What is it?
Traditional personalised financial advice from a known individual. Your adviser will work with you to create a tailored financial plan for you and your family, making sure that everything is set up well and helping with your holistic financial affairs.
In recent years, professionalism has jumped and there are some seriously good financial planners out there who can save you £1000s and give you invaluable peace of mind. This route is particularly worth considering for pensions or more complicated stuff where mistakes can be really financially damaging. Probably not needed for those in their 30s and 40s with pretty simple needs, who just need to sort an ISA and a pension.
Read more about what they actually DO here!
This is not the cheapest route. Expect to pay between about 1.5% and 2.5% a year all-in for admin, investments and advice. You may also look for a firm which will accept a project for an hourly fee – this can range from about £150 an hour to £300 an hour. Finally more firms are offering a fixed £ fee for a specific task or need – so do ask if this in an option.
Have a look at our Find An Adviser table. You can read the answers our advisers have given to reader questions and get a feel for what they’re like. Filter our table to look for a female adviser, a fixed fee adviser, any given qualifications or specialism, or simply our reader likes and client reviews.
Most advisers will book in a free introductory call and don’t be afraid to ask for a very clear indicator on their charging structure and /or other client reviews.
We do our best but the presence of an adviser in our tables does not mean they come with a recommendation from us, although we do check they are all registered with the FCA (regulator).
If you really could use some help or financial advice, tailored for you, and prefer to talk to a human and not tap numbers into a computer screen BUT but you can't quite stomach higher or ongoing fees every year, there are a few cheaper options in town.
DIY investment platform Hargreaves Lansdown also employs 72 financial advisers who have a range of fixed-fee advice packages, starting from £495 for telephone advice or £1,495 for face-to-face advice. Their advisers will help you to meet your financial goals, save and invest for retirement and build or amend your portfolio depending on your aims and circumstances.
Robo adviser Nutmeg also offers a more traditional financial planning service - costs start from £575 where you can speak to a qualified financial adviser. You will get an in-depth review of your current financial situation and regulated investment, pension and tax planning advice.
Finally if you are younger, with pretty straightforward affairs and not particularly minted, check out financial coaching which can feel pretty personalised, chatty and informative – but ultimately leave the decisions up to you.