You’re paying your IFA for their expertise in the financial market, and their advice will be beneficial when making difficult financial decisions. By helping you understand your finances, the advice you receive can provide excellent value via the peace of mind will can bring to you and your family in the long term.
As we work with independent financial advisors all over the country, there’s no fixed pricing structure - individual advisors will set their own rates based on their specialisms and level of experience. All the IFAs we work with are part of the Financial Advisor Network. They are monitored carefully to ensure that the prices they quote are realistic and reflect the value of the service you will be receiving. Fees will always be agreed in writing before you make a commitment to any product or service. There are a few different ways in which an IFA might set their fees:
You pay for the amount of time you spend with the financial advisor – generally between £75 and £250 per hour, depending on factors such as the type of advice provided, the seniority of the adviser and their location.
If you’re looking for assistance in managing your investment portfolio, your IFA might charge based on a percentage of the sum being handled – usually at a rate of 0.5% - 5%, with the percentage often lower for larger amounts. For example, if you were to invest £100,000 at a fee of 1.5% you would pay your advisor £1,500.
Some services will be priced at a fixed fee: usually one off ‘transactions’ – such as consolidating your pension or making an investment. As with hourly fees, these charges will vary per advisor and will be quoted in advance of you making a purchase or commitment.
In some instances, your IFA may earn commission based on the products and services they recommend to you. Our IFAs are required to be totally transparent about the amount of commission they may receive, and will work in your best interests to only recommend products that are suitable for you.
The best way to get a personally tailored quote from an IFA is to discuss your financial needs in depth. We can arrange a free, no obligation consultation with an IFA in your area so you can set out your goals and priorities, get the answers to any questions you might have, and give your advisor the opportunity to explain how they can help: providing a detailed breakdown of any associated costs. The charges will depend on exactly what you are hoping to achieve and the resources the IFA will need to meet your objectives combined with their experience.