What value is there in paying ongoing FA fees?

13 September 2021

Question by Lina

I have a SIPP of over £500,000.00 with True Potential- a balance portfolio which is managed by TP. I am happy with the growth.

I have cash & S&S ISA of about £120,000.00 & savings of about £50,000.

I have a small NHS pension - £4850.00 pa. I am single, no dependents, mortgage, debt free & in relatively good health.

What value is there in paying ongoing FA fees?

Answered by Matt Angell

Hi Lina,

Firstly taking into consideration your current position, I would first identify what your current cost base is with True Potential as you be quite surprised by what you will be potentially paying in your current investments and the platform charge too.

I think having a good financial planner will firstly focus on putting a clear and transparent plan in place for you which will clearly focus on allowing you to live the life you want going forward and give you the peace of mind of not having to worry about your finances.

Following putting this plan in place they will certainly look at ways of reducing costs, saving tax especially when drawing an income from your pension, and more importantly make sure you spend your money now and in the future so you live life to the fullest.

Most planners offer free consultations to discuss everything regarding what they do and how they do it and more importantly the costs for doing so. I certainly like to have this type of meeting with any people that want to explore their options and identify if we could both get along as in general, it becomes a long-term relationship.

Drop me or one of the many excellent advisers on the Boring Money Directory a line and have a chat as I'm sure your find there is a lot of value-added by having one alongside you.

Have a great weekend


Answered by

Matt Angell

Founder & Financial Planner

I am the founder of Creative Lifestyle Planning, an independent financial planning firm that works with many families across the UK. Matt specialises in helping families to answer those all important questions they have on their mind and helping many clients gain a clearer, simply understanding of when and how to they can retire.