Future Start Our Services Explained

I N D E P E N D E N T F I N A N C I A L P L A N N I N G

FUTURE START

Effective financial planning for your future

Our Services Explained

www.futurestartifp.com

At Future Start we pride ourselves on

remaining independent which means that

we have no bias towards any product or

provider.

As independent financial advisers it is our

job to assist you in making your money work

as hard as possible, no matter what stage of

life you are at.

Using their knowledge and expertise, our

highly qualified advisers help by creating

a personal financial plan tailored to your

needs.

When placing your trust in us, you can

rest assured that we will act with integrity,

abiding by the highest standards of

professional conduct at all times. We will

maintain an honest, mutually respectful

relationship with you and always place your

interests above our own.

We help you to be clear about your financial

future and give you peace of mind and less

worry so that you have more time, more

freedom and more choices.

We take the time to conduct thorough

research on products, funds and providers

on your behalf so that you don’t have to. By

taking detailed information from each of our

clients we can match the most appropriate

solutions from leading household names

to our client’s goals and aspirations. In

addition, we have teamed up with one of

the foremost providers of financial data in

the UK to create investment portfolios for

our clients, modelled to specific risk profiles

and consisting of the leading names in

investment management.

At Future Start we recognise that everyone’s

circumstances are different and as such

offer differing levels of service. Each of our

services has the flexibility to be tailored to

suit your particular requirements and the

complexity of your financial circumstances.

This brochure describes each of our

services and through discussion with your

adviser you will be able to select the most

appropriate for you.

This brochure should be read in conjunction with our leaflets ‘Client Agreement for Investments & Insurances’ and ‘Service Proposition & Engagement’.

Appointing a financial adviser is an important step to undertake and, for many, is the start of securing their financial future.

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Our Services Explained

At Future Start we aim to make the process of

financial planning easy for our clients. Whether

you need help making sense of existing plans,

starting new ones, a combination of both or

working out whether what you have is on track to

give you what you need and want, we can help.

This brochure outlines the financial planning

process in detail. In addition, below we have

outlined the stages that you can expect to go

through in order to create your personalised

financial plan.

Initial Consultation• Identify your goals• Explain our service

• Take an overview of your current situation

The Financial Planning Process Explained

Stage 1Fact find

• Gather detailed personal information in order to establish current position

• Understand in greater depth the timeframe and amount needed to meet

your financial goals

• Assess your level of risk appropriate to each goal

Stage 2Analysis and design• Analyse fact find information

• Gather information from existing providers

• Research solutions to best meet your goals

• Create a personalised report based on the level of service that you select:

Focused or Comprehensive

Stage 3Presentation and implementation

• Present our findings and explain our recommendations as outlined in your report

• Confirm whether you wish to implement any recommendations at this stage

• where agreement reached to proceed we shall implement your plan, dealing with the

administration and liaising with providers on your behalf

Stage 4Ongoing service

• Review of goals and personal circumstances, including reassessing

attitude to risk

• Online 24 hour a day access to information about your plan (s)

• Telephone support

• Regular financial news including investment updates

• Ongoing management and professional governance of your financial plans from leading household names in investment

management

4 l Effective financial planning for your future

At Future Start we offer a one hour initial

consultation at our expense.

This consultation gives you the opportunity

to ask questions and better understand

our service. It also gives us the opportunity

to talk to you and understand your goals,

explaining how we can help support you in

working towards them.

During the initial consultation your

adviser will…

• ask you what made you seek professional

financial advice

• outline who we are and who we work with

• explain our service options, terms of

business and the financial planning

process that we follow, answering any

questions you may have along the way

• ask for an overview of your current

financial circumstances, your existing plans

and your financial goals

• discuss your understanding of financial

planning and your past experiences; what

you have found really good or maybe not

so good

• “Any other business?” we will of course

answer any other questions that you have

This will conclude the initial consultation.

Should you choose to proceed further at

this stage we then move on to the, ‘Financial

Planning process’.

Initial Consultation

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To create a financial plan it is really

important for us to understand our

client’s goals and aspirations; how much

is needed, by when and for what purpose.

It is also paramount to understand our

clients existing arrangements, their current

circumstances and their attitude to risk so

that any recommendation(s) that we make

can be personalised and based upon facts.

We only ask for information that we feel is

necessary to make our recommendations

and we adhere to the strictest levels of

data protection, not sharing any of your

information with third parties unless

necessary to implement your financial plan

and not before gaining prior consent.

Before proceeding with the fact find we ask that our clients sign our ‘Client Agreement for Investments and Insurances’ and our ‘Service Proposition & Engagement’ leaflets confirming their understanding of the type of service that we offer and how much it will typically cost. We also ask you to choose which level of initial service you would prefer; ‘Comprehensive Financial Planning’ or ‘Focused Financial Planning’.

