Transfer Adviser -
Costs & Current Rates
To submit cases to the Transfer Adviser service you need to be a registered user. Registration is subject to a monthly retainer fee of £15 plus VAT, payable by direct debit and is subject to an initial 12 month agreement. After the initial period, 3 months written notice is required to cancel the agreement.
We operate on a pure fee based structure for clients introduced to O&M.
The cost of a client receiving fully regulated advice is £2000 + £200 per each full £100k of the transfer value. There is also an additional implementation fee of £250 should a transfer proceed.
For example, the total costs for a £250 TV will be £2650 (vat exempt).
Paying for O&M's Advice
An initial deposit of £500 is required up front when the client is referred to our service. This fee covers payment for:
- initial research of the existing scheme benefits
- a telephone meeting between the client and an O&M adviser to discuss their fact-find, objectives, capacity for loss and attitude to risk amongst other things.
- an initial view on whether it is in the client's best interest to proceed to receiving full advice and a personalised fee agreement (Confirmed Adviser Charges document).
The remaining balance is payable either by adviser charge from the new plan upon transfer or by direct fee by the client. If the client elects to settle the remaining balance by direct fee, we will invoice them and request payment prior to a transfer taking place.
The client will advise O&M of their desired payment method on their personalised fee agreement, which we call our Confirmed Adviser Charges document, which is issued along with our initial view of the case.
Introducer Charges Client Directly for their Involvement
O&M will only charge the client for work done by O&M and will not be making any payment to the introducing adviser. We expect the introducing adviser will make some charge directly to the client for any work done on the case which may include:
- preparing and arranging the introduction to O&M
- assisting with the fact find completion
- reviewing O&M's advice in light of the client's wider finanical affairs
- arranging the on going investment of any monies transferred
- arranging the vesting of any monies transferred
O&M only accept referrals from registered introducing adviser firms.