Our Fees

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, and subject to your agreement to proceed, this fee will be invoiced to you following our first meeting. We kindly ask for full payment before we start any work. 

If you are not satisfied, we are not satisfied. That is why we will happily refund 100% of the Your Financial Plan fee if you are not completely happy with the work we have done for you.

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.