Sussex Retirement Planning Ltd

Key Facts About Our Services and Costs

  1. The Financial Conduct Authority (FCA)
  2. The FCA is the independent watchdog that regulates financial services. This page is designed by the FCA to be given to consumers considering buying certain financial products. You need to read this important page. It explains the service you are being offered and how you will pay for it.


  3. Whose products do we offer?

  4. Investment

    Please refer to section 3 of this page.


    Insurance
    • We offer products from a range of insurers for Term Assurance, Mortgage Protection, Critical Illness, Income Protection & Private Medical Insurance.
    • We only offer products from a limited number of insurers for Term Assurance, Mortgage Protection, Critical Illness, Income Protection & Private Medical Insurance.
    • We only offer products from a single insurer for Term Assurance, Mortgage Protection, Critical Illness, Income Protection & Private Medical Insurance
    Home Finance Products
    Lifetime Mortgages, Mortgages & Equity Release Products
    • We offer lifetime mortgage, regulated mortgage contracts, home reversion plans and equity release products from the whole market.
    • We only offer lifetime mortgages, regulated mortgage contracts, home reversion plans and equity release products from a limited number of lenders.
    • We only offer a limited range of lifetime mortgages, regulated mortgage contracts, home reversion plans and equity release products from a single lender.
    • We do not offer lifetime mortgages, home reversion plans and equity release products.

  5. Which service will we provide you with?

  6. Investment
    • Independent advice – We will advise and make a recommendation for you after we have assessed your needs. Our recommendation will be based upon a comprehensive and fair analysis of the market.
    • Restricted advice – We will advise and make a recommendation for you after we have assessed your needs, 7 but we only offer advice on limited types of products, or products from one company or a limited number of companies.
    • No advice – You will not receive advice or a recommendation from us. We may ask some questions to narrow down the selection of products that we will provide details on. You will then need to make your own choice about how to proceed.
    Insurance
    • We will advise and make a recommendation for you after we have assessed your needs for Whole of Life Insurance, Term Assurance, Mortgage Protection, Critical Illness, Income Protection & Private Medical Insurance.
    • You will not receive advice or a recommendation from us for Term Assurance, Mortgage Protection, Critical Illness, Income Protection & Private Medical Insurance.

  7. What will you have to pay us for our services?

  8. Investment

    You will pay for our services on the basis of the summary provided below. We will discuss payment options with you and answer any questions you have. We will not charge you until we have agreed with you how we are to be paid.

    Non-Advised Services

    Where you retain our services to handle a specific transaction on your behalf, but without the requirement for advice, we will charge you a single fixed-fee for such a service, which will be disclosed in our Client Agreement. Your signature of this Agreement is our authorisation to proceed with that transaction.

    Advised Services

    The charge for our services is partly related to the expertise of the adviser, and partly to the nature of the service that you require from us. A fuller explanation is contained within our Client Agreement, and we will in any case tailor our service (and charge) to the needs and circumstances of each client. The following table provides a summary of the main options:

    1. Reviewing your existing pensions and investments whilst you are building up funds for retirement, and making recommendations to increase your resources for retirement – £5,000 plus (if the arrangement requires annual reviews) 0.75% per year of the value of your investments and pensions, subject to a minimum of £500 per month.

    2. Withdrawing funds from your pensions and investments, if you do not already have a Retirement Plan with us – £3,000, plus (if the arrangement requires annual reviews) 0.75% per year of the value of your investments and pensions, subject to a minimum of £300 per month.

    3. Ongoing management of your investments, pensions and life insurance policies as part of your Retirement Plan – 0.75% per year of the value of your investments, pensions and life insurance policies, subject to a minimum of £200 per month.

    4. Ad-hoc, hourly-costed work – charged at £250 per hour.

    5. We offer a range of payment options including:

      • Settling your adviser charge through a single payment: Invoice plus payment by client within 30 days of receipt on completion of work. Whether you buy a product or not, you will pay us an adviser charge for our advice and services, which will become payable upon completion of our work. This can be paid by bank transfer, or by cheque.
      • Settling your adviser charge by instalments: Where no ongoing service is being provided, and only where regular premium products are recommended, we offer the facility to pay by instalments through your recommended product.If you buy a financial product, you can choose to have your adviser charge deducted from the product through instalments. Although you pay nothing to us up front, that does not mean that our service is free. You still pay us indirectly through deductions from the amount you pay into the product. These deductions will pay towards settling the adviser charge. These charges could reduce the amount left for investment. If you select this method of payment, we will detail the terms in our Client Agreement.
      • Paying by deduction from your product: An agreed charge to be deducted from the product, and paid to ourselves by the product provider, rather than your writing us a cheque.
      • Payment for ongoing services: Annual retainer paid to our firm out of the product in order to pay for annual review services. You can also pay our fees by standing order.

    Insurance
    • A fee of £5,000 for advice and implementation in relation to the types of products and services listed under point 3.
    • No fee for advice and implementation in relation to the types of products and services listed under point 3.

    You will receive a quotation that will tell you about any other fees or commissions relating to any particular insurance policy.


  9. Who regulates us?
  10. Sussex Retirement Planning Ltd is an appointed representative of ValidPath Ltd, Unit 16, The Globe Centre, Wellfield Road, Cardiff CF24 3PE, which is authorised and regulated by the Financial Conduct Authority. ValidPath’s FCA Register number is 197107.

    ValidPath’s permitted business is investment, protection, pensions and mortgage intermediation. Sussex Retirement Planning Ltd is regulated in the United Kingdom. You can check this on the FCA’s Register by visiting the FCA’s website or by contacting the FCA on 0800 111 6768 (freephone) or 0300 500 8082 from the UK, or +44 207 066 1000 from abroad. They are open Monday to Friday, 8am-6pm, and Saturday 9am-1pm

  11. Loans and ownership
    • P Wise Ltd owns 80% of our share capital
  12. What to do if you have a complaint

  13. If you wish to register a complaint please contact us:

    …in writing

    Write to ValidPath Ltd, Complaints Department, Unit 16, The Globe Centre, Wellfield Road, Cardiff CF24 3PE

    If you cannot settle your complaint with us, you may be entitled to refer it to the Financial Ombudsman Service.

  14. Are we covered by the Financial Services Compensation Scheme (FSCS)?

  15. We are covered by the FSCS. You may be entitled to compensation from the scheme if we cannot meet our obligations. This depends on the type of business and the circumstances of the claim. Here are some typical examples:

SchemePossible Compensation
Investment Most types of investment business are covered up to a maximum limit of £85,000 if the firm failed after 01/04/2019. If the firm failed between 01/01/2010 and 31/03/2019, the maximum limit is £50,000.
Deposits £85,000 per person per firm (for claims against firms declared in default from 1st January 2017). For joint accounts, up to £170,000 is covered.
Insurance Insurance advising and arranging is covered for 90% of the claim, without any upper limit. For compulsory classes of insurance, insurance advising and arranging is covered for 100% of the claim, without any upper limit.