The value of advice
What we charge for
Initial charges
These are the fees for providing your initial advice, or for providing any new advice outside of the monitoring of your financial plan.
Ongoing charges
These are the fees we charge for keeping your financial plan under review and providing you with an ongoing service..
How we charge for our advice services
Most commonly, our fees are based on a percentage of the amount we invest on your behalf. From time to time, and depending on your needs, we may charge an hourly rate. Occasionally, we may receive commission that is paid directly to us by your provider, usually for things like an insurance policy.
Your exact fees will be agreed with you, in writing, when we’ve had the opportunity to meet with you and discuss your requirements. We believe this is the most fair way of charging for our services.
Measuring value
Just as your goals and ambitions in working with us will be entirely unique to you, so the ways you measure “success” will also be your own. It could be gaining peace of mind, making cost savings, or seeing your investments grow.
In our 2022 client survey, we asked our clients to tell us in their own words what they see as the biggest benefit of working with us.
Here’s what they told us:
- “Peace of mind knowing someone will have an answer to my question.”
- “Knowing that my finances are being managed by someone more qualified than me and who knows how the markets operate.”
- “Peace of mind that our finances are being taken care of in the best possible way.”
Also, 97% of our clients believe that working with us has helped or will help them to achieve their financial goals.
Quantifiable value
Some benefits of financial planning are difficult to measure – for example, peace of mind, confidence about the future, and a sense of security.
Other measures are easier to quantify, however.
Some of our clients benefit from the recommendations we provide, which result in reduced costs and fees on their investments and other financial products. Other clients benefit from tax efficiency measures we put in place that reduce or eliminate previously costly tax liabilities.
Our holistic financial planning and wealth management work enables other clients to realise greater long-term returns on their investments and pension funds. In turn, this allows them to achieve goals they never thought possible before, such as retiring early, funding university or private education for younger generations, or going on bucket-list adventures and seeing the world.
What does the research show?
There’s plenty of research to show that taking financial advice adds value to people’s financial circumstances in the long run.
A study by ILC UK looked at two groups of people to see if they were better off with or without advice. The first group were “affluent” and the second group considered themselves “just getting by”.
Those who took financial advice in both groups ended up with an average increase in their wealth of more than £47,000.
Of course, nothing in life is a certainty. But financial planning is about defining what your goals are and then ensuring you are as well-equipped and well-positioned as possible to achieve them.
The cost of bad advice
Not all financial advice is equal. Poor advice can end up costing you dearly, which is why it’s important to find a firm you can trust when looking at your options.
