Financial Advice Costs

Albermarle

but this will continue to be a big issue for me, particularly when I start to see that £50k has been withdrawn from my pot in a year, of which £10k has gone straight to my “wealth management consultant“.  Can’t see me being able to tolerate this when that time comes around!  

As mentioned by Artyboy, quoted below,  away from the investing side, are you getting ( or asking) for input from the advisor on other matters, that would maybe make them better value for money?

I'd be thinking estate planning, IHT, LTA management and the like - anyone with 'wealth management' in the name ought to be able to help with that!

For example, we have a lot of posters on the forum with large pots like you, who are  pretty confused about the Lifetime Allowance tax issue, and how it works and how hefty the tax charges are likely to be ( > £100K probably)

Malthusian

MarcoRolo said:

As artyboy says, I am looking at charges against the whole pot rather than the amount I might want to withdraw, but this will continue to be a big issue for me, particularly when I start to see that £50k has been withdrawn from my pot in a year, of which £10k has gone straight to my “wealth management consultant“.  Can’t see me being able to tolerate this when that time comes around!  

So when the consultant's fees are 20% of the amount you are drawing out, that is unacceptably high, but when they are infinity percent of the amount you are drawing out (nil), that is fine?
This is a good illustration of why comparing the adviser's fees with the amount being drawn out doesn't work. 
If you started drawing £80k out per year instead of £40k you wouldn't be paying half as much for advice.
What matters is whether you are getting enough value in return for your fees and whether you feel like you are getting enough value. Part of an adviser's job is convincing the client they are worth their fees. There is a bit of a taboo over it because it feels like "salesmanship" rather than "advice" but that's the job. 
It is of course possible that the client feels they are getting a raw deal because the client has overlooked something. In which case the client should ask the adviser to justify his fees, not carry on suffering in science. The adviser will give it their best shot, and hopefully the client will feel much better afterwards. Or they will still feel they are paying too much, in which case it is time for them to either negotiate their fees or part ways.