Why Transparent Financial Advice Fees Matter
At LFP Asset Management, we believe clients should clearly understand how financial advice charges work, what services are included, and how ongoing professional advice can add long-term value. This is why transparent financial advice fees matter to us and our clients.
We aim to keep our charging structure transparent, straightforward, and fair. We always discuss and agree charges in advance before starting any work.
As an independent financial adviser, we provide advice across a wide range of areas including pensions, investments, retirement planning, inheritance tax planning, and ongoing portfolio management.
The level of work involved can vary significantly depending on the complexity of a client’s circumstances, which is why some charges are shown as ranges or percentage-based fees.
How Our Financial Advice Service Works
Our advice process is designed to help clients make informed financial decisions with clarity and confidence.
This typically includes:
- Understanding your objectives and financial circumstances
- Reviewing existing pensions, investments, and arrangements
- Assessing risk tolerance and investment preferences
- Researching suitable solutions and providers
- Preparing personalised recommendations
- Assisting with implementation where required
- Providing ongoing reviews and support
For many clients, ongoing advice also provides reassurance during changing market conditions. In addition, it helps ensure arrangements remain suitable over time.
What Is Included In Ongoing Financial Advice
Depending on the service selected, ongoing advice may include the following services:
- Regular portfolio and pension reviews
- Ongoing suitability and risk assessments
- Access to your adviser throughout the year
- Retirement and withdrawal planning reviews
- Tax-efficient planning discussions
- Investment and pension administration support
- Assistance with provider queries and paperwork
- Portfolio monitoring and market updates
The exact level of ongoing service will depend on individual requirements and the nature of the arrangements in place.
Transparent Adviser Fee Structure
The following table provides a summary of our standard charging structure for financial advice and related services.
Charges may vary depending on the complexity of the work involved, the level of service required, and whether advice is ongoing or transactional in nature. However, all charges will always be explained clearly before any work proceeds.
Any charges applicable to your circumstances will always be explained clearly and agreed with you before proceeding.
Financial Advice Charging Examples
The following table provides a summary of our standard charging structure for financial advice and related services. However, charges may vary depending on the complexity of your circumstances and the level of service required.
| LFP Asset Management Transparent Adviser Fee Structure | |
| Hourly Rates | |
| Office Rate | £150 per hour |
| Out of Office Rate | £225 per hour plus mileage @ £0.35 per mile |
| Pensions & Investment Advice | |
| Investment Report | £250 to £2,500 |
| Lump Sum – Investments & Pensions | Initial fee On the first £100,000 3% On the next £400,000 1% Above £500,000 0.5% Minimum initial fee £1,500 Ongoing fee Up to £49,999 1% p.a. £50,000 to £99,999 0.75% p.a. £100,000 to £999,999 0.50% p.a. £1,000,000 to £1,499,999 £5,000 p.a. Over £1,500,000 £5,500 p.a. plus £500 p.a. per £500,000 |
| Lump Sum Execution Only | 2% initial fee only (min fee £250) |
| Regular Contributions | 20% of first six months contributions (min overall fee £250) plus fund related fee up to 1% pa |
| Transfers to Existing Pension Plans | 1% (min £500) plus ongoing adviser fee |
| Top-ups to Existing Investment & Pension Plans (non-advised) | £50 admin fee |
| Income Drawdown Services | |
| Drawdown | Initial fee On the first £100,000 3% On the next £400,000 1% Above £500,000 0.5% Minimum initial fee £3,000 Ongoing fee Up to £49,999 1% p.a. £50,000 to £99,999 0.75% p.a. £100,000 to £999,999 0.50% p.a. £1,000,000 to £1,499,999 £5,000 p.a. Over £1,500,000 £5,500 p.a. plus £500 p.a. per £500,000 |
| Transfers to Existing Pension Drawdown Plans | 1% (min £750) after payment of tax-free cash plus ongoing adviser fee |
| Annuity Advice | |
| IVPP / OMO – Standard Annuity | 1.5% of annuity purchase price (min fee £500) |
| IVPP / OMO – Medically Underwritten Annuity | 2.0% of annuity purchase price (min fee £750) |
| Other Financial Planning Services | |
| Bed & ISA (non-advised) | £100 |
| Switch into ESG funds – same platform (non-advised) | £100 |
| Switch into ESG funds – change platform (non-advised) | £250 |
| Pension crystallisation full or part (non-advised) | £250 |
| Pension crystallisation full or part (advised) | £750 |
| V17 221225 | |
Understanding Our Charges
In many cases, clients prefer a combination of initial and ongoing advice services. Therefore, we aim to keep our charging structure transparent, straightforward, and easy to understand.
Additional Information About Charges
In addition to adviser charges, some products and investment solutions may also include charges from:
- Investment platforms
- Discretionary investment managers
- Underlying fund managers
- Product providers
Important Information
Importantly, we always provide full details of charges and costs before implementing any recommendation.
Please note that investments can fall as well as rise in value and past performance is not a guide to future returns.
We understand that financial advice charges are an important consideration. Therefore, we aim to ensure our fee structure remains transparent, fair, and proportionate to the level of service provided.
Importantly, we believe clients should fully understand the services they receive and the charges they pay before making any financial decision.
In addition to the information above, the following frequently asked questions may help explain how our services and charges work in practice.
Frequently Asked Questions
In many cases, there is no charge for an initial discussion and information gathering meeting. We explain any applicable charges in advance.
Yes. Some clients require ongoing advice and review services, while others may prefer one-off or transactional advice only. Therefore, we offer flexible service options depending on individual requirements.
Depending on the type of service provided, charges can usually be paid directly or deducted from investments or pension arrangements where permitted. In addition, we will always explain payment options clearly before proceeding.
Yes. Some investment platforms, pension providers, discretionary fund managers, and investment funds may apply separate charges. These will always be disclosed clearly.
Yes. We provide both ongoing advice services and one-off advice depending on client requirements. This means clients can choose the level of support that best suits their circumstances.
Ultimately, our aim is to provide clear, transparent, and professional financial advice that represents fair value for clients.
Furthermore, we encourage clients to ask questions at any stage so they fully understand the services provided, the associated costs, and the ongoing support available.