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Our fees
We believe in fair value for our financial planning services. For the majority of our clients, our fixed fee structure for initial planning services is a more cost-effective way of accessing financial planning advice. Our fixed fees are designed to be transparent and are not contingent upon completion of our advice.
During our discovery conversations, we explain our schedule of Initial Advice Fees. This schedule identifies what you pay, broken down by advice types and additional transaction fees.
Fixed fees are determined by the complexity of the work and the time it takes to complete, not the fund value of your investment. Our fixed fees are agreed upon by both parties. Before agreement, we examine:
- Your preference for fee calculations
- Your payment preferences
- Tax-efficient payment plans
For people who are starting their financial advice journey and want to access simple financial planning advice, we have created TPO Direct. Planning services available through our TPO Direct service are charged at 1% of the capital being invested because, for individuals with only modest funds to invest, a fixed fee structure does not represent fair value.
In all instances, fees will be discussed and agreed with you before we proceed with any work.
Our initial fees are detailed below, or you can also download a PDF copy of our initial fee brochure here. To find out more about our ongoing services and the associated fees, visit our services page, or get in touch and our team will be able to see how we may be able to help.
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TPO: Our Initial Fees
How much does independent financial advice cost?
Financial advice fees can vary based on your personal financial planning needs and it can be difficult to estimate how much you may need to pay. We aim to be transparent with our fees so that our clients are clear about the services being provided and the fees they are required to pay for those services.
We have created some examples of the initial fees clients may be charged below; these examples are outlines to help provide you with a clearer understanding of what you may pay, however some of these figures can vary depending on a combination of time, complexity and risk. Your Adviser will be able to discuss your specific requirements and the associated fees with you, and all charges will be presented to you and agreed ahead of any work taking place.
To get a clearer picture of the fees you may pay, arrange a free initial consultation and we will be able to discuss your personal financial planning needs in more detail.
Book a free initial consultation
Example 1
You are a new client to TPO with an existing portfolio to be reviewed, valued at £294,000.
| Initial advice fees | |
|---|---|
| Initial discovery meeting | No charge |
| Financial review and investment advice* | £4,625 |
| Implementation | No charge |
| Total initial fee | £4,625 |
*Our minimum fee for the financial review and investment advice is £4,425, which includes reviewing up to three investments or DC pension arrangements. Each subsequent plan will incur an additional analysis charge. For the purpose of this example, the accounts included in the review are:
- First three plans: Three Defined Contribution Pensions.
- Additional plan(s): One ISA.
For more information about the financial review and investment advice fees please click here.
Example 2
You have been self-managing your portfolio for several years. As invested wealth increases financial planning needs become more complex and regular reviews are necessary to ensure your plan remains on track. You engage TPO to provide this service. Cash flow planning and a review of your existing pension and investments totalling £875,000 are delivered.
| Initial advice fees | |
|---|---|
| Initial discovery meeting | No charge |
| Cash flow planning | £2,125 |
| Financial review and investment advice* | £6,025 |
| Implementation | No charge |
| Total initial fee | £8,150 |
*Our minimum fee for the financial review and investment advice is £4,425, which includes reviewing up to three investments or DC pension arrangements. Each subsequent plan will incur an additional analysis charge. For the purpose of this example, the accounts included in the review are:
- First three plans: One onshore Bond, one GIA and one DC pension.
- Additional plan(s): Two ISAs and three DC pensions.
For more information about the financial review and investment advice fees please click here.
Example 3
You have recently retired and you decide to appoint a financial advice firm to help you meet all of your financial planning needs. You engage TPO to provide this service. Cashflow planning and a review of your existing pension and investments totalling £2.65 million are delivered.
| Initial advice fees | |
|---|---|
| Initial discovery meeting | No charge |
| Cashflow planning | £2,125 |
| Financial review and investment advice* | £6,425 |
| Implementation | No charge |
| Total initial fee | £8,550 |
*Our minimum fee for the financial review and investment advice is £4,425, which includes reviewing up to three investments or DC pension arrangements. Each subsequent plan will incur an additional analysis charge. For the purpose of this example, the accounts included in the review are:
- First three plans: One offshore Bond, One GIA and one DC pension.
