Statment of Initial Services

The Corporate Financial Planning Cycle

Although each business is treated individually, the general approach adopted by your Turris Adviser will normally follow the cycle below:


Step 1 - Disclosures about "The Turris Partnership Limited "

At the beginning of dealings with a business client, full disclosure is made from "Turris" in terms of:  "who we are, what we do, how we do it, how it benefits the business, how we are paid and how we update affairs on an ongoing basis".


Completion Timescale:

At the earliest opportunity but no later than our first meeting.


Step 2 (A) - Disclosures from the Client

This involves obtaining all of the appropriate information necessary to allow us to provide the very best independent advice.  The information is recorded on our "Corporate Fact Find" document and is fully available to the client to be checked for accuracy, before proceeding with any transactions.

The "information gathering" process involves agreeing with the client what financial objectives are appropriate both as short term issues and medium/longer term objectives.  Common areas of financial advice for businesses include

  1. Tax efficient profit extraction from the business.

  2. Avoiding business taxes and personal taxes.

  3. Securing financial independence from the business.

  4. Planning to "exit" the business on your terms.

  5. Protecting against disaster scenarios for the business.

Step 2 (B) - Supplementary Information Gathering

During the first client meeting, not all of the necessary detailed information will normally be available.  With a suitable letter of authorisation from the client, Turris can obtain from each product provider, a full technical specification of all of the client's existing arrangements.


Completion Timescale:

Initial information is gathered at our first meeting.  The remaining information is gathered from existing product providers.  Product Provider timescales vary, with some taking a long time.  We do however chase regularly for outstanding information.  In terms of timescales, we would hope to work to 2-3 weeks but this is entirely dependent upon Product Provider turnarounds.


Step 3 - Initial Analysis of Client Information

Once all the initial information and supplementary information has been gathered, the client's existing financial circumstances and resources are analysed to determine whether or not they meet the client's financial objectives. Any gaps in the client's financial profile are highlighted as areas necessary for further research.


Completion Timescale:

Having received "full data"from the Product Providers, we work to a full analysis turnaround of 2 working days.


Step 4 - Research of the Whole Marketplace

Having identified the shortfalls in the client's financial profile, the next step is to create a technical specification of the most appropriate financial solution and then conduct a full research programme of the whole market on behalf of the client.  This ensures Turris recommends the very best possible solutions to its clients.


Completion Timescale:

Having established generic objectives from the analysis of existing arrangements, we aim to complete our research of the whole market for appropriate financial solution within 5 working days.


Step 5 - Prepare Written Report and Recommendations

All of the information and research results are summarised in a written report prepared for the client.  Within the report are the specific recommendations, which are made with a view to achieving the financial objectives agreed with the client.  In the future, this written report helps to act as a reminder for clients as to "what was done and why".


Completion Timescale:

Following our full market research, we aim to issue our written report and recommendations within 5 working days.


Step 6 (A) - Second Client Meeting

During the second client meeting, the written report is discussed to ensure it properly reflects the client's circumstances and wishes.  The specific recommendations are discussed in detail.  After full discussion, Turris will take the client's instructions to implement the recommendations and deal with the completion of documentation.

Step 6 (B) - Processing Client Instructions

Turris will deal with all of the regulatory and company procedures and paperwork necessary to properly and compliantly process the agreed client instructions.


Completion Timescale:

Following receipt of instructions to proceed, we aim to complete our own documentation and processing within 24 hours.  We cannot guarantee Product Provider turnaround times.  However, we will regularly chase Product Providers for completion of their processing.


Step 7 - Issue of Documentation

The documentation produced by the Product Providers is checked for accuracy and then collated for presentation to the client.


Completion Timescale:

We aim to issue the documentation within 2 working days of receipt from the Product Provider.


Step 8 - Agree Next Review Date

Once all of the recommendations have been fully implemented, it is important to review the financial affairs of the business from time to time to ensure the business is still "on target" to achieve the financial objectives.  This review involves returning to Step 1 and repeating the financial planning process.

  [Home] [Up] [About Us] [Impartiality] [Meet the team] [Testimonials] [Contact & Privacy Policy]