How we work

As Independent Financial Advisers we are free to advise on financial products available from all product providers. We use advanced computer software to research, compare and select the most suitable deals currently available. We are thus able to make arrangements to maximize the benefits to our clients. Our financial planning process has been tried and tested for your financial security in the following stages:

Stage 1 – Initial meeting

When you contact us we will arrange an initial meeting which will usually take place in a relaxed atmosphere at BWM or your home. The meeting involves a fact finding exercise listening to your personal concerns and aspirations in total confidence, to learn about your circumstances and to understand your immediate goals.

Stage 2 – Initial Thoughts Letter

Following the meeting we will send you a letter summarising the facts disclosed at the meeting and providing initial thoughts of how best we can help you to meet your goals.

Stage 3 – Risk Profiling

If you are happy with our initial thoughts, we will begin by determining your attitude to risk – through a risk profiling questionnaire, your required return, capacity for loss and expected length of time you’ll be investing.

The resulting Risk Profile is the model we use to recommend investments and your underlying asset allocation. NOTE: This stage may not be necessary if your goals do not include investing funds, for example for protection products.

Stage 4 – Minimising Tax Consequences

Nobody wants to pay more tax than they need to so this is where we select the right tax wrappers that wrap around your different investment products. This is where our expertise really matters.

Your financial plan may result in a recommendation for a product such as a pension, ISA, Venture Capital Trust, Collective Investment Account, Savings Plan, Enterprise Investment Scheme or Investment Bond.

Stage 5 – Develop Investment Strategy

The fundamentals of investment management are universal but the approach taken will vary from firm to firm. BWM LLP’s approach to client portfolios can be summarised by the following steps.

  • Identification of return required and tolerance for risk.
  • Asset allocation – the correct split between cash, equity, bond and property and the various types of these main classes.
  • Investment fund selection – selecting the most suitable fund managers.
  • Tax wrapper selection – how should funds be held? For example Pension vs. ISA investment.
  • Implementation – the buying of funds and tax wrappers.
  • Monitoring and ongoing management – keeping the portfolio on track. Regular reviews.

Each of these steps is an integral part of designing and maintaining a portfolio that will perform in line with the expectations of a client, in terms of both return and risk, and will therefore allow for financial objectives to be achieved.

Stage 6 – Financial Planning Report

A full financial planning report is produced for you, summarising your personal circumstances, explaining the basis of our recommendations and make sure you understand the investments selected for you and what they are designed to achieve. A summary of our fees and provider charges are included in this report.

Stage 7 – Implementation

Once you are happy with all the recommendations set out in the financial planning report, we will arrange for the completion of all the necessary paperwork in order to set up your investment portfolio and/or policies with the relevant provider. We will store all this paperwork electronically and securely dispose of any paperwork to ensure your data is protected at all times. We will follow through all stages of the application process directly with the provider to completion.

Stage 8 – Review Meetings

We hold regular review meetings to monitor the progress of your portfolio or policies and to review your position to make sure your pensions, investments and savings are performing to suit your current needs. At these meetings we review your investments and suggest any changes that need to be made.