Who are we?
Beaumont Financial Planners Limited is a firm of independent financial advisers, based in Oswestry and Chester. We have been providing financial planning solutions for our clients for over 15 years and have a loyal and dedicated client bank. We’re independent, which means we work for our clients’ interests, not those of a bank or insurance company.
Our team consists of qualified financial planners backed up by a dedicated and professional team of support staff. To find out more about us and meet the team go to www.beaumont-financial.co.uk.
What do we do?
We provide advice and planning services for people who want to make the most of their finances.
Beaumont offer a comprehensive range of independent financial services to both individuals and businesses, from cash flow modelling, pensions, savings and investments to estate planning all with continuous on-going reviews.
Established in 2000, many of our clients have been with us for over 10 years which is reflected in our retention rate of 97%.
From our central Oswestry base, we cover the whole of Shropshire, Cheshire, North Wales and the Midlands looking after your financial needs. You can rest easy knowing your finances are in the safe hands of an advisor you trust
We can help you to choose the right investment to make your money work harder and help you plan for tomorrow, today. To provide peace of mind, we will advise you on the best ways to protect your family, your home and your lifestyle.
Are we fully independent?
Yes, importantly, we provide fully Independent Advice.
This means that we will advise and make a recommendation for you after we have assessed your needs, based on a comprehensive and fair analysis of the market. We have access to the widest possible range of products and companies.
Are we regulated?
Yes. We are authorised and regulated by the Financial Conduct Authority (FCA) and as such, you are likely to be protected by the Financial Ombudsman Service (FOS) and the Financial Services Compensation Scheme (FSCS).
The Financial Conduct Authority (FCA) is the independent watchdog that regulates the financial services industry. Beaumont Financial Planners Ltd of 21 Salop Road, Oswestry, SY11 2NR is authorised and regulated by the FCA. Our FCA Number is 772710. You can check this by going to the FCA Register at www.fca.org.uk/register or by contacting the FCA directly on 0800 111 6768.
We are authorised to provide advice on pensions and retirement planning, investments and portfolio planning and personal and business protection. Please note that some of the products or services that we arrange for you or give advice on, may not be regulated by the FCA, but if this is the case, we will tell you beforehand.
We aim to act fairly and impartially at all times and to communicate with you in a jargon-free, easy to understand manner. We aim to provide you with top quality advice and to treat you fairly in all matters. We work in your best interests at all times.
We aim to be the number one choice for independent financial advice across all financial services. Investing our client funds with integrity, honestly and professionalism to maximise long term returns in the most tax efficient manner while delivering exceptional client service every step of the way.
Our service propositions
All potential new customers will receive a free one-hour consultation during which we will explain how we work and how we charge for our services. We will also assess your needs at a high level and then agree with you how to proceed.
Transaction only service
We can offer a standalone transaction only service, which will typically be for insurance based products or perhaps where there is no requirement for us to see you regularly.
Ongoing financial reviews
For most customers, if we are to help you to achieve your financial goals, we believe that ongoing face-to-face advice is essential and offer annual reviews.
If you choose this option, we will arrange to see you once a year when we will review your personal circumstances, update your records, re-appraise your financial objectives and provide updates on how your plans and policies have performed. This could include all or some of the following depending on your needs and circumstances: the provision of policy valuations, a review and update of your personal circumstances, investment risk profile, asset allocation and tax position including inheritance, capital and income tax status. We will also make recommendations for any re-balancing or switching of funds or policies that may be relevant. If you have numerous pensions and investments, we will provide a consolidated portfolio valuation report.
Financial management service (FMS)
As part of our review services, for customers with pension and investment funds, our FMS offering provides a bespoke portfolio that meets your specific circumstances and requirements, and matches your tolerance for investment risk. When we meet with you we will then review your current needs and the performance of the portfolio, and if necessary re-balance your portfolio to ensure it remains in line with your tolerance for investment risk and your objectives. For example, if you have made good gains, you may want to protect some of those gains, or if you are nearing retirement, you may want to move funds into a lower risk environment. There is no additional charge for this service for customers who subscribe to annual reviews.
Financial Advice/On Demand
For some customers, perhaps with a relatively small investment, FMS may not be required. For such customers, we offer a solution whereby we select investment funds that are ‘managed’ by an investment company. This means that the manager will re-balance the fund over time so that it continues to meet its objective and remains invested in broadly the same spread of investment types (normally referred to as asset classes). While generally a cheaper option, managed funds don’t provide access to the wider range of funds available through FMS.
