Discover typical costs for financial advice and what you get for your money
Many people wonder whether professional financial advice is affordable and what they’ll actually pay.
Costs often vary depending on the type of advice, the adviser’s charging method and your personal circumstances.
It’s worth understanding the price of typical fees before deciding whether advice is right for you. So, how much is a financial adviser, and how much do they cost?
How much is a financial adviser?
What you’ll pay for a financial adviser depends on their fee structure and the type of advice you need.
According to 2025 figures from government-backed MoneyHelper, basic charges for advice usually start at £75 per hour, rising to £350 or more. Fixed fees for specific work typically range from hundreds to thousands of pounds, or you may be charged a percentage of your assets of around 0.5% and 3%, often with a minimum fee.
Financial advisers may charge a one-off fee for financial planning, or an ongoing fee for the continuous management of your savings, pensions and investments. The charges relate to the time it takes to understand your goals, the complexity of your situation and the actual advice accompanied by personal recommendations.
When seeking financial advice, you should always request a clear summary of fees before deciding to proceed.
How do financial advisers usually charge?
Getting expert advice on pensions, savings, investments can make a significant difference. But people often worry about the cost of a financial adviser to help with these big decisions.
Not all financial advisers charge in the same way. Knowing what the common options are will help you compare potential costs and set a budget.
Whether you’re looking to boost your investments or maximise your retirement income, a financial adviser will consider your circumstances and recommend the best course of action.
There are several ways you’re likely to be charged for financial advice:
1. Fixed fee
An adviser may charge a fixed fee for providing a specific service, such as setting up a lifetime annuity. If so, you should request written confirmation of what’s included in the fee.
As a guideline, pension and retirement advice from LV= starts from £995, and you’ll only be charged if you agree to one of the suggested options.
2. Hourly rate
Some financial advisers charge by the hour for providing specific services, such as estate planning or transferring investments. In 2025, the government-backed MoneyHelper service estimates that the average rate for these services is approximately £150 per hour.
For ongoing services, you may need to pay a monthly fee, which could be a fixed amount or a percentage of your invested funds.
To find out how much a financial adviser costs per hour, ask them to estimate how long the work will take and to clarify all fees during your first meeting so that you’ll know exactly what to expect.
3. Percentage of assets under management (AUM)
A financial adviser who manages your investments may charge a fee based on your portfolio’s total value over time. This means the fee increases as the value of your investments and returns grow.
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What affects the cost of a financial adviser?
Several factors can impact the cost of a financial adviser.
Fees are likely to be higher if you require complex, time-consuming, and ongoing services as opposed to a one-off plan.
You may pay more if the adviser personally handles all the work rather than delegating tasks to fellow colleagues.
The way you access advice can also affect the cost of a financial adviser. Online advice can be cheaper as the adviser has lower overheads to cover. On the other hand, face-to-face advice in expensive areas may come at a premium.
Another influence on fees is the type of financial adviser you choose. Independent advisers have access to the full market of financial products and providers, whereas restricted advisers are limited in what they can recommend.
How can I keep fees as low as possible?
Being prepared and providing key information upfront can make the process of getting financial advice go smoothly and potentially reduce fees.
If you opt for online advice, doing your research and seeking recommendations can help you make the right choice and avoid unnecessary costs.
Ultimately, the type of adviser you select is an important factor in determining both cost and value. The cost of financial advice is variable, and it’s important to ask for transparency from the outset.
A financial adviser must always provide clear details of a fee schedule, so you’ll know exactly what you’ll pay before any work begins.
How much is a financial adviser: Typical costs
Many financial advisers provide a free initial consultation. It’s not designed to give you tailored advice, but rather to help you understand how they work, what their fees are and whether you feel comfortable working with them.
Adviser fees vary depending on the type of service and payment method. Different advisers may offer flexible payment plans, and some may be open to negotiation.
Below are some examples of the typical costs involved with getting financial advice. These figures are based on 2025 estimates from government-backed MoneyHelper.
Hourly rate |
Monthly fee |
Fixed fee |
Ongoing fee |
|
Typically between £75 and £300 per hour, with the UK average around £150. |
Usually, a flat amount or a percentage of your investment. |
A set price for specific work ranging from hundreds to thousands of pounds, depending on complexity (e.g. a pension transfer will cost more than arranging an ISA). |
Charged for an ongoing service or can be a way of spreading initial costs through regular payments. Ongoing fees are typically a percentage of your assets under management (AUM). |
It's common for advisers to use a combination of these charges, such as a fixed set-up fee alongside a percentage-based ongoing fee. It’s important to note that financial advice fees don’t cover the cost of underlying investments themselves, and additional costs from services like investment platforms and fund fees may also be passed on to you.
It’s always best to ask your financial adviser to break down fees and costs in writing. Paying for financial advice can feel daunting, but it should add more value than it costs and benefit you in the long run.
For example, setting up a pension strategy with strong performance and lower fees could bring financial benefits when you retire, although there is no guarantee.
What’s included in the fee – and what isn’t?
