Paying for independent financial advice
Ways to pay
Advisers are no longer paid by commission. This means that the advice they give should not be influenced by any commission they may earn on a particular investment.
Advice can be charged as:
- an hourly rate
- a set fee according to the work involved
- a monthly retainer
- a percentage of the money invested.
Your adviser should explain to you how much their advice will cost and together you will need to agree how to pay for this. You could pay them upfront or you may be able to agree that the adviser will take it from the sum that you invest.
Your adviser should set out the charges in a clear way and make sure you understand how much you are paying.
Fees may vary from adviser to adviser, so you should shop around to get the best deal.
There may be extra charges for looking after your investments or providing advice on a regular basis.
Financial assessments team
Address: PO Box 15Council House
Earl Street
Coventry
CV1 5RR
