Purchase Plans

No fee. We will be paid by an introducer fee from the provider.
A fee of £500 is payable. This consists of a processing fee of £195 is payable immediately and £305 payable on completion.

Where the chosen provider pays us commission for introducing you to them for the Home Purchase Plan, this will reduce the amount that we would ask you to pay on completion.

Refund of fees

  1. If we charge you a fee, and your Islamic Home Purchase Plan does not go ahead, you will receive:

A full refund
No refund

  1. If a fee for our services is to be deducted, or a commission paid from a recommended product, should the product not proceed or be cancelled, and this results in the non-payment of the fee or commission, the amount will be payable by you directly.

4. LOANS AND OWNERSHIP

  1. NKT Financial Solutions Ltd is an appointed representative of In Partnership the trading name of The On-Line Partnership Limited which is authorised and regulated by the Financial Conduct Authority.
  2. The On-Line Partnership Limited is a wholly owned subsidiary of The On-Line Partnership Group Limited, which in turn is a wholly owned subsidiary of Russell Investments Systems Limited.
  3. From time to time, The On-Line Partnership Limited may provide its appointed representatives with business loans and/or other short-term financial assistance.

 

Message from the Financial Conduct Authority:
Think carefully about the product and services you need. If you want information or advice on standard mortgages, please ask.