Explore House
7 Berrymoor Court
Northumberland Business Park
Cramlington
Northumberland
NE23 7RZ
0191 2851555
Our Services
About Explore Wealth Management
Explore Wealth Management Ltd is a firm of Independent Financial Advisers based in Cramlington, Northumberland who, since
1978, have been providing financial planning solutions for our many and varied clients. We are directly authorised by the Financial
Conduct Authority.
As we are not part of or controlled by any larger organisation we can therefore offer totally unbiased recommendations from the
whole of the market place.
We are very proud of who we are and see ourselves as a truly visionary company which strives to provide an exceptionally high
level of service. Our team consists of two experienced Financial Planners who have achieved industry recognised financial planning
qualifications and are backed up by a dedicated and professional team of support staff.
Why are we Financial Advisers?
We recognise that life is not a dress rehearsal.
Our satisfaction comes from seeing how through sensible financial planning we improve the quality of our client’s lives and their
financial well being.
Who would want to give that up?
What do we stand for?
We firmly believe in a better financial advice world where people have total confidence in the Financial Adviser they are speaking
to, where they know the Adviser really cares about their needs and who can help them create and maintain a plan to help them
achieve their life’s financial goals.
We firmly believe we have created that here.
What do we do?
We see proper financial planning as the process of helping clients identify, achieve and maintain their desired lifestyle whatever
happens in their lives.
So what makes us different?
We see proper financial planning as the process to help clients identify, achieve and maintain their desired lifestyle without fear of
ever running out of money whatever happens in their lives. It’s about providing our clients with greater clarity over their financial
future, peace of mind, less worry and the time to enjoy their lives. We will tell you the truth about your money and you won’t get
any hard sell here-guaranteed. Our approach to Financial Planning is good for our clients but is also good for our business in that
we deal with some of the wealthiest individuals and most well known companies in the North East.
Are you protected?
Yes - We are authorised and regulated by the Financial Conduct Authority (FCA), the independent watchdog that regulates financial
services. Our FCA registration number is 121213. We are authorised to provide advice on pensions and retirement planning,
investments, mortgages and insurance. You can check this by visiting the FCA Register at www.fca.org.uk/register or contacting the
FCA on 0800 111 6768.
Should you be dissatisfied with the advice we have given you or with the service provided, you should firstly register a formal
complaint with us, by either writing to The Compliance Officer at Explore Wealth Management (address overleaf) or by ringing
0191 2851555 and speaking with the Compliance Officer.
As an individual, you are also protected by the Financial Ombudsman Service (FOS) and the Financial Services Compensation
Scheme (FSCS). So, if you are dissatisfied with the way we have dealt with any complaint you may have made, you can refer the
matter to the FOS. Furthermore, should you be entitled to compensation and we are unable to pay the compensation due you may
be entitled to a payment from the FSCS. Broadly speaking, most types of investment and mortgage business are covered up to a
maximum limit of £50,000 while insurance arranging and advising is covered for 90% of the claim without upper limit. The
compensation limits can be complicated to understand however so if you are concerned in any way, please ask us for more
information. Alternatively, you can contact the FSCS directly.
If you are not an individual, your rights of access to the FOS and FSCS can vary. Again, the rules are complicated and depend on
factors such as your turnover, the number of employees you have and the value of your business. If in doubt, you should seek
more information from us, the FOS or the FSCS.
Fully independent
Independent Advisory Service
We offer to provide you with a fully independent advice service, whereby we will advise and make recommendations for you after
we have assessed your needs based on a comprehensive and fair analysis of the market with access to the widest possible range of
research system, products and companies.
No advice
We will occasionally process execution only transactions, whereby you will not receive advice or a recommendation, but will
provide us with full details of the product and the company you require and we will simply process the transaction on your behalf.
We will not undertake such transactions if we believe it to be contrary to your best interests. This will affect your rights to complain
to the Financial Ombudsman Service (FOS).
Costs of our services
We offer a number of core service propositions to meet your needs as follows:
New Customers
All potential new customers will receive a complimentary thirty minute consultation during which we will explain how we work and
how we charge for our services. We will also assess your needs and then agree with you how to proceed.
Transaction Only
We can offer a standalone transaction only service which is typically for insurance based products (but not exclusively for) or
perhaps where there is no requirement for us to see you regularly.
How much do our services cost?
Independent Advisory
Service
Our fee for setting up insurance based products will be equal to any commission we
receive from the product provider subject to a minimum charge as detailed below. The
amount of commission we receive will be fully disclosed to you before you decide
whether or not to proceed.
Our minimum fee for advising on setting up a regular premium pension, investment or
life insurance based product is £1,000. The commission we will receive in relation to a life
assurance plan may offset this, with the balance being payable directly by you by way of
a fee. Our fee for advising on arranging a lump sum investment into a pension plan or
investment plan is 3% of the lump sum, subject to a minimum charge of £1,000.
