How much are independent financial adviser fees?
How much does a financial adviser cost? The answer will depend very much on what kind of help you’re looking for.
Adviser fees vary
Independent financial adviser fees vary from around £500 for investment advice, to £5,000 (and more) for some kinds of specialist pension advice.
If you’re seeking general guidance on budgeting and/or debt management, free advice can be obtained from reputable sources such as the Money Helper, Citizens Advice Bureau or (if you’re over 50), the government’s Pension Wise service.
How are financial adviser fees charged?
Independent financial advisers charge for their fees in a variety of ways:
Typical financial adviser costs
The table below shows some typical adviser costs - please note, these are guidelines only.
| Type of advice | Cost |
|---|---|
| Investment advice | |
| Advice and set up of £11,000 investment ISA | £450 |
| Investment strategy for a £50,000 inheritance (for a 50-year-old seeking medium-term growth) | £1,500 |
| Retirement planning advice | |
| Advice on an £80 per month pension contribution | £500 |
| Advice on a £200 per month pension contribution | £580 |
| Advice on transferring a £30,000 pension with guaranteed annuity rates | £900 |
| Advice on transferring a £100,000 pension with guaranteed annuity rates | £2,000 |
| Advice on defined benefit transfer | £1,500 |
| At-retirement advice | |
| Converting a £30,000 pension fund into a lump sum and annuity | £825 |
| Full advice on a £100,000 pension pot | £2,000 |
| Advice on a £200,000 pension pot (execution only) | £1,100 |
| Set up of a drawdown scheme on a £300,000 pension pot | £3,500 |
| At retirement advice where the client has a £200,000 Sipp, some DB income, £100,000 of investments and a £250,000 investment property, incorporating estate planning | £5,000 |
Factors affecting independent financial adviser fees
There are several factors that can affect the cost of a financial adviser, including:
Financial adviser fees vs commission
Financial advisers can still be paid a commission for advising on mortgages, equity release and insurance products. These include home, travel and term life insurance.
For advice on pensions, investments and retirement income products, advisers cannot be paid a commission and must charge you a fee for their services.
Choosing an independent financial adviser
This can be made much easier using online comparison sites such as:
Equity release advice
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Maximum loan amount:
Important: The loan amounts above are an illustration of the amount you could borrow. The actual amount may vary depending on your individual circumstances. The figures are not guaranteed and do not constitute an offer to lend. The loan amount will need to pay off any existing mortgage secured against the same property.
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