Low financial advice fees can offer good value. However, the price alone cannot tell you whether the advice is suitable, the service meets your needs or the agreed work will be delivered. It’s important to understand why low fees alone don’t guarantee good advice when choosing a financial adviser.
I like Lego. Part of what I enjoy is the experience: opening the box, following the instructions and seeing something take shape.
There are cheaper construction sets available. Some may offer an enjoyable experience too. But when comparing them, I would want to understand more than the price. How well do the pieces fit? Are the instructions clear? Will I enjoy building it?
That is a useful starting point when thinking about financial advice.
In our first two October insights, we explored how financial planning fees work and what fair value means. This final insight brings those ideas together.
Fees matter. So does understanding what you receive for them.
What are you paying a financial adviser for?
When we speak to a solicitor or accountant, we generally accept that we are paying for professional knowledge, judgement and responsibility.
Financial advice involves those things too.
Which?, in its September 2026 guide, reports an average hourly financial advice fee of £205, based on VouchedFor’s 2026 data. This is a reference point rather than a standard tariff: charges vary with the adviser, the work involved and the payment method.
Comparisons with other professions need care. Specialist legal or accounting work may be very different from an ongoing financial planning service. Government-published solicitor hourly rates, for example, are guidelines for assessing court costs, rather than a general price list for legal advice.
The useful comparison is that each professional brings expertise to decisions where mistakes can have lasting consequences.
A financial planner’s work may help you understand when you could retire, how to organise your investments or how to support your family without putting your own future under pressure.
You are paying for the work and judgement behind the recommendation, as well as the explanation you receive.
Qualifications matter, but learning continues
The routes into financial advice, accountancy and law differ. It would be misleading to suggest that they take the same time or involve identical examinations.
Nevertheless, each has professional requirements.
| Profession | Examples of qualification requirements |
|---|---|
| Retail investment adviser | An appropriate qualification, generally at Level 4 or above, and assessment of competence |
| ICAEW Chartered Accountant | Professional examinations and at least 450 days of practical work experience under the ACA route |
| Solicitor in England and Wales | Under the standard SQE route, a degree or equivalent, SQE assessments and two years of qualifying work experience |
These are summaries of particular routes; exemptions and alternative pathways can apply.
Retail investment advisers must also hold an annual Statement of Professional Standing and complete at least 35 hours of continuing professional development each year, including 21 structured hours.
For some advisers, qualifications follow university. Others enter through apprenticeships or a change of career. Many continue studying beyond the minimum requirements.
Qualifications provide a foundation. Experience, listening and applying that knowledge to your circumstances are also important.
However, qualifications alone do not justify any fee. The service still needs to be suitable, delivered properly and reasonably priced.
Does a lower advice fee mean better value?
Imagine two firms: one charges 0.5% a year and the other charges 1%.
On a constant portfolio value of £300,000, those advice fees would be £1,500 and £3,000 a year respectively. That is a meaningful difference and deserves consideration.
The next question is what each service includes.
Do both offer the same planning work? How often will they review your circumstances? What support is available between meetings? Are there additional charges for changes or particular pieces of advice?
The lower fee might reflect an efficient business delivering everything you need. It might also cover a narrower service.
The higher fee might include support you value. Equally, it might offer little that justifies the additional cost.
Neither price proves the answer. You need to understand the service behind it.
Can technology make advice better value?
Yes. Technology can reduce administration, make information easier to access and help an adviser spend more time on planning.
A video meeting may be more convenient than travelling to an office. An online portal may make it easier to find your documents. Some people prefer those arrangements; others value meeting in person.
The question is whether the approach works for you.
Does the technology make the service easier to use? Can you still speak to someone when you need help? Are explanations clear and accessible?
A lower-cost service using technology can offer good value. A more personal service can also use technology well. What matters is how the whole experience meets your needs.
Look at the total cost of investing
The advice fee is only part of the picture.
You may also pay platform charges, investment fund charges, portfolio management fees and transaction costs. Some costs are included within others, so ask for a clear breakdown without double-counting.
A lower advice fee does not necessarily mean a lower overall cost if the investments or platform are more expensive.
Equally, reducing platform or investment charges can be a real benefit. Where suitable arrangements provide the features and support you need at a lower cost, more of your money remains available for your goals.
The important point is transparency. You should understand which charges have changed, why they have changed and whether the proposed arrangements remain suitable.
Where Manning Gee fits
In our previous insight, we used the example of different cars sharing a common engineering platform. Their foundations may be similar, but the experience and suitability differ.
At Manning Gee, we are comfortable being the option that fits a particular person’s needs.
Our focus is on people who want help bringing their financial lives together. They may be building towards retirement, managing income in retirement or thinking about how to support their family.
They often want someone to organise the details, explain their choices and keep the plan under review. They do not necessarily want to spend their time following markets or managing every financial decision themselves.
We research the investment solutions we recommend and consider their suitability, risks and costs. Alongside that, we focus on understanding what your money needs to do for you.
Our published ongoing advice fee is 1% a year, with platform and investment costs explained separately.
We charge for the service we commit to providing. Our responsibility is to deliver it and keep assessing whether it offers fair value.
Ask what changes when the fee changes
If a firm reduces its fees, it is reasonable to ask how it has achieved that.
Perhaps it has improved its processes or negotiated lower costs. Perhaps the service has changed. Understanding the explanation helps you decide whether the arrangement works for you.
The same scrutiny should apply when fees rise.
Before choosing a financial adviser, ask:
- What work and support does the fee include?
- What will I pay in total, in pounds as well as percentages?
- Which services cost extra?
- Who will I speak to when I need help?
- How will you review whether my plan remains suitable?
- What happens if I no longer need the ongoing service?
Under Consumer Duty, fair value involves a reasonable relationship between the price paid and the benefits clients can expect. A service that does not meet their needs is unlikely to offer fair value, regardless of its price.
Find the right service for you
Across these three insights, we have returned to the same starting point: understand the cost, understand the service and consider whether it fits your life.
A low fee can be attractive. A higher fee needs a clear explanation. In both cases, you should receive what was promised.
At Manning Gee Investments, our financial planning service normally starts from £100,000 of investable assets. We work with individuals, families and business owners in Bristol and across the UK.
If you would like help understanding your financial options, arrange a free initial conversation with us. We will listen to what matters to you, explain how we work and discuss the costs. You can then take time to decide whether our service is right for you.
General disclaimer: We sourced the data from external providers. While we strive for maximum accuracy, we cannot guarantee the reliability of the data they supply. The author writes the introduction from their perspective, reflecting their views, which may not align with those of Manning Gee Investments. Anyone considering a product or service based on this blog should seek professional advice or conduct their own research before deciding. The author bears no liability for decisions made based on this blog. Investments can rise and fall in value, and the return at the end of the investment period is not guaranteed—you may receive less than you originally invested.
Update: October 2026
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