Our clients typically make significant savings versus other advisers. We take alook at some of the larger advice firms below:

Tilney / Towry / Bestinvest

Tilney (who acquired Towry and also maintain the Bestinvest brand) seem to have a myriad of charging structures, in part due to the various mergers in recent years. And while Bestinvest openly publishes its investment advice & management charges, Tilney(Towry) does not.

From our experience of former Bestinvest clients choosing to switch to us, most were using Bestinvest's investment management services at a cost of 1.20%-1.40% a year (fund charges in addition). Crucially though, this fee does not include financial planning advice.

As a guide, on a £500,000 portfolio we typically save such clients over £4,000 a year in fees alone, with the added included benefit of financial planning.

Brewin Dolphin

Brewin's tends to offer financial advice coupled with its investment management service. To its credit Brewin publishes fees on its website, but they are quite steep.

For new monies invested there is an initial charge of up to 2%, while the annual charge is 1.5% (fund charges in addition).

As a guide, on a £500,000 portfolio we would typically save clients over £5,000 a year in annual fees and significant amounts on new investments.

Chase de Vere

Chase de Vere does not openly publish its advice fees, but has disclosed via the Press that it charges a 3% initial fee followed by 1% a year (fund and platform charges in addition, the 3% falls on amounts over £250,000). Or, for those clients who pay by the hour, £250 and £80 for advisers and administrators respectively.

As a guide, on a £250,000 portfolio we would typically save clients around £1,000 a year in annual fees. And for a new £250,000 investment we would expect our initial fee to be around £5,500 less than Chase de Vere. From experience, we also find that our recommended platforms and portfolios also cost somewhat less.

Hargreaves Lansdown

Although best known for its DIY 'Vantage' platform service, Hargreaves Lansdown also has a financial advice service. You can view its fees here.

The annual advice charge of 0.365% looks reasonable for a £500,000 portfolio, although initial advice charges of between 1-2% can mount up. However, Hargreaves Lansdown uses its own investment platform and quite often its own multi manager funds too, both of which can prove expensive and push up overall cost.

From our experience of Hargreaves Lansdown advised customers switching to us, they would typically save several thousand pounds a year overall on a £500,000 portfolio.

Origen

Origen is one of very few financial advisers to openly publish its fees, but they are high.

Initial fees are high, at 2.75% on the first £250,000 progressively falling to 0.75% above £1.5m - all with an additional 0.25% 'implementation' charge. And the annual charge is 0.95% which bottoms out at 0.30% on amounts above £1.5m (crucially the lower fees don't apply to the whole portfolio, just amounts within that band).

As a guide, on a £500,000 portfolio we would typically save clients around £2,000 a year in annual fees. And for a new £500,000 investment we would expect our initial fee to be around £11,500 cheaper than Origen.

St James's Place

St James's Place is a little different to many advisers as it sells its own products and pays its advisers out of fund charges, much like the old commission system.

The fund charges are published on the SJP website, but how much SJP advisers receive from these is not. Unit trusts (which includes ISAs) have very high initial charges of up to 5%, with annual charges typically 1.60%-1.80%. Pensions have similar annual charges but no initial, albeit there is an unwelcome 6 year exit charge.

As a guide, on a £500,000 portfolio we would typically save clients around £3,000 a year in annual fees. And for a new £500,000 investment we would expect our initial fee to be around £23,000 cheaper than St James's Place (assuming they charge 5%).

We are happy to review existing arrangements from £100,000 to £5m and only take on clients when it's clear we can add value.

Just call us on 0203 397 7280 or drop us an email.