How do financial adviser charges work?
In financial services, there are quite a few different ways that businesses charge for the services they provide. There is the hourly rate option; this might vary depending on a financial adviser’s qualifications or their type of business. Some firms also charge a set fee for a piece of work which can vary depending on the size of project. Most financial advisers including Unividual, offer a hybrid between the two to ensure clients get value for money and it is fair for all clients. There is what the industry terms as an “initial charge”, which covers the costs of financial advice or a particular project, and an “ongoing charge” which pays for the continuous servicing of your finances.