How we do it step by step guide

As Independent Financial Advisers we are free to advise on financial products available from all product providers.

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1.Discovery

When we first meet, you will want to find out about us. We will then need to establish the facts of your financial life and to learn about your family and business circumstances, so that we can identify the areas requiring attention and improvement. You will want to discuss and decide upon your preferred level of service and how much it might cost. In short, the first meeting gives you an opportunity to find out how we work, and allows us to understand your situation.

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2.Preparation

We reflect on what you have and what you want, determine what you can achieve with existing resources and decide what you might need to do differently. Then we select from the whole market the financial products that are most suitable for you, and prepare a report detailing the financial plan and our recommendations.

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3.Presentation

First we present you with the written report for you to consider and discuss with us. This report demonstrates to you how the plan might work and how the ensuing recommendations are relevant, robust and suitable. The report will avoid jargon and irrelevant information. Then we invite and respond to your feedback, making changes, if necessary.

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4.Implementation

Once you are satisfied that the plan and the recommendations make sense, we implement it. We help to complete and submit applications forms and we ensure that all transactions are carried out in a timely fashion and in accordance with financial regulations.

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5.Review & continuing service

Once a plan is in place it needs to be maintained as you and your affairs change. We keep abreast of changing economic conditions, legislation and tax issues and respond to these changing circumstances by keeping you informed. If necessary, we will recommend changes to your plan. We keep up to date with your situation by periodically reviewing your plan, either in person or in writing, as preferred.

Costs

We recognise that every client’s circumstances are different and our fees reflect that. Our aim is to ensure our financial planning charges are clear, transparent and fair. 

Simple fee structure.

Many financial advisers bundle their fees, making it difficult to distinguish where charges apply. You may only pay a fee if you buy a product with them, but often they’ll add exit fees, effectively tying you in. 

At Ermin Fosse, we like to keep things clear. We make sure you know exactly who is paid what, for which services, and we will never charge you a fee when you sell your investments. The advice you receive from us is completely independent and free from product bias. We will never ask you to pay a charge until it has been fully explained to you and we will always ensure you understand exactly where your fee is going. 

A clear charging structure

Our first meeting gives you a chance to get to know us, and allows us to understand your financial circumstances, needs and ambitions. There is no cost to you and you’re under no obligation to commit to using our services. 

Once your financial adviser has established how you’d like us to work for you, we’ll provide you with a breakdown of our charges, split into the stages of the advice process.

a.    Initial advice – typically a set fee based on the complexity of the work involved and the time needed to prepare and present your personalised financial plan.

b.    Implementation – this fee is usually based on a percentage of the assets you’re investing and depends on where the money is coming from, your chosen investment products, the amount you’re investing and the size of portfolio you hold with us. 

c.    Ongoing management – for our ongoing service and management of your Ermin Fosse portfolio, we charge a fee based on a percentage of your investments.

We don’t expect to be the cheapest or the most expensive on the market, but with Ermin Fosse, you can be confident the financial planning services you receive are excellent value for money.