FEE AGREEMENT SUMMARY OF OUR CHARGES THE CONTRACT by a2302339

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									                                           FEE AGREEMENT
DATED :

BETWEEN :

Paul McAllen & Co. Limited of Suite 2c York House, 12 High Street Amblecote, Stourbridge, DY8
4BT (“we, us, our”);

AND: ……………………………… ………………………………of
              [Insert Name of Client]

……………………………………………………………………………(“you, your”).
              [Insert Address of Client]


                              SUMMARY OF OUR CHARGES
   •   the initial consultation is free
   •   the minimum cost to employ us for an initial “MOT” of your financial plans is £250
   •   following the “MOT”, the cost of our advice service is £100 per hour or 3% of the
       transactions if greater
   •   in addition, for ongoing monitoring and servicing of your plans there is an annual fee of 1%
       of the value of your plan, which covers ongoing advice and periodical reviews as agreed
   •    if we arrange a financial product for you, the cost of our advice – the fees – can be met by
       commission if that is your preference; we only ever take 3% commission, so we earn the
       same whether you choose to pay by fee or commission (any additional commission offered
       by the provider is rebated back into your plan(s))
   •   other fees may apply for discretionary management, additional work, etc
   •   we also offer a Platinum Service with additional more regular and more detailed reviews of
       your portfolio for an additional monthly fee

                                           THE CONTRACT
BACKGROUND

We are directly regulated by The Financial Services Authority (within the meaning of the Financial
Services and Markets Act 2000) and are authorised under that Act to carry on certain regulated
activities including arranging and advising on a variety of financial products, polices and services
(“the Products”). As an Independent Financial Adviser we are permitted to provide clients with
advice and/or services relating to Products.

You have expressed a wish to engage us to provide you with our advice and services in relation to
the Products on the terms and conditions of this Agreement.

IT IS NOW AGREED THAT:

1. The Advice and/or Services

In consideration of your payment to us of the fee(s) set out in paragraph 4 below, we will provide
you with the following services:
       gather and analyse personal information about you, your finances, your needs and
       objectives;
       recommend and discuss any action we think you should take and, with your agreement,
       arrange relevant investments for you.
2. Provision of Information

So that we can properly fulfil our obligations to you when providing the advice and/or services
specified in paragraph1 above, you must provide us with such information that we may reasonably
request as soon as possible.


3. Time

By signing this agreement you give us your authority to commence the provision of the advice
and/or the services. We will agree with you a timescale for the provision of the advice and/or the
services and use our reasonable endeavours to ensure that we comply with all deadlines and
timescales. We will keep you informed of any delays which may occur.

4. Fees

Our aim is to provide you with the advice and/or services within an efficient, trustworthy and
transparent framework.
We will endeavour to agree a fixed fee to cover specific advice and/or services. For work involving
more detailed advice and/or services we will endeavour to agree an hourly rate based on a
reasonable estimate of the time involved, the complexity of the assignment and the degree of
specialisation required to deliver the advice and/or services to a proper professional standard. If
possible, we will specify the total amount of fees for which you will be liable.
The fee(s) payable by you to us for the provision of the advice and/or services depends on the type
of transaction or advice you ask us to provide and will be as follows:

   •   a minimum fixed fee of £250
    and/or
   •   a fee of £100 per hour
      (subject to no maximum, although a typical fee for a typical case is between
      £1,500 and £2,000, which reflects the work required for a typical client, i.e. 15
      to 20 hours) or 3% of the value of the transaction, if greater;
    and/or
   •   (in relation to transactional arrangements such as the implementation of
      investment portfolios, pension funds or other Products) a fixed fee equal to 3%
      of the total value of the investment at the date of the transaction
    and/or
   •   a servicing and retainer fee of 1% of the value of your fund each year, which
       can be payable from the fund or directly from you or £50 per month if greater,
       payable by standing order
All fees will be due and payable by you to us within 28 days of your receipt of our invoice. All fee
amounts quoted above are exclusive of VAT; VAT will be added to the invoice if applicable.
Disbursements may also be charged if specifically agreed between us.
5. Commission

Any commission that would otherwise be payable to us in respect of any Products arranged by us
on your behalf will (subject to any legislative restrictions or constraints inherent in the Products) be

   •   rebated to you in the form of enhanced benefits; or

   •   used to reduce your regular premiums; or

   •   (if the commission is received by us) offset against our fees (as agreed in paragraph 4
       above).

