Diploma for Financial Advisers
Diploma in Accounting
Member of London Institute of Banking and Finance

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When it comes to getting financial advice, one of the first things people think about is the cost. Financial advisors can charge a range of fees, and these can add up quickly. It’s essential to understand what these fees look like and whether traditional financial advice is worth the price.

What is the normal fee for a financial advisor

Most financial advisors charge in one of three ways: a percentage of your assets, an hourly rate, or a fixed fee.

1. Percentage of Assets: This is the most common way traditional financial advisors charge. Typically, they take around 1-2% of your investment portfolio each year. If you have £500,000 invested, a 1% fee would cost you £5,000 annually. That’s a significant amount! Over the years, these fees can reduce your returns.
2. Hourly Rates: Some advisors charge by the hour, and this can range from £150 to £400 per hour. The total fee depends on how much time they spend on your case, and it can become expensive if your financial situation is complicated.
3. Fixed Fees: A fixed fee can range from £500 to over £5,000 depending on the service provided. For a full financial plan, expect to pay on the higher end. These fees are often charged upfront and may not be flexible if you only need limited guidance.

Are These Fees Justified?

The high fees of traditional financial advisors can be hard to justify, especially for basic financial needs. Old-fashioned advice models come with high overhead costs, including offices and administrative staff. As a result, clients often end up paying more for services that could be delivered more efficiently.

An Affordable Alternative: Financial Guidance

For many people, paying thousands of pounds for financial advice is just not practical. Instead, financial guidance offers a more affordable and straightforward option. Financial guidance focuses on helping you understand your financial situation and make informed decisions without the high fees.

For example financial guidance session is only £60. This approach is designed to give you useful, personalised help without a massive hit to your wallet. It’s a cost-effective way to get advice that matters, whether you’re planning for retirement, managing debt, or looking for ways to invest wisely.

Why Consider Financial Guidance?

1. More Affordable: At £60 per session, financial guidance costs far less than traditional advice models.
2. Focused Help: You get advice tailored to your specific needs without unnecessary extras.
3. Flexibility: Pay only when you need guidance instead of committing to ongoing, costly fees.

Conclusion

The normal fee for a financial advisor can be eye-watering, especially when compared to the value you actually receive. If you need advice but don’t want to spend a fortune, consider financial guidance. With options like £60 per session, you can take control of your finances without draining your savings.

Whether you’re new to financial planning or just want a second opinion, affordable financial guidance may be the smarter choice.

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