On receiving an enquiry, Grayside will arrange an initial meeting. The purpose of this meeting is to find out whether we can help you in achieving or moving towards your financial goals. There is no charge for this first meeting and no obligation on either side.
During the initial free, no obligation meeting, Grayside will assess your requirements and you will be given clear information regarding the type of advice and level of service provided by the adviser and an approximation of the cost. An exact cost would be available shortly after the first meeting, following further research and analysis.
You will be given details of how we conduct our business, including a copy of our Client Agreement. This document confirms our Terms of Business, including confirmation that we are regulated by the Financial Conduct Authority (FCA), and the type of products the firm offers advice on (including investments and savings, pensions, long-term care planning, protection and mortgages). It also confirms our Range of Services to match your needs, and further details on Paying for our Services.
There will always be a cost for the advice you receive, as like any other business arrangement, you are benefiting from the company's expertise. Clients pay for advice in three main ways:
Since 31st December 2012, it has been a regulatory requirement that the cost of all investment and pension advice be based on a fee rather than commission. No fees are ever charged without your prior knowledge and agreement.
Commission is only payable to Grayside Financial Services for protection products, for example life assurance, health insurance and mortgage protection. We will always tell you about any commission we earn from providers and how the cost of the commission is factored into the premiums you pay for the product. These commissions vary with different products and providers but will be documented in the Key Facts Illustration (KFI) you receive from the adviser.
Fees & Commission
Depending upon the advice we are offering and the products we are putting in place, a combination of fees and commission may be appropriate. Whether we take our remuneration by way of commission or fees will be a matter of discussion and agreement; no costs will be incurred without prior notification in writing.
For general insurance advice, we will normally receive commission from insurers or product providers. On request, we will be pleased to provide information about any commission received by us in the handling of your insurances.
Any other fee or charges will be notified to you in advance. You will receive a quotation which will tell you the total price to be paid, showing any fees, taxes and charges separately from the premium, before your insurance arrangements are concluded.
For mortgage advice we will receive a procuration fee from the lender, and we will also normally charge a client fee payable on completion only. The client fee may be waived in some circumstances. This will be discussed and agreed with you at outset.
Your home may be repossessed if you do not keep up repayments on your mortgage.
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Grayside Ltd is authorised and regulated by the Financial Conduct Authority (http://www.fca.org.uk/register).
Financial Services Register No: 138990 Registered in England, No. 1366921 Registered Office: 1st Floor, 55 High Street, Epsom, Surrey, KT19 8DH
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