IFA charge - is this one usual?

Albermarle

So why an advisor when I could, and do DIY? 1) The IFA only has to do a couple of % better than me to pay for the charges. 2) I need advice on IHT, trusts etc which I am not so confident about. 3) My wife and children would need help when I pop my clogs.

This IFA vs DIY question come up time and time again on this forum and usually sparks pro and anti IFA posts ( usually always from the same people) .

https://forums.moneysavingexpert.com/discussion/6209132/how-do-i-sack-my-ifa-and-go-diy#latest

 Your points 2) and 3 ) point to that probably some professional advice would be useful and make you feel more comfortable . On Point 1) Investing is not just about achieving max % growth , it is about having a portfolio that suits your position , age, risk tolerance and  what you are trying to achieve  . Many investors for example , prefer some stability at the expense of maxing out growth . With some research , time and if you have a reasonable head for numbers/money then DIY is easier nowadays than it used to be , with on line platforms and low fees . Will always be difficult though to work out if it is best for you. 

dunstonh

dunston (as he often does) has got it right. I have clarified it with the IFA and challenged it verbally and now thanks to your help (I thought it might just be me! ) have written asking for my comments to be passed on to the company hierarchy.

This suggests it is a larger company and not a small local firm (as do your later comments).  Advisers in larger companies pass over a lot of their income to their employers.   Some models have the adviser earning little or nothing of the ongoing but a fair percentage of the initial.     Especially on clients where the firm passes the client to the adviser rather than the adviser bringing in the client.    

If we leave the company we have to find someone else to trust and of course they will charge 1% of the portfolio value and move it into different funds and a different platform.
I guess.

Not necessarily. A general practitioner IFA firm will have agencies/accounts with many of the platforms.    Especailly the mainstream ones.  If the new IFA has worse terms than the existing, you retain the old terms. If they have better terms, then you obtain the new terms.  If it needs a move of platform then that is not an issue nowadays.  Just an admin task.     Many IFAs will be more interested in the ongoing servicing side of circa £250k and may take a view on the initial or just have a nominal initial.