Key Facts Costs and Services

Last updated on 16/05/2017

Roberts Clark Independent Financial Solutions Limited.
Head Office: 1 Stret Constantine, Newquay, Cornwall, TR7 1GH.
Tel: 01637 838260 (Newquay), 01543 677444 (Burntwood) / 020 8144 7620 (London)

1. The Financial Conduct Authority (FCA)

The FCA is the independent watchdog that regulates financial services. This document is designed by the FCA to be given to consumers considering buying certain financial products.
You need to read this important document. It explains the service you are being offered and how you will pay for it.

2. Whose products do we offer?

Investment

Please refer to section 3 of this document

Insurance

We offer products from a range of insurers
We only offer products from a limited number of insurers.
We only offer products from a single insurer.

Home Finance Products – Equity Release Products

Equity release products are either lifetime mortgages or home reversion plans
We are not limited in the range of equity release products we will consider for you.

Home Finance Products – Mortgages
We are not limited in the range of mortgages we will consider for you.

3. Which service will we provide you with?

Investment

Independent advice - We will advise and make a recommendation for you after we have assessed your needs. Our recommendation will be based on a fair analysis of the market
Restricted advice - We will advise and make a recommendation for you after we have assessed your needs, but we only offer advice on limited types of products, or products from one company or a limited number of companies.
No advice - You will not receive advice or a recommendation from us. We may ask some questions to narrow down the selection of products that we will provide details on. You will then need to make your own choice about how to proceed

Insurance

We will advise and make a recommendation for you after we have assessed your needs
You will not receive advice or a recommendation from us. We may ask some questions to narrow down the selection of products that we will provide details on. You will then need to make your own choice about how to proceed

Home Finance Products - Equity Release Products

We will advise and make a recommendation for you on equity release products after we have assessed your needs
You will not receive advice or a recommendation from us. We may ask some questions to narrow down the selection of equity release products that we will provide details on. You will then need to make your own choice about how to proceed

Home Finance Products - Mortgages

We will advise and make a recommendation for you after we have assessed your needs
You will not receive advice or a recommendation from us. We may ask some questions to narrow down the selection of mortgage products that we will provide details on. You will then need to make your own choice about how to proceed

4. What will you have to pay us for our services?
Investment / Insurance / Home Finance (Equity Release and Mortgages)

We offer all initial discussions about your needs free of charge. We will fully describe our services and our fees, discuss your payment options with you and answer any questions you have. We will not charge you until we have agreed with you how we are to be paid.

If you are happy with our initial discussions and wish to proceed and use our services, we will provide you with a written quotation fully detailing our suggested works and the charges we will make.  Our charges for the work we agree are fixed and will not change unless we agree the change with you first.

Our quotation is generally broken down into specific tasks, as you may wish to proceed in stages, rather than all at once.  The choice about which task to proceed with is yours and the quotation has space for you to indicate this.

Insurance: You will receive an illustration which will tell you about any other fees relating to any particular insurance policy.

Mortgages and Equity Release Products: You will receive a key facts illustration when considering a particular mortgage or equity release product, which will tell you about any fees relating to it.

Your Payment Options
Our quotation is designed to meet the needs of all clients and gives you the option to have face to face or non face to face dealings with us.  It also gives you the option of paying up front for our services or paying on completion of the works we do for you.  It also gives you the option for our fees to be paid from any policy you take out.  There are cost savings where you choose to deal with us on a non face to face basis and where you choose to pay up front for our services.

Our quotation for the works and costs involved will be sent to you so that you can decide in private which options are best for you, without pressure.  All options and discounts are shown on the quotation.  You will need to sign your authority for us to start work for you.  We will not do any work unless you instruct us to do so.

Dealing with you in this way helps you to understand our proposals, confirm you are happy with how we will work for you and what we will be paid.  This helps you to make informed decisions and understand the costs involved.

Whether you buy a product or not, you will pay a fee for our advice and services.  Where you buy a product you can choose whether our fee will be paid from the product (the policy) or to pay it yourself personally.  Our fees are based on either hourly rates or fixed fees and you will be given a full breakdown in the quotation.

You can ask us for an estimate of how much we might charge you in total for particular work.  You can also ask us not to exceed a maximum amount without checking with you first.  Anything we agree about the works to be undertaken and our fees will always be confirmed in writing.

Payment for Ongoing Services
There will be an additional charge for any ongoing work, such as periodic or ongoing reviews we carry out on your behalf. We will confirm the rate, frequency and length of this ongoing service before beginning any ongoing service.

With effect January 2013 product providers are not permitted to pay commission to advisers where you have received advice resulting in a product being taken out. This only applies to pensions, investments and savings products.

For other products and for products you take out without receiving advice (including Execution Only), commission might still be available. If this is the case then you can decide whether our fees are settled from the commission available or pay them yourself personally, in order to reduce the initial or ongoing policy charges.

You should be aware of the possibility that other costs including taxes (for example VAT), related to transaction in connection with packaged products (e.g. investments, pensions and savings products) that are not paid via or imposed Roberts Clark Independent Financial Solutions Limited may arise.

Refund of Fees

If we charge you a fee and your defined benefit pension scheme transfer or mortgage or equity release does not go ahead, you will receive no refund.

5. Who regulates us?

Roberts Clark Independent Financial Solutions Limited of 1 Stret Constantine, Newquay, Cornwall, TR7 1GH is authorised and regulated by the Financial Conduct Authority.

Our Financial Services Register number is 192598.

Our permitted business is advising on, making arrangements in and arranging (bringing about) savings, investments, non-investment insurance contracts and pensions, including the specialist activities of pension transfers and pension opt outs. We are also permitted to advise on and arrange regulated mortgage and equity release contracts.

You can check this on the Financial Services Register by visiting the FCA’s website www.fca.org.uk/firms/systems-reporting/register or by contacting the FCA on 0800 111 6768.

6. What to do if you have a complaint

If you wish to register a complaint, please contact us:

  • In writing: Write to Roberts Clark Independent Financial Solutions Limited, 1 Stret Constantine, Newquay, Cornwall, TR7 1GH.
  • By phone: Telephone 01637 838260.

If you cannot settle your complaint with us, you may be entitled to refer it to the Financial Ombudsman service.

7. Are we covered by the Financial Services Compensation Scheme (FSCS)?

We are covered by the FSCS. You may be entitled to compensation from the scheme if we cannot meet our obligations. This depends on the type of business and the circumstances of the claim. 

Investment:
Most types of investment business are covered up to a maximum of £50,000.

Insurance:
Insurance advising and arranging is covered for 90% of the claim, without any upper limit. For compulsory classes of insurance, insurance advising and arranging is covered for 100% of the claim, without any upper limit.

Equity Release Products and Mortgages:
Equity release and mortgage advising and arranging is covered up to a maximum limit of £50,000. Further information about compensation scheme arrangements is available from the FSCS.

 

Terms Effective From 21/02/2017. Download this document as pdf:  RC_DisclosureDocument_V3210217

 


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