Fees
Our fees for our services are set out below. If you cannot see a service that covers your requirements then please speak to us in the first instance and we will give you an idea of cost within 24 hours. Please read our Terms of Business.
Services and Charges
The attached links are services we can offer to Regulated Financial Adviser firms. It is not comprehensive - if there is a project you would like us to look at please ask.
We are not Compliance Consultants, we are Business Consultants, our services complement those of Compliance Consultants and we will never compete with them as they are a valuable source of our introductions. IFA Consulting LLP is managed by Ralph Pettengell, a Council Member of The Association of Taxation Technicians and one of the most professionally qualified in the Financial Services industry having attained FPFS, ATT, ACSI and ACII (Pensions route) all by examination.
Ralph has 30 years experience in the Financial Services industry of creating and growing a Financial Services business, buying and selling IFA practices, and can bring to your firm this hands-on experience.
The services are all about adding value to your business.
From £750 + VAT per day or £150 + VAT per hour
RDR Hands On Implementation Service (including Adviser Charging/Service Proposition)
Why use this service? To deliver a professional image and add quality, clarity and substance behind your fee-paying proposition.
- Review of business model to determine the future proposition and RDR progress
- Calculation of fee menu and draft the Keyfacts document
- Client segmentation guidance
- Agree the service proposition to fit with the fee menu (Keyfacts)
- Platform review/guidance
- Required amendments to the data base to record fees accurately
- Annual review proposition
- Review of Adviser Remuneration Contract
- Assess Advisers Gap Fill progress and requirements, and set a plan of action
- Moving to fee based advice progress review
- VAT review, advice and training
- Implementation of new Service proposition
- Annual Review proposition - systems and controls
- Staff Training
From £750 + VAT per day or £150 + VAT per hour
VAT Services
Why use this service? Probably one of the greatest new risks facing IFA firms,
so get ready to get it right.
- Review of current business model to determine VAT liability
- Review of current service fee proposition to determine VAT liability
- VAT advice/Best Practice
- Database amendments to record advice costs
- Administrative staff training
- Adviser training
- Understanding advice and intermediation
- Drawing conclusions from your specific Whole of Market proposition
and implementation of solution
Price depends on your business model. £150 + VAT per hour
Getting RDR Ready
Why use this service? Allows you to continue to spend time running your business and we will review your progress and make recommendations regarding your outstanding tasks.
- Progress Review
- Designing a path to become RDR ready
- Implementing the path to RDR Compliance
- Client Segmentation review/guidance
- Service/fee proposition review/guidance
- Commission to fees review/guidance
- Platform review/guidance
- VAT review/guidance
- Training on all aspects
- Panel Review and audit
From £400 + VAT
Adviser Remuneration Post RDR
Why use this service? The whole culture of the industry is changing. Make sure you bring your remuneration package into the new world.
- Review of current incentive scheme/bonus structure
- Review of conflicts of interest for in-house proposition
- Develop revised incentive bonus scheme
- Implement change process
Risk Management
Why use this service? Protect your business from future potential claims and allow yourself to advise on whole of market, without restrictions.
''As we apply our intrusive and intensive supervisory approach we will be looking to see how firms have acted on this report. (FSA Assessing Suitability Final Guidance 2011)''
- Review of business to minimise risk
- Investment proposition review/guidance
- ETF Adviser Training
- UCIS Training
- Platform Review
- Remuneration strategy for advisers review/guidance
- Pension Drawdown
- Pension Transfers
- Investment Transfers
- Structured Products
- Traded Life policy
- RDR Behaviour Review
- Panel Review and Audit
Gap Fill Training
Trusts, Admin, Legal Aspects, Taxation gap-fill 15 - 17.
Understand the legal concepts and considerations relevant to financial advice:
- Use of Trusts
- The main types of Trusts and their uses
- The creation and administration of Trusts
From £500 + VAT
Investment Risk theory and principles gap-fill 36 - 40.
Understand the merits and limitations of the main investment theories:
- Modern portfolio theory
- Multi-factor model
- Efficient market hypothesis
- Capital asset pricing model
- Basics of behavioural finance - market and individual behaviour
- Portfolio theory, diversification and hedging, correlation between asset classes,
total return, and an awareness of beta and alpha
NEW FOR 2012
Asset classes gap-fill 24 - 29.
Analyse the characteristics, tax treatment, inherent risks and behaviours of investment products:
- The advantages and disadvantages of direct investment in securities and assets compared to indirect investment through collectives and other products
- Exchange Traded Funds (ETFs) and Exchange Traded Commodities (ETCs)
- Enterprise Investment Schemes
- Hedge funds; funds of hedge funds
- Structured products - income and capital growth structure and analysis
NEW FOR 2012
Investment Proposition (Assessing Suitability FSA March 2011 and additional FSA Guidance)
- Review of your current Investment Proposition
- Establishing attitude to risk/loss
- Investment selection process/review
- Benchmarking
- Investment selection implementation
- Audit against FSA published Guidance
- Bring your business into a competitive new world
- Report and recommendations for you to implement
From £1,500 + VAT
Increasing Profits
- Business Model review
- Cash flow/Management review
- Identifying weaknesses/inefficiencies/excess costs/working practices
- Implement change to maximise profit
From £1,750 + VAT.
Plus 25% of increased profits for 12 months
Buying Business
- Review of your business model to determine if you are ready to buy a business
- Identifying suitable business models to purchase
- Due Diligence and risk assessment
- Negotiating the right price
- Integration process of new business into existing business
From £5,000 + VAT
Growing an IFA Business
- Implementing foundation stones and framework/corporate culture to build a business
- Financial forecasting
- Cash management
- Back office systems
- Corporate image
- Staff Handbook
- Adviser Bonus Structure
- Adviser contracts, Restrictive Covenants, Grievance procedures
- Managing growth
- Capital raising
Price on application
Selling a Business
- Developing your Sales Pack
- Review of what you want to achieve
- Getting in shape to sell your business
- Maximising value
- Finding prospective purchasers
- Overseeing legal process
From £5,000 + VAT
Setting up an OEIC
- Planning meeting
- Plan of action/project plan
- ACD analysis and recommendation
- Investment Manager review
- Oversight of FSA Appraisal Process
- Launch
Fees start at £10,000 + VAT
Lead Generation
- Developing professional connections
- Managing/recording lead flow
- Obtaining Law Society Accreditation
- Review of existing client base
- Maximising returns from existing clients
Fees from £750 + VAT per day or £150 + VAT per hour
Project Work
- Bespoke projects
Fees from £750 per day + VAT or £150 + VAT per hour