The cost of a financial adviser in the UK varies with the work, complexity and charging model. MoneyHelper currently gives broad illustrations of £100 to £350 an hour, 1% to 3% of the relevant value for initial pension or investment advice and 0.5% to 1% for ongoing advice.
Quick answer
Treat published price ranges as a starting point, not a quote. Ask at least two suitable firms for a client-specific written price covering the same scope, then compare the first-year cost, annual ongoing cost and all related platform, product and investment charges.
Key points
- Advisers choose their own prices; there is no official tariff.
- Complex retirement, pension-transfer or multi-product work can cost more than a straightforward review.
- Minimum fees can make the effective percentage high for smaller portfolios.
- Percentage charges rise in pounds if the asset value rises.
- An initial fee and an ongoing fee pay for different stages of service.
- Quotes should state what is included, excluded and payable if the work stops.
- Published ranges should be dated because market pricing can change.
Current indicative figures
MoneyHelper says typical hourly financial-advice fees are often between £100 and £350. For pension or investment advice, its current illustrations are 1% to 3% of the value for initial advice and 0.5% to 1% for ongoing advice.
These figures were checked in June 2026. They are broad illustrations, not an official price list. A firm may charge a fixed fee outside these ranges, use a minimum charge or quote separately for planning and implementation.
Other advice markets can use different structures. MoneyHelper gives separate examples for mortgage, equity-release and insurance advice, where provider commission can be relevant. This page focuses mainly on general financial, pension and investment advice.
A consumer should not reject or accept a quote solely because it sits outside a published range. The important questions are why the cost differs and whether the scope and expertise justify it.
Worked examples of financial adviser costs
Suppose an adviser charges 2% for initial advice on £80,000. The adviser fee is £1,600. If a minimum fee of £2,000 applies, the actual cost is £2,000, which is an effective rate of 2.5%.
For £250,000 at a 1.5% initial rate, the fee is £3,750. If the adviser uses tiered bands—2% on the first £100,000 and 1% on the next £150,000—the fee is £3,500.
An ongoing charge of 0.75% on £250,000 is £1,875 a year. If the asset value increases to £320,000, the same rate becomes £2,400. If the value falls to £200,000, it becomes £1,500 unless a minimum applies.
An hourly project estimated at 12 hours at £220 an hour costs £2,640. The quotation should explain whether the estimate includes meetings, research, report writing, implementation and administration.
| Asset value | 1% initial | 2% initial | 0.75% ongoing per year |
|---|---|---|---|
| £50,000 | £500 | £1,000 | £375 |
| £100,000 | £1,000 | £2,000 | £750 |
| £250,000 | £2,500 | £5,000 | £1,875 |
| £500,000 | £5,000 | £10,000 | £3,750 |
These calculations are mathematical illustrations only. They do not show a typical or recommended fee, and real firms may use caps, tiers or minimums.
What affects the cost of advice?
Complexity is a major factor. Advice involving several pensions, legacy products, trusts, businesses, irregular income or competing family objectives generally requires more analysis than a single straightforward question.
Type of advice matters. Specialist pension transfer, later-life, equity-release or business-owner work may involve additional qualifications, checks and professional risk.
Delivery model can affect overheads. Digital or telephone-based advice may be less expensive than a highly personalised face-to-face service, although price and quality do not always move together.
Who performs the work matters. A team may use administrators and paraplanners before a qualified adviser reviews and signs off the recommendation. This can be efficient, provided responsibilities are clear.
Implementation can add cost. A planning report may be priced separately from arranging products, transferring assets and managing provider queries.
Ongoing service adds recurring cost. Annual or periodic reviews, portfolio work and access to an adviser should be identified separately from the initial project.
Minimum fees and smaller portfolios
A percentage-based firm may set a minimum fee to cover the cost of delivering advice. For example, a 2% rate with a £2,000 minimum produces the same £2,000 fee for £40,000 and £100,000, even though the effective percentage differs.
Minimum fees are not automatically unfair. The firm may need to complete a similar fact-find, research and compliance process regardless of portfolio size. However, the consumer should assess whether the monetary benefit and complexity justify the minimum.
Some firms set minimum investable-asset levels rather than minimum fees. Others offer fixed-fee or simplified services. A consumer below one firm’s threshold may still find another regulated adviser able to help.
How percentage fees change over time
A percentage fee creates a variable cash cost. If assets grow, the fee rises. If assets fall, the fee falls unless a minimum applies.
The fee also reduces the amount that remains invested. Over many years, the effect includes both the charges paid and the potential growth that the deducted money no longer earns.
This compounding effect should be considered, but it should not be used to imply that all percentage fees are poor value. The relevant question is whether the continuing service justifies the continuing cost.
Ask the adviser to show the fee in pounds at current value and at plausible higher and lower values. Ask whether the percentage is tiered and whether a maximum fee applies.
Fixed and hourly quotations
A fixed fee provides certainty when the scope is clear. The agreement should say what is included, how many meetings are allowed, whether implementation is included and what happens if the client changes the brief.
