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Ongoing Financial aAdvice

Ongoing financial advice

What is ongoing advice?

Ongoing advice is often suited to those who are busy or have complex needs, and want advice through financial planning.

Your adviser will help you navigate different parts of your finances over time. For example, instead of just getting advice on retirement planning and then managing things yourself, your adviser will continue to make recommendations based on your changing budget, savings, and investments throughout retirement.

It's about having a trusted partner to help you stay on track with your money goals for the long term.

Benefits of ongoing advice

  • Peace of mind - knowing that you have ongoing support and guidance from a trusted adviser can provide peace of mind, particularly during times of economic or personal uncertainty.
  • Annual reviews - formal meetings with your financial adviser to discuss your evolving needs and objectives.
  • Consistent guidance and support - advisers help you stay focused on long-term goals in market ups and downs.
  • Dedicated adviser - regular access to your adviser and their support team, allowing you to address new questions or concerns as they arise.
  • Adjustments as needed - your adviser can adjust your financial plan as circumstances change, such as life events, market conditions, or changes to regulation and tax law.

Your annual review

Annual reviews are like checkpoints in your financial journey, where you sit down with your financial adviser to assess how things are going.

These reviews are essential because life doesn't stand still, and neither do your financial goals. During these meetings, you'll discuss any changes in your life, like a new job, a growing family, or unexpected expenses, to ensure your financial plan still fits your current situation.

Your adviser will also review your investments to make sure they're performing as expected and adjust them if necessary to keep you on track to reach your goals. Think of it as fine-tuning your financial plan to make sure it's always working in your best interest. These annual reviews provide peace of mind, knowing that you have a dedicated partner helping you navigate life's twists and turns while keeping your financial future secure.

Cost of ongoing financial advice

In addition to the 1-2% one-off charge on the initial assets advised on, there is an annual fee of 0.365% (+VAT where applicable, and minimum charges apply).

This service is especially valuable during significant life transitions like retirement, changes in health or family dynamics, and during periods of evolving pension and tax regulations. Your financial adviser will determine if you could benefit from ongoing advice, based on your portfolio and circumstances.

Example of ongoing advice charges

Assets advised on Hargreaves Lansdown
(0.365% annual charge)
Largest UK advice firm
(0.5% annual charge)*
Market average
(0.64% annual charge)**
£100,000 £365 £500 £640
£275,000 £1,004 £1,375 £1,760
£500,000 £1,825 £2,500 £3,200

All figures exclude VAT. Your adviser will explain if VAT applies.

Sources: *Largest UK advice firm's website as at 1 May 2024, **NextWealth October 2023.

Summary of charges

Getting advice starts with one call

Getting advice starts with one call

The first step is to talk to our advisory service team. This initial discussion is to determine if our advisory service aligns with your needs and goals and would be a feasible option for you.

During this conversation, we'll ask straightforward questions to understand your financial objectives and the total value of the assets you're seeking advice on. No financial advice will be given at this point.

If our advisory service is the right fit for you, we'll connect you with one of our experienced advisers for a first meeting.

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