What you want to achieve
How to review your financial adviser or wealth manager
Good advice can be worth every penny. But many people have never checked what they pay, or what they get for it.
The challenges
- Not knowing the total cost in pounds.
- Performance reports that lack a fair benchmark.
- Ongoing fees for little ongoing service.
- Feeling unable to question a professional.
How a disciplined process helps
Get the full cost
Ask for a breakdown of adviser, platform and fund charges in pounds for the last year. Add them up.
Our guide to what you really pay explains each layer.
Compare performance fairly
Compare your returns after all costs with a low-cost fund of similar risk. Look at several years, not one.
Our pension and platform articles show how to benchmark.
Decide what you want to keep
You may value planning, tax help or peace of mind. You may also find you could manage some investments yourself with a clear process.
Our guide to whether you need an adviser helps you decide.
Where to start
- Guide: Do you need an adviser?When advice is worth paying for, and when a process of your own may be enough.
- Guide: What you really payEvery layer of charges explained, and how much they cost over time.
- St James’s Place pension reviewThe cost of comfort.
- What 1% a year really costsWealth management fees and their long-term effect.
Questions people ask
How much should advice cost?
Costs vary widely. What matters is whether you can see the value clearly for what you pay.
Can I leave my adviser?
Usually yes, though check for exit fees or product charges first.
Do you replace an adviser?
No. We provide education. Some people use it to manage their own money; others use it to work better with an adviser.
Important: this page is education and information only. It is not financial advice or a personal recommendation, and it does not take your circumstances into account. The value of investments and pensions can fall as well as rise, and you may get back less than you put in. Past performance is not a reliable indicator of future results. If you are unsure what is right for you, speak to a regulated financial adviser.