An hourly fee can be useful for consultation, document review or a tightly defined question. It can become uncertain if the firm cannot estimate the time required.
Request an expected range and a requirement for approval before exceeding it. Ask whether lower rates apply to administrative work and how time is recorded.
Fixed and hourly work can still involve product, platform or investment charges if a recommendation is implemented.
Why specialist advice can cost more
Specialist work may require additional qualifications, detailed analysis, professional indemnity cover and internal review. Pension transfer advice is a common example where the process can be extensive and the adviser may recommend not proceeding.
The consumer should not assume that a high fee means a positive recommendation is being purchased. The fee pays for the analysis and regulated advice, not a particular answer.
Ask whether the specialist is employed by the firm, whether another adviser will handle later work and whether the quote includes all stages.
First-year cost versus later-year cost
The first year can include fact-finding, planning and implementation, so it may cost more than later years. A quote should separate one-off and recurring amounts.
For example, an initial fee of £3,000 plus an ongoing fee of £1,500 produces a first-year adviser cost of £4,500. Platform and investment charges are additional.
A five-year comparison should not simply multiply the first-year total by five. It should separate the one-off charge and model recurring charges at reasonable asset values.
Ask what happens if ongoing service starts part-way through the year or if the client cancels before a scheduled review.
How to request a useful quotation
Give each firm the same high-level information: the decision, approximate asset values, number and types of pensions or investments, desired timescale and whether implementation or continuing service is wanted.
Request the quote in writing and ask for:
- the adviser charge in pounds and percentages;
- the scope and deliverables;
- any assumptions or exclusions;
- the payment method;
- other expected product and investment costs;
- minimums, caps, tiers and VAT;
- the ongoing service and cancellation process;
- the cost if the client stops before completion.
A quote is most useful when the consumer can see the whole package and compare it with another firm on the same basis.
Frequently asked questions
What is the average financial adviser fee?
There is no single reliable price for every service. MoneyHelper provides broad current ranges, but actual fees depend on complexity and business model.
Why do advisers charge minimum fees?
Some advice work has a similar fixed process regardless of asset size. A minimum covers that work, but consumers should consider the effective percentage and value.
Can I negotiate a financial adviser fee?
A firm may or may not vary its pricing. Consumers can ask about a narrower scope, fixed fee or one-off service and compare other firms.
Is the first meeting free?
Many advisers offer a free introductory meeting, but this should be confirmed before attending. A free meeting may not include personal advice.
Does a higher fee mean better advice?
No. Price can reflect complexity or service, but competence, suitability and delivery must be assessed separately.
Are platform and fund fees included in adviser costs?
Not always. Ask for the total package and a breakdown of each charge.
Illustrative pricing by advice scenario
A consumer asking for a review of one straightforward investment may receive a lower quote than a household seeking a full financial plan covering pensions, investments, protection and retirement. The latter requires more data, meetings, modelling and coordination.
A person with several old pensions may appear to have a simple consolidation question. The adviser may need to examine guarantees, exit penalties, protected tax-free cash, investment options and employer benefits before deciding whether consolidation is appropriate. The cost reflects the analysis, not merely the number of forms completed.
Retirement-income advice can also be more expensive than accumulation advice because the recommendation must consider withdrawals, sequencing risk, tax, longevity and the interaction between secure and flexible income. The client should ask which of these items are included.
Where a firm offers a lower-cost digital service, check the limits. The service may use a restricted product range, standardised portfolios or less adviser contact. That can be suitable, but it is not directly comparable with comprehensive face-to-face planning.
Why location and delivery method may affect the quote
MoneyHelper notes that adviser location and method of delivery can influence price. A firm with expensive premises and frequent in-person meetings may have higher overheads. A national telephone or video service may operate differently.
Location should not be used as a quality shortcut. A remote adviser can provide a thorough regulated process, while a nearby adviser may offer a more limited service. Compare competence, scope and communication.
Ask whether travel, home visits or additional meeting time is included. Some firms charge separately for work outside their normal delivery model.
Quotation warning signs
Be cautious if the firm will not give a written client-specific quotation before chargeable work starts. A broad percentage on a website is not enough if minimums, tiers and implementation costs remain unclear.
Another warning sign is a fee that depends on the adviser recommending a particular transaction without a clear explanation of how conflicts are controlled. The client should understand what is payable if the advice is not to proceed.
Promises that investment gains will certainly cover the fee should not be accepted. Markets and future returns are uncertain.
Using a phased service to control cost
A consumer can ask whether work can be divided into phases: an initial diagnostic, a full recommendation, implementation and later reviews. This can prevent paying for a larger service before the need is clear.
Phasing must not undermine suitability. The adviser may explain that some issues cannot be separated safely. The scope and limitations of each phase should be written down.
Sources and further reading
Important: This guide is for general education only. It does not provide personal financial advice, a quotation or a recommendation to use a particular adviser, firm, product or charging method.
Reviewed by: Financial Adviser Hub Editorial Team. Last reviewed: June 2026.