What it costs

Ask not what it costs, but what value does it bring

In 2017 The International Longevity Centre in the UK published its findings into the question of “The Value of Financial Advice” with an update published in 2019.

The research concluded that “fostering an ongoing relationship with a financial adviser leads to better financial outcomes. Those who reported receiving advice during a 10-year time period approximately between 2006 and 2016 had nearly 50% higher average pension wealth than those only advised at
the start”.

“Ask not what it costs, but what value does it bring”

It’s as important to me as it is to you that you feel that you are getting value from me as your financial planner.

Given that the provision of financial planning advice is a highly regulated, the cost of my ongoing services may not be viable for people just starting out on their investment journey. For these clients I can offer initial advice on a standalone basis or in combination with cashflow planning.

Initial Advice Only

For clients wishing to set up new pensions or investment accounts, starting with lump sums of less than £80,000, it is likely that an Initial Advice Only service would be more suitable, as a guide the fees are:

New pension
£1,000 (where no existing pension provision)
£750 (where no existing investments, not including Cash ISAs)
Cashflow Planning
£1,000 (standalone), or £750 if taken with one of the advice services for a new product

An Initial Advice only service can also be provided to clients who have the knowledge and experience to execute their own financial plan, but just need help in selecting the right pension or investment product. I also have an hourly rate if what you require is not covered my my standard services.

Initial Advice + Ongoing Service Typical Fee
Between £100,000 and £250,0000 2% initial advice fee
Between £250,000 and £500,000 1% initial advice fee
> £500,000 1% or Fixed Fee to be agreed depending on work required.
Standalone Cashflow Planning: includes a factfind meeting, model preparation, cashflow planning call/meeting & report £1,000 as a guide, though designed and priced around personal needs.
*Up to three different plans. Additional plans will attract a higher fee.

Initial Advice + Ongoing Service

For clients with in excess of £100,000 (in pension or investments), depending on your personal circumstances, I would likely recommend my ongoing service which includes ongoing management of your investments, annual reviews, monthly newsletter, use of client portal and access to advice for ad hoc queries between reviews.

The most valuable element of ongoing financial advice is to keep you focussed on your plan, yes, even when the journey gets tough. It’s a bit like a rollercoaster, but I am here to stop you hitting the eject button when fear sets in. My belief is that financial anxiety can be relieved with education and knowledge and a “pep talk” over the phone or a coffee.

Ongoing Services Accumulation (prior to taking withdrawals i.e. pre-retirement) Decumulation (where taking withdrawals)
Annual Valuation Report (documentation only)
Interim Valuation Report (6 months)
Annual Review Meetings
Ad hoc meetings (as required)
Access to client portal
Cashflow Planning update (annually)
Newsletters (monthly)
Charge p.a. (if both pensions & investments, the higher minimum fee applies) 0.65%
(subject to £750 min)
(subject to £1,200 min.
for pensions, and £750
for investment)

Financial Coaching

I can provide mindset and behavioural support, but if you need more, I refer to a number of Financial Coaches. Coaching can be ground-breaking in helping you move forward with your financial plan, but finding the right coach is vital, which is why I have a little black book of Financial Coaches to find the perfect fit.

If you are interested in Ethical or Sustainable investing I would recommend a “Values Discovery” session with Catherine Thomas Humphreys who offers this service from £195, and promises to bring some clarity to your ethical goals. Learn more about Catherine here.

Hourly Rate

If your needs do not fit into the services above, and you just want an hour or two of my time, my hourly rate is £200. Objectives, desired outcomes and fixed price can be agreed upfront.