Details of Charges
No-one gives financial advice for free. When a product is taken out, the adviser– whether it is an IFA, your bank, or through the internet – receives commission from the insurance company (the ‘provider’). This commission is paid for by you, through product charges.
With a relatively simple transaction, this commission can be disproportionate to the amount of time the adviser has spent providing you with the advice and setting up the policy.
At Ovation, we’re a bit different. We charge our time on an hourly basis, with different rates depending on the type of work being undertaken. In this way, we are accountable for the time we spend working on your behalf.
We keep a record of the time we spend for each client. Any work undertaken is therefore added to this ‘fee account’. At the conclusion of an advice process, we issue an invoice for the accrued fee. Any initial commissions payable by the provider are then ploughed back in to reduce the product charges.
Alternatively, if a client so wishes, we can accept some or all of the commission payable. However, we only take sufficient commission to cover our fee. This commission is added to the fee account, and used to offset the fee, and a statement is issued to the client.
In this way, we can be totally transparent in how we deal with our clients, and, in return, our clients can trust us and know that we are working in their best interests.
- Please click here for our schedule of fees
- Please click here for our customer agreement
- Please click here for a partially completed standing order to pay our retainer fee
- Please click here for a list of acceptable documents for proof of identification
- Please click here for a letter of authority
| t | 0117 942 4333 |
| e | Email Ovation |