We believe that Real Financial Planning is for everybody
Our fixed-fee or subscription approach is transparent and based entirely on the complexity of your situation and the service that you choose.
As our company name suggests we are a LIFE-first financial planning buisness we believe that we provide a service therefore charge a service fee, we do not believe in benefitting from your wealth, as like many traditional financial advisors we do not charge a percentage of your investments or present you with complicated charging structures.
We believe our service is for everyone and not dependant on your wealth.
We do believe that our relationship and the work that we do should focus on you, your valuables and your goals, not your money. This is why we are one of a few buisnesses that operate a simple, fixed fee or subscription service that is based on the time and effort it takes us to guid you to make good decisions.
We are delighted to be part of the financial planning profession and this should not in any way be confused with or compared to traditional financial advice. We believe that charging fair, transparent fixed fee's will ensure we have an open and long relationship that will enable us to work together that improves your life.
This is very different from the norm in that the traditional financial advice industry were charging a percentage of your investments, regardless of performance or the work involved managing it and your plans is common place. Unfortunately this has made the expectation of the traditional financial advice industry concentrate on investments alone and caused an increasingly poor understanding. We have flipped this on its head and want to be measured by the impact the money has on your life, not on its relative performance agaist an index or benchmark.
Jack and Jill have assets (pensions, cash, ISA's) of £500,000 and are looking for some honest and open guidance to help them achieve the things they want to do in life.
Fee Type | Fee (%) | Fee (£) |
---|---|---|
Initial fee for Advice & Implimentation* | 2.4% | £12,000 |
Ongoing Advice & Investment Management** | 2.18% | £10,900 |
Year 1 Total | 4.58% | £22,900 |
*
FCA 2020 Survey Industry Average Initial Charge
**
Langcat Markey Report 2020 Average Annual Charge
Fee Type | Fee (£) | Fee (%) |
---|---|---|
Plan Fee | £1,500 | 0.30% |
Advice & Implementation | £2,500 | 0.50% |
Ongoing Advice | £3,000 | 0.60% |
Investment Management* | £3,000 | 0.60% |
Year 1 Total | £10,000 | 2.00% |
* This charge is or the platform, custody and investment portfolio. All these charges are not levied by us but by the platform provider and fund managers.
The above is for illustration purposes only and are not guarenteed.
If we proceed to give you regulated advice to implement your Lifestyle Financial Plan then you will pay a fixed fee of between £1,000 - £8,000, the exact fee will depend on the complexity of your situation, the work involved and will be agreed by us before any work is undertaken.
The most important part of the entire journey is the ongoing support. Understanding that life events happen and life goals change, we believe it is essential to maintain and monitor your Lifestyle Financial Plan every year with our Future Planning Meetings and Support Service. We operated a tier system based on the complexity of your needs.
Low Complexity
A portfolio of up to £1m+*
High Complexity
A portfolio of up to £2m+*
Extremely Complex
A portfolio of up to £2m+*
Once we have determined which tier you'll require, we'll charge you an annual fixed fee (paid monthly) to manage your Lifestyle Financial Plan, investment mandate and crucially you will have open access to the whole team, so we are here for you when things change. Simple, honest and transparent.
* The amounts are for illustrative purposes only and whilst they give a good indication of complexity and our fixed fee structure, the tier you fall into will be confirmed once we know you better e.g. if you have a portfolio of £1.4m but your needs are straightforward, we will only charge you tier 1 fees.
Within 30 minutes we can get to know you - your situation, goals and needs - then we can summarise how we can help you persue true lifestyle wealth.
Life Planning Ltd (registered number 11827257)
Life Planning Ltd. is authorised and regulated by the Financial Conduct Authority (No. 963468). Life Planning Services. provides non-regulated lifestyle financial planning and estate planning services.
The Financial Ombudsman Services (FOS) is an agency for arbitrating on unresolved disputed between regulated firms and their clients.
The content is developed from sources believed to be providing accurate information. The information in this material is not intended as financial, tax or legal advice. Please consult financial, legal or tax professionals for specific information regarding your individual situation. The opinions expressed and the material provided are for general information, and should not be considered a solicitation for the purchase or sale of any security.
Additional information about Life Planning and its planners is also available online at the FCA's register.