Fee Agreement This agreement is made between Mike Robertson Associates Limited , acting as an Appointed Representative and Agent of Lighthouse Advisory Services Limited, and:
Client name(s) Invoice address
Postcode Date
1.
General terms and conditions
• This agreement is supplementary to the document called “How we work with our clients: services and fees” and the Client Agreement issued by Mike Robertson Associates Limited and sets out the basis upon which we will charge you for the financial advice we provide.
• • •
Mike Robertson Associates Limited is an appointed representative of Lighthouse Advisory Services Limited, which is
authorised and regulated by the Financial Conduct Authority (FCA) and is bound by its rules. The FCA requires us to provide you with suitable advice and services based on the information you provide to us about your circumstances. This agreement is subject to English Law and the exclusive jurisdiction of the courts of England and Wales.
2.
The relationship • We are providing professional services and you are purchasing that service or services. The relationship between you and us shall not be deemed to be that of principal and agent, nor shall it be deemed to be that of employer and employee.
3.
Your obligations • You agree to use your best endeavours to provide us with complete and up-to-date information regarding your personal and financial circumstances including your financial investment objectives. • During the term of this Agreement, you must notify us of any material change to your circumstances.
4.
Services • We have agreed to provide you with the following service(s):
5.
Fees We have agreed the following fees, which are covered by this agreement. Please tick the appropriate boxes: REPORT FEE REPORT TYPE
FEE
Financial overview
☐
Fee
£
Focused recommendations
☐
VAT
£
Comprehensive recommendations
☐
Total Fee
£
If you transact business with us as a result of the report, this fee will / will not be waived. This fee will be payable if you decide not to proceed with our recommendations.
IMPLEMENTATION FEE PLAN TYPE
Investment and pension – lump sum
☐
Investment and pension – regular contributions
☐
Insurance-based products
☐
Drawdown pension
☐
Annuity purchase
☐
Mortgage
☐ Charges
A B
Fixed fee, or
Basis of Charge £
Percentage,
%
complete C or D
C
% of approximate transfer / switch / mortgage value
£
D
% of gross investment *
£
E
Fee for additional work, see section 4. £
F
VAT
£
Total Fee
£ 3.0%
4.0%
4.5%
If you invest £50,000, our fee will be
EXAMPLE CASH AMOUNT
£ 1,500
£ 2,000
£ 2,250
If you invest £100,000, our fee will be
£ 3,000
£ 4,000
£ 4,500
If you invest £500,000, our fee will be
£15,000
£20,000
£22,500
*
Gross investment is the amount to be invested before fees are either paid directly by you or deducted by the provider upon receipt of the investment. For example, if you wanted to invest £100,000 and the agreed fee was 3%, the net amount invested would be £97,000, i.e. total investment amount minus our fee – £100,000 less £3,000.
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PERIODIC AND OTHER FEES SERVICE(S)
Classic Service – please see full details in the Client Proposition
☐
Premium Service – please see full details in the Client Proposition
☐
CHARGES (indicate per month, quarterly, half yearly or annually)
FEE BASIS
☐
A
☐
B
☐
C
% of transfer / switch / mortgage value
£
☐
D
% of gross investment *
£
☐
E
Fee for additional work, see section 4.
£
Fixed fee, or
£
Percentage#
%
complete C or D
VAT
£
Total Fee
£
# Percentage fees – the amount payable will increase as the fund grows.
*
Gross investment is the amount to be invested before fees are either paid directly by you or deducted by the provider upon receipt of the investment. For example, if you wanted to invest £100,000 and the agreed fee was 3%, the net amount invested would be £97,000, i.e. total investment amount minus our fee – £100,000 less £3,000. Please indicate how you will pay our fees by ticking the relevant box below: All fee payments must be made to Lighthouse Advisory Services Limited.
By cheque: If you choose this option, you must pay our fee within 30 days of our invoice. Online: sort code – 56-00-49, account number – 43581455, account name – Lighthouse Advisory Services Limited
Ref:
By deducting the amount from your investment: If you choose this option, the investment provider will deduct the agreed fee from your investment and forward it to us. You should be aware that this may not be the most tax-efficient option for you. Your adviser will be able to explain this in more detail. By Standing Order (fees for on-going services only): Please complete our Standing Order form.
• • •
All fees are based upon your circumstances as set out in the fact find and subsequent report and the type of advice you have instructed us to undertake and are subject to change if the scope of the work you require us to carry out changes. Fees quoted exclude VAT which is payable in certain circumstances. Your adviser will clarify whether VAT will be charged on the services you have requested. If we arrange protection business (life assurance, etc.) for you, we may receive commission from the insurance company. If the commission received is less than £750, we reserve the right to charge you a fee equal to the difference between the commission received and £750.
• If you cancel or amend any product which results in us having to refund payment to a product provider,
Mike Robertson Associates Limited reserves the right to charge you a reasonable fee to recompense us for the time taken
to arrange your plans.
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v14.1146 LAS Fee Agreement July ’14
6.
Termination This agreement may be terminated, in writing, by either party giving not less than 10 business days’ notice to the other party, but without prejudice to the completion of transactions already initiated. Any transactions effected before termination and a due proportion of any charges for services shall be settled to that date.
For and on behalf of Mike Robertson Associates Limited
4
Signed
Client 1
Signed
Client 2
v14.1146 LAS Fee Agreement July ’14