Terms of Business
The Financial Conduct Authority (FCA)
The FCA is the independent watchdog that regulates financial services. This document contains extracts which have been designed by the FCA to be given to consumers considering buying certain financial products. You need to read this important document. It explains the service you are being offered and how you will pay for it.
Who Regulates Us?
Easy Financial Planning is an trading style of Spectrum Independent Financial Advice Ltd which is an appointed representative of Prism EBC Ltd, Regent House, Mitre Way, Battle, East Sussex, TN33 0BQ, who are authorised and regulated by the Financial Conduct Authority. Prism EBC Ltd FCA Register number is 630623. Our permitted business is to advise on and arrange pensions and investments. You can check this on the FCA’s Register by visiting the FCA’s website www.fsa.gov.uk/register or by contacting the FCA on 0845 606 1234.
What Service do we offer?
Spectrum Independent Financial Advice Ltd are classed as a “Restricted Financial Adviser” when promoting and utilising Easy Financial Planning or Easy Retirement as trading names of Spectrum Independent Financial Advice Ltd. for clients who wish to set up a new pension or transfer/switch existing pension arrangements.
What to do if you have a complaint
If you wish to register a complaint, please contact us in writing at: Easy Financial Planning, Regent House, Mitre Way, Battle, East Sussex, TN33 0BQ By phone: 0800 9708 808 If you cannot settle your complaint with us, you may be entitled to refer it to the Financial Ombudsman Service.
Are we covered by the Financial Services Compensation Scheme (FSCS)?
We are covered by the FSCS. You may be entitled to compensation from the scheme if we cannot meet our obligations. This depends on the type of business and the circumstances of the claim. Most types of investment business are covered up to a maximum of £50,000. Further information about compensation scheme arrangements is available from the FSCS.
We charge a reporting fee for each pension review. The cost is dependent on how many schemes need to be analysed and whether a review of lifetime protection is required. Details of reporting costs are provided below:
|No. of plans||Reporting Cost|
|4 or more||£200.00 per additional plan|
Initial Advice Fee
|Initial Fee on investments up to £200,000||3% of the funds invested||for an investment of £150,000 you would be charged £4,500|
|Initial Fee on total investment between £200,000 - £500,000||2% of the funds invested||for an investment of £250,000 you would be charged £5,000|
|Initial Fee on total investment between £500,000 - £1,000,000||1.75% of the funds invested||for an investment of £550,000 you would be charged £9,625|
|Initial Fee on total investments above £1,000,000||1.5% of the funds invested||for an investment of £1,100,000 you would be charged £16,500|
Ongoing Advice Fee
A full ongoing advice service is available for our clients. We charge 0.75% when the total pension value is under £150,000 and 0.5% when the total fund value is above £150,000. This is based on the fund value under management, and therefore the amount received by Easy will fluctuate in line with the fund value. For example, if we service a pension valued at £100,000, we would charge an annual fee of £750. If the pension was £200,000, the annual fee charged would be £1,000.