How much does financial advice cost?

There is no single UK price for financial advice. The cost depends on the work, complexity, amount being managed and whether you choose one-off planning or an ongoing service.

Common charging structures

Advisers may charge fixed fees, hourly fees, percentages of assets, or combinations. The important comparison is the total amount you expect to pay and what service that buys.

Initial and ongoing charges are different

Initial charges can cover fact-finding, analysis, planning and implementation. Ongoing charges may cover regular reviews, portfolio monitoring, rebalancing and access to advice between meetings. Ask which elements are optional.

Look beyond the adviser fee

Investments may also have fund charges, platform fees and transaction costs. A low adviser fee does not necessarily mean a low total cost, and a higher fee may or may not be justified by a more extensive service.

Ask for pounds and percentages

Percentages can feel abstract. Ask the firm to show the estimated pounds cost in year one and in a typical ongoing year. If the charge is percentage-based, ask what happens as assets grow.

Complex work can cost more

Defined benefit transfer advice, complex retirement planning, trusts, business-owner planning or specialist tax-sensitive work can involve substantially more analysis than a straightforward ISA or pension review.

Price should be compared with scope

Two quotes are only comparable if they cover the same work. One may include implementation and ongoing reviews while another may be for a one-off plan only. Ask for a written scope.

Understand how you can stop ongoing service

Ask what notice is required, whether products remain in place and whether platform or investment charges continue if you stop the adviser service.

The first meeting

Many adviser firms offer an initial conversation without charge, but this is not universal. Confirm what is complimentary and when chargeable work starts before proceeding. Adviser Finder’s own introduction service is complimentary to use.