FAQ – Frequently Asked Questions

General Questions

1How Independent are you?
We are fully independent! This means our team makes recommendations that are in your best interests, and we're not tied to a single provider. There are no corporate shareholders and therefore HL advisers select products and services from a much wider range of financial institutions than you would find if you went directly to a bank or tied-agent. View some of the providers we have previously worked with.
2What is your consultation fee?
There is no charge for your initial consultation and you are under no obligation to follow any of our recommendations. In the event that you do choose to follow any of our recommendations, we would provide you with an illustration clearly showing what commission would be generated for HL, which would then be passed on to your adviser. If we have conducted a substantial amount of research we may ask you to pay a flat fee for the cost of the reports. For full details of our fees please visit our Costs & Process page.
3Why not use my bank?
We can recommend a variety of companies that have been specifically chosen because of their strength in product or service. It is unlikely that a bank will make a recommendation away from their own products, whereas we can search the whole of the market from 1000's of product providers. Also, the rates offered by banks are not always the most competitive and the prices you can expect to pay are expensive for the level of service you are getting.
4How can I become a client?
Contact us through our website or by phone or email and tell us about your current financial situation, what you are looking to achieve and if there are any specific issues you would like us to address. We will then invite you in for an initial consultation with one of our financial planners, which usually lasts between half an hour and an hour. If you decide you would like us to manage any existing policies or set-up a new policy, we can communicate on your behalf with providers, while keeping you informed of any changes.
5Why should I pay for financial advice?
Financial Advice has never been free. Paying for high-quality professional financial advice can ensure that you have a strong financial planning strategy by protecting and growing your wealth. Professional financial advice will take into account your attitude to investment risk, the amount of money you have to invest, how long you have to invest the money and whether or not you need an income. Without professional financial advice, you could risk making costly mistakes. To learn more, click here to view our Guide to Professional Advice
6What is the minimum portfolio size?
We do not have a minimum investment amount, however, as you will see from our Costs & Process we recommend different solutions depending on the total amount you have invested with us. While we have an initial fee of 1.0% on Managed solutions, we charge a minimum of £100. If you were looking to invest £5,000 this may not be a cost-effective solution for you, and we will make you aware of this before proceeding. We would instead recommend our online advice offering which has no upfront fees and you can begin investing with just £1,000. For more information please click here or visit https://hlfinancial.mypfp.co.uk/planningandadvice
7Can I view my investments online?
Yes! All of our clients have access to our Personal Finance Portal which provides you with valuations (daily or weekly, depending on your investment provider). Once logged in you can also breakdowns of the funds you're invested in, including individual fund performance and ratings. Our Personal Finance Portal is packed full of features, find out more here.

Investment Questions

1Can I make withdrawals?
Yes, most providers let you go directly to them, but we are also happy to process a withdrawal for you (we never charge clients for making withdrawals!). If you have other investments account like a General Investment Account we would recommend taking your income from there before withdrawing funds from a tax efficient account.
2How long do withdrawals take?
Unlike a Cash account, the funds within your investment have to be sold down before they can be paid out as cash. This means the process is rarely complete overnight. However, the providers we work with are usually able to pay withdrawals out within 4-10 working days. Whenever you request a withdrawal we will make you aware of all timescales.
3How much can I pay into an ISA?
In a single year (2017/18) you can pay in a maximum of £20,000, however, you can transfer in any existing pensions you have to consolidate funds and charges.
4What is diversifaction?
Diversification means holding a range of assets to help spread investment risk. Find out more here.

We'll happily provide you with a free no obligation comparison of any existing policies you have!