We offer both initial and ongoing services. Any products we have arranged for you will only be kept under review as part of an agreed ongoing service for which you agree to pay. Our ongoing services are optional, however where you agree to purchase an ongoing service, unless otherwise agreed, the ongoing service will be provided as a follow up to the initial service.
Any advice or recommendation that we offer to you, will only be given after we have assessed your needs and considered your financial objectives and attitude to any risks that may be involved. We will also take into account any restrictions that you wish to place on the type of products you would be willing to consider.
In some circumstances we may provide you with a non-advised service where you will not receive advice or a recommendation from us. Where this is the case we will provide details of our non-advised services and charges separately.
Our agreement shall commence on the date of signature and shall remain in force until terminated in accordance with the cancellation section.
PHASE 1: Consultation
Your Opal Financial Management adviser will provide information about how we would like to work with you, the services we can provide and the costs of those services. The adviser will discuss your financial objectives and goals in order to understand your financial planning priorities and timelines for achieving them.
We will assess your attitude to investment risk in order to help us to understand how much risk you are willing to take with your capital. To achieve this we will ask you to complete our psychometric questionnaire, consisting of a variety of questions in order to establish your personal risk profile.
Throughout the fact-finding process we will gather personal and financial information from you, so we can formulate our advice and recommendations. This will include details about your current financial arrangements, policies and any commitments. We cannot guarantee that we can meet all your financial objectives and goals but we can work with you to prioritise these and help achieve them.
As part of the Financial Advice Process, your adviser will agree what services you would like and to how you pay for them. We will not make a charge for any work without your prior agreement.
Before we proceed with any work that may incur a charge, please ensure that you are clear about the services you would like us to provide and how you will pay for them. You can agree that we should not exceed a specified budget limit without first consulting with you and receiving your written commitment to proceed further.
We will not proceed to the Advice stage until we fully understand your personal and financial situation, have established your objectives and agreed the remuneration basis.
Unless otherwise stated, the Consultation stage will be carried out at our cost and free of charge.
PHASE 2: Advice
Your adviser will be able to provide financial advice and, where appropriate, begin the process of selecting the investments, product wrappers and product providers most suitable to your circumstances once the Consultation stage has been completed.
As part of the Advice process, your adviser will assess your objectives, review any existing plans you have in place, conduct research and, based on your attitude to risk, devise an investment strategy in order to recommend the most suitable solution tailored to you. This is a time consuming process but it is a vital and important step in considering the options available to meet your financial objectives.
There are many products and investment styles available and as Independent Financial Advisers we will base our research on providers and products across the whole of the market.
You will be given the opportunity to prioritise your own financial planning objectives and, if we agree to review a specific area of planning, we will only provide focused advice tailored to your needs at that point. If we provide focused advice we will not consider any other areas of financial planning and will only advise you on the areas you have asked us to address. Consequently, our advice may have been different if we had conducted a full review or considered other areas of financial planning at the same time.
There may be a charge incurred for the work carried out at this stage. These charges are available on request.
PHASE 3: Implementation
Once the recommendations have been agreed with you, based on the areas of advice identified that meet your needs and objectives, the Implementation stage can be put in place.
Your Adviser will assist you in the completion of the application(s) and any additional documentation required for submission to the product provider. It is very important you check all the information you have provided is correct prior to signing any documents. We will then monitor the processing of your application(s) through to the issuing of the policy. We will then ensure you receive all relevant policy documentation.
Unless otherwise stated, the Implementation stage will be carried out at our cost and free of charge.
PHASE 4: Ongoing Service
Our aim is to build long-lasting trusted business relationships with all of our clients. This involves recommendations being clearly explained with an ongoing service process put in place to review plans and ensure that they remain relevant to your ongoing needs.
This is an evolving process and an essential part of continually reviewing your arrangements to ensure they continue to match the goals and objectives at any given period throughout a clients’ lifetime. This is however, an optional service and we will not automatically provide this. You will need to confirm whether you want this service, which service level you would like to adopt and complete our client consent form that is available on request.
If you opt for this service we will agree an appropriate service schedule. A range of options are available which can be discussed with your adviser and can be chosen to meet your specific needs.
In accordance with this service, we will reassess your financial situation at that time and attitude to risk; appraise existing investments and services; and reconsider your financial objectives and goals. If at this point, the financial plans you have in place no longer match your objectives, your adviser will recommence the Financial Advice Process and provide new recommendations. If further charges by us are to apply, these will be confirmed before any further work is undertaken.
In addition, you may contact your adviser between meetings should you have any queries. You will also be offered the facility to activate your own personal secure, on-line investment portal where you can obtain up to date valuations of the plans that you hold under review with us.