Our fee for advising on setting up a pension annuity or similar is 3% of the lump sum,
subject to a minimum charge of £1,000.
For example we would make a charge of £3,000 if we were to invest or advise on a
pension fund of £100,000 on your behalf.
When the advice involves the transfer of a pension plan due to the complex nature of the
work involved in this aspect of financial planning the minimum fee is £2,000 or 3% of the
fund value, whichever is greater.
Financial Review Service
Our fee equates to a percentage of the value of the funds under management at the time
the charge is made. The percentage charged is typically 1% of the value of the funds we
are asked to manage for you. The charge is quoted as an annual percentage but is
charged monthly and deducted from the product provider or paid for separately by you
via a standing order.
For example we would make a charge of £1,000 if we were to provide a review service on
assets of £100,000. The ongoing service charge is usually paid monthly with the first
payment being made to Explore Wealth Management Ltd 1 month after the initial
investment date. Note, the value of the fee will increase as the value of your investment
increases.
We have a lower charge ongoing fee structure for those clients who require a lesser level
of ongoing service. The percentage charged is typically 0.5% of the value of the funds we
are asked to manage for you. The charge is quoted as an annual percentage but is
charged monthly and deducted from the product provider or paid for separately by you
via a standing order. For example we would make a charge of £500 if we were to provide
a review service on assets of £100,000.
If monthly monitoring of your funds is required an additional fee of 0.18% per annum
again payable monthly is incurred.
Fee agreement
Before we proceed with any service that will require you to pay us a fee we will detail the fee due as accurately as we can before
proceeding with any service.
We will use a fee agreement for this purpose and we will ask you to sign a copy before we proceed further. This is so that we can
make a clear and transparent disclosure of fees due in advance of any fee becoming due for payment. As mentioned earlier we
firmly believe that financial advice is not about persuading you to buy a financial product, and should be about giving you sound
financial advice. To this end you become liable for our initial advice fee whether or not you accept our recommendation.
We offer a refund policy, where by if you feel that the advice we have given has not been of benefit then the fee payable can be
waived.
You can cancel any monthly fee payments to us at any time by putting this request in writing or email to ourselves.
VAT
Our fees may be subject to VAT at the rate prevailing at the time the fees are charged. We will explain the treatment of any fees
incurred for VAT purposes at the time of the agreement.
Ongoing review services
For most customers if we are to help you to achieve your financial goals then ongoing financial reviews are a necessity. Our
experience tells us that different customers have differing ongoing service requirements and with this
In mind we offer nine ongoing service options for you to consider. Your Adviser will help you choose one that best suits your
requirements – please see separate document.
‘Ad Hoc’ Services
Customers can request ‘ad hoc’ services at any time, details of which are shown on a separate leaflet and will be agreed with you in
writing before we commence any work on your behalf.
How much do any additional financial planning services cost?
Detailed lifestyle and lifetime
cash flow report
Financial review, including the
portfolio design service (new
pensions & investments)
The tax mitigation and trust
service
The pension consolidation service
The pension maturity service
The mortgage service
Life Insurance Cover
The bereavement service
Advising on monthly savings and
pension plans
This can involve creating a ‘What If’
Cashflow projection, taking into account
scenarios such as retirement, business
sale, family changes, property change,
investment performance and inflation.
Establishing your views on financial risk,
then after establishing your lifestyle
needs, using our scientific research
process, construct a tailor made portfolio
of investments to meet your needs.
Ensuring that the most beneficial tax and
trust arrangements are organised, to
minimise tax expense, and to protect,
preserve and correctly distribute your
wealth.
Where appropriate, consolidating the
various pension policies and funds
that you have gathered in various
employments.
Selecting the best method of creating taxefficient income from the wide range
of options.
Access to domestic, buy to Let and
commercial mortgage advice
Advice on Equity Release strategies.
Whether you are looking to protect your
family, protect your business or cover a
mortgage we will guide you in selecting
the correct amount to be covered and
also the most suitable policy.
Following the loss of a loved one we help
with the completion of the necessary
forms, assist with claims on policies and
review your financial requirements.
We help you decide your savings budget,
provide you with a forecast as to your
future values and/or income in retirement
and help you decide where your savings
should be invested.
TYPICAL FEES
Typically £2,000
3% of amount Invested
(£1,000 min)
Typically £5,000
3% of amount invested
(£2,000 min)
3% of amount invested
(£1,000 min)
From £500
£1,000 min
(usually by commission payment)
From £95
(Typically £250)
Typically £1,000
Explore House
7 Berrymoor Court
Northumberland Business Park
Cramlington
Northumberland
NE23 7RZ
Tel. 0191 2851555