Banks Wealth Management aims to provide a consistent high standard of service for our existing and new clients. We aim to help our clients to achieve their goals over the short, medium and long term in areas such as personal and family protection, retirement planning, investment and tax planning, estate planning* and house purchase.

Our clients come from many different backgrounds and have different needs. They include business owners, young families looking to protect their income and family from unexpected events, purchase homes and save for the future and retired couples who want to make the most from their savings and pensions and pass on as much as possible to the next generations*.

STEP 1: The initial meeting


We do not charge for our initial meeting. The purpose of this short (20 to 30 minute) meeting, is for you to tell us about your objectives.  If we can help (and we normally can), we will give you more information about our services and charges.

STEP 2: Fact find meeting


Once you have signed our client agreement we can proceed to the first stage of the process proper. For most of our clients we will carry out a full review. This involves getting to know your objectives and circumstances in detail.  From here we can establish a clear picture of the progress you have already made towards achieving your goals and how much further you have to go.

During this meeting (which we would normally expect to last around an hour and a half) we will, where relevant, discuss your attitude to investment risk and outline appropriate solutions to address any identified shortfalls.

STEP 3: Research and analysis


Between the fact find meeting and the presentation meeting there is a great deal of work to carry out in establishing the most appropriate recommendations for you. We may be required to obtain information about your existing plans and investments to establish their ongoing suitability.

Our thoughts and specific recommendations are then input into a suitability report. This report details your circumstances, including family, income, expenditure, tax position, assets and liabilities. The report will confirm your stated objectives in financial advice terms and make detailed recommendations around the solutions outlined at the previous meeting.

STEP 4: Presentation of recommendations


Once your report is ready, a further meeting will be arranged. During that meeting, we will go through the recommendations in detail.

STEP 5: Implementation

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If you are happy with the recommendations, we will help with the completion of any forms and the processing of any applications. Where necessary we will liaise with ceding schemes, product providers and lenders on your behalf.

Thinking Ahead…

STEP 6: Ongoing advice


Most plans will need to be reviewed on a regular basis. This is because people’s circumstances and objectives change, as does the economic and legislative landscape. For these reasons clients often sign up to our ongoing review service at the outset but clients who don’t feel that they need this service initially, can buy it later on an ad-hoc basis.  Our ongoing service will usually include valuations, a face to face meeting at our office, a telephone meeting or skype call.  It may also include advice on rebalancing investment portfolios, switching from fund to fund and various administrative issues. These may include consolidation of tax vouchers, facilitation of encashment or income production and reviewing progress of plans against objectives.

Further information on this as well as details of our charges can be found in our client agreement and Information about our services and costs document (Initial disclosure document). Please get in contact to request a copy.

*The Financial Conduct Authority does not regulate Tax, Trusts and Estate Planning and Cashflow Modelling.