For too long financial institutions have taken advantage of retail investors through hidden fees and commissions, miss-selling products and high margins. Emotional manipulation and hard sales tactics in some cases have resulted in clients purchasing products with lock-ins and commitments that result in financial loss and emotional distress.
Empire’s approach is unique, we are a truly independent consultancy that can work together with our clients in any currency and any location in the world. We are completely transparent and do not try to push specific funds or investments on our clients. Unlike most financial services we do not make our money from commissions. We work on a success fee basis. If we don’t deliver the results we do not get paid.
Fee vs Free
When you work with a bank or an advisor you will either get “FREE” advice or pay a fee. Although “FREE” advice sounds great you will be compromising on the quality of advice that you will get. When receiving free advice you risk getting advice to invest into assets that are more in the financial interest of the bank or adviser than your own.
Unfortunately the asset management industry was created in a way that incentivizes the sale of investment funds and products. Over the last 20 years this model has resulted in huge commissions being paid to bankers and advisers to promote their products. The huge commissions are built in and hidden into the products that you end up paying for. Not only does this hinder your results by paying large fees for your products and services but it compromises the advice that you will receive. Be aware that free independent advice is probably more like expensive constrained advice.
Think about it: is your bank manager working for you or the bank? Is your independent free advisor recommending funds that are the best for you or that pay them?
No Win No Fee
At Empire we believe that you should only pay an adviser for good advice. Unfortunately, most investors pay their banks and advisers even if they lose money. Empire has a unique approach to Fees that shows just how confident we are at delivering on our promises. At Empire if you don’t make money we don’t make money.
If we do not achieve your minimum benchmark you will not pay our fee
After an initial consultation to assess your investor profile and objectives we will agree upon a minimum target of return known as our benchmark. If we do not achieve your minimum benchmark you will not pay our fee. If we do achieve your benchmark then we charge a flat 0.5% administration fee. If we exceed your expectations we feel we should also be rewarded by way of a performance fee. This means that we only get paid if we meet or beat your expectations and you only pay us with profits we helped you to make. Sound fair? We think so!
About our standard contract
Empire Consulting Group’s standard contract is 0.5% administration fee paid if the client reaches their minimum benchmark performance and a 20% performance fee for every 1% return achieved above the benchmark. The benchmark, administration fee, performance fee and contract length are all negotiable. To understand the way we charge our fees or to discuss alternatives please feel free to contact us.