how much does financial advice cost in the uk?

Ed Wilkinson -

The cost of financial advice in the UK can vary depending on the type of advice you need, the complexity of your financial situation, and the adviser you choose. However, there are a few general trends that you can expect when looking for a financial adviser near you.


Initial Consultation

Almost without exception Financial Advisers will offer a free circa 1 hour consultation to understand your circumstances to enable them to see if they are able to assist you & to understand the complexity involved so that they can provide a cost quotation.

Hourly rate

The most common way for financial advisers to charge is by the hour. The average hourly rate for a financial adviser in the UK is around £150. However, this can range from £75 to £350 per hour.

Portfolio-based fees

Some financial advisers charge a fee based on the size of your portfolio. This is typically a percentage of the value of your assets, such as your pension pot or investments. The average portfolio-based fee is around 1% to 2% of the value of your assets.

Fixed fees

Some financial advisers charge a fixed fee for a specific piece of work, such as creating a financial plan or reviewing your pension options. Fixed fees can range from a few hundred pounds to several thousand pounds.

Ongoing advice

If you need ongoing financial advice, you may be charged a monthly or quarterly fee. This fee will typically be lower than the fee for initial advice.

How to find out the cost of financial advice

The best way to find out how much financial advice will cost you is to speak to a few different advisers. Most advisers will be happy to give you a free initial consultation where they can discuss your circumstances and give you an estimate of the cost of their services.

Is financial advice worth the cost?

This is a question that you will need to answer for yourself. However, it is worth considering the potential benefits of getting financial advice which include.

  • Reduced risk of financial mistakes: Financial advisers can help you to avoid making costly mistakes, such as investing in the wrong products or taking on too much debt.
  • Improved financial planning: Financial advisers can help you to develop a financial plan that is tailored to your individual circumstances and goals.
  • Increased peace of mind: Financial advisers can give you peace of mind knowing that your finances are in good hands.
  • Save money on taxes
  • Make better investment decisions
  • Protect your assets
  • Achieve your financial goals

If you are considering getting financial advice, I would recommend that you do your research and find an adviser who is qualified and experienced. You should also make sure that you understand the fees involved before you commit to any advice.


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