Our Advice Process
At The First Choice Insurance Consultants Ltd, we have a wealth of experience and market knowledge to help you get the most from your finances. We use a tried and tested approach to ensure that we manage all of our clients' financial affairs efficiently, responsibly and ethically:
1. Initial “Discovery” Consultation
An initial discussion to understand your needs, financial goals, and priorities, at no cost and no obligation.
2. Initial Review or Needs Analysis
We begin our research once you instruct us to act on your behalf
We will review:
- Your current financial circumstances
- What money you have coming in, your average expenditure and what you need to keep in reserve
- Personal details about you and your family, your tax position and financial needs, your future plans and your investment goals ie:
- If you need to take an income from your investments?
- If you want to achieve capital growth?
- We can review your existing investments to make sure they are still suitable
3. Risk Assessment and Risk Profiling
- Completion of a risk profile questionnaire
- A conversation about risk
- Reach agreement on an the amount of investment risk you are happy to accept
4. Suitability Assessment
A report confirming our recommendations to you, why they are suitable and what the associated risks and costs are.
When we have agreed how to proceed we will implement the plan on your behalf
6. On-going Service (if selected)
A choice of differing levels of support depending on your needs.
Our Charging System
- A transparent and fair charging system for the advice and service we give
- We agree with you, in advance, how much you will pay for the research we undertake on your behalf, for any investment you make, and for the on-going advice (if applicable). Fees apply from the Initial Review stage of the process outlined below and we agree with you, in advance, how much you will pay.