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?
Do you have a business?
Do you have a trust?
Do you have a Charity?
Initial setup fees
Your Financial Plan fee:£
Ongoing advice fee:£ per month
Investment fees: £ per month
Total ongoing fees: £ per month (% per annum)
Discretionary Fund Management (DFM) fee: 0.096% £ per month
This is the fee you pay for us for actively managing your investments on your behalf.
Platform charge fee: 0.20% £ per month
This fee covers administrative costs for your investments including online reporting.
Fund managers' fees: 0.215% £ per month
These are the ongoing charges and fees of the funds selected for an investment in our balanced model portfolio. This is the portfolio most clients select, but the exact fee you’ll pay depends on your risk profile.
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.
First Wealth have been supporting us with several elements of our financial affairs for around a year and I am delighted with the service we have received. The advice is always clearly explained and the team are extremely helpful and responsive, no matter how small or minor the query. Particular thanks to Rob, Dan, Humaira, Zoe and Honor who have all worked with us at various points and who have all been brilliant!!!
Deborah Kester 8 September 2021
My experience with First wealth team is extremely positive. They are a highly skilled professional team who are always available to help their clients. I have personally be with them for over 20 years and will highly recommend them
Sanjiv agarwal 2 November 2021
I have been using First Wealth for my pension portfolio and future tax planning retirement inheritance issues for many years, I briefly left to go to another advisor, but came back as they proved far superior in so many ways, I find them so easy to talk to & deal with, with nothing to much trouble. I recently made a tax free withdrawal from my pension which they carried out on my behalf, with absolutely no fuss,
They are a Family based firm that cares for its clients and I would thoroughly recommend their services.
Gary Hicks 15 September 2021
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.
Paul C 9 September 2021
I had a fantastic first meeting with Robert and couldn’t recommend him more highly. He was incredibly knowledgeable and had a great way of discussing things in an accessible and relaxed way, which is great given how uncomfortable it can sometimes be to discuss this kind of stuff. I’ll definitely be going back to Robert for any advice I need in the future
Gabriela F 29 March 2021
I have worked with Robert Caplan and his brilliant team for over 10 years. His professionalism and sheer commitment to ensuring my long term goals, are not just in place, but consistently reviewed and met are second to none. Thank you for your ongoing advice
james caplan 14 September 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.