2 . They come up with a tailored plan
It ’ s only once they ’ ve got to know your client that a Skipton adviser will look at coming up with some solutions . A tailored plan that maps out their financial future in a way that they could understand , value and trust .
How much does a financial adviser cost ?
Here at Skipton it costs nothing for your client to find out if they could benefit from financial advice through a free initial consultation . They will need a lump sum of £ 20,000 or £ 500 a month to invest . This friendly chat will help clients to find out if financial advice might be right for them .
As part of your client ’ s plan , we might recommend investing to potentially strengthen their finances . At this point we ’ ll talk about the level of risk they ’ re willing to take in return for the potential of higher growth in the long run . We ’ ll also look at how long they ’ re prepared to invest for – which should typically be five years or more .
3 . They help to implement those plans
Next we will invite your client back to explain our recommendations in full . We ’ ll explain these recommendations in a clear and simple way .
Good advice doesn ’ t end there either . A financial adviser also understands life has its ups and downs . A divorce , a promotion , loss of income or an inheritance could all impact on a financial situation .
Sitting down with an adviser from time-to-time to talk about priorities could help your client ’ s plan stay structured in the right way to reach their goals .
Do your clients need a financial adviser ?
Creating a financial roadmap for the future your client wants involves a close look at their finances .
And as we ’ ve established , there ’ s no one size fits all with financial advice . That means if they decide to act on the advice , there ’ s not one exact price – once again it comes down to their specific needs . If a client asks us to implement their plan , then we charge the client a percentage based initial charge .
Paul Fenn , Skipton ’ s Head of Business Development , explains , “ Whilst we can ’ t give them a definite cost until we find out more about their needs , we can promise that any charges will be explained beforehand . There ’ s also no upfront fee for your client to meet with an adviser or to hear our advice either .
“ I am delighted that by working with the Society of Will Writers we can help make financial advice accessible to more people when they need it . Especially at such an important time as writing their Will .”
So , now you know a little about Skipton , let ’ s work alongside each other to help your clients even further . To find out more contact James Webb , Business Development Manager on 07800770353 .
By investing with our advice , our aim is to grow your client ’ s money by a greater extent than is available through cash savings accounts to help them achieve their goals . Although funds are not like bank and building society savings accounts . It does mean placing your client ’ s capital at risk , as its value can fall as well as rise and they may get back less than they originally invest .
Yes , your clients could go it alone if they wish . But as they ’ ve come to you for help with legacy and will writing planning , they can already see the value of working with a trusted expert like yourself .
Skipton Building Society is a member of the Building Societies Association . Authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority , under registration number 153706 , for accepting deposits , advising on and arranging mortgages and providing Restricted financial advice . Principal Office , The Bailey , Skipton , North Yorkshire BD23 1DN .
When it comes to your financial advice needs , we ’ re here to help your clients in the same way as you ’ re supporting them with their estate planning . They might not realise just how much financial advice could help them , which is where you could offer even more value by recommending our services .
For example , one in three of us don ’ t know how much we ’ ll need in retirement 1 – it ’ s these sorts of thing we could help your clients with . As well as having the knowledge on the right kinds of products for their particular needs .
1 https :// www . unbiased . co . uk / news / financial-adviser / one-in-threebrits-don-t-know-how-much-pension-to-save
5