- Clear, transparent, truly independent – RDR compliant service
- Full financial and product specific advice
- Available to private and corporate clients
Fair Investment Company's new advisory service is officially launched.
The service, which offers clear, transparent, truly independent financial advice, is available to both new and existing Fair Investment Company clients. As well as offering general financial advice, the service also offers product specific advice for more complicated and/or risky investment products.
"Some product providers will not let people apply for certain products without getting advice due to their complicated nature, so we provide advice on these as a matter of course.
"But there are certain other products that are also complicated and maybe have higher levels of risk and we feel it is very important that our clients understand them fully," said Nick Scarrett, chartered financial planner and head of investments and pensions at Fair Investment Company.
"That is why we offer a product specific advice service as well as full financial advice service, and only allow certain products to be applied for with advice. In these cases, the charging structure of the product takes the cost of the advice into account, so the client will not be paying any extra."
The Fair Investment Advisory Service is available for both private and corporate clients; helping private clients understand the complexities of investments, pensions, protection and mortgage products and helping businesses find the best employee benefit packages, pension plans and advice on how to best protect their business from the death or illness of key employees and directors.
Fair Investment Company's advisers are able to offer products and funds from the whole of the market, and all clients will receive a free initial assessment with no obligations and any terms of service are agreed before any advice is given, as Nick explains.
"Customers can choose to pay either by fee or commission. When a customer pays by fee, if we receive commission from the product provider when they buy a product, we will pass on the full value of that commission in order to reduce our fee.
"Customers can also choose to pay by commission in which case they do not pay us a fee up front. However, we will always tell them exactly how much the commission will be before they complete any investment, and as the commission for investments and pensions is set at the outset, there is no product or fund bias."
The service has also been set up in order to comply with the FSA’s rules as set out following the Retail Distribution Review (RDR), which will introduce new minimum standards of qualifications and professionalism for advisers, provide greater clarity over charges for adviser services and product prices by ending the commission structure and instead charging clients an agreed amount for advice, taken as a fee upfront or deducted from the policy
"The RDR rules come into play in 2013," says Nick, "and, while many advisers are still not transparent about the way they are paid, our RDR compliant service means that our customers know they are getting truly independent advice."
Find out more about Fair Investment Company’s new advisory service.