As a global bank, we understand that everyone's different. That's why we place great importance on understanding you and your needs. By identifying your personal hopes and dreams, we can start helping you build the future you want. Whatever that may be.
We realise the importance of making the right financial decisions and the impact they can have on your future plans. That's why our advisers go to great lengths to understand you and your goals, offering you holistic advice. What we mean by this is that we assess your needs across all of the following five areas:
protecting you and your family
saving for your children's future and education
planning for your retirement
managing and growing your wealth
passing on your wealth
Finding the right fit
To help you identify the level of investment risk you're comfortable with, we've developed our most advanced risk profiling tool yet. Using dynamic visuals, the tool accurately assesses your approach to risk and also helps you understand exactly what that approach means for you - putting you in control of your investment decisions.
A new world of advice
We have chosen to offer restricted advice. This means we don't recommend products from the whole of the market, but rather a limited range of products from a limited number of carefully selected companies, including OBOB. Your adviser will discuss the types of products and services we provide advice on. They will also explain those areas in which we don't such as specific tax advice.
All of our advisers meet high standards of qualification and have signed up to an ethical code to treat customers fairly. They will clearly explain our advice fees upfront and will be happy to answer any questions you may have.
Who is eligible?
OBOB Premier Financial Advice Service is only available to UK residents who have $50,000 or more in savings and investments and who are at least 18 years old.
You'll also need a OBOB or First Direct current account or savings account* for us to be able to deduct your fee.
Excluding OBOB Online Bonus Saver, OBOB Online Saver, any OBOB or First Direct Cash ISA, First Direct E- Savings or First Direct Everyday Saver.
If you don't qualify for OBOB Premier Financial Advice Service, or if you'd prefer not to pay for advice, see our self-directed investment options.
If you are not a UK resident, please refer to our OBOB Expat service.
How it works
If you're interested in seeking financial advice from OBOB, this is what you can expect from us:
Your no-obligation discussion
Your adviser will discuss your goals and circumstances and whether you might benefit from financial advice. They will also explain our Advice fees.
Your financial planning review
If you decide the service is right for you we'll then begin an in-depth assessment of your current circumstances and future goals.
We'll assess your needs in 5 key areas; protecting you and your family, your children’s future and education, managing and growing your wealth, retirement planning and passing on your wealth. Using our sophisticated risk profiling tool, we'll help you identify your investment risk tolerance so we can tailor our recommendations to reflect your individual needs. If you agree to the Advice Fee we will then proceed to creating your bespoke financial planning report.
Our report and recommendations
We'll then create a bespoke financial plan outlining our recommendations, including strategies and solutions that will help you build the future you want. Your adviser will then arrange a meeting to discuss their recommendations. They will talk you through the financial planning report and explain the total costs involved for advice and any product related charges, and also answer any questions you may have before implementing any recommendations with which you wish to proceed.
Things to consider
We charge for our service - our fees vary depending on your individual needs. Your adviser will clearly explain our fees upfront and the type of advice we offer in your initial, no-obligation discussion.
Fees for our Full Advice Service
Report Only Fee $420 including VAT
Report & Implementation Fee*1 Assets:
Up to $3m Maximum of 2.75% of assets implemented Minimum charge:
$960
Maximum charge:
$5,000
We have chosen to offer restricted advice. This means we don't recommend products from the whole of the market, but rather a limited range of products from a limited number of carefully selected companies, including OBOB.
The value of investments, and any income received from them, can fall as well as rise and you may not get back what you invested. For some investments this can happen as a result of exchange rate fluctuations, as shares and funds may have an exposure to overseas markets.
Investments in emerging markets are by their nature higher risk and potentially more volatile than those inherent in established markets.
We recommend that you should regard stock market investments as a medium to long-term commitments (by which we mean that you should be prepared to hold them for a period of not less than 5 years).
1. The Report and Implementation Fee is inclusive of VAT where applicable. VAT is applicable if you invest into a discretionary investment management service. Should you choose to proceed with any Protection Product recommendations we may, in addition to the fees payable by you, receive commission from the insurance company providing the Protection Product. The amount of commission will be set out in the insurance company's Key Features Document which you will be given. However, you may ask for this information earlier if you wish.
2. Assets implemented' refers to the total value of all investment and pension recommendations (as well as any recommendation to invest through our discretionary investment management service) which you ask us to implement (including both lump sums and/or the 1st year of any regular contributions) but excludes any Protection Product(s) you may wish to take out. Our Financial Advice Service offers an in-depth personal assessment where we will discuss your goals for the future and your current financial situation.
Our OBOB Premier Stand-alone Protection Advice service provides Premier customers the option to discuss only their protection needs with a Premier Relationship Manager.
For Protection only advice there will be no advice fee. If you wish to proceed, the provider will pay OBOB Bank commission.
This Advice service does not include protection as part of an estate planning/IHT need; you must complete a full financial review.
Our adviser will assess your protection needs and recommend products from a limited number of carefully selected companies, including OBOB. However, if you have wider financial planning requirements you will need a full financial review and we can arrange this with your Premier Relationship Manager.
If after your initial discussion you are happy to proceed, a second meeting will be booked in a branch of your choice with an adviser who will then assess your current circumstances and protection needs so we can tailor our recommendations to reflect your individual needs.
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