When you pay for financial advice, it’s important to know exactly what you’re paying for.
Adviser fees normally include:
- Core services such as an initial consultation.
- Detailed financial planning report setting out your goals.
- Product recommendations tailored to your needs and circumstances.
- Ongoing reviews to ensure your plan remains on track.
These services provide financial structure and reassurance to help you make informed decisions with confidence. However, not all costs are included in the adviser’s fee, and you may face extra charges for:
- Platform fees for accessing your investments.
- Fund management charges such as annual fees.
- VAT in some cases.
These additional charges can add up, so it’s vital to understand the total cost to you before you commit to things like pension and retirement advice.
At LV=, we believe financial advice is a valuable way to maximise your investments, reduce the risk of costly mistakes and build long-term security. Always ask your adviser to provide a full breakdown of their fees and extra costs so you know exactly what’s included.
Will my financial adviser receive a commission?
Your financial adviser cannot be paid a commission for advising on investments, pensions or retirement products. Instead, they will charge you a fee for the services they provide.
For other types of advice, such as mortgages, income protection, or equity release, they may be paid a commission.
One-off financial advice vs ongoing advice: A comparison
Financial advice isn’t a one-size-fits-all offering, and the type of support you need depends on your circumstances.
One-off financial advice
Usually recommended when you’re making a specific decision, such as the best way to access your pension or how to consolidate your pension pots.
A one-off consultation is designed to help you achieve a milestone and make the right financial choice and give you a clear, tailored recommendation that matches your goals.
Ongoing financial advice
This is like having a financial partner by your side as your circumstances evolve. It’s a type of long-term investment management solution that provides regular updates on the performance of your retirement strategy and investments, and whether your insurance needs are still being met.
Ongoing advice is usually recommended if you have substantial investments or complex retirement income needs that require flexibility and regular adjustments.
The option you choose depends on your situation and long-term financial goals. Many people benefit from starting with one-off advice before switching to an ongoing arrangement when their finances and circumstances change over time.
How to check you’re getting value for money from a financial adviser
Financial advice isn’t just about the price you’re paying but the value you’re receiving. Here’s a simple checklist to help you feel confident.
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Ask for clear fee disclosure
Make sure your adviser sets out all fees upfront, including what’s covered and what isn’t. Request this in writing so you know exactly what you’re paying for.
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Confirm your adviser is FCA-regulated
Only advisers authorised by the Financial Conduct Authority (FCA) can give regulated financial advice in the UK. You can check their status on the FCA Firm Checker.
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Compare advisers before committing
Don’t be afraid to shop around and compare fees and services offered so that you find the best option for you.
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Consider both cost and potential value
Good advice can help you save money through tax-efficient planning, avoid costly mistakes and give you peace of mind.
By using this checklist, you’ll be better placed to choose a financial adviser who fits your budget and provides meaningful value for your retirement and investment journey.
How a financial adviser can help you
A financial adviser can make a significant difference when it comes to planning for your future. They’ll save you time, remove the guesswork and offer clear guidance when things may feel overwhelming:
- Reviewing your financial goals: An adviser will take time to understand what you want to achieve, whether that’s retiring early or helping your children onto the property ladder. They’ll assess whether your goals are realistic and the steps you should take to get there.
- Explain your tax and investment options: The world of investments, tax allowances and investment products can be confusing. A regulated adviser will explain your options in plain language and explain how different choices might affect your future income or tax burden. They’ll also help you avoid costly mistakes and make smarter decisions.
- Create a personalised plan: They’ll recommend pension schemes, investments, mortgages and income protection products and build a plan tailored to your needs and financial goals. They’ll also explain how to balance risk and reward over time and what strategies could work best for you.
Only advisers regulated by the FCA can provide personalised financial advice. By working with a regulated professional, you can feel reassured that your plan is designed around your needs and backed by industry standards of quality and accountability.
Do you need expert financial advice? Speak to LV=
If you’re wondering: 'how much is a financial adviser?' you may be looking for guidance on your investments and financial planning. At LV=, we provide everything from professional investment advice to retirement and pension advice to help your money go further. Contact us today and speak to one of our regulated advisers about your future plans.
How much is a financial adviser: FAQs
We’ve collected some of the most frequently asked questions about financial adviser charges to help your decision.
Can I get free financial advice?
No, you can’t get free financial advice per se. Some providers offer free consultations to understand your needs, but this is usually a precursor to paid financial advice. This initial meeting allows you to consider whether the financial adviser is right for you, as you’re likely to be working with them for several years or longer.
However, government-backed services like Pension Wise do offer free, impartial guidance on pensions and retirement options.
How often should you see your financial adviser?
You should see your financial adviser as often as you want. At the very least, you should expect an annual review of your finances.
Your adviser may recommend regular meetings if there have been significant changes that affect you. This may involve setting up or selling a business, buying property, or planning for retirement.
Your financial adviser may also set up ad hoc meetings following key events like market downturns, a drop in investment performance or changes to tax legislation.
Meeting with your financial adviser can offer reassurance that your financial plan is on track and aligned with your goals.
