The fee charged by a financial adviser can vary widely depending on several factors, including the adviser’s experience, the complexity of the services provided, the number of assets being managed, and the geographic location.
Some advisers charge a percentage of the assets under management (AUM), typically ranging from 0.5% to 2% per year. Others may charge a flat fee for specific services, such as creating a financial plan or providing investment advice.
The average fee for a financial adviser in the UK is around 1% of AUM per year, but it’s important to note that this is just an average and actual fee can vary widely. It’s important to discuss fees upfront with any potential adviser and ensure that you understand exactly what services you will be receiving for the fee charged.