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FRIDAY FAQ: How Much Does it Cost for Financial Advice?

Every Friday we aim to post an answer to a FAQ about mortgages, tax, investments, money matters, business or retirement. You can have your say too. Send an email with your FAQ to

This does not constitute advice and advice should be sought in all instances before acting on it.

Q: How much does it cost for financial advice?

Answer: If you’re wondering how much the financial advice you’ll be getting will cost you, all you need to do is ask the Independent Financial Adviser (IFA) you’ve chosen to work with.

Legally, financial advisers are required to be completely transparent about the cost of their services but exactly how much you will be charged depends on few different factors:

  • The services they are providing
  • The fee structure you’ve decided on (hourly/project basis/monthly/ongoing)
  • Your location
  • How the services are delivered
  • Who does the work
  • The qualifications of your adviser
  • If your adviser is independent or restricted
  • The complexity of your situation

Adviser’s charges

The charges for an adviser will be either an implementation cost or ongoing review costs. Implementation costs cover the adviser’s initial research and recommendations and includes their time for your introductory meeting.

Once a plan is decided on, the implementation cost many firms charge is up to 3% of your primary investment. The ongoing review process consists of meeting yearly to review your investments, ensuringthey still meet your needs, and adjusting if your situation has changed. This cost is taken as a percentage from your investments.

Despite the fact that it will cost you money to get financial advice, it is worth it to have a professional in your corner.

Of course, expenses will vary for the type of assistance you’ll be provided and will depend on a variety of factors, but your adviser is required to be completely forthright about their charges.

If you’re ready to invest in your future, get in touch with us today.

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