Financial Planners - what's the likely cost of the service?

surreybased

Not sure if this is right place but hoping someone might have information on Financial Planners.

My H and I have over the last few years extended ourselves financially, we are managing, just, but I know that should interest rates raise (when they do) life will get v tough. We are also in our 40's and we whilst he has a pension we have no savings and we have no means of providing for our DC's.

My H is a head in the sand person - he has never managed money well, despite always earning very well. He comes from a family where they live for today, his father is in his 70's and still HAS to work as the family home was repossessed years ago and he chooses to rent a very expensive home. He brother was recently homeless as a result of losing his job and having no savings to fall back on.

Despite spreadsheets and rational debates my H won't listen to me but I'm hoping that he would take the input from an external person. I've found details for a personal financial planner which seems to fit the bill but the person I spoke to charged £1500, which my H would never agree to.

Is there a similar service (but cheaper) that we could access?

jem16

surreybased wrote: »

Is there a similar service (but cheaper) that we could access?

Different financial planners and IFAs will have different charges. Might be a good idea to aprroach a few in the area and see what their charges are.

xylophone

If you have no savings and (from what you say) are spending all your income, how are you going to pay the adviser?

we have no means of providing for our DC's.

Could you elaborate?

gterr

Had you thought about contacting the Money Advice Service, via your local Citizens Advice Bureau? Can't speak for your area, but here it's possible to book an appointment with the MAS via CAB, and it's free. They can look at your whole financial situation and help you see your true position, and make recommendations.

I used them when husband and I were having a big change of circumstances (selling a business, leaving employment, one of us sick) and it was useful to have someone evaluate our position and flag up dangers ahead. And as you say, your husband might listen to an outsider who is also an expert.

This is NOT the same service as a Financial Adviser would provide. It's more to do with looking at budgets and spotting potential shortfalls and ideas for dealing with these.

Might as well start with a free service. If it doesn't give you quite what you need you could move to a paid service afterwards.