The Secondary Advice Market – SAM Can Save You Money


When engaging the services of a financial advice company there are typically two components to the fees that are charged. The first fee helps cover the costs for the initial research, advice and implementation of any new plans that might be required.  The second fee relates to the on-going service and advice – especially important in a world of changing legislation and where investment management needs to be proactive in order to make your money work hard for you.

We are constantly reviewing our fee structure. We pride ourselves on the level of professionalism of our consultants, the expertise of our paraplanning team and the dedication and eye for detail in our administration team. We worked hard to achieve the company’s Chartered Financial Planner status and it is recognition of the fact that we provide a quality driven and competitively priced service to our clients. We believe we provide value for money at the initial advice stage as well as the on going review stage of our service. It is these factors and more which lie behind our continued growth and why we are pleased to report that we now actively manage over £300 million on behalf of our clients.

However, we have recently noticed that in general terms, the cost of the review service is gradually creeping up amongst our competitors and in two recent instances, when new clients have approached us, we have seen annual fees of competitors reach 1.2% and 1.25% p.a. Once the underlying investment management fees are added, it is easy to see how the annual fees can exceed 2% a year. This is extremely high in a world where interest rates are still below 0.5%.

In both instances, the new clients transferred their existing investments over to Mantle Financial Planning. We were happy that the initial advice met the clients’ requirements, so when we took over the management of the plans, we simply asked the providers to reduce the adviser fees to a more reasonable level. In one case, the client is now saving over £1,000 p.a.

That’s worth bearing in mind, so if you would like more information on the above article or advice on your personal financial circumstances, please contact us >>

Written by Sean O'Shea | Senior Consultant

Sean joined has been an IFA for over 20 years. Read more >>

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