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

15 November 2021

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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 Kris Amliwala

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

Kris Amliwala

Chartered Financial Planner

I really enjoy helping people align their wealth to their life goals and ambitions. By first spending time in understanding you, your life and your goals, before looking at cashflow planning and then if needed, any financial solutions, I find delivers the most rewards.