Correspondence only services
If you subscribe to this free service, we may write to you periodically to keep you informed of important developments in the marketplace. From time to time, we may offer you services or products that may be of interest, for example investing annually to make use of your ISA allowance. Rest assured however, we will not bombard you with meaningless promotions.
Customers can request ‘ad-hoc’ services at any time, such as additional meetings, telephone query handling, additional documentation, valuation reports, or simply to ask us to process a transaction on your behalf. Some ad hoc services such as initial set up of flexible drawdown, completing transfer analysis reports for transfer of final salary pension to personal pension will incur an extra fee as outlined below.
How much do our service propositions cost?
Financial Advice / On Demand
Defined Financial Management Service
Full Financial Management Service
|Minimum Portfolio Value||£25,000||£30,000||£100,000|
|Attitude to risk||✔||✔||✔|
|Review meetings||✔ (Triennial)||✔ (Annual)|
|Standard Initial charge||4%||3%||3%|
|Ongoing charge pa||0%||4%||1%|
*Rebalancing will take place annually in June, subject to us receiving confirmation of the fund switch request sent via email. If we do not receive confirmation funds will not be rebalanced.
**Ad-hoc fee will apply for additional meetings outside of the triennial review.
Discounts off initial charge
Discounts off initial charge as detailed above will be applied, the percentage charged varies depending on the fund value, as follows:
|Total value of all funds
(pensions & investments)
|Percentage discount of initial charge||Example (Initial charge)|
|£250,000 – £500,000||1% discount||Funds valued at £250,000: Initial charge of £5,000 (i.e. initial charge 2% (discounted by 1%))|
|£500,000 – £750,000||1.5% discount||Funds valued at £500,000: Initial charge of £7,500 (i.e. initial charge 1.5% (discounted by 1.5%))|
|£750,000 +||2% discount||Funds valued at £750,000: Initial charge of £7,500 (i.e. initial charge 1% (discounted by 2%))|
|Existing Clients||2% discount||Funds valued at £300,000: Initial charge of £3,000 (i.e. initial charge of 1% (discounted by 2%))|
Example of ongoing cost:
|Total value of all funds
(pensions & investments)
|£250,000||1%||Funds valued at £250,000: Ongoing monthly charge of £208.33 (£2,500 per annum)|
The majority of our work will be charged on the basis of the fee structure explained above. Under certain circumstances and depending on your requirements however, it may be appropriate to charge a fee commensurate with the time taken to complete the work.
We charge additional fees for ad-hoc services, an example of ad-hoc fees as follows:
- Ad-hoc fee – £500 e.g. initial set up of flexible drawdown, additional meetings outside triennial review.
- Completing transfer analysis reports for transfer of final salary pension to personal pension – £500.00 ad-hoc fee
- Establish new personal pension with regular contributions where no on-going service required – £500 ad-hoc fee
Any other ad-hoc fees will be agreed in advance.
We are paid for our advised protection services by commission, we will tell you the amount before we carry out any business for you.
When are fees payable?
Individual Transaction or Fixed Fee:
- The fee will become due in the month after the inception of any transaction. It can be paid directly to us by the product provider by way of a deduction from the value of your investments or as a commission payment. Alternatively, we can invoice you directly.
- The fee will become due from the month after the inception of any transaction and will be paid monthly or quarterly in arrears. It will be paid directly to us by the product provider and will be deducted from the value of your investments.
How will the fees be funded?
- Directly by ‘The Customer’
- By deduction from the value of ‘The Customer’s pensions and/or investments funds
- By commission from the product provider(s)
Are you protected?
The firm maintains an internal written complaints procedure. A hand-out summarising this process is available on request.
So, what happens if you are dissatisfied with us?
Hopefully, this won’t be the case, but 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 the company address or by telephoning us and speaking with the Compliance Officer or a Director. We will then provide you with details of the complaint investigation process and investigate your complaint thoroughly. Finally, we will write to you to explain our findings.
Furthermore, individuals and small businesses are protected by the Financial Ombudsman Service (FOS) and the Financial Services Compensation Scheme (FSCS).
We promise to deal with your complaint in a fair and objective manner, if you are dissatisfied with the way that we have dealt with your complaint or with our findings, you may refer the matter to the FOS, an independent arbitrator.
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 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 are complicated so if you are concerned in any way, please ask us for more information. Alternatively, you can contact the FSCS directly.
Please note that if you are not an individual, you may not have a right to refer your case to FOS and FSCS. 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 www.financial-ombudsman.org.uk or the FSCS www.fscs.org.uk
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 and tell you when fees are payable, how they are paid and the circumstances under which you may be entitled to any fee refund. 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 required payment.
