Financial advisers in the UK typically charge for investment and pension advice in one of several ways.
The most common approach is a percentage-based fee on the amount you invest or transfer, usually ranging from 1% to 3%, depending on the size of your investment. If you'd like ongoing support with regular reviews and advice, many advisers charge an additional annual fee, typically between 0.5% and 1% per year.
Alternatively, some advisers work on an hourly rate or agree a fixed fee for their services. Many use a combination of these charging methods to suit different client needs.
Whatever the fee structure, your adviser must agree all charges with you in advance and will only apply them with your explicit consent. Fees are normally deducted directly from your investment or pension fund.
The most common approach is a percentage-based fee on the amount you invest or transfer, usually ranging from 1% to 3%, depending on the size of your investment. If you'd like ongoing support with regular reviews and advice, many advisers charge an additional annual fee, typically between 0.5% and 1% per year.
It's worth knowing that since 2013, advisers have been prohibited from receiving commissions from investment or pension providers when recommending their products. This means your adviser is paid solely by you, helping to ensure their advice is neutral and in your best interests. More details on understanding fees can be found on the
Money Helper website.
