Our Charges
Midland Financial Solutions Ltd offer completely fee-based Independent Financial Advice. However, we always offer an initial consultation at no cost to you, to establish whether we can help you and to give you a chance to see if you can work with us.
Wherever possible we will quote you a fixed-fee for any work that we undertake on your behalf and will agree this with you before commencing any research and formulating our recommendations. All fees will be agreed with you PRIOR to carrying out any chargeable work.
We will also agree with you the level of ongoing service you require (if any), the cost of this service and your options as to how it can be paid for.
The arrangement of some financial transactions will result in Financial Advice firms being able to take an initial commission payment from the product provider. Any initial commission that is received by us for arranging transactions on your behalf can either be credited against our fees, reinvested to enhance the terms of the contract, or refunded to you (this is option not possible for all products). The important fact to remember with fee-based advice is that you decide how much commission is taken and how it is used.
There is sometimes a perception that commission-based advice is ‘free’, as no explicit charge is made by the adviser, however, commission payments made by product providers are usually met from the contract charges. Therefore the higher the amount of commission that is taken, the higher the overall contract charges. Please use the following link for an example of this and for further details relating to commission payments.