- Additional plan(s): Two ISAs and four DC pensions.
For more information about the financial review and investment advice fees please click here.
Example 4
You have decided to retire in the next six months and want to appoint a financial advice firm which can help you pull together a retirement income strategy as you have lots of different pension and investment plans that you have built up over the years.
| Initial advice fees | |
|---|---|
| Initial discovery meeting | No charge |
| Design your retirement plan (including cash flow planning and your investment strategy) | £4,425 |
| Drawing your defined benefit pension scheme pension | £3,725 |
| Implementation | No charge |
| Total initial fee | £7,700 |
Our initial fees: Planning Services
Cashflow Planning
Conducted by one of our experienced financial planners, cashflow modelling provides you with clarity on your current financial position and what it might mean for the future.
| Service | Cost |
|---|---|
| Analysis of your current position and a written report summarising our findings | £500 fixed fee plus VAT |
| Detailed cashflow forecasting; multi-scenario modelling with a written report summarising outcomes | From £2,125 to £3,450 (depending on number of scenarios modelled and complexity) |
Financial Planning & Advice
Our financial planning services range from reviewing existing investments and defined contribution pensions to outlining appropriate inheritance tax options and long term care considerations.
Our fees for these services includes specific investment advice detailed below:
| Service | Cost |
|---|---|
| Financial review and investment advice | Between £4,425 to £11,500 depending on a combination of time, complexity and risk |
The review fee charged will be based on the time and complexity of:
- The number of policies under review
- The policy structures
- Technical expertise required from the team
The investment advice will include:
- The efficient use of tax structures and allowances
- Investment solutions tailored to your needs.
Our minimum fee for reviewing up to three investments or Defined Contribution pension arrangements is £2,125. Each subsequent plan will incur an additional analysis charge as follows:
- Stocks and Shares Individual Savings Accounts (ISAs) £200
- General Investment Accounts (GIAs) £250-£450 depending on complexity of holdings
- Defined Contribution Pension £400
- Onshore/Offshore Bond £500
Cash to Investment Advice
Advice on investing cash into various tax wrappers (ISAs, GIAs, pensions, investment bonds):
| Service | Cost |
|---|---|
| Cash to investment advice | From £2,300 to £5,700 |
Cash Management
Advice on improving the returns from your cash – available as a stand-alone service:
| Service | Cost |
|---|---|
| Cash Management | From £1,000 plus VAT |
Note: VAT will not apply where a cash platform is recommended or we assist you with the setting up of your cash arrangements.
Financial Protection Planning
Putting in place provision to protect you and your family’s financial future in the event of illness or premature death is one of the pillars of a comprehensive financial plan.
| Service | Cost |
|---|---|
| Review and provide recommendations to meet your personal protection needs | Our advice fees will be settled directly from the recommended product. We will disclose the amount we expect to receive in our recommendation letter. |
Retirement Services
Services for Defined Contribution Pension Savers
| Service | Cost |
|---|---|
| Annuity Purchase - from product with Guaranteed Annuity Rates | £3,275 |
| Annuity Purchase - from Defined Contribution pension plans | Between £5,000 and £15,000. In most cases you will have the option to settle our fees directly from the recommended product. |
| Design your Retirement Income Plan(including your investment strategy) | Between £4,425 and £15,000 depending on a combination of time, complexity and risk |
| Lump Sum Allowance Assessment | Between £1,500 and £2,875 depending on time and complexity |
Services for Defined Benefits Pension Scheme Members
| Service | Cost |
|---|---|
| Detailed Cashflow with Defined Benefit pension options considered – pre retirement service | £2,925 plus VAT |
| Drawing your Defined Benefit scheme pension** | Between £3,275 and £5,575 |
| Defined Benefit Abridged Advice Service | £995 plus VAT |
| Defined Benefit Pension Transfer Service** | £9,500 plus VAT* |
| Lump Sum Allowance Assessment | Between £1,500 and £2,875 depending on time and complexity |
*VAT will not apply if a transfer is recommended
**An additional fee of £2,000 plus VAT per scheme will be charged where advice is requested on multiple schemes
Specialist Services
Our specialist services are more complex in nature and will often involve other professionals such as your accountant and/or solicitor.
