What does financial planning cost?
We believe fees should be clear from the outset. Before any work begins, we will explain exactly what we will do and provide a personalised quote for your agreement.
Our charges are split into three stages. You only pay for the services you choose to use.
Your LifeMap
£2,000 – £5,000
Depending on the complexity of your circumstances and the work required. This can include cashflow modelling, pension and investment analysis, retirement planning, tax-efficient planning and a clear roadmap of the actions we recommend.
Putting your plan into action
Implementation is optional and is only charged if you decide to proceed with our recommendations.
We will confirm the exact amount and how it can be paid before any applications or transfers begin.
Ongoing financial planning
First £500,000 invested
1.00% per year
£500,001 to £2,000,000
0.50% per year
Amounts above £2,000,000
0.25% per year
The tiered rates apply only to the portion of your investments within each band, rather than one rate being applied to the full portfolio.
Your ongoing charge will rise or fall as the value of the investments covered by the service changes. You can cancel the ongoing service by giving 28 days notice.
Platform, investment fund, transaction and discretionary management costs, where applicable, are separate from our advice charges and will be disclosed before you proceed.
Examples
Industry studies have historically found that the average adviser charging structure was around 2.4% for initial advice and 1.9% p.a with underlying product and portfolio charges factored in, although actual charges vary significantly depending on the adviser, the complexity of the advice and the services provided.
Investing £600,000
You have two existing pension policies to analyse, and your wider financial and tax circumstances are relatively straightforward.
Your LifeMap will include comprehensive financial planning, detailed analysis of both pension policies and consideration of your tax position.
Your initial charges
Financial planning fee
£2,000
First £500,000 at 1.00%
£5,000
Remaining £100,000 at 0.50%
£500
Total implementation fee
£5,500
Initial cost summary
Financial planning fee
£2,000
Implementation fee
£5,500
Total initial cost
£7,500
Overall initial charge: 1.25% of the amount invested
Optional ongoing service
First £500,000 at 1.00%
£5,000
Remaining £100,000 at 0.50%
£500
Total ongoing charge
£5,500 per year
Effective ongoing charge: 0.92% per year
Investing £1,000,000
You are approaching retirement and have four existing pension and investment arrangements to analyse.
Your LifeMap will include comprehensive financial planning, retirement planning, detailed analysis of your existing arrangements and identification of tax-efficient planning opportunities.