PWS charges fees in three ways; a fixed fee to produce your financial plan, a fixed ongoing fee to review this plan and an ongoing fund-based fee to review your portfolio. The fees you pay will be determined by the services you ask us to provide.
Our fees are designed to be fair and easy to understand. There are no exit charges, no hidden fees, no funny business. Most importantly, you get the chance to test the quality of our work before you pay us a penny.
We suggest an informal meeting to begin with at no charge. This helps both parties establish whether we are a good fit to develop a professional working relationship. We can discuss our fees in detail here.
Our fixed fee for producing a standard financial plan involving a basic review of each area of planning (retirement, estate planning etc.) is £1,500. This involves the following:
Creating a lifetime financial forecast to find out what you could achieve.
Assessing the level of investment risk you should take.
Assessing the suitability of any financial products you hold.
Selecting suitable investment portfolios.
Selecting tax-efficient investment vehicles.
Estimating your Inheritance Tax position now and in the future.
Completing and administering documentation.
Liaising with providers.
Carrying out fund switches.
Ensuring you are invested as quickly as possible.
Keeping you informed of progress.
The basic fee will increase by £1,000 for each of the following if they need to be present within the plan:
More than three non-standard pension or investment plans (ones we have not recommended you take out) needing a review.
Planning to take income from your plans soon.
Specialist planning such as Lifetime Allowance planning, IHT planning, Carry forward analysis etc.
Third parties such as external fund managers, businesses, trusts or charities.
Dealing with a Defined Benefit Transfer counts as four specialist areas and adds £4,000 to the fee.
So, if someone had a financial situation that involved more than three non-standard plans and a carry forward calculation, the fee would be £3,500 (Basic fee of £1,500 plus 2 x £1,000)
Your Financial Planner will advise you on the fee level given your situation. We only ask for payment after the work has been done and you are 100% happy with Your Financial Plan.
Financial Planning Advice
Once the initial financial plan is in place, our ongoing advice and services aim to keep you focused on meeting your goals. Naturally, aspects of your finances and your life will change over time.
Our ongoing advice and service helps our clients adapt their planning to these changes before and after they occur. For most clients this includes:
Access to our portfolio advice service.
Help with paperwork and other administrative matters.
Access to your financial planner via email and telephone during office hours.
Annual planning meetings with your Financial Planner.
The fee for this is £156 pm (£1,872 p.a.) for one meeting a year or £249 pm (£2,988 p.a.) for two meetings a year. This fee will increase by £1,000 for each specialist area which needs to be incorporated into the plan.
So, if someone had a requirement to review a financial plan and this involved looking at taking an income from the portfolio and two meetings a year, the cost for this would be £3,988 p.a. (Basic fee of £2,988 plus £1,000).
Each complex area usually requires a meeting, so we do not, for example, offer one meeting a year if the planning involves two complex areas.
Portfolio advice fees
In addition to any financial planning fees, we will levy an annual fee of 0.25% of any money invested in a portfolio on which we need to provide regular support and advice. Ongoing financial planning advice needs to be in place before we can offer ongoing advice and support on portfolios.
If the client from the example above had £1,000,000 invested in a portfolio that needs a regular review, our charge for this would be £2,500 (0.25% x £1,000,000). This would take the overall cost of advice to £6,488 pa. This equates to 0.65% of the overall portfolio.
We cap our ongoing fees at 1%. To do this we may pro-rata some of the services offered. An example might be reviewing a plan every 18 months rather than once a year.
In addition to our fees, there may be additional charges associated with the funds we recommend, the structures or pensions we invest in and/or the wrap platform (also referred to as custodian fees).
Where applicable we will inform you of the costs that will affect your investment and pensions. The specific amount you will pay depends on the portfolio you are invested in, the exact services you ask us to provide and the amount you invest with us. Using the example above if the client in the example above invested their money into our portfolio 4 using the Abrdn Wrap, the additional costs would be as follows; costs of underlying financial instruments 0.25% (£2,500) and wrap costs 0.15% (£1,500). Including the PWS fee of £6,488 per annum gives a total cost of ownership of 1.05% (£10,488 on a £1,000,000 investment).
We will always aim to deliver an overall level of costs that is below the average cost associated with wealth managers across the country. We will also aim to deliver to add far more value than a simple wealth manager could deliver via robust financial planning.
What our clients say
We’re incredibly proud of the work we do. Here are the real words of real clients.
Matt has been my financial adviser for many years. During this time, he has always made himself available to advise on any matters that I have been concerned about. He has become a valued friend, with a wealth of financial knowledge.
Twenty years ago, my accountant recommended Matt Webb as a first-class financial adviser and that has proved to be the case. He is always courteous and ready to explain any questions I may have.
Matt has been our financial adviser for a number of years now and we look forward to working with him for many years to come. His expertise, advice, guidance and reliability has been at the heart of the trusting relationship from which we benefit.
I suffered a stroke at 58 and had to stop working to focus upon my recovery. PWS’s input was invaluable. They convinced me and my wife that we had amassed sufficient wealth to enable early retirement. I am now 61 and have made a full recovery and enjoy my retirement in the knowledge that I have a “financial partner” in PWS to allay my natural anxiety given the uncertainty we all have