Commission Basis: Free service for Clients: In most cases we don’t charge our clients fees, expenses or anything else directly for the financial advice we provide. 

• As WMLB might receive commission from the product providers upon issuance of business. 

• Clawback charges: Providers/Banks pay WMLB a commission on a percentage basis with a claw back clause of (24-27 months). If the product put in place is cancelled, reduced or replaced within that period.

• If the above event happens WMLB may have to seek reimbursement from the client and that will be disclosed in the terms of engagement prior to commencing any work.

Fees Basis: Only after prior discussion and agreement with clients

The actual fee charged to you will depend on the nature and scope of the advice or service we provide. We will discuss and agree the actual fees with you before we proceed and explain how they are payable before undertaking any work.

Conflicts of interest or other incentives:

We are here for our clients and to advise you as best we can. Your interests are our priority although we do have business relationships with product providers also.

From time to time our product providers assist us with funding so we can bring our advisers together for conferences and professional development training.

How we manage any conflicts of interest:

To ensure our advisers prioritise our clients’ interests: 

• We follow an advice process that ensures our recommendations are made appropriately, based on clients’ goals and circumstances.

• All our advisers undergo annual training about how to manage conflicts of interest.

• We maintain registers of conflicts of interests and the gifts and incentives we receive. These registers are monitored regularly, and additional training is provided as required.

• We undertake an annual independent Compliance Assurance Review.