We understand how important cost is when you are choosing a financial planner to work with. That is why we have chosen to be in the minority of firms that disclose their fees online. The way we charge is unique in Hong Kong. As you may have noticed, very few firms work on a fee basis; in fact, most of them still work on a commission basis. We would never want to leave you guessing, which is why we have made the decision to tell you exactly what we charge at every stage.
We hope to work with you throughout your lifetime and aim to deliver you significant value, so we need to be transparent and honest from the outset.
This way, you’ll maximise the value of having a dedicated wealth manager working with you, wherever you are.
The information below will give you as much detail as you need before your Initial Meeting. However, for accurate figures, we advise speaking to us directly. We will never undertake any fee-generating work without first agreeing it with you.
Stage 1. Initial Meeting
After getting in touch, we will hold your Initial Meeting with you to understand a little bit more about your circumstances and the issues that have brought you to us. We want to be satisfied that we can assist you and, importantly, deliver you significant value, before we move on to explore more thoroughly the option of working together.
Stage 2. Discovery Meeting
Following on from your Initial Meeting, your Discovery Meeting involves a more comprehensive exploration of your unique set of circumstances, objectives and goals. As we’re willing to invest our time in getting to know you, your situation and what you want to achieve with your finances, we always undertake this meeting at our expense.
Towards the end of this meeting, we aim to have closely defined the scope of the advice you require, broadly laid out the process and timescales involved, and outlined the likely costs. A key objective of this meeting is to help you assess whether our fees will deliver significant value.
Stage 3. Financial Strategy
Once we’ve understood your goals, and you have confirmed that you wish to formally engage our services, we will ask you to complete our client agreement and start the process of constructing your bespoke Financial Strategy to help you achieve your goals. The process here includes:
- Further consultation following the Discovery Meeting to develop an overall understanding of your objectives and requirements. This often involves helping you to define, quantify and prioritise your goals.
- The use of interactive cashflow forecasting to give you a visual representation of what your financial future may look like, including comparisons with different “what if?” scenarios. Read about the benefits here.
- Researching any existing provisions you have and a critical analysis of the relevant options available.
- Recommendations for tax-efficient planning concerning your savings and investments.
- Advice on creating an investment portfolio that best suits your financial goals and objectives.
- A bespoke strategy with actionable recommendations to help take you closer to meeting your goals and objectives.
- A further consultation to walk you through our recommendations in the Financial Strategy report, highlighting the key advantages and the relevant risks.
We charge a minimum fixed fee of £3,500 for this service and for most clients we work with, we do not expect to exceed this fee.
This is dependent on complexity, however. If we identify that your circumstances are more complex and the fees exceed the usual cost shown here, we will flag this to you. To better understand what drives our fees, read our article, which highlights the four important factors that could affect the fees we charge you.
Stage 4. Implementation
If you wish to proceed with implementing our recommendations, you have the option to undertake this yourself or hand over the responsibility to our team. In most cases, our clients prefer that we take professional responsibility for ensuring the accurate implementation of our recommendations. This fee covers:
- Completing all paperwork and applications
- Liaising with product providers and investment platforms
- Placing investment instructions for any new investments we recommend.
For this service, we typically charge a fixed fee of around £2,000. However, this is dependent on the complexity of the recommendations made at the Financial Strategy stage. We will disclose the exact amount in your Financial Strategy report. Read our article here to understand the factors that could affect the fees we charge.
Stage 5. Ongoing advisory service
To manage your long-term financial future, we strongly recommend reviewing your strategy at least annually, although it is often more frequent. This review will involve detailed discussions about any recent or upcoming changes that could affect your plans. If your future plans involve moving to the UK, we will work with you to make this transition smooth while being as tax-efficient as possible.
When you move into our Ongoing Advisory Service, we provide a wide range of services, including:
- An Annual Progress Meeting, which we schedule in advance
- Regular contact with your financial adviser
- Monitoring progress towards your goals and a review of your cashflow forecasting
- Reviewing your recommended strategy
- Ongoing investment advice and / or discretionary investment management
- Pre-residency UK tax planning
- Yearly tax mitigation
- Pension planning
- Income management
- Estate planning
- Working with any of your existing advisers
- Introducing you to other professionals, if required.
For this service, we charge our Ongoing Advisory Service fee of 0.95% of assets under management for the first £1 million, subject to a minimum of £3,750. This service is charged on a tiered basis as follows:
|Assets under management||Our charge|
|Less than £1 million||0.95%|
|£1 million to £2 million||0.85%|
|£2 million to £5 million||0.75%|
|More than £5 million||0.65%|