The Importance Of Having A Financial Advisor

Tristan Burd and Rachel Denham from Sandringham Financial Partners discuss the importance of having a financial advisor...

Independent Financial Advisers, Tristan Burd and Rachel Denham, have joined Sandringham Financial Partners and have established an office at Lingfield House in Darlington.

Sandringham Financial Partners are a National Firm with an excellent reputation for high compliance and ethical standards as well as for achieving high levels of client satisfaction, having been chosen as Vouched For’s top rated large firm of 2020.

Having previously worked together for a number of years, Tristan and Rachel have come together to provide high quality financial advice at a fair flat fee.

We believe that financial advice should be about answering the big questions for clients for example,

Can I afford to retire?

What will our lifestyle be like if I slow down from work?

What can I expect by way of income from my pensions when I come to retire?

Am I financially on track?

Understanding your goals and desired lifestyle is our starting point with all our clients. We take the time to really understand what is important to you and what you are looking for. Our job is to then work with the numbers to help you make this a reality.

Cashflow Planning allows us to create visual charts showing income, expenditure and the impact on savings and investments year by year throughout your retirement. We can then manipulate these scenarios to take account of the impact of a fall in stock markets or perhaps expenditure being higher than anticipated.

This allows us to identify areas where some extra planning might be necessary and to quantify for clients what the impact of certain decisions may be. We refer to this plan annually at review point, updating it as required. Clients hold a hard copy to allow them to refer to the plan at any time. This gives clients confidence to make decisions in respect of life goals, knowing they remain financially on track.

In the financial advice profession it is common to charge based on a percentage of the value of the assets advised upon. For example, an initial fee of 3% and an ongoing cost of 1% p.a. This would mean that for a client with a personal pension of £350,000 the charge could be in the region of £10,500 and an ongoing fee of £3,500 p.a.

We believe that we can do this better. For one, it is hard to argue that it takes twice as much work to manage £700,000 as opposed to £350,000 and at the extremes it means that clients with larger amounts under management pay significantly more.

Instead our charges are worked out based upon the time it takes us to complete the work. Depending on the complexity of the case our initial costs are likely to be in the region of £2,000 to £5,000 and our ongoing review fee is a flat £1,975 p.a. per client with this being discounted to £1,000 for the second client in a couple (i.e. a couple both whom hold plans would pay a total of £2,975 p.a.)

A relationship with a financial adviser should be based on trust and should be long-term. The impact of fees over the course of that relationship can be substantial and make a significant difference to your wealth over time. Not only do our fees cover our ongoing advice and management of your investments they also include an annually updated cashflow plan.

If you are looking for that peace of mind or want to explore the best ways of reaching your goals please do get in touch with us on 01325 808075 or at [email protected] for a no cost initial meeting. Alternatively come visit us at Sandringham Financial Partners, Suite 8, YARN, Lingfield House, Lingfield Point, Darlington, DL1 1RW


Sandringham Financial Partners Ltd (‘Sandringham’) is authorised and regulated by the Financial Conduct Authority. FCA Number: 581304. Registered Office: 5th Floor, 30 Market Street, Huddersfield, West Yorkshire, HD1 2HG. Registered in England and Wales No: 08022795. VAT Registered: 337 981 265.

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