Our Advice Process

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& Proactive

At Principal & Prosper we want to help you achieve what you want in life. For each of our clients we create a bespoke intelligent financial plan that both meets your current needs and aspirations

Our Advice Process

Our pursuit of creative thinking and perfection along with our responsible approach, combine to ensure that we provide you with a clear financial solution. This is achieved by having a full understanding of your current financial position, your objectives, and identified needs. Our aim is to maximise the opportunities to achieve your goals.

Our Processes

  1. Preparation: Gather all relevant information.
  2. Process: Research, evaluate and create recommendations.
  3. Presentation: Present to you our recommendations.
  4. Plan: Implement your financial plan.
  5. Projections: Monitor and review and consider future projections.

1. Preparation

The first stage of our process is to gather information about you, your finances, your attitude to risk, your needs and objectives to help us give you the best possible advice. The information you give will be collated on a form known as a Fact Find.

A key area that we focus on is your attitude to risk. The impact that risk will have on your objectives will be discussed and recorded. Your attitude to risk may vary depending on the time frame you are considering and your future financial objectives.

Our Ongoing Service will update the information we hold about you on a regular basis to ensure that our recommendations continue to meet your circumstances. Once we have completed our Fact Find, we will give you our initial thoughts on your financial situation and discuss with you any immediate action we think you should take, for example the arrangement of relevant investments.

2. Process

Where necessary, we will forward any letters of authority that you provide to the relevant Product Providers. We will analyse any additional details issued by the Provider in conjunction with the information we have gathered at our initial meeting. If we need any other information or permissions to liaise with your other professional advisers (e.g. accountants, solicitors etc) we will contact you. The research and report preparation may take 2-8 weeks to complete. 

Using our own technical research expertise complemented by appropriate external research we will prepare an outline report, tailored to meet your individual objectives.

This will summarise your attitude to risk, our recommended asset allocation and your time horizon.

We may recommend various time horizons dependent on any known or foreseen events.

Any advice or recommendation we make will be based on your stated objectives, circumstances and will take into account any restrictions you may wish to place on the type of investment you are willing to consider. 

We will make sure that, wherever possible, we maximise any tax planning opportunities and if necessary, will liaise with your other tax advisers. Please note that the FCA does not regulate tax advice.

The recommendation we provide will contain any supporting information, including where applicable, illustrations and product brochures (including Key Features Documents).

3. Presentation

We will normally send out our recommended financial report for you to consider and we will then arrange to meet you again to discuss its contents. At this meeting we will discuss with you our recommendations and confirm that you are happy for us to proceed with your plan. If your objectives have changed or you have any immediate questions on the report, you will be able to discuss these with us at that time.

We want to make sure that the plan we have created delivers exactly what you expect from it. If this requires further meetings to finalise your plan, these will be arranged as necessary.

We will cover any associated costs, as well as providing past performance and expected returns information for each investment we recommend. We will also outline your current investment position and will detail our professional observations in each area.

4. Plan

This stage will normally involve the completion of the following:

  • Complete application forms
  • Complete transfer forms
  • Payment of investment fee
  • Payment of advice fee

We will provide you with any assistance you need to complete these documents. When we have received your completed documents we will contact the recommended Provider(s) in order to implement the plan on your behalf.

Details of any advice arranged on your behalf will be recorded on our administration system, along with any information we have gathered in relation to your plan, including any current or planned investments. 

5. Projections

Once we have met to discuss your plan and it has been put into effect, we will continue to regularly review and monitor your plan based upon your needs.

We will continue to provide you with advice and administrative support on an ongoing basis.