How we are paid
Prospective clients are invited to our offices in Sunningdale for a preliminary meeting.
The purposes of this meeting are threefold:
- AWA to decide "Are AWA able to assist with your needs and objectives?"
- you to decide "Do I wish to work with AWA?"
- agree how AWA will be paid if you instruct the firm.
This preliminary meeting is at our expense; there are no obligations on either side.
During this meeting we will agree with you whether you pay us a fee or we are paid from the cost of any financial product you buy (commission). We will always tell you about any commission we earn, and it will be taken into account in working out our fee.
Commission is paid to an IFA practice by a provider, for example an investment manager or an insurance company. The commission is included within the provider's normal product charges, so if you and AWA agree on this basis of payment there is nothing you need to pay us in addition. The amount of commission is usually based on a percentage of the amount invested or premiums payable.
Fees will usually be based on time spent, at an hourly rate calculated to recover our costs. We will always tell you about any commission we earn, and it will be taken into account in calculating our fee. Note that, whilst we do not normally offer mortgage advice to new clients, AWA will include mortgage requirements within our discussion of your needs and, if necessary, refer to you a broker who can assist in this area.
Whether we take our remuneration by way of commission or fees will be a matter of discussion and agreement, and no charges for fees will be made without prior notification in writing.