Berwick Devoil
Financial Solutions & Outsourcing

FAQs

How do I get started with BDFSO?

Come in for a free meeting to discuss what it is you or your company would like to do now and going forward / ongoing. Let us know what your past experiences have been, your concerns, your preferences, what you like, don’t like and what is keeping you up at night. This enables us to start a tailored long term plan suited to you specifically.

What should I expect from the BDFSO financial planning process?

Our process begins with a free initial meeting where we explain the priority order of needs Protection, Retirement, Investment, Savings & Mortgages (PRISM). We will review all your information regarding your existing polices, employee benefits, state pension forecasts, tax returns, assets and liabilities, will and estate planning documents.

Based on the sum of all of the parts we will assess where you are now and where you want get to. Individual risk assessment of each area is undertaken as your risk appetite for your mortgage is likely to vary from your pensions and investments.

We base our recommendations on a priority order of need not want, taking into account your budget, age, term to retirement and anything else that is relevant in line with your aims and objectives.

What can BDFSO really do for me?

Provide independent advice and analysis from the whole of the market where we represent you as our client not the firms or services that we are recommending. We aim to protect you as much as we can in adverse market conditions and within your risk profile make the most of the good times. We aim to do this in the most tax efficient and cost effective manner.

How is BDFSO remunerated?

Via Customer Agreed Remuneration. This means we agree how we are paid, how much and when with you upfront. This can come in different formats from different products so you are giving each option relation to each product to decide prior to any work starting. Fees are fixed upfront with you. Ongoing fees can be varied as time goes on via mutual agreement to reflect changes in your circumstances.

Do you guarantee any rate of return for my investments?

Absolutely not. It is forbidden by the FCA and unethical to do so. Anything in the financial world that seems too good to be true normally is and should be avoided.

Does BDFSO ever hold client money?

Under no circumstances. It is again forbidden by the FCA. We would decline to do so under any circumstances.

Do you have any disciplinary citations against you?

None.

What is your mission statement?

BDFSO’s mission is to work with our clients, their families and friends to help them achieve their financial objectives in the most profitable, tax efficient and relevant way, taking into account their individual circumstances while offering the highest level of professionalism and service.

The BDFSO objective is to make a compliant, ethical profit in doing so.

How many clients do you currently have?

We are currently working with over 200 investment management clients. Our clients include individuals, couples, trusts, and business retirement plans.

Who is a typical client of BDFSO?

A person or a company looking for advice on an ongoing basis and looking to pay a fair market rate for high quality independent advice.

The questions BDFSO advisers need to ask themselves:

  • Why did I become an IFA?
  • Why do I want to work BDFSO?
  • What does working for BDFSO mean to me?
  • What constitutes Independent advice?
  • What is Holistic Financial Planning – a phrase often used in different industries but seldom practiced?
  • Advice of any type is either priceless or worthless? What makes yours worth paying for?
  • Additional services we can provide to our clients outside of our areas of expertise. Joint Venture relationships, legal services introductions etc.
  • Developing our Skills and Qualifications. How, what and why?

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