Advice fees differ from firm to firm. Here at Northfield Wealth we have researched the market locally and nationally to make sure our charges are fair, we also offer great value by offering additional services to our clients over and above those usually offered by a financial advice firm.
We offer a free 30 minute initial review. At this review we will clearly explain our charges and how they can be paid. Often the charges can be made from your existing investments and/or pension but you also have the option to pay us directly. Since a government review in 2012 financial advisers are no longer allowed to receive commission for Investment or Pension advice. In the days of commission charges were up to and sometimes above 10% initial charge.
For clients with more than £50,000 we charge an initial charge of 3.5% of the amount invested, if the client has less than £50,000 we charge 5%. Minimum charges per product apply and we also charge a separate fee if the client wants financial planning and plan analysis only.
Majority of our clients also pay an ongoing advice charge for us to review their investments and pensions on an ongoing basis. This is extremely important to ensure your investment is always working hard for you compared to others in the market, it is also important to keep up to date with changing legislation, we do this for you and meet you annually to review your investment, pension and full financial situation. Our ongoing advice charge is 1%.
Clear as mud? We understand that charging in the financial services world is complex, which is why we offer a free 30 minute initial review, we can clarify our charging structure, what that means for you in pounds and pence and also look at areas where we can help you to achieve your financial goals.