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Our Fees

Straightforward fees for peace of mind

Paying for professional advice and a financial plan could be the best investment you ever make. A clear financial strategy will increase your chances of achieving your Life Goals, improve your financial wellbeing and give you peace of mind.

Our fees are simple, fair and easy to understand. No hidden costs, no nasty surprises. Best of all, you get to put us to the test before you pay us a penny. Sound good?

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Indicative fees for the first year only. Fees are payable monthly in arrears. The value of investments and the income from them can fall as well as rise and are not guaranteed. The investor might not get back their initial investment. This information is based on our fees and charges as at July 2021 and may change from time to time. There may be additional or different fees depending on your chosen solutions. Your adviser will confirm all the applicable fees and charges prior to you proceeding with any solutions.

Ready for some detail?

We like to kick things off with a free, no-strings informal meeting to help you – and us – decide if we’re the right fit.

Once we’ve decided to work together, we charge our fees in three ways:

  • A fixed fee to produce Your Financial Plan.
  • An implementation fee to invest your money. 
  • An annual fee for ongoing advice and service.

These fees reflect the services you ask us to provide.

Our fixed fee for producing a standard financial plan is £2,000. This increases if you need us to include additional legal entities (a business, registered trust or charity) in your plan.

  • Additional cost to add one legal entity: £1,000.
  • Additional cost to add two legal entities: £2,000.
  • Additional cost to add three legal entities or more: £3,000.

Your financial planner will tell you how much you need to pay. This is capped at a maximum of £5,000, however many legal entities you need us to include.

Once you’re happy to proceed, we’ll invoice for this fee after our first meeting, but you don’t need to pay until you’re completely happy with Your Financial Plan.

Your Financial Plan may include recommendations for new investments and pensions – such as an annual Individual Savings Account (ISA). We are paid for any investments or pensions we set up for you, and our charge includes the advice, administration and set up of these products. Our implementation fee is 1% of the amount you invest through First Wealth. For example, if you invest a lump sum of £500,000, our implementation fee will be £5,000.

Once Your Financial Plan is active, our ongoing advice and service keeps you focused on meeting your life goals and objectives. 

Our ongoing advice and service fee is 1% each year, and includes the financial planning and wealth management aspects of our relationship, which change as your circumstances change. If you invest a lump sum of £1,000,000, you’ll pay an ongoing advice and service fee of £10,000 a year.

We have a minimum annual fee of £1,500.

As well as the fees we charge, there may be additional charges associated with discretionary investment management, the funds we recommend, the structures or pensions we invest in and the wrap platform (sometimes called custodian fees). We always tell you about these fees upfront. 

The amount you pay depends on the portfolio you invest in, the services you ask us to provide and the amount you invest with us. Using the example above, if you invested £1,000,000 into a First Wealth Evidence Based balanced portfolio, via the Fusion wrap platform, managed on a discretionary basis, the annual fees would be: 

  • Discretionary management fee: 0.096% (£960). 
  • Costs of underlying financial instruments: 0.23% (£2,300). 
  • Fusion wrap platform: 0.20% (£2,000). 
  • First Wealth fee: 1% (£10,000).

Total fee: 1.526% (£15,260 on a £1,000,000 investment).

FCA research shows that average charges across the financial planning profession are 2.4% of the amount invested for the initial advice and 0.8% per annum for ongoing advice (FCA Evaluation of RDR Report, December 2020). We believe our fees represent excellent value for the advice and service that we provide; have a look at our Google Reviews, our clients say things a million times better than we can.

 

  • 5 star review  The guys at First Wealth really helped me out. I had a pension set up a long time ago by a family friend and I’d just forgotten about it, it hadn’t been managed or looked at for years. Ant sat me down and went through all the options and choices and gave his opinion on what I should do. It’s safe to say my pension is now working incredibly well and its in such a better financial position then it was 12 months ago. Highly recommended

    thumb Paul C
    9 September 2021

    5 star review  Rob, Robert & Sam are all an absolute pleasure to deal with and have been excellent in helping me manage my investments and with my financial planning for our future. The team offer practical advice in a clear and easy to understand way. More importantly, they are happy to listen and work with me and give me the time to discuss and debate investments. Finally - you can only measure a financial adviser by their performance and thank goodness this is where they have excelled the most for me with all my investments doing better than expected. Thank you!

    thumb Mark Posniak
    3 November 2021
  • 5 star review  I spoke with Robert Schwarz at First Wealth to get some advice about pensions and investments. He was very amiable and easy to talk to - clear, accessible and pragmatic with his advice. Would absolutely recommend. Also, they clearly have their clients best interests at heart and would not charge for advice or work which was not required. I will be, and look forward to, speaking with him again for all future questions and advice! Thank you!

    thumb Felicity
    6 May 2021

    5 star review  First Wealth have been a fantastic help to us. They are friendly, approachable, knowledgeable and explain everything clearly. We started with a complicated set up but they simplified it for us easily and their lifetime planning has been key to our financial decision making. Robert, Anthony, Caroline and Samuel have helped us enormously. Would highly recommend them.

    thumb Amanda Dhar
    1 March 2021
  • 5 star review  My wife died recently. I found First Wealth sensitive, responsive, and extremely helpful in dealing with the financial consequences, and how best to plan for the future. They came up with many constructive proposals, and were extremely professional.

    thumb Jonathan Dowler
    10 September 2021

    5 star review  As well as having received excellent professional financial advice from First Wealth for over ten years, I always feel that everyone in the office treats me as a person not just an account number. This means a lot in this day and age. Queries are dealt with promptly and over the years nothing has been too much trouble. I am happy to fully recommend First Wealth for financial guidance and planning.

    thumb Jocelyn Chatterton
    1 March 2021

The Value of Financial Planning

Advisers in the US add 4.83% of value each year, through active rebalancing of investment portfolios, behavioural coaching, customised planning and more.*

Making sound financial planning decisions can generate 29% more income on average for a retiree.**

Receiving professional financial advice between 2001-2006 boosted wealth (in pensions and financial assets) by £47,706 in 2014/16.***

Reports consistently show that professional financial planning adds significant value over the longer term. Have a look at the small selection of our Google Reviews above to see what our clients say about our work. We'd love to talk to you about how we can help, so please give us a call.

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