Fees

Schedule of Services and Fees

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Hands on Compliance Limited aims to deliver a simple, flexible and cost-effective range of services to the Financial Advice community. All fees will be calculated in accordance with our published charging policy.

The cost of service will always be confirmed by way of a Letter of Engagement, a signed copy of which must be returned before any work is undertaken. The Letter of Engagement together with the provisions set out within our Terms and Conditions of Business form the basis of our working agreement.

The fee based services provided by Hands on Compliance Limited are NOT currently subject to VAT. This valuable benefit is something we hope to maintain until 31 December 2019

Travel and other expenses will NOT be charged unless agreed in advance.

Example one-off services subject to daily rate

Cost

Annual compliance audit Defined Benefit Transfer training MiFID compliance audit PROD compliance audit Client file reviews T & C audit Senior management arrangements & SYSC audit (including SM&CR readiness) Annual compliance training and testing Annual financial crime training and testing Implementation of annual compliance monitoring plan Advice process review (including DB transfers) Past Business Reviews

£700 per day (excluding Central and Greater London) £920 per day (Central and Greater London only) Fees will be fixed at outset based on total estimated work days needed to conclude the work programme. Any overrun is absorbed at our expense.

Core ongoing service categories	Cost
Client file reviews only Client file reviews and annual compliance audit Client file reviews, T & C and annual compliance audit Client file reviews, T & C, full SYSC and annual compliance audit*	Costs are based on the estimated number of work days required to deliver the service over a 12 month period.

* This service is suitable for firms who wish to outsource day to day compliance, T & C and full Systems and Controls oversight arrangements in order to focus internal resource on operational demands. Rather than provide guidance for firms to observe, this is very much a hands on service whereby the compliance work is done on your behalf with supporting MI to demonstrate progress against an agreed annual schedule of activity. This service is offered to article 3 MiFID exempt firms only. This service requires a weekly visit frequency, as such it is only made available to three firms at any one time.

Pension Transfer Specialist/Defined Benefit Occupational Pension Transfer Services	Cost
Pre-advice case checking (Does not include formal PTS sign off)	£500 per case (involves: checking of all KYC information, member specific and scheme information, TVAS inputs/results and suitability letter)
TVAS calculations – (Selecta Pension software) Fees contingent upon provision of: relevant KYC date full details of member benefits and scheme information Personalised illustration for intended recipient contract inclusive of initial and ongoing advice fees, investment solution and where applicable platform costs (Does not include formal PTS sign off)	£500 – TVA and supporting commentary to inform your advice £850 – As above plus client specific Deferred Benefit Analysis. This is a personalised 14 page document providing factual overview of scheme benefits and features compared with a money purchase alternative £2,000 – As above plus full suitability report. (two stage process involving): TVA and supporting personalised Deferred Benefit Analysis document that delivers a factual comparison of benefits; followed by Full suitability report and advice
Registered Pension Transfer Specialist (CF30) Includes: submission of FCA Form A and supporting documentation for CF30 authorisation variation of firm’s Part IV Permission where required implementation of operational and advice procedures in support of your application provision of associated staff training ongoing support and guidance (Does include formal PTS sign off)	Submission of FCA Form A £250 Submission of FCA Form A and varying firm’s Part IV permission £1000 Service retainer charged at £200 per month Individual Case Fee Linked to size of CETV and subject to a minimum fee of £3,000 per case. Calculated on the following tiered basis: £0 – £500,000 0.6% £500,001 – £1,000,000 0.5% £1,000,001 – £2,000,000 0.4% £2,000,001 > By agreement Example 1. CETV £250,000 – Minimum fee applies i.e. £3,000 Example 2. CETV £500,000 – Fee payable £3,000 (i.e. £500,000 x 0.006) Example 3. CETV £1,000,000 – Fee payable £5,500 (i.e. £500,000 x 0.006 + £500,000 x 0.005) Where advice is not to transfer, the fee payable is that applicable to provision of TVAS or TVAS plus Deferred Benefit Analysis document as quoted above (i.e. £500 or £850 respectively).
PTS locum cover	£by agreement

Example services subject to fixed fees	Cost
Pre-advice file checking	£100 per recommendation £150 per recommendation higher risk activities (excludes Defined Benefit Pension scheme /Safeguarded Rights transfers)
Complaint handling – cradle to grave service Includes: acknowledging complaint & P I notification gathering of data from relevant parties investigation of concerns in accordance with DISP drafting of response, liaising with interested parties/PI insurers provision of requisite info to FOS and subsequent representations in support of defence	£1,500 flat fee per complaint.
Observed client meetings and associated documentation/feedback	£300 per assessment. Includes pre and post observation briefing and written feedback
GABRIEL Returns single queries sanity check and feedback completion of return	£65 £200 £300