Our Advice Process We need to get to know you. We need to know what you expect from your investments whether it be your regular savings, your capital investments or your pension fund, we have to understand you and your investment objectives. We also need to know what your attitude to, and capacity for investment risk is. No investment comes without risk! Part of our job is to make sure that you understand risk and that you are only exposed to it at a level with which you are comfortable.
Also, you need to have the opportunity of deciding whether or not you are comfortable in working with us to achieve your financial goals.
To achieve these objectives we need to meet. You will be visited at our cost for a broad discussion about your circumstances and your aims. We will talk to you about different levels of risk in investments and we will begin to map your path to successful investment.
The Next Step: If we both agree that we can work together we will then conduct an in-depth fact find to establish exactly where you are now financially and importantly, where you want to go. From this information we will build our recommendations which will take into account all of your circumstances. We will also carry out an Investor Risk Profiling exercise to help us understand you and the most suitable investments for you.
Please remember that we are INDEPENDENT FINANCIAL ADVISERS. This not only means that we are not constrained by any links or bias towards any investment but indeed we are required to consider all possible solutions from the whole of the market, and this is exactly what we do. We will not make recommendations unless we are satisfied that they are appropriate for you and your expected circumstances.And then ...... Implementation: We will next present to you our recommendations, agree with you the timescale for the implementation of your plans and agree the basis upon which you will pay us for our services. Financial advice has never been free! In the past product and service providers paid commissions to advisers when investments were introduced. Commisions were paid for by the investor by way of product charges. This system no longer is allowed. Advisers MUST now charge the investor directly for the advice. This system is known as Adviser Charging. As a result of this change product charges and fund management costs have broadly fallen giving you, the investor, control over your advice costs and removing any possibility of commission bias being evident.
You will incur no costs during the first step of the investment process.
Should you become a client of Paul Dodd Asset Management Limited you will be offered the following ways of paying our fees:
- An hourly rate - payable by you, directly to us. We charge different rates for advice and administration. We will offer an estimate of your costs.
- An initial fee followed by a monthly retainer - again payable by you, directly to us.
- An initial fee followed by ongoing service fees deducted from your investment or pension fund - payable to us by your investment provider.
An Important Message: Once we have arranged your investments we will monitor them on your behalf. We will report progress to you regularly and we will review your position constantly. This enables us to make any suitable recommendation to you regarding any changes that are appropriate as a result of legislation, taxation, markets or simply a change in your own circumstances.