What is the average annual fixed fee for financial advice in UK?

22 Mar, 2022

Question by Binky

Just wondering what is the average annual fixed fee for financial advice in uk?

Answered by Tim Brienza

Hi Binky,

It's difficult to say what the average would be as these initial fixed fees are generally not disclosed via firm websites etc. but a recent survey by Which.com* has calculated the average cost of advice, if investing £100,000 and receiving ongoing advice over 5 years is £6,442. This is a combination of initial and ongoing annual costs.

For a £20,000 ISA and ongoing advice over 5 years, this figure averages at £1,359.

The reality is that the difference can be significantly different from one firm to the next, so it's worth doing some research and speaking to a few different options. Feel free to get in touch and I can send you our Service Charter that documents our advice fees.

Hope that's helpful Binky.

Tim

* https://www.which.co.uk/money/investing/financial-advice/how-much-financial-advice-costs-a1dwl4f8j8pf

Answered by

Tim Brienza

Chartered Financial Planner

I started my career wanting to be a lawyer however I soon pivoted into personal finance after university. The eye for detail that I honed while studying law lends itself well to financial planning and now, 7 years later, I am a Chartered Financial Planner and a Fellow of the Personal Finance Society - the highest accreditation possible through the CII.

I love working with my clients, building stronger relationships and gaining a better understanding of their needs year-on-year. I don’t have a 'typical' client and enjoy working with everyone and anyone; from those who want to place their full trust in me and my recommendations, to someone who wants to engage and collaborate to find solutions. Financial Planning is completely subjective and should be treated as such – there is no 'one size fits all.' Ultimately my role is simply to ensure that my clients and their families have the best life possible, within their means and capabilities, by structuring their finances and/or estate in the most efficient way possible.

Outside of work, I’m married to a Film Production Manager and we love to travel to new places when we get the chance. We also recently added a new addition to the family, a small cockapoo named Ted, who keeps us very busy!

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