Holly Mckay
Holly MackayFounder and CEO
Avatar

Subscribe Now

Free of Charge

Avatar
    • Home • Advice • Common questions

    How much should I expect to pay for a financial adviser?

    08 July 2024

    Question by John

    Answered by Boring Money

    The cost of financial advice can vary widely depending on what service you need, who you go for, and the charging model they offer. Financial advice can be charged as any of the following:

    • An hourly rate (typically between £150 - £250 per hour)

    • A set fee according to the work involved (e.g. £900 inc. VAT)

    • An annual or monthly retainer (typically 0.5% - 2.25% per year)

    • A percentage of the money invested (e.g. 3% of your total assets)

    Generally speaking, financial advisers can range from as little as £150 an hour or they can stretch into the thousands of pounds, depending on the value of your assets.

    The good news is many financial advisers will offer you an initial consultation for free, giving you a chance to get to know them first. This is a great idea because you really want someone who can relate to your circumstances and understand your goals. If you don’t click, trust your gut and try someone else. Financial advice is rarely a cheap service, so avoid committing to someone you’re not happy with.

    Answered by

    Boring Money

    Here to help you understand your options and make smart money choices.

    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.
    Risk warningAs is always the case with investing, your capital is at risk. The value of your portfolio can go down as well as up and you may get back less than you invest. Tax treatment depends on your individual circumstances and may change in the future.
    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.
    |

    We use cookies

    You will see cookie information on different websites and regulation means that we need to ask your permission to use them. We use cookies to improve our website, for analysis of our visitor data, to show personalised content and to give you a great website experience. For more information about the cookies we use open the settings.