Our specialist services are delivered in two stages, the first stage being preparation of an assessment and discussion document. This is followed by stage 2 where we will formulate and present our recommendations to you. The cost of stage 2 varies depending on the complexity of your planning needs. A written scope of service will be provided to you following your discovery meeting with one of our advisers, detailing the cost of the services to be provided.
| Service | Stage 1 Cost | Stage 2 Cost |
|---|---|---|
| Alternative Investing | £2,875 plus VAT | Between £2,300 and £5,750 depending on a combination of time, complexity and risk |
| Estate Planning |
Equity Release Service
Equity Release services can meet a number of financial planning needs and our highly skilled equity release specialists are qualified to provide this service as part of a comprehensive financial plan.
Our equity release service fees range from £5,000 to £30,000 with the fee charged being determined by the complexity of your financial planning needs and the work which will need to be completed to provide you with the most appropriate solution for your particular circumstances. Below are some examples of where equity release can meet a financial planning need and our indicative advice fees.
| Example scenario | Estimate fees |
|---|---|
Home adaptation In this situation the expenditure need is known in advance and there are no additional planning needs to be addressed. | £5,000 |
Care needs funding In addition to exploring equity release options we will also consider the availability of local authority assistance and the purchase of a care annuity (funded from existing liquid assets or from equity released from your home). | £10,000 |
Debt Repayment Getting a detailed understanding of current debts to be cleared and costs. This can sometimes involve multiple properties. Looking at cash flow and implications of clearing the existing debt and benefits of doing so. | £20,000 |
Estate Planning Property wealth can make estate planning challenging during your lifetime and equity release can be a useful tool in passing wealth to the next generation during your lifetime in a tax efficient manner. When estate planning is the key planning need we will engage with the extended family and their legal advisers to ensure that a joined up approach is taken. This type of planning will often include an element of trust planning, gifting and insurance considerations. | £30,000 |
Typically, equity release providers will pay a fee to your financial adviser when your equity release application is completed and this fee will be applied against the total fee payable, which will have previously been disclosed to you before we commence work. The payment of this fee from the recommended equity release provider does not have any impact on the interest rate terms of the facility you will be offered.
Financial Planning Only service
Starting from £4,250 plus VAT per annum
We have our own highly qualified investment team in place to ensure that the investment solutions we offer are suitable for the needs of our clients . However, we recognise that some individuals prefer to manage their own portfolios or to maintain an existing investment management relationship but need assistance in structuring and maintaining their financial arrangements. We are able to offer a Financial Planning Only service which provides the following core services:
Ongoing Services
- Regular Review Meetings: Ensure that your financial plan remains suitable for your needs
- Cash flow Updates: Ensure your plan remains on track
- Financial Planning: Advice on the funding of your tax efficient allowances
- Client Portal and App: For the secure exchange of documents
- Tax and legislative updates: Making you aware of things which may impact your financial plan
We are happy to provide a bespoke financial planning only service whereby additional services can be added to our core service menu on request – annual fee by agreement.
VAT
At the outset VAT will be charged in addition to the fees outlined above. There are some circumstances where VAT is not chargeable upon wealth planning intermediation, for example, when we introduce you to a product provider.
Please note that should you subsequently proceed with the implementation of our investment recommendations then VAT may not apply.
Should you have any other planning requirements not listed here, we will be happy to discuss them with you and agree a personalised arrangement.
Get in touch
If you would like to discuss any of our services and the fees involved, arrange your free initial consultation today.
Book a free initial consultation
Please note: The Financial Conduct Authority (FCA) does not regulate cash flow planning, estate planning, tax, cash or trust advice.
Our ongoing services
Whether you are taking your first financial footsteps or looking for support and guidance with your existing wealth, we have services to meet your needs.
TPO Direct is a digital-based service designed for people typically aged 25 and over with at least £50,000 to invest, looking for simple financial advice.
This service will typically suit investors with investable assets of at least £250,000, who are looking for a professionally managed financial plan.
Typically clients seeking this service will have liquid assets of more than £7.5 million and/or a lifestyle requiring £250,000 of capital or income per annum.