Are my adviser fees too high?

08 December 2021

Question by Kate

I am a 53 y/o female and have sought independent financial advice for my pensions. The advisor seems sound but the initial fee he is proposing to implement the advice for £400k pot is £12k plus ongoing annual %. This is likely have a negative impact on my yield based on his figures unless his management provides better return than he can promise. Am I better off not to accept his ongoing management and implement his advice myself? The figures just don't make sense.

Answered by Boring Money

Hi Kate,

With regards to your question regarding fees, we operate a fixed fee service as we believe that you should not penalise people with high net wealth by operating on a percentage cost basis as this means they pay more due to their wealth. For us, we believe this is unfair. The fixed fee we offer depends on whether your pension is a defined contribution, or a final salary pension (defined benefit). I can confirm that with either pension type you have, our fees would be dramatically cheaper than that you have already been offered.

If you would like me to arrange for you to discuss your requirements in further detail, or to find out more about our fees, please feel free to email me at If you can also advise what type of pension you have, this would be much appreciated.

I look forward to hearing from you.

Kind regards.

Answered by

Boring Money