FAQs about Financial Planning

How long does the Financial Planning process take?

The time taken will vary depending on matters such as third-party requests (such as requesting information from pension providers) and your availability to go through the various meetings/information gathering processes. Typically, three months may be required, reinforcing our view that you should seek advice sooner rather than later.

Do you charge for an initial consultation?

No, we do not charge for an initial meeting. We can provide a significant amount of information to you about our service, investment proposition, costs/charges and other matters, before you are asked to commit. We want you to understand all of the costs and benefits of the service so that you are under no pressure, and accordingly would not charge for the initial discussion(s).

How can I find out more about your investment portfolios?

If you are interested in finding out more about the portfolios we use, we can provide a detailed presentation before you are asked to commit to our service. (Indeed, we recommend that clients take that time to understand how their portfolios are managed). In that, we would cover matters such as philosophy, our process, charges and historical performance.

Is there a minimum value of investment portfolio required?

We do not apply a minimum by default, as we prefer to consider, on a case-by-case basis, the value that can be exchanged by working with a client. We find, however, that the scope to provide value can be limited if the investible/flexible sums available are less than, say, £250,000.

Can you provide a one-off service?

We prefer to work with clients with whom we will have a long-term relationship, because Financial Planning should not be a fire-and-forget exercise. As such, we do not provide a one-off/transactional service.

How do I compare the costs of your service to that of my existing arrangements?

We can assist you with this process and, indeed, we would analyse it as a matter of course. If you are receiving a professionally managed service, you should ask for a ‘Total Annual Cost of Ownership & Transaction Charges’ figure for your plan/portfolio as that should include all ongoing/annual charges. Your existing adviser/investment manager should understand the request if you use that terminology.

How many clients does AAB Wealth serve?

As of January 2022, we serve over 400 families (typically a ‘family’ is a couple, but may include children), with over £450m of funds under our advice.

Do you offer face-to-face meetings?

Yes, and we have offices in Edinburgh, Aberdeen, Glasgow, Leeds and London in which to do so. We do, of course, have measures in place to account for Covid and will follow the guidance relating to that. We can, of course, also offer video call meetings, but do always prefer to meet our clients in person, if practical.