A survey of 150 independent financial advisers by website Unbiased found 28% charge a monthly retainer, with £30 being the median figure.
It noted that retainer clients would usually end up paying lower fees for advice.
Meanwhile, the median for fees charged was £150 per hour, while the median amount charged for an initial financial review was £495.
Only 21% of the advisers surveyed said they have a minimum investment, requiring a median amount of £25,000.
Unbiased also came up with some fees charged for typical scenarios advisers deal with:
| Advice on a £500 a month pension contribution | £600 |
| Advice on a long term care product | £600 |
| Advice on arranging a £200,000 equity release mortgage | £1,000 |
| Investment strategy advice on a lump sum of £25,000 | £750 |
| Advice on setting up a stocks and shares ISA | £350 |
| Advice on setting up life assurance policy | £500 |
| Advice on a £300,000 residential mortgage | £500 |
“These figures can be used as a general guide – as these guide prices could differ depending on circumstances or the different pricing models that IFAs can use,” an Unbiased spokesperson said.
“Fee calculations are very much dependent on the type of client, their needs and the level of advice they require (someone just needing some advice on a life insurance policy will be paying a different hourly fee than someone needing advice on a large investment and retirement savings portfolio etc).”
