We aim to provide all clients with a clear financial direction. This is achieved by gaining a full understanding of your current financial position, your objectives and identified needs; this enables us to provide suitable solutions for you in order to treat you fairly. Our aim is to reduce future barriers to these objectives and to maximise the opportunities for achieving your goals.
Your adviser will introduce themselves and the firm to you and provide you with a business card with their contact details.
The main purpose of this meeting will be to obtain as much information as possible relating to your financial circumstances and objectives. It is therefore beneficial if you can have available any details of policies, schemes, investments, mortgages, outgoings, wills, interests in trusts that you have.
This includes your basic personal details and an indication of your personal financial objectives.
A key area that your adviser will wish to fully understand is your knowledge and experience of investments including your ‘Attitude to Risk’ and your feelings towards any risks of losing money as this will impact significantly on the advice given. These objectives will be discussed and recorded.
Questions and next steps
If you have any questions during the process, please ask, as your adviser is happy to discuss any queries you may have.
Your adviser will then explain the next steps in the advice process to you.
If any fees are due at outset these will be explained, together with any authority forms that may need to be signed so that we can act on your behalf, for example to obtain the current valuations of any existing investments.
The meeting will typically last between one and two hours, depending on the complexity of your situation. You may wish to include other parties such as spouse, children or other professional advisers.
Research and report preparation
Where necessary, we will forward your letters of authority to the relevant product providers. The additional details issued by the provider will be analysed with the information gathered at the initial meeting. We may need to revert back to you for further information and ask your permission to liaise with your other professional advisers (accountant, solicitor, investment managers etc).
Using internal and external technical research we will prepare a report to suit your individual objectives. This will also be assessed against your attitude to risk, your time horizon, associated costs, past performance, asset allocation and expected returns.
We will endeavour, wherever possible, to consider tax planning opportunities and in this respect we will often wish to liaise with your other tax advisers. Please note that the Financial Services Authority does not regulate tax advice.
The research and report preparation may typically take 3-6 weeks to complete. We will liaise with you during the preparation process to inform you of any delays.
Report presentation (second meeting)
Depending on what we agree together, you will either be sent the report for you to review or we will arrange to meet again and discuss its contents.
The report will comprehensively outline your current position and will detail our professional observations in each area. By examining these observations against your stated objectives, we will recommend the actions we believe will, if followed, reduce the barriers to your objectives and minimise any risks we have identified and maximise the opportunities for achieving your goals.
These action points may cover various time horizons (immediate implementations and considerations for the future) dependent on any known or foreseeable events.
The report will also contain the supporting information behind the recommendation including where applicable, illustrations and product brochures (including key features documents).
Should you have any questions on any of the elements of the report please do ask as it is important you understand the reasons for the recommendations and how the recommended product(s), if applicable, works.
The costs associated with our recommendation(s) will be agreed prior to the work being commenced, and it will also be made clear in the report for you.
Where applicable we will enclose our invoice with the report, for the fee agreed which requires settlement within 14 days.
The second meeting will typically last between one and two hours, depending on the complexity of your situation. We again encourage you to include other parties such as spouse, children or other professional advisers.
If subsequent meetings are required these will be discussed and agreed.
Where this is not necessary, when we have received your instructions, generally a completed application form and payment, these will be forwarded to the relevant provider(s).
Details of any transactions undertaken through AWM will be recorded on our back office system.