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Cost of my advice

Financial advice costs, it costs just as you pay for your car to be serviced, or your house costs to be decorated.  One thing that puts people off taking financial advice is the cost (or rather, the excessive and opaque nature of it). So, this is what I’m doing for my investment and retirement planning service from April 6 2016. I’m going to tell you upfront what you’re going to be paying.

You may choose to pay;

  • Hourly
  • Flat fee
  • Percentage based.

If your needs are straightforward, I will charge a flat fee of £585 for researching, choosing, recommending and establishing an investment portfolio for you.

If we decide that you need a pension, I will charge you a further £385 for doing the same. If you want both for yourself and the same for your partner, the upfront cost to you of my advice, therefore, is £1,940. If your needs are ‘complex’ and if you want a flat fee service, the sum for each product rises from £585 to £885. I have never had a client yet who is complex. What is ‘complex’? Tracking down endless lost pensions, rewriting a plan more than a few times, contending over time with an unresponsive client, that sort of thing.

If you then wish me to help you manage your investments, the amount you pay me (each year) may be either be a flat fee of either £585 per annum per wrapper (Investment ISA, Personal Pension etc) or 0.34% per annum of the value of each holdings (for our ‘light touch’ service) or 0.85% per annum (for our ‘hands on’ service) – you decide what’s best for you. 0.85% works out at (for instance) £850.00 per annum if your portfolio is worth £100,000 or £85.00 per annum if it’s worth £10,000.

If you wish to pay hourly, my rate is £135 per hour. We can discuss your options before we start.  We offer a choice of payment options that we think represent good professional value for money.  Before you embark on this journey, consider that you really want to achieve something that you think we can provide.  If you want a restricted (ie, not independent) service that allows you to make more of your own decisions, services like my own Fiver a Day proposition are also available. Those costs and charges are also explained quite clearly, here.  This service may prove more suitable for clients with smaller amounts to invest.

Please bear in mind too, that in addition to the cost of my advice, there is a product/fund charge. For most clients, passive funds are fine – that cost can be somewhere in the region of an additional 0.5% per annum subject to confirmation and suitability. This may, or may not, include the cost of using an investment platform for you (that’s a tool intended to simplify and streamline things).

We do not accept insistent client or execution only mandates.  We do not manage only parts of a portfolio.  I only advise UK based clients or crown servants working overseas.  I reserve the right to decline clients, or defer service until I am better placed to offer service.  This might be if I have a waiting list of clients or an excessive workflow.  The service relies on prompt responses and timely cooperation from clients.  This service is a limited scope service and is not suitable for intricate planning needs, or for helping clients in drawdown.  For full details and terms, get in touch.

If I can help, I look forward to hearing from you.