New Path newsletter
A monthly view on the world of investing, where we help explain what’s going on in the financial world without using any jargon!
“When everything changed, Paul gave me stability and reassurance.”
Anne Smith
FAQs
It’s completely natural to have questions when it comes to your financial future. Explore our most frequently asked questions to learn more about how we work and the support we offer.
General enquiries
Where are meetings held?
We aim to be as flexible and accessible as possible when it comes to meeting arrangements. You can choose for us to come and see you at your home or workplace or to meet with us in person at our Worcester office, which is fully equipped for confidential financial discussions and easily accessible by car or train. Alternatively, we can arrange virtual meetings via Zoom or Microsoft Teams for your convenience – perfect for busy schedules or if you’re located further afield.
Do you have parking?
Yes, there is free parking available at our office but it does need to be booked ahead of your visit. In addition, there are several local pay-and-display car parks nearby that we can recommend. For those arriving by public transport, we’re conveniently located just a 5-minute walk from Worcester Foregate Street train station.
Do I have to pay for an initial meeting?
No – your initial meeting with us is completely free of charge and without any obligation. This session is designed to give us a chance to get to know each other, understand your financial goals, and explain how we work. We’ll outline the value we can offer and answer any questions you have about our services and fees. There’s no pressure or sales talk – just an open conversation.
How can I book an initial meeting?
Booking is simple. You can call us directly or fill in the “Contact Us” form on our website. A member of our team will get back to you promptly to arrange a convenient time for your consultation.
What do I need to bring to an initial meeting?
While there’s no need to prepare extensively, it’s helpful if you can bring relevant documents such as recent pension statements, investment summaries, mortgage details, insurance policies, and an overview of your income and outgoings. These will allow us to provide more tailored insights during our conversation. If you’re not sure what’s needed, don’t worry – we’ll guide you beforehand.
How long should I allow for an initial meeting?
We recommend setting aside around 60 – 90 minutes for your first meeting. This allows sufficient time to explore your current financial position, discuss your goals, and explain how our advice process works. If more time is needed, we’re happy to extend the conversation – you’ll never be rushed.
Do I have to sign up to your services at an initial meeting?
Absolutely not. The initial meeting is entirely without obligation. It’s a two-way discovery process to help you decide whether we’re the right fit for you, and vice versa. You’ll have time to reflect, review our terms of engagement, and ask any further questions before proceeding.
Regulatory and professional standards
Are you independent?
Yes – we are a truly independent, whole-of-market financial planning firm. This means we are not tied to any specific providers, platforms, or investment products. Independence allows us to research the entire market and recommend the most suitable solutions for your individual circumstances, without bias or restriction.
Are you regulated?
Yes, we are fully regulated by the Financial Conduct Authority (FCA), which means we are held to the highest standards of professionalism, ethics, and consumer protection.
New Path Financial Ltd is entered on the FCA register under reference 1034112.
New Path Financial Ltd is an Appointed Representative of Best Practice IFA Group Limited, which is authorised and regulated by the FCA under reference 223112.
You can verify our regulatory status at any time by visiting the FCA Register.
Is your team qualified?
Yes. Our founder, Paul Dovey, is a Chartered Financial Planner – the highest level of qualification in the UK financial advice profession. Chartered status is awarded by the Chartered Insurance Institute (CII) and represents a commitment to technical excellence, ethical practice, and ongoing professional development. Copies of Paul’s qualifications are available upon request, viewable on his individual team page, or can be downloaded.
What does being “Chartered” mean?
Chartered status is widely regarded as the gold standard in financial planning. It signifies that an individual adheres to a strict code of ethics, demonstrates a high level of technical knowledge, and continually invests in professional development. Fewer than 15% of advisers in the UK hold this prestigious designation.
Advice services
Can you advise on Final Salary / Defined Benefit pension transfers?
We approach Final Salary (also known as Defined Benefit) pension transfer advice with great care and in line with FCA rules. These types of pensions come with valuable guaranteed benefits, and in many cases, it is not in the client’s best interest to transfer them. Where appropriate, we can assess your situation and refer you to a specialist FCA-authorised pension transfer specialist. If you’ve already received transfer advice, we can help you understand it and provide investment planning support for any transferred funds.
Do you offer one-off financial advice or ongoing support?
We offer both. Some clients prefer a one-off financial plan focused on a specific goal, such as retirement, investing, or inheritance planning. Others opt for an ongoing relationship where we provide regular reviews, portfolio rebalancing, and continuous financial guidance. We’ll help you choose the service model that’s right for you.
Can you advise on sustainable or ethical investing?
Yes, we offer ESG (Environmental, Social, and Governance) and ethical investment options for clients who wish to align their financial decisions with their personal values. We’ll work with you to understand what matters most and construct a portfolio that reflects both your financial goals and ethical considerations.
Do you work with business owners and the self-employed?
Yes. We have extensive experience supporting directors, entrepreneurs, and self-employed professionals. Our advice covers areas such as tax planning, pension contributions through limited companies, protection for your business and family, and strategies to extract wealth tax-efficiently.
Fees and payment
What do you charge for a financial plan?
The cost of a financial plan depends on the complexity of your situation and the scope of advice required. We always provide a clear and transparent breakdown of our fees before we begin any work. There are no hidden charges, and you’ll receive a written agreement outlining all costs.
Do you take a percentage or are your fees fixed?
We offer both options. For some services, such as financial planning or one-off advice, we typically charge a fixed fee. For investment management, we may charge a percentage of assets under advice, though this will always be agreed in advance. Our priority is to provide value for money and fee structures that are fair, competitive, and fully disclosed.
Do you receive commission?
In most areas – including pensions and investments – we work on a fee-only basis. However, if we recommend a regulated insurance product (such as life insurance or income protection), the provider may pay us a commission. If this applies, it will be clearly explained before any decision is made.
Do you charge VAT?
In most cases no we do not, as most regulated financial advice services are exempt from VAT. However, certain non-regulated planning or consultancy services (such as cash flow modelling provided separately from advice) may attract VAT. If this is the case, we’ll let you know in advance and include it in our fee disclosure documents.
When are fees due?
Fees are only payable once agreed upon in writing. For one-off work, payment is typically due on completion. For ongoing services, fees can be collected monthly, quarterly, or annually – either directly or deducted from your investment holdings (subject to provider terms).
Can ongoing advice fees be paid from my investments?
Yes, if your investment provider allows it, we can arrange for ongoing advice fees to be paid directly from your portfolio. This helps with cash flow and is often a tax-efficient way to cover the cost of professional advice.
What clients say
Hear from those we’ve helped
Discover how working with us has shaped our clients’ lives for the better.
Our success stories
Production