Fees
Financial planning: how we charge
It’s important that you feel fully informed about our fees, with a clear indication of what you can expect, when to expect it and what you’ll get in return. Below we have illustrated the financial planning process, and the charges associated at each stage.
01
First meeting to discuss your needs & agree our services/fees
No charge (at our cost)
02
Fact finding meeting to understand your full financial situation & risk profile
No charge (at our cost)
03
Second meeting - Recommendation report & follow up discussion
Invoice raised. Up to 3% of the funds invested
04
Implementation - Setting up your new investment
Fee applied at the issue of recommendation report
05
On-going monitoring of your investments
Up to 0.9% of investment value per annum, minimum fees depending on service selected
Ongoing service levels
Our fees for ongoing services operate on tiered structure, designed to suit differing requirements and levels of complexity.
MGT Transact
Our basic service level is suitable for those who don’t wish to have any continued contact with us but retain the option of contacting us at their request.
MGT Invest
This is our ‘light touch’ service which includes online or telephone meetings with your adviser once a year to review and update your financial plan in addition to an ongoing assessment of the portfolio we manage on your behalf. This will include an assessment of your annual ISA allowance.
MGT Invest Plus
If you require more frequent contact with your adviser, then this service includes an annual review meeting in addition to six monthly interim meetings via Zoom or face-to-face. Each year we will reassess the suitability of the portfolio that we manage on your behalf. We will liaise closely with your other trusted advisers such as accountants and solicitors where required.
MGT Wealth (DFM Only)*
If you have more complex investment needs and you need a bespoke solution, then our MGT Wealth service may be appropriate. This service normally involves the use of a Discretionary Portfolio Management provider. It includes annual face to face meetings with your adviser to review and update your financial plan, plus annual valuations and tax packs for relevant plans from each provider where available.
Service Level Options:
This is a tiered charging structure (not a flat rate), so assets falling within each band are charged the appropriate rate in a similar way to your income tax
| MGT Transact | MGT Invest | MGT Invest Plus | MGT Wealth (DFM Only) |
|---|---|---|---|
Annual chargesNo charge |
Annual charges£100,000 – £250000 = 0.7% |
Annual charges£0.00 – £100,000 = 0.90% |
Annual charges£0.00 – £100,000 = 0.90% Capped at 0.5% |
Example of Annual chargesNo charge |
Example of Annual chargesFor a fund of £150,000 you would be charged a fee of £1,050 per year 0.7% of £150,000 = £1,050 |
Example of Annual chargesFor a fund of £250,000 you would be charged a fee of £2,025 per year 0.9% of the first £100,000 = £900 0.75% of the following £150,000 = £1,125 |
Example of Annual chargesFor a fund of £400,000 you would be charged a fee of £2,000 per year. |
Minimum Annual chargeN/a |
Minimum Annual charge£1,000 per year |
Minimum Annual charge£2,000 per year |
Minimum Annual chargeN.A. – Only available on portfolios where we recommend the use of a Bespoke Discretionary Service. |
- The amount of our annual ongoing charges may increase as the size of your fund grows.
- In some circumstances we may receive ongoing payments (commission) from product providers relating to existing investments you hold.
- Such payments may be taken into account when determining the charges for ongoing services. We will discuss and agree this with you where relevant.
Full transparency
For any aspect of our financial planning service all actual charges and fees will be fully disclosed to you. We will not charge you until we have discussed your payment options and agreed with you how we are to be paid. We will also let you know if there are any other costs that might arise in connection with the services we provide to you.
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