Our Fees
Transparency and openness builds trust
Our aim is to help give clients clarity and peace of mind over their finances.
Below is a representation of our fee structure. We reserve the right to change prices depending on the nature and value-add of the work we undertake.
In all circumstances, you will be informed of all costs before consenting to any regulated advice work being undertaken.
1 / Lifestyle Financial Planning
The "Financial Plan” underpins our ongoing Lifestyle Financial Planning service.
Our minimum annual fee for this is £2,500 per family.
The cost of this is met by deducting an annual ongoing fee (taken monthly) from any investments we manage on your behalf.
The schedule of annual fees is:
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0.75% on the first £1,000,000 of invested assets
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0.50% on the next £1,000,000 of invested assets
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0.25% on the balance
Example: we advise on a client portfolio of £500,000, made up of ISAs, General Investment Accounts and pension funds. Our annual fees are £3,750
For those clients with small investment portfolios, the amount charged is determined by the size of the existing portfolio; likely future savings into the investment portfolio; our current minimum annual fee requirement etc.
2 / Investment Product Implementation
Typically, we do not charge for this. If we do, we will tell you in advance of the fact.
How do our Fees Compare?
Initial Advice Charge
£500,000
XV Wealth
£2,500
Industry Average
£12,000
The Difference
£10,050
Total Ongoing Charges
£500,000
XV Wealth
£5,950
Industry Average
£9,500
The Difference
£3,350
...this includes Fund, Platform and ongoing advice charges.
According to the Financial Conduct Authority (F.C.A.)* the average fees in the industry are as follows:
Initial Advice
2.4%
Total Annual Charges
1.9%
Ongoing Annual Advice
0.8%
Annual Product & Fund Fee
1.1%
* Source: F.C.A. Evaluation of the impact of the Retail Distribution Review and the Financial Advice Market Review, December 2020.
Other Ongoing Third Party Fees
For investments, there are two other elements to the ongoing charges you will pay, in addition to our annual fee:
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Firstly, fees levied by the custodian or "platform". This administers your investments, offers the tax-wrappers, provides tax-reporting information etc.
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Secondly, fees charged by the fund managers, who make the underlying investment decisions for your portfolio.
Life Assurance
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Life assurance advice costs can still be covered by commission from the insurance company concerned.
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We will refer you to protection specialist for any protection needs identified.
The Value of Advice
Research from Vanguard, published in The Value of Advice* showed that advised clients had improved outcomes ranging from 0.60% - 3.55% per client, per year, net of fees.