How do advisers charge?
Since the Retail Distribution Review in 2013, advisers can't take hidden commission from providers. All charges must be agreed transparently upfront. Three main structures: initial advice fee (£1,000–£5,000 for a specific financial plan), hourly rate (£150–£300/hour), or ongoing adviser charge (0.5–1% of assets managed per year).
How much does mortgage advice cost?
Many mortgage brokers are free to the client — they receive a procuration fee from the lender (disclosed in your mortgage illustration). Some also charge a broker fee of £300–£500, though many waive this for straightforward cases. Nesto's matching service is completely free — we don't charge a fee for connecting you with an adviser.
How much does protection advice cost?
Life insurance, income protection, and critical illness advice is almost always commission-based — advisers are paid by the insurer, not you. The commission is built into the premium and doesn't increase your cost. Using an independent whole-of-market adviser ensures you get coverage from the best insurer for your needs, not just ones the adviser has relationships with.
Is advice worth paying for?
Research consistently shows people who take financial advice end up significantly better off. A Royal London study found advised people were on average £47,706 better off over 10 years than those who didn't take advice. For complex decisions, advice fees are almost always dwarfed by the financial benefit received.
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