6. Repayment of Commission

If we are obliged to repay to the provider of a Product any commission received by us in respect of
a Product which we arrange for you, then we reserve the right to charge you a reasonable fee to
cover the cost to us of repaying that commission and your acceptance of this agreement expressly
agrees to this point.


7. Termination and Consequences of termination

Unless there is ongoing advice and/or services to be provided and/or a retainer is payable, this
agreement will end automatically once the advice and/or the services have been provided by us and
you have paid our fees in full together with any disbursements.

If we have requested information from you in order to provide the advice and/or services, but you
have been unable or willing to provide this information, then we may end this agreement by giving
immediate written notice to you.

You may end this agreement by giving us 7 days written notice and paying us any fees due and
disbursements incurred by us on your behalf as at the date of termination.

If we have agreed an hourly rate with you for our advice and/or services, but our work for such
advice and/or services is not yet completed as at the date of termination, then you will pay us for the
time already spent on providing such advice and/or services (or preparing to provide them) at the
rate previously agreed between us.

If we have agreed a retainer with you, and you terminate this agreement by giving us written notice,
we will not be obliged to give you any refund either in whole or in part for any retainer which you
have already paid us.

Either you or we may terminate this agreement by immediate written notice if the other commits a
material breach (which is incapable of remedy or not remedied within 14 days of the breach) of this
agreement or becomes insolvent.

If either you or we are an individual, then this agreement will terminate automatically upon the death
or mental incapacity of either one. In any event, this agreement will automatically terminate if we
cease to be an Independent Financial Adviser.
8. General Provisions

You will not be entitled to transfer, assign or novate the benefit of this agreement.

No person who is not party to this agreement will have any rights under the Contracts (Rights of
Third Parties) Act 1999.

We may vary this agreement by immediate written notice to you if required to do so by any regulator
having jurisdiction over us.

Neither you nor we shall be liable for any loss or damage caused to the other by circumstances
beyond you or our reasonable control.

This agreement will be construed in accordance with English Law and both we and you submit to
the exclusive jurisdiction of the English Courts.

We reserves the right to levy VAT in addition to any amount stated in the fee agreement if the
service to which such amount relates is subsequently deemed to be taxable for VAT purposes."




Signed for and on behalf of Paul McAllen & Co. Limited

Signature:                    ………………………………………….

Print Name:                   Paul McAllen Dip PFS,
                              Independent Financial Adviser
                              Member of the Personal Finance Society by Diploma



Signed by (client(s))

Signature(s):                 ……………………………………                                 ……………………………………

Print Name(s):                ……………………………………                                 ……………………………………
                              PLATINUM SERVICE

Our standard service includes the offer of a periodical review of your investments and financial
plans.

For an additional fee of £50 per month, payable by standing order, we will offer you a quarterly
review of your investment portfolio, by post or face to face as necessary.

Our experience is that more regular reviews can improve the long-term returns for a client’s
investment portfolio (although this can not be guaranteed).

The agreement to provide this service can be terminated by either party with one month’s written
notice.

To proceed, please complete and sign the attached Standing Order form. Your signature on that
form will be interpreted as the agreement to the terms of the Platinum Service.
                               PLATINUM SERVICE




                                                            Your address




Your bank’s address




STANDING ORDER REQUEST              …………………………                    …………………………
                                        Your Sort Code                 Your Account Number




Dear Sir/Madam,


Please commence payments of £              per month with effect from …………… and until further
notice from the above account, to the account of Paul McAllen & Co. Limited, as follows:

                      Sort Code:              09-06-66

                      Account Number:         43547861

Please can you write to me to confirm that this has been done, and please copy-in my adviser Paul
McAllen & Co. Limited, Suite 2c York House, 12 High Street Amblecote, Stourbridge, DY8 4BT.
Please also direct any queries you may have to Paul McAllen & Co. Limited on 01384 373899.

Yours faithfully,



Signature(s):                ……………………………………                       ……………………………………

Print Name(s):               ……………………………………                       ……………………………………

Date:                        ……………………………………                       ……………………………………

								
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