The majority of our services are not subject to VAT. However, where we provide you with a pure advisory and consultancy service, where there is no reasonable expectation that the advice will result in a recommendation to transact a financial product or to invest funds, then VAT may be charged in addition to our fee at the rate prevailing at the time the fees are charged.
Your cancellation rights
You may cancel any ongoing service agreement you have with us at any time, although this should be made in writing. Any ongoing fee will cease within 14 days of written notification of cancellation. We will complete any transactions or work that is in progress at that time of the cancellation, unless you do not wish us to do so. We may cancel any ongoing service agreement with you by giving you a minimum of 14 days’ notice. No penalty shall be payable on any cancellation but we shall be entitled to remuneration for work undertaken prior to such cancellation. For the avoidance of doubt, if we have analysed your requirements and prepared a recommendation report on your behalf and you decide not to proceed with our recommendation, you will be liable for any initial transaction fee as detailed in this Fee Agreement, which will become immediately due.
It is a requirement of the Financial Conduct Authority that all clients are categorised into one of three categories (Retail, Professional or Eligible Counterpart). We have categorised you as a ‘Retail Client’. You have the right however to request a different categorisation if you wish. Please note that ‘Professional Clients’ and ‘Eligible Counterparts’ may receive a lower level of consumer protection.
Financial Objectives (Demands & Needs)
Following the issue of these terms and conditions and subject to your signing our fee agreement, any subsequent advice or recommendation offered to you will be based on your stated objectives, your agreed attitude to investment risk and any restrictions you wish to place on the scope of advice. Details of your stated objectives will be included in either the suitability report or demands & needs statement that will explain and confirm the basis of our recommendation and point out any key risks and disadvantages. There may be exceptions to this, for example business transacted on a non-advised or execution only basis (directly on your instructions whereby you will not have requested nor received any advice, or where pre-prepared questions are used to determine the product and provider) or on a limited advice basis (the firm’s recommendations were limited by the fact that not all relevant information was made available or because you requested that we limit our advice to a particular are of financial planning). If these situations exist, we will make it clear to you in any subsequent correspondence; however, you should appreciate that our responsibility to you will be limited accordingly.
Services and products not regulated by the FCA
Some of the products and services we provide are not currently regulated by the FCA and include, but are not limited to arranging and advising on some offshore schemes and investments. Because advice given on these products is not regulated by the FCA you may not have any rights to financial redress under the Financial Ombudsman Service or Financial Services Compensation Scheme with regard to any future disputes.
If you want to restrict the type of investment or service covered by this agreement, please let us know in writing as soon as possible, otherwise we shall assume that no restrictions apply.
Registration of investment/retention of policy documents
Where we arrange an investment, we will register these in your name unless otherwise agreed in writing. All contract notes and documents of title in respect of your investment will be forwarded to you, unless otherwise instructed in writing, as soon as practicable after being received by us. Where a number of documents relating to a series of transactions are involved, we will normally retain the documents until the series is complete and then forward them to you.
We prefer that any instructions be given in writing. If any advice or instructions are given orally, then they must be confirmed in writing to avoid possible disputes. We may refuse at our discretion to accept certain instructions, although such discretion will not be exercised unreasonably. When we have arranged any transactions on your behalf, we will not give you any further advice or service unless you have specifically agreed to an ongoing service for which we will be remunerated as detailed in our fee agreement.
Conflict of interest & material interest
Occasions can arise where we, or one of our other clients, may have some form of interest in business which we are transacting for you. If we become aware that our interests or those of one of our other clients conflicts with your interests, we will inform you and obtain your consent to proceed.
Verification of identity
As part of our regulatory duties, we are obliged to verify as a minimum, the identity, place of residence, source of funds and source of wealth of each client. This process may require sight of certain documentation. We are unable to forward any applications or money to third parties/product providers until our verification requirements have been met. We take no responsibility for any delay in investing where Identity Verification is outstanding. In circumstances where sufficient verification is not received in a timely manner after we have received completed applications, the application(s) and any monies may be returned to you un-invested. Please note that verification may include the interrogation of online resources such as the electoral roll and Her Majesty’s Treasury’s financial sanctions lists.
Receiving payments from clients
Beaumont Financial Planners Ltd does not handle client monies. We never handle cash or accept a cheque made payable to us unless it is a cheque in settlement of our fees in accordance with a signed fee agreement. Crossed cheques for investments should only be made payable directly to the investment company and to the relevant third party for various ancillary fees (for example mortgage lender, surveyor, and solicitor). You should decline to give money to, or write cheques payable personally to an individual adviser and any receipt by them personally of such a payment from you will not be regarded by us as being a transaction for which we will have any responsibility.
