Whats involved with pension advice?

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What does an independent financial advisor do? Savings, Investment and Pensions

Step 1 – You contact me, and we have a quick chat about what’s led you to call/email me.

Step 2 – If it sounds like something I could help with, we’ll set up a video call to explore in greater detail. This takes between an hour and an hour and a half depending on the questions you have. This gives us a chance to get to know each other and to discuss what options may be available. We can then discuss the approximate level of charges that might apply.

Step 3 – I’ll invite you to join my online portal where you can provide the information I need to advise you. These all help me make sure that the advice is right for you.

Here’s what these documents do:

Client agreement – This sets out the services I offer and their generic charging structures.
Data protection policy –To give you the best advice, I need to know you and this document sets out how I handle your data.
Fact find – this is a snapshot of your finances and it gives you options to add comments about what you’re looking to achieve. What’s important to you and any context. The more information you provide me with the better.
Letters of authority – You’ll likely have some products already in place, such as a pension, ISA or mortgage. A letter of authority allows me to work with your providers to help me analyse what value they offer. These are the only documents I require you to print out and photo/scan in return.
Attitude to risk questionnaire – This is a multiple-choice questionnaire to see how you feel about investment risk. It’s part of a wider process to decide the level of investment risk that is right for your situation.
Sustainability questionnaire – This questionnaire seeks your views on ethical and sustainable matters. It gives you a chance to rank what is most important to you.

Step 4 – I’ll then write to any providers you’ve given a letter of authority for and get details on your plans. This can be the longest stage of the process as some providers are more helpful than others! I will keep you updated on the process. We may find that a provider has an old address for you and so we can work together to get that updated.

Step 5 – Once I have the information from your providers and your financial position, I can form a plan. This may mean what we’ve talked about changes and so I’ll talk you through those and then give a firmer sign on costs.

At this point you can choose whether to proceed or not.

Step 6 – Once agreed, I will then send you a recommendation report. This will include instructions on how to proceed. This gives you a chance to read it in your own time and then we can talk through and answer any questions you have.

Step 7 – On accepting the recommendation, I’ll put the plan into place, keeping you updated.

Any ongoing service starts, which is an annual catch up/review meeting. If you are using our in-house model portfolio service then this will also include quarterly fund emails.

Why Rootes Wealth Management?