Fee Writer Introduction

1. Fee WriterIntroduction Fee Writer is designed to give IFA firms a standardised way of dealing with new clients no matter what their enquiry. It is designed to provide both a commercially viable fee charging option as well as meeting the FSA’s requirement for offering a fee and being clear on charging and commission offset. Start demonstration To close the demonstration at any time hit the Esc key.

2. Fee Writer Rate Setup Start by adding some basic information. This is only required once when you first use Fee Writer, although you may re-visit it to amend any rates at anytime.

3. Fee Writer Rate Setup

4. Fee Writer Rate Setup Continue by adding fixed costs to specific jobs as above.

5. Fee Writer Rate Setup Now add the basis on which you want to charge for Funds under your Management. This allows you to have up to 3 tiers of charging rates on a reducing basis for new money and an annual percentage charge thereafter. Set the amount of time you expect an average review meeting to take including any preparation time and a recommended number of review meetings per annum based on the overall value of a clients’ managed funds.

6. Fee Writer Rate Setup The final stage of rate setup allows you to add up to 4 of your own regulatory documents that you will provide to clients each time you issue a fee agreement. The 1st in this list is the Client Fee Fact Sheet which is generated by Fee Writer. Add the firms bank details and setup is complete.

7. Fee Writer Creating an agreement Add the clients details, the date and whether the client is an existing fee client. If applicable, decide whether VAT will be chargeable and select a fee type.

8. Fee Writer Creating a one-off agreement By ticking One-Off Report we have a series of options to choose from and a yellow field to complete. In this case the client requires a Pension/Investment planning report along with a review of their 2 Endowments.

9. Fee Writer Creating a one-off agreement We answer the 2 questions and can now view the agreement.

10. Fee Writer Viewing a one-off agreement The selected items are detailed in this section the total cost here and an area for the clients to sign

11. Fee Writer Viewing a one-off agreement By clicking “Print Firms Copy” you can print or save the quote to pdf. This includes all the information used to calculate the fee. clicking “Print Client Copy” produces this agreement with the Terms and Conditions along with the Client Fee Fact Sheet.

12. Fee Writer Terms and Conditions for a one-off agreement The terms and conditions appear on page 2 including the list of regulatory documents we added in the Rate setup section.

13. Fee Writer The Client Fee Fact Sheet The detail in the Client Fee Fact Sheet is automatically populated from the information we recorded in the Rates Setup section.

14. Fee Writer The Client Fee Fact Sheet

15. Fee Writer A one-off agreement Returning to the calculate fee section we will now create a regular or retainer fee. These are designed to spread the cost of regular meetings. We will untick the One-Off Report to see the other fee options.

16. Fee Writer A regular / retainer agreement

17. Fee Writer Creating a Regular agreement The client details have been retained and we now need to complete some questions based on regular meetings.

18. Fee Writer A regular fee agreement In this case, the clients require 2 meetings a year at their home which is 35 miles away. We have estimated travelling time will be approximately 1 hour each way and each meeting will last 1.5 hours.

19. Fee Writer Viewing the regular agreement The cost of this is £1,036 per annum or £86.33 per month by Standing Order. However, this is more than the clients are prepared to spend, so we can return to the Calculate Fee section and make some amendments.

20. Fee Writer Amending the regular agreement A large percentage of the cost is in travelling time and expenses so the clients agree to come into the office instead.

21. Fee Writer Amending the regular agreement There is no need to remove the travelling items, simply change the “meetings held in our office” option to yes and they will be removed.

22. Fee Writer Viewing the regular agreement This action has reduced the fee to £399 or £33.25 month. Not only have all the travelling expenses been removed but the clients have also benefited from the 5% discount we allowed for meetings held in our office, back in Rates setup. The clients are happy with this and elect to pay by Standing Order. The “Print Client Copy” option now includes a populated Standing Order mandate.

23. Fee Writer The Standing Order Mandate

24. Fee Writer Amending the regular agreement In a different scenario, we might already be receiving some income from the clients by way of trail commission and this can also be used to reduce the amount of the fee.

25. Fee Writer Amending the regular agreement

26. Fee Writer Viewing the amended agreement This has now reduced the monthly fee to £28.67

27. Fee Writer Amending the regular agreement We might then decide to round the £28.67 down to £25 month.

28. Fee Writer Viewing the amended agreement and this too is amended in the agreement and the Standing Order

29. Fee Writer An Investment Management agreement If the clients had some money they wanted us to look after we would produce an Investment Management agreement. Again, we simply need to fill in the yellow fields.

30. Fee Writer An Investment Management agreement

31. Fee Writer An Investment Management agreement This is 55% of the annual commission we will receive which we are prepared to offset against the cost of the meetings. Again this figure was applied in Rates Setup. and finally, the £55 we already receive in trail commission 2 meetings per annum at 4 hours per meeting and £140 per hour is £1,120 less 5% for meetings held in the office is £1,064 and the annual ongoing charge is 0.5% again as we applied in Rates setup. The initial cost of £7,000 is 3% on the 1st £150,000 and 2% of £125,000. These being the rates we applied in the Rates setup section.

32. Fee Writer Summary In summary, once you have added your rates and preferences to the Rate Setup section you have just a few yellow fields to complete and you will be producing instant, accurate and standardised fee agreements to all of your clients. We also offer a bespoke design service where we can add your company logo or make other amendments.

33. Fee Writer That concludes the demonstration. Thank you very much for watching. If you would like more information or a live no obligation online demonstration of any of our products, please call us on 0844 734 3465 or click the button below to send us an email Play the presentation again Press escape (Esc) to close