You are advised that because investments can fall as well as rise in value, you may not get back the full amount invested. Past performance is not a guide to future performance. Other key risks will be included within our suitability report and in product provider literature. Please ensure that you fully understand all such risks.
Fees resulting from third party introductions
There will be occasions when clients are introduced to us from third parties, for example accountants or solicitors. Under such circumstances, we may rebate part of the fee that we charge you to the introducer as payment for making the introduction. Our documentation will not show what proportion of fees will be rebated to introducers, as this responsibility will be with the introducer.
Most financial products will carry a right to cancel for a short period, typically 14 days, after the product has been put in place. Please refer to the specific product literature for more information.
Beaumont Financial Planners Ltd operates in the financial services sector where data handling and confidentiality are key issues. All the information we collect will be treated with the utmost confidentiality.
So that we may fully understand your circumstances and requirements, we will need to collect information about you, which we will hold as Data controllers under the Data Protection Act 1998 (DPA 1998). We will use this information to analyse your current and future financial needs so that we can ensure that any subsequent advice is suitable to your particular circumstances.
Our regulator the Financial Conduct Authority requires us to keep records of our business transactions for minimum periods of time depending on the transaction type. However, we will not keep records longer than is necessary. Where other companies and / or third parties provide services to us, then circumstances may arise which warrant the disclosure of more than just your basic contact details. On these occasions, such as processing business and obtaining compliance and regulatory advice, you are aware that sensitive personal information (for example health details) held by us may be disclosed on a confidential basis to such companies. You also agree that for the purposes described above your data may be transferred to countries outside the European Union.
Under the DPA 1998, you or your appointed agent, have a right to inspect computer and certain manual records relating to yourself and your transactions, and where appropriate have them corrected or deleted. All such requests for information must be referred to the Data Protection Officer. As we treat all client records as confidential, we reserve the right to give you copies of your records, where in certain circumstances to release the original would compromise other clients’ confidentiality or where access to your data is necessary to protect your privacy. We reserve the right to make a charge for releasing such documentation to you.
Where relevant, you understand that for any mortgage application your records may be passed to a credit agency and details of your personal records may be shared with other companies in relation to credit and preventing fraud.
Additional information requirements: distance communications
- Where you are likely to do business with us at a distance whereby we communicate exclusively by telephone, email, post or fax, then it is very important that you read the following points in addition to those above.
- The firm will provide you with a service as detailed in these terms and conditions, the information about our services document, the key facts about our services and costs document (mortgage and insurance business only) and fee agreement.
- The total price that we charge for our services is set out in our fee agreement which you must sign prior to our undertaking any service on your behalf. Please ask us if you are unsure as to any aspect of our pricing. There will be other charges and expenses imposed by the providers of insurance, mortgage and investment products which will be detailed separately.
- Please note there is the possibility that other taxes or costs may exist that are not paid through the firm or imposed by it.
- There are no specific additional costs imposed by the firm for dealing exclusively at a distance.
- You should note that some of our recommendations may involve investments that can fluctuate in value, for example depending on financial markets. These fluctuations will be outside of our control and you should therefore consider carefully potential fluctuations before entering into this type of contract. Our recommendations may also involve mortgages where the interest rate can fluctuate, for example depending on the bank interest rate. Please take care to read the warnings issued in this document and any provider literature. If you are unsure then please ask us to explain in more detail.
- The firm does not place any specific limitations on the period for which the information provided remains valid. If you are unsure if something still remains valid then please ask and we will clarify.
- The provisions of any contractual agreement to provide an ancillary advisory service and the relationship created by it shall be governed by English Law and subject to the exclusive jurisdiction of the English courts.
- Any such contract is supplied in English Language and will be communicated in English Language.
- Where it applies and relating specifically to any contractual agreement with the firm to provide an ancillary advisory service to you there will be a right to cancel our fee. This right to cancel will be detailed in the fee agreement. In the event of any dispute, unless there is clear written evidence to the contrary, we will treat the date cited for cancellation as being the date when notice was given, posted or otherwise sent. If you do not exercise your right to cancel then the fee we charge cannot be returned at some later date. For the avoidance of doubt, please note that you do not have a right to cancel a regulated mortgage contract concluded with a lender. Also, any cancellation provisions relating to a particular investment or insurance product are integral to the provider’s product and where they apply will be detailed separately in the provider’s literature.