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How we charge
Acting in your best interest
We’re an independent financial planning firm that believes in serving you rather than selling you something. We must be clear and transparent about the costs you may incur, which is why we have chosen to display our fees on our website.
Before officially agreeing to become a client, we’ll provide a clear breakdown of our fees and what you will pay. No hidden surprises – just a straightforward understanding.
The information below will offer a great deal of insight; however, the only way to assess if our fees represent fair value is to talk to us and understand the huge benefits of entering into a long-term financial planning relationship. It’s not just about the fees; it’s about the value we bring to the table.
Financial Planning fee
After our Discovery meeting, we agree a Financial Planning fee with you to reach the point of the Deliver stage. This will only be paid on the rare occasion you don’t choose to enter into a long-term financial planning relationship and embrace the Develop stage.
The financial planning fee is based on the level of complexity of your unique situation. Our Financial Planning fees are based on our hourly rates as follows:
Financial planner
£250
Paraplanning and technical research
£100
Administration
£80
If you come fully on board, the Financial Planning fee isn’t invoiced as it is absorbed within the Implementation fee, which is a percentage of your assets that come under the Druthers’ wing. We do this because we believe it isn’t fair if we charge you twice for the same effort.
What’s included?
- Gathering and collating your information
- Crunching the numbers
- Analysis and initial reporting
- Cashflow modelling to visualise your future
- Creating your financial plan
- Meeting to discuss your plan
- Written recommendations
- Revisiting any recommendations
As an example:
Initial meeting and meeting minute follow-up.
£750
Gathering and collating information from your existing circumstances, products, policies, and investments and undertaking risk profiling.
£800
Analysis, initial reporting and research, including creating cashflow modelling.
£800
Prepare a Financial Planning report and recommendations for the next client meeting.
£1,400
Meeting to review the Financial Plan and recommendations.
£750
Post-meeting amendments to the Financial Plan and recommendations.
£300
Total cost in this case
£4,800
Initial Implementation fee
The Implementation fees are worked out on a regressive scale, with the percentage paid falling as the asset value increases. This is to reflect a fair value, as a flat fee would result in larger clients subsidising smaller clients. The Initial Implementation fee is subject to a minimum of £3,000.
Assets
Percentage of assets
Up to £500,000
1%
£500,000 – £2 million
0.5%
£2 million – £4 million
0.25%
More than £4 million
0%
What’s included?
- Structuring your finances to deliver on the plan
- Implementation of our recommendations
- Handling all the administration and paperwork on your behalf
- Regular updates to keep you informed of progress
As an example:
If the assets in your Financial Plan are valued at £750,000, the Initial Implementation fee would be 1% of £500,000 + 0.5% of £250,000 = £6,250 (0.83% of the total).
If the assets in your Financial Plan are valued at £1.5 million, the Initial Implementation fee would be 1% of £500,000 + 0.5% of £1 million = £10,000 (0.67% of the total).
Ongoing fee
We charge an ongoing fee to maintain and develop your financial plan, which is also worked out on a regressive scale, with the percentage paid falling as the asset value increases. This Ongoing fee is subject to a minimum of £3,000.
Assets
Percentage of assets
Up to £1 million
1%
£1 million – £2 million
0.75%
£2 million – £3 million
0.5%
£3 million – £4 million
0.25%
More than £4 million
0%
What’s included?
- Annual meeting to take you through the planning and review process
- Full review once a year, though we will meet more frequently should your situation dictate
- Updating your plan, if necessary
- Reviewing opportunities to enhance your affairs
- Identifying any threats
- Regular contact with your financial planner
As an example:
If the assets in your Financial Plan are valued at £750,000, the annual fee would be £7,500 (1% of £750,000).
If the assets in your Financial Plan are valued at £1.5 million, the annual fee would be £13,750 (1% of £1 million + 0.75% of £500,000).
The highest standards.
The
happiest clients
At Druthers, providing a five-star service is at the forefront of what we do. We take immense pride in the glowing reviews we've received from our clients, which you can read by clicking on the VouchedFor logo here.
Our clients tell us this approach is fair, simple, and transparent, and it is our clear preference, but if you wish to work on either a fixed fee or a time costed basis, we will always look to accommodate. The Implementation and Ongoing Financial Planning fees are the only fees paid to Druthers, so you know there is absolutely no potential conflict of interest in our advice to you.
One more thing, you need to know
We meant it when we said we’re transparent and upfront. In addition to the above fees, there are costs of the underlying tax wrappers where your assets are held and the investment management costs of maintaining the ongoing development of your plan.
These are driven by your circumstances and needs, so it is difficult to share the figures. At Druthers, we have an absolute obsession with keeping costs as low as possible without sacrificing quality. It’s not been a conscious effort, but so far every single client moving to Druthers pays less in total than their previous adviser.
Ian’s expertise gives us the comfort and assurance we need for our financial future
Richard and Susy Parkhouse
I think the most important thing for me working with Ian is that he's a really nice guy, he's a lot of fun, and he's one of the most honest people I've ever met in my life.
Nick and Minsi Rucker
Ian has been a comforting presence, handling my finances so I can navigate this transition with a little more ease.
Kate Pierce
