Financial Planning – what does it cost?

You’re interested in Financial Planning, but want to know more about the core question – what does the financial planning service cost?

This page explains more and compares our services and costs with other typical services.

Woodruff Financial Planning manages my investment portfolio professionally and comprehensively, delivering regular updates and meetings to discuss investment strategy and progress. My investments have consistently risen in value registering an average increase of over 8% per year in the last 4 years despite the difficult trading conditions.

Jon Tayler – Investment Management client

How we charge for Financial Planning

For initial advice we charge 2% of the investments we manage up to £1 million and 1% for investments over this figure. For annual reviews we charge 1% of the investments. The initial charge is paid for up-front, and the annual reviews charge is deducted monthly. Our Financial Planning service is subject to a minimum initial and annual fee of £3,000.

We work with investments from £75,000 upwards. You can pay from your investments, or separately. If you have investments of £150,000 or greater you effectively get your initial Financial Plan for free. If you have investments of £300,000 or greater you effectively get your initial and annual financial plan for free.

Other financial advisers

Charges vary, but the typical financial adviser will charge 3% up-front and then 0.75% per year after that.

How it works in practice

Set out below is an example of how our charges work for a portfolio of £300,000 over 5 years compared to a typical financial adviser.

How the Financial Planning service charges work.

How the Financial Planning service charges work.

Here’s how these charges work cumulatively:

How the Financial Planning service charges work cumulatively.

How the Financial Planning service charges work cumulatively.

What you get for your money

Here we compare our service to a typical financial adviser.

What you get Our Financial Planning service Typical financial adviser
Comprehensive financial plan

Yes

No

Examination of various ‘what-if’ scenarios

Yes

No

Initial review

Yes

Yes

Annual report

Yes

Maybe

Annual meeting

Yes

Maybe

Quarterly valuations

Yes

Maybe

Quarterly portfolio discussion

Yes

No

Rebalance portfolio

Yes

Maybe

ISAs for free*

Yes

No

Fund alerts

Yes

Maybe

Tax calculations

Yes

Yes

Details to your accountant

Yes

Maybe

Further discussions at no extra cost

Yes

No

Financial & Investment eBooks

Yes

No

Investment videos

Yes

No

Weekly newsletter

Yes

No

Choice of payment options

Yes

Yes

*ISAs free when moving money from assets already managed by us.