1) Comprehensive Financial Planning

Our preferred method of financial planning

is to offer clients our Comprehensive

service. The fact find will go into great detail

about existing plans, current circumstances

and any potential changes envisaged in the

future. We then assess this information and

produce a personalised report outlining

a range of recommendations to address

your goals in addition to making other

recommendations where we believe your

circumstances could be enhanced further.

The Comprehensive service does not focus

on just one goal.

2) Focused Financial Planning

Some clients request that we only

investigate and produce recommendations

for a specific goal or need. Where a client

has chosen this level of service we shall only

obtain the necessary information to produce

a recommendation aligned to this goal. Any

recommendations made may be different

from those made to a client opting for the

Comprehensive Financial Planning service

in which a broader range of information is

obtained.

You will find details of our typical costs for

each level of initial service in our leaflet

“Client Agreement for Investments and

Insurances”.

Once you have selected the level of initial

service that you would like we move onto

the fact find.

Stage 1The Fact find


During the fact find we…

• gather greater detail of your current

financial circumstances, request

identification and clarify your financial

goals and objectives, considering

appropriate time frames

• establish an appropriate level of risk for

each of your financial goals using industry

leading technology and research

• ask for your written permission to gather

information from your existing providers

• may ask for permission to correspond

and liaise with your accountant, solicitor,

employer or other professional advisers

• will give you an indication of how long the

planning process may take. The process

can vary in length depending on how

quickly any existing providers that you

wish for us to research take to respond

to requests for information. Times frames

may also vary due to complexity of the

recommendation(s).

Upon completion of the fact find we will

reconfirm your goals to ensure our complete

understanding after which ‘Stage 1’ is

complete and the initial meeting concludes.

During Stage 2: ‘Analysis and Design of your

personal financial plan’ we will…

• keep you updated of progress throughout

• be available to answer questions or

concerns should you have any

• explain things clearly and in a manner that

you can understand

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Having taken the time to understand in detail

your goals and aspirations your adviser will

create for you a bespoke report. Your report will…

• summarise your current personal and financial

position, needs, goals and aspirations

• give due consideration to any changes you

envisage in your personal and financial situation

in the future

• contain analysis of the information provided by

you at the fact find

• contain information we have obtained about

your existing plans highlighting whether we

believe they remain suitable and best placed to

meet your current and future goals

On occasion, should the need arise, we

may contact you for further clarification or

information.

The content of the report will then contain further

detail depending on the level of service you

selected from outset; Comprehensive Financial Planning or Focused Financial Planning.

The different types of reports and the additional

content they contain is outlined below.

Focused Financial Plan

This report will focus on a specific area of advice

chosen by you. Recommendation(s) will be made

which include specific providers and products

The contents of this report will…

• suggest a focused course of action for you

to take to achieve your specific goal with

justification as to why

• provide specific recommendations as to

providers and products having considered

and conducted research on all those available

in the market

• explain why these specific recommendations

have been made and how they can help you

achieve your stated goals

• not provide a comprehensive financial planning

strategy

Comprehensive Financial Plan

This report provides a comprehensive financial

planning strategy based on detailed analysis of

your financial situation and objectives

The contents of this report will…

• provide a comprehensive financial planning

strategy

• suggest a course or courses of action for you to

take to achieve any specific financial goals with

justification as to why

• will suggest and recommend any other areas

of financial planning identified that could

enhance your financial position with justification

as to why

• provide specific recommendations as to

providers, products and investment solutions

having considered and conducted research on

all those available in the market

• thoroughly review your existing arrangements

and their continued suitability suggesting

changes where necessary

• explain why specific recommendations have

been made and how they can help you achieve

your stated goals

• provide a Financial Life Plan (where agreed in

advance) *

Stage 2Analysis and Design of your personal financial plan

*ask your adviser for more information on financial life planning and how it can benefit you


Summary of what’s included in each report option

Focused Financial Planning Report

Comprehensive Financial Planning

Report

Summary of current personal circumstances ✓ ✓

Summary of current financial position ✓ ✓

Summary of your financial goals ✓ ✓

Information on each of your current plans that you requested us to research

✓ ✓

Areas that we recommend you take action ✓ ✓

A review of a specific area of concern to you ✓ ✓

Recommendations relating to your specific area of concern

✓ ✓

Recommendations of products, providers and funds from those available in the market to address your specific area of concern

✓ ✓

A comprehensive review of all your financial arrangements

✓

A comprehensive set of recommendations to address fully any areas of financial planning identified throughout the fact finding process

✓

A comprehensive personalised Financial Life Plan with cash flow analysis to demonstrate the impact of our recommendations (where agreed in advance)

✓

Upon completion of your personalised financial planning report we shall contact you to arrange

our next appointment (if this has not been done already) where we shall discuss our findings and

recommendations with you. We call this ‘Stage 3: Presentation and Implementation of your Personal

Financial Plan’.

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The final stage in the creation of your

Personalised Financial Plan. Your adviser

will…

• present back to you and discuss any

findings in a bespoke report

• explain their recommendations and how

they address your goals, answering any

questions you may have

• provide you with all the literature you will

need to accompany your personalised

recommendation

If at this stage you are happy to proceed

further and implement all or some of your

Personal Financial Plan your adviser will…

• complete all paperwork obtaining your

signature where necessary

• liaise with product providers on your

behalf

• provide information on setting up any

online functions your recommended

solution may offer (where required)

• issue you with all contact details for

recommended providers

• keep you up to date with progress until

fully implemented

• be on hand to answer any questions

should you have any

Stage 3 Presentation and Implementation of your Personal Financial Plan


Your Personal Financial Plan is based on

your current circumstances, future goals

and any potential changes that you feel

might occur. Life is rarely straightforward

and circumstances can change. In addition,

legislation also changes from year to year as

do market conditions.

With this in mind, many clients choose to

work with Future Start on an ongoing basis

in order to have the peace of mind that

expert help is only ever a phone call away.

Working with Future Start offers a

whole host of benefits including; expert

governance embedded into our investment

process, access to a qualified adviser, the

choice of face-to-face or online reviews and

confidence that recommendations will be

based on thorough research of the market.

Future Start offers different levels of

ongoing service to cater for the differing

needs of our clients. We also offer a

transactional service for those clients

who prefer to get in touch as and when

they need. The level of ongoing service

is determined by the value of your

investments under advice with Future Start.

The costs for each level of ongoing

service can be found in our leaflet ‘Service

Proposition & Engagement’.

Stage 4Ongoing Service

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Ongoing Service Levels

What to expect Transactional Core Comprehensive Premium

Initial Investment N/A £0 to £200,000

£200,001 to £500,000

£500,001 and above

Annual Statement of Holdings ✓* ✓ ✓ ✓

Monthly newsletter and market update

✓ ✓ ✓ ✓

24 hour access to personal client website**

✓ ✓ ✓

24 hour access to personal client website on mobile device**

✓ ✓ ✓

Telephone Support ✓ ✓ ✓

Face to face/online review meetings

1 Up to 2 Up to 4

Personalised report outlining changes made to your portfolio since your last review with reasons why, valuation and performance commentary

✓ ✓ ✓

Review of your objectives and update of any changes in your circumstances

✓ ✓ ✓

Review of your attitude to risk

✓ ✓ ✓

Review of tax changes/legislative changes

✓ ✓ ✓

Where applicable update your personalised Financial Life Plan

✓ ✓ ✓

Introduction to/liaison with accountant/solicitor where required

✓ ✓ ✓

* Online access may also be available depending on the provider

**Terms and conditions will apply to use of the personal client website

For clients opting for a ‘Transactional Service’ all ongoing service options are available at set fees.

Details of all ongoing fees and ad-hoc service fees can be found in our leaflet ‘Service Proposition & Engagement’.


Clients who elect our Transactional service

may wish to have details of our online

advice option. Ask your adviser for details

or visit www.FutureInvestor.co.uk.

Who might ongoing service be suited to?

1. Transactional serviceThis option may be suited to a client with

less complex requirements and/or one who

does not require regular face-to-face service

either online or in person. A client who

selects this option understands that they

will be provided with minimal information;

an annual statement and where available

online access via the recommended

provider. It is possible to arrange ad-hoc

reviews or other services for a fee, see our

leaflet ‘Service Proposition & Engagement’

for details. A client who elects this option

will also be able to subscribe to our

monthly newsletter.

2. Core, Comprehensive and Premium plansThese options are suited to clients that

value a regular review with their adviser

either online or face-to-face. A client’s

portfolio will be reviewed to ensure it

remains appropriate in light of changes

to legislation, changes to taxation and

changes to personal circumstances,

including attitude to risk. In addition clients

will have full access to information about

their portfolio 24 hours a day either online

or via mobile application. A client who has

one of these options will also be able to

subscribe to our monthly newsletter. Where

applicable, a client who has a Personalised

Financial Life Plan will have this updated

to reflect current personal circumstances,

inflation, investment returns and other

variables.

3. Our online advice serviceFor those clients who wish to set up an ISA

or investment account without face-to-

face or online interaction with an adviser

Future Start offers a shortened, automated

investment advice service via our sister

company Future Investor. It is also possible

to use this service to transfer existing

ISA’s that you have. This low cost, quick

method of investment allows investors to

still receive advice, assess their attitude to

risk and get an indication of what returns

they could potentially receive. For more

details please visit www.futureinvestor.

co.uk. Here you will find information about

the award winning investment partners

that we work with, prices and useful tips

to investing. Telephone support is available

with this service. Details of charges for this

service can be found on the Future Investor

website.

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54 Clarendon Road

Watford

Hertfordshire

WD17 1DU

Email: [email protected]

Phone: 01923 431603

www.futurestartifp.com

Contact

I N D E P E N D E N T F I N A N C I A L P L A N N I N G

FUTURE START

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Future Start Our Services Explained