Fees for investment advise

camperdown9

Hi

I am really new to this and trying to find out if this is normal.

I have been told that If I want investment advise I will need to pay two fees. One if for the advise and one as on ongoing annual fee.

Example

Assets to be implemented

Up to £75K then the fee would be £950
Between £75,001 and £150K the fee would be 1.3% with a max of £1500.

Then the ongoing fee is dependent on what product I go for.

Does this sort right? and if so are the above fees good, bad or average ?

Thanks

Alex

jem16

camperdown9 wrote: »

Does this sort right? and if so are the above fees good, bad or average ?

Thanks

Alex

Those are just your fees for advice. The initial fee sounds fine.

Do you want ongoing advice or are you just after one-off advice?

You will also have to include the annual management charge - ie the ongoing fund charge of the funds the adviser is recommending.

So yes what you have been told is correct. However it would be a good idea to find out what sort of ongoing charge you can expect.

grizzly1911

3% initial and 0.5% ongoing to the advisor in addition to platform fees and fund charges within the products taken has been quoted to me.

It is possible to just pay the initial fee on a transactional basis without the ongoing advisor fee.