UK’s EWS Financial Advisers Discuss Paying High Pension and Investment Fees for Low Performance

November 07 05:51 2019
UK’s EWS Financial Advisers Discuss Paying High Pension and Investment Fees for Low Performance

Executive Wealth Services is a recently formed financial advisory practice based in Edinburgh. Chartered Financial Planner and Managing Director David Garvey said, “We looked back at a sample of ten new clients, of a moderate risk profile, who have come on board in the last 12 months. These clients are saving an average of 40% on the annual fees that they had been charged while also improving their performance by an average of 4% per annum.” 

The central philosophy of EWS Financial Advisers is to deliver positive client outcomes by keeping a keen eye on the costs of investing. “It is our opinion that far too many people in the Edinburgh area are paying far too much for the delivery of their financial planning and we are happy to provide a second opinion free of charge to anyone who may be unsure about the charges on their portfolio and the value produced,” Garvey added.  

Although a modern entity, the company formed from the long-standing client banks of two former financial advisers and a Chartered Financial Planner who had been working together for the last 7 years. 

David Garvey has consolidated his own client bank with that of former advisers Alastair Cuthbert and Alan Shanks. Cuthbert has been a senior industry figure in Edinburgh for many years managing a number of well-known advisory firms across the UK and he retains relationships across that broad geographical area. Alan Shanks’ background was as a senior manager in the NHS both in Edinburgh and Glasgow and latterly provided advice to many Staff on the NHS Pension Scheme in the Lothian Regions. Both now act as introducers to the new business. 

“It’s a great blend of youth and experience,” comments the youthful Garvey, “Alastair and Alan have been there, seen it and done it all over the years so they have been a fantastic help in establishing the business through their extensive contact list, it’s now my job to take EWS on to the next stage and put the processes and technology in place for us to flourish.” 

EWS Financial Advisers is the result of the organic growth that developed through new client engagement coupled with the loyalty of the existing client bank. “We had to take matters into our own hands if we were serious about improving the service offering for our existing clients, while simultaneously increasing capacity to deal with the new clients who were engaging. We were struggling to do that under an umbrella organization,” says Garvey.  

One area that Garvey has been conscious of for some time is the way in which client funds have been moved on. “There have been a significant number of mergers and acquisitions in the financial advice sector over the last few years and this is set to continue into the near future as more advisers retire. Many have sold their businesses and the pay-out from that comes from their clients being placed into particular investment platforms or strategies with charging structures often more suited to the retiree than the client. EWS Financial Advisers would urge anyone who has found themselves in this position to get in touch.”

Beyond industry consolidation, explicit rules around the reporting of the fees for financial advice should mean that clients are wholly informed about their charges. However, some companies are slow to adopt new practices and clients still face difficulties trying to get simple answers to the costs they incur. 

Anyone unsure about what charges and fees they pay, or the value derived from a pension or investment are welcome to contact Executive Wealth Services for a free, no-obligation second opinion.

Media Contact
Company Name: EWS Financial Advisers
Contact Person: David Garvey, Managing Director
Email: Send Email
Phone: +44 131 564 1222
Address:21-23 Thistle Street
City: Edinburgh
Country: United Kingdom