Frequently asked questions

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Our FAQs

Financial Planning

Why should I take financial advice?

Professional help to plan your personal finances is incredibly useful to ensure that you’ll be able to afford what you want to do now and in the future.

How do I choose a Financial Planner?

Common criteria are;

  • Are they an independent adviser or are they a restricted adviser? 
  • Who are they authorised by?
  • Reference – has anyone you know had a good experience with an adviser?
  • Expertise – do they advise clients like you?
  • Cost – do the costs work for you?
  • Do you get on with the person?
  • Can they illustrate your financial future using cashflow software? 
Are financial advisers value for money?

Importantly, an adviser can help you to avoid making costly mistakes such as choosing the wrong investment for your needs or in the worst case, being defrauded. Advisers can recommend products that are currently competitive which may reduce ongoing costs, saving you money. 

When should I take financial advice?

If you need help making important financial decisions that can become complicated or time consuming.

How do Financial Planners charge?

It depends on a number of factors:

  • What you’re asking them to do
  • How complex it is
  • The expertise required to provide the advice
  • If you want just one-off advice or want an ongoing advisory relationship
How much does a Financial Planner cost?

Fixed costs

  • Depending on the job, but typically £1,500 – £3,000 for a Financial Plan 

Hourly rates

  • Variable based on the qualifications of the adviser, but typically £150-£500 per hour

Monthly costs

  • Depends on the service provided but typically £250 – £500 per month

Percentage of the money invested

  • Depends on the amount of money invested, but typically 1.5% – 0.5%

Source: MoneyHelper.org

What’s the difference between Financial Advice & Financial Guidance?

Financial advice is provided by an adviser, whereas Financial Guidance is a structure for you to make your own decisions. 

Can I get free financial advice? 

It’s not possible to get free financial advice. 

However, you can access websites and organisations that can provide you with help in making your own decision.

Organisations that offer guidance are:

  • MoneyHelper
  • Money & Pension Service 
  • Pension Wise
  • Citizens Advice
  • National Debtline
What is a Financial Plan?

A document and supporting information which covers your:

  • Aspirations
  • Financial milestones
  • Cashflow analysis and chances of success
  • Debt management
  • Investment preferences
  • Investment appetite
    • Your investment tolerance
    • Your capacity for loss
    • Your need to take risk
  • Short term funds
  • Longer term investments
  • Suggested actions in the areas of;
    • Wealth Enhancement
      • Tax saving 
    • Wealth Protection
      • Managing financial risk
    • Wealth Transfer
      • Business succession
      • Legal documentation
What’s the difference between a Chartered Financial Planner and an Independent Financial Adviser (IFA)?

A Chartered Financial Planner has been accredited by an industry professional body as having a higher level of qualification. The Level 6 Advanced Diploma in Financial Planning builds on existing skills and knowledge, enabling advisers to offer specialist advice and provide a comprehensive approach to financial management.

An Independent Financial Adviser (IFA) is qualified to advise clients and holds Level 4 Diploma in Financial Planning.  

What’s the difference between an Independent and restricted adviser? 

Independent advisers can arrange and advise on investments and products from any provider. 

Restricted advisers are either restricted by the provider or product they offer.

What training and experience do Financial Planners have?

Advisers must have Level 4 qualification from a recognised provider. It requires studying and passing examinations.

Ongoing, advisers must provide evidence of 35 hours per year of continual professional development (CPD). 

Who are Financial Planners regulated by?

Financial Advisors are authorised and regulated by the Financial Conduct Authority (FCA). 

An adviser must:

  • Be registered with the FCA under the Directory of Financial Services Workers 
What qualifications should I expect an adviser to hold?

Advisers must hold:

  • Statement of Professional Standing
  • Level 4 Qualification

Chartered Financial Planners require these together with:

  • Level 6 Qualification 
  • Demonstrable industry experience 
What is a Chartered Firm?

A firm qualification following annual ethics and quality assessment by the Chartered Insurance Institute. The assessment tests the highest level of industry professionalism.  

Which key professional bodies do Financial Planners belong to?

Chartered Insurance Institute (CII), Personal Finance Society (PFS), Chartered Institute Securities and Investment (CISI).

Preparation for an Introductory Meeting with Bourlet Consulting 

What thinking should I do in advance of the initial meeting?
  • Your most important questions
  • Your reason for wanting advice
  • Your thoughts on your short, medium, and longer-term aspirations
What information should I bring to a first meeting?
  • Statement of your financial assets
  • Statement of your mortgage/loans
  • Personal protection insurances 
  • Income/pension/benefit details
  • Expenditure
    • Essential 
    • Discretionary 
What questions should I ask?

Ask whatever you think is important to ensure you have a successful outcome. There are no such things as “silly questions”. 

What questions will you ask me?

What’s important to you from the perspective of your future plans? And who is important to you in life. 

Some careful thinking on these questions is essential in advance of the meeting.  

In the meeting itself, the key components are to establish:

  • Your personal milestones
  • A broad idea of what your financial and tax position
  • An investment timeframe
  • A view on investment preferences. 
What are your timescales?

If you have specific timescales in mind or need to make important decisions by a certain date, let us know. 

Working with Bourlet Consulting 

Who do you work with?
  • Families with complicated financial circumstances
  • Individuals with investments who need help 
  • Trustees who are looking for guidance
  • Company owners who are building value in their business 
  • Company owners who are selling 
  • Deputies and Powers of Attorney who want help and support
Who do I call?

Call the main office on 01249 700 460 and chat through your initial questions with one of our team.

Next steps

Get in touch

If you want to know more about our plan and process, simply pick up the phone, get in touch and we would be happy to talk through financial options with you.