The structure and process of how we work ensure that we provide a first class service, the first time and every time.

Discovery Meeting

For new clients we have an introductory meeting, which we term a Discovery meeting.  At this meeting we talk about you and what it is you want to achieve working with Lexington.  We explain a bit about our company, how we work and what we do, and sometimes more importantly, what we don’t do!

At the end of the first meeting one of three conclusions happen.  We either part company, say thank you very much but we decide not to work together,  you engage us there and then, whereby you will sign our client agreement which had previously been sent in the post to you to read, or you may want to think about your choice and come back to us at a later date to instruct us.

At the end of the Discovery meeting minutes of the meeting are sent, usually within 24 hours to confirm what was discussed and what had been agreed.

Research

Once you engage our services, we will then go about and research what was agreed.  We will often request information from your existing product providers, and create a template Financial Plan using our Prestwood Financial Planning software.

Prestwood Financial Planning Software is the market leading Financial Planning software for serious Financial Planners and IFAs (Independent Financial Advisers) alike.  It enables the Adviser to maintain electronic information on their clients and create financial scenarios or what-ifs?  No doubt a key part in the Financial Planning process and quite often new referred clients refer to the ‘Blue & Red Graph’ – please refer to the Financial Planning page for details.

Communication is maintained between the Discovery meeting and the Planning Meeting with the Client Account Executives – Nicky and Richard with email and telephone with points of clarification.

Planning Meeting

Planning meetings are either held with Warren Shute CFP - Chartered Financial Planner at our rural offices in Wiltshire, just 5 minutes from Swindon and Wootton Bassett and Cirencester or Colin Mitchell CERT PFS, CERT CII (MP) in or around Guildford, Woking or Weybridge.  This gives you consistency of advice.  Often when new clients join Lexington from Private Banks or larger institutions, a common complaint is that they built a relationship with the adviser, only for them to move on to another firm, leaving the client to start again – wasting the client time and causing frustration.

Planning meetings often take a minimum of 2 hours, giving time for the clients to discuss what they want and ensuring that if products are bought, they are understood.

During the meeting, if the client is facing, under the present circumstances a shortfall of funds in the future, a solution is always given, in such that, based on the present circumstance, we plan that you will never run out of money.

Planning meetings are focused around just that – Planning your financial future, two computer monitors are used, one for the client, the other for the Planner so that clients can relax, plan and make good decisions with support and guidance from a highly qualified and experienced Financial Planner.

And of course, plenty of refreshments are on hand throughout the meeting.

The last point on the Planning Meeting agenda is to ensure a date is fixed for the next meeting.  Quite often clients complain about previous advisers in such that they are ‘sold’ a product and then forgotten about.  Our relationship with you is ongoing and to that how we will work together over the years ahead is agreed and a future Planning Meeting is diarised for 12-18 months dependent on the clients circumstances.

Review Meeting – Ad hoc throughout the year catch up meetings

We have been giving advice to clients for long enough to realise flexibility and responding to the clients needs is paramount.  Therefore in between Planning Meetings, a Review Meeting can be arranged to catch up to discuss investment performance, tax or legislative changes or as a general review.

These meetings are tailored to requirements and take the format which the client wants.

Lexington Remuneration options

We want a long term ongoing relationship with our clients and therefore being clear, fair and not misleading is paramount.

We offer two charging structures;

Fee & Commission

The first and most popular is where Lexington is remunerated on a basis of Fees and Commission.  The level of fee will depend on the service being sought and work being carried out. 

Fee Only

The second option is Fee Only, this is where as a firm we will take no commission on any products and we will charge a fee either as an hourly rate, or a fixed fee.

We encourage clients not to be put off by these statements, we are being open with our clients, which all IFAs should do. The level of fee is agreed before any chargeable work is carried out and confirmed in writing and quite often can be paid from your product rather than your wallet.