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    • Home • Advice • Common questions

    Do I need to be paying a financial adviser ongoing financial fees?

    15 November 2021

    Question by Lino

    Do I need to be paying a financial adviser ongoing financial fees? I receive an update once a year and meet once a year. Once the plan is set up it is left with the investment company to deal with not the financial adviser.

    Answered by Boring Money

    Hi Lino, I guess the fee is all relative to the service that you receive. Perhaps it could be time to raise this question with your advisor/potential advisor and ask them to demonstrate the value that you are/potentially paying for, which they should be happy to provide.

    Whilst the investments are with an investment company, you may likely be paying for unlimited access to the advisor for any queries (i.e to avoid the onboarding costs again) ongoing review of the suitability of the investments, cashflow planning, life planning, newsletters, behaviour coaching, financial coaching and proactive outreach to you with any changes in legislation that may affect your plans etc.

    I hope this helps, best wishes.

    Answered by

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    Important stuffHolly and the team have worked in the finance industry for many years but we are not regulated to give you personal financial advice. For every story on this website about a good investment, or something which went up by 10% or made someone £200, we could also share a story about a bad investment, something which fell in value or lost someone £200. We aim to provide general information and pointers – and btw we are totally agnostic about which providers you might pick – but if you have complex affairs, want personalised advice or need specific recommendations, please look at advice pages and see if regulated digital or traditional financial advice would be the best solution for your needs. Boring Money Ltd is a limited company registered in England and Wales under registration number 09459832 and we have our registered office at 10 Lower Thames Street, London, England, EC3R 6AF.
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    Boring Money Ltd is a limited company registered in England and Wales under registration number 09459832 and we have our registered office at 10 Lower Thames Street, London, England, EC3R 6AF.
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