Let’s be clear about fees

From Solicitors to Accountants, to Financial Advisers and Wealth Managers, all professionals charge fees for their services.

We differ from many traditional Financial Advisers, not just in how we work, but in how we charge. Most Financial Advisers only charge % based fees on investments. This means they only get paid when you invest money. Unsurprisingly, this leads to advice that focuses relentlessly on markets, investment returns, and the accumulation of capital.

Whilst investment advice is important, we’re yet to meet people who are inspired by endless discussions about the minutia of markets. You’re much more than just the size of your portfolio, and it’s your life goals that should take centre stage. Good financial planning is as much about enjoying your money and spending with confidence, as it is about saving and accumulating capital.

Reflecting how we work, we charge a combination of fixed fees and lower % based fees. This means you pay us a standalone fee for our advice and expertise in creating and managing your financial plan. This enables us to set our investment charges below many of our peers. As the families we work with tend to have relatively large investment holdings, this means that in many cases our fees are lower overall than those of other advisers.

Another area where we differ is how clear we are about how we charge for our services. Research shows that only 5% of financial advisers publish their fees online. We’ve decided to be part of that small group, to demonstrate our commitment to transparency. We find that new and existing clients appreciate this approach.

Initial TELEphone call

No charge.

We will arrange a 20 minute initial phone call to find out more about you and your needs, and explain the fundamentals of our service and charges. This helps us to understand whether we may be suited to working together. We like to give everyone we encounter something positive they can take away, regardless of whether we move forward together. After our call, we can potentially arrange a full consultation, refer you to another professional better-suited to help, or leave you with information and guidance that you can use yourself.

Initial Consultation

No charge.

If it appears we may be a good match for one another, we offer a no-obligation consultation without charge. This is a thorough session held either face-to-face or via video call, usually lasting 90 to 120 minutes. This helps us gain a deeper understanding of you, your family, your goals, and your timelines. We also explain how our service works in detail, our onboarding process, and what charges would apply if we work together. We will write to you following this meeting summarising next steps should we agree to proceed.

Creation of a Holistic Financial Plan

£5,000 to £10,000. 

Having established your goals and timelines, we’ll carry out an in-depth review of all aspects of your finances, including any pre-existing plans and policies. We’ll then present our findings in a ‘strategy and planning meeting’, during which we use cashflow planning software to explore how best to deploy your financial resources to achieve your objectives. We then prepare a holistic financial plan detailing our advice in full, and present this in an ‘implementation and advice meeting’. Finally, with your approval, we implement the recommendations by setting up new products, or optimising existing ones.

Ongoing Financial Planning

£1,500 per annum, paid as a standing order of £125 per month.

You have direct access to the Wetherall’s team for ongoing advice, account maintenance, and administration, as we intermediate with your product providers on your behalf. You are provided with access to our secure client portal, a comprehensive app that allows you to view all your financial information in one place. We schedule a series of annual financial review meetings, during which we review your circumstances, objectives and the performance of any investments, to ensure everything remains on track. We provide you with a thorough financial report each year. This contains an overview of your finances, your progress towards your objectives and our advice on any adjustments that may be beneficial.

 Making a new investment

1.50% of the amount invested.

This charge applies to all new investments and pensions we establish on your behalf. This includes the reinvestment of existing policies or pension plans, if they are transferred to a new arrangement.  We only recommend transferring from one product to another, if there is a clear benefit after costs are accounted for.

This charge is reduced to 1% if the total amount of both new and existing investments exceeds £2m.

Ongoing investment management

0.65% per year of the value of your investments.

Your investments are kept under regular review. We make updates to your portfolio as and when required, to optimise performance. We ensure any investments remain appropriate for your objectives, aligned to your financial plan, and do not exceed the level of investment risk you are comfortable with.