Our fees
We believe in charging a fair fee for the work we do. For this reason, we have decided to echo the transparency of our approach and disclose our fees online.
This also differentiates us from other financial advisers and planners. Research shows that only 1 in 20 disclose their fees online.
We believe that financial planning adds immeasurable value to our clients; helping them to achieve their hopes and dreams. In fact, our clients have even let us know how much they value the work we do. You can read their stories here.
In addition, it’s important to note a growing body of research which shows the value of financial advice and planning.
The fees we charge will depend on the complexity of your personal situation, as well as the existing pensions and investments you hold.
Our initial advice and recommendations are charged on a menu basis, as detailed below.
A 2017 report by Royal London and the International Longevity Centre showed that, on average, people who work with a financial adviser boost their assets by up to £43,245.
A study by Vanguard identified seven key areas where advisers can add value, estimating values for each area. The total sum was discovered to be around 3% per annum.
Initial meeting
The initial meeting is at our expense. As part of this meeting, we will discuss the work we will undertake on your behalf and provide you with an estimate of the total fees.
Preparation of a full financial plan
Includes:
- Exploration of personal and financial goals
- Preparation of a lifetime cash flow plan
- A risk profile analysis to inform future investment decisions
- Exploration and discussion of different options and scenarios for your future
- Review of one existing arrangement (for example a pension plan), with additional arrangements charged separately
- Identification of any shortfalls in funding for your future life plans
- Recommendations to improve your likely financial future
- A written report to cover and explain every element
Cost: £2,250
Review of existing plans and recommendations
Includes:
- A full review of existing arrangements to ensure they are suitable to help meet your goals as established in the financial plan. This will include a review of the current funds against your risk profile, plan costs and any specific plan features.
- Recommendations to retain the plan if suitable, change investment funds within a current plan or to transfer to a new plan and funds if required
- Research of the whole of the market for the appropriate new plan and investment funds in line with your financial goals and risk profile
- Administration to complete applications and ensure any changes or new plans are put into place
- Written reports to cover and explain every element
Other types of pensions or investments such as Venture Capital Trusts may be more complex and carry an additional cost.
Pensions:
For personal pensions, SIPPs¹ and SSAS², excluding those with non-standard investments
Cost: £400 for the first plan (unless included in the financial planning fee), plus £300 for each subsequent plan
Investments:
For ISAs³, investment accounts and investment bonds
Cost: £350 for the first plan (unless included in the financial planning fee), plus £250 for each subsequent plan
Protection/insurance:
For Life Cover, Critical Illness Cover and Income Protection/Permanent Health Insurance
Cost: £150 per plan review only (unless included in the financial planning fee). £400 to review and recommend a new plan if required.
¹Self-Invested Personal Pensions
²Small Self-Administered Schemes
³Individual Savings Accounts
Recommendation for a new pension or investment
Relevant if there are no existing plans to be reviewed but a new investment, pension or protection policy is required.
Includes:
- Research of the whole of the market for the appropriate new plan and investment funds in line with your financial goals and risk profile
- Administration to complete applications and ensure any changes or new plans are put into place.
- A written report to cover and explain every element
If an investment plan is jointly owned, only one fee will be charged. If they hold the same plan, but there are different investment funds within that plan, the fee will be discounted.
Cost: £250 per plan
Fee examples
Example 1: Approaching retirement
You’re approaching retirement and want to understand how your current arrangements will provide for you.
You will require the preparation of a full financial plan. You also have two existing pensions and an ISA to be reviewed.
| Full financial plan: | £2,250 |
| First pension review: | £0 (included in the preparation of the full financial plan |
| Second pension review: | £300 |
| ISA Review: | £350 |
| Total | £2,900 |
If the total value of the pensions and investments is £250,000, this represents 1.16% of their total value.
Example 2: Making a new investment
You have inherited £300,000 and want to invest. You have no existing pensions or investments.
| Preparation of a full financial plan: | £2,250 |
| Recommendation for a new pension plan: | £250 |
| Recommendation for a new investment plan: | £250 |
| Total | £2,750 |
This represents 0.92% of the amount to be invested.
Example 3: Planning for your future retirement
You want to take retirement saving more seriously. You have a small pension of £25,000 and can afford to pay £300 per month into it.
| Preparation of a full financial plan: | £2,250 |
| Review of current pension: | £0 (included in the preparation of the full financial plan) |
| Total | £2,250 |
This would represent 9% of the current pension value.
Ongoing review service
Our ongoing service will provide you with:
- Structured reviews to give you peace of mind
- Assessment of your circumstances and any changes to your plans that are needed
- Regular updates and information regarding your holdings
- A choice of differing levels of support depending on your needs
- Ongoing support with correspondence and administration issues
Cost:
Our costs use a tiering system, are dependent on the frequency of review you require and are based on the value of your investment(s) at each 12-month anniversary.
| Total funds invested | Percentage charge of amount |
|---|---|
| £0 – £250,000 | 0.8% |
| £250,001 – £500,000 | 0.7% |
| £500,001 – £1,000,000 | 0.6% |
| £1,000,000 plus | 0.5% |
Service levels
| What we will provide: | Level 1 | Level 2 | Level 3 |
|---|---|---|---|
| Review frequency | Half-yearly | Annually | Annually |
| Review and update your personal objectives and any changes in your circumstances | Yes | Yes | Yes |
| Review and update your personal financial plan and cashflow projections accordingly including recommendations to keep you on track | Yes | Yes | Yes |
| Taxation planning for you and your business including making use of tax allowances including any changes to taxation | Yes | Yes | Yes |
| Review of investment structures to ensure your investments are held in the most tax-efficient manner | Yes | Yes | Yes |
| Review of your selected Risk Profile |
Annually
|
Bi-annually
|
Bi-annually
|
| Professional expertise and governance embedded into our investment processes | Yes | Yes | Yes |
| Review the investments held and asset allocation to ensure they align with your long-term financial plan | Yes | Yes | Yes |
| Update and rebalance the existing portfolio | Yes | Yes | Yes |
| Annual Statement of Holdings | Yes | Yes | Yes |
| Ongoing access to your financial planner for any questions you may have | Yes | Yes | Yes |
| Ongoing access to our support team for any administration issues | Yes | Yes | Yes |
| Liaison with accountant/solicitor (if required) | Yes | Yes | No |
| Dealing with Trust arrangements | Yes | Yes | No |
| Estate planning | Yes | No | No |
| Support for adult children | Yes | No | No |
| Subject to a minimum charge of: | £5,000 | £3,000 | £1,200 |
Ongoing fee examples
Example 1
Your investments are valued at £600,000 and you select service Level 1.
At 0.6% the ongoing management fee we would receive is £3,600.
As this is less than the minimum ongoing service fee for this service level, we would charge you £1,400.
The total fee payable would be £5,000 per annum.
Example 2
Your investments are valued at £50,000 and you select service level 3.
At 0.8% the ongoing management fee we would receive is £400.
As this is less than the minimum ongoing service fee for this service level, we would charge you £800 as the balance.
The total fee payable would be £1,200 per annum.
Example 3
Your investments are valued at £150,000 and you select selected Level 3.
At 0.8% the ongoing management fee we would receive is £1,200.
As this meets the minimum ongoing service fee for this service level no other charges would be applied.
