As a partnership, we try to insure that all our advice and dealing with clients is clear, fair and simple.
Making things clear in financial services can be a difficult balancing act; as advisers we are steeped in a jargon that is often far removed from the "man on the Clapham Omnibus". Like lawyers, we use some common words to mean something quite specific, which is inexplicable to outsiders. (Just ask an IFA about the difference between "advice" and "guidance", remembering to run away and hide!) We believe that everything in financial services can be made clear, if you take the trouble to do so.
Fairness can be a difficult concept to communicate sometimes. For some people, the Wolf of Wall Street is a training film, as fairness has no part in their daily lives. For us things are different; fair is essential, for our peace of mind and to meet, in full, the Financial Conduct Authority treating customers’ fairly requirement. Our task is to do the best for our clients and that includes not overcharging or making arbitrary charges. Fairness also includes not picking products that we are not comfortable with; if we would not buy it ourselves, then asking someone else to is unreasonable.
Fairness extends to the cost of our service; we need to make enough to cover our costs and make enough "profit" to maintain and improve the business. We base our charges on our actual costs, not what the market will stand, so we will tend to be cheaper than most. We have no chargeable baggage from our past, so you are not paying for legacy infrastructure we do not use, inefficient administration, fancy offices or extensive perks for staff or partners.
Finally, simple; in our world this means;
- We never suggest anything we cannot explain to you.
- We believe that all financial products can be explained simply in terms of acquiring assets to generate a yield.
- Complexity works against the client. It is either bluster baffles brains or a reason to charge more for old rope.
- We can think of no good reason for someone to be offered unregulated products in a regulated setting. Regulated advice offers regulated protection and to step outside would appear foolish.
Many years in the industry has convinced us that most new, novel, exciting, exclusive, ground-breaking, once-in-a-lifetime offers are just marketing fluff. At best, it will be a re-hash of something that came before; at worst, lipstick on a pig.
If you would like to know more about how we can help you plan and realise your financial goals then contact us at firstname.lastname@example.org or call us on 01223 792 196.
The information contained is for guidance only and does not constitute financial advice. It is based on our understanding of UK legislation, whether proposed or in force, and market practice at the time of writing. Levels, bases and reliefs from taxation may be subject to change. Accordingly no responsibility can be assumed by Martin-Redman Partners its officers or employees, for any loss in connection with the content hereof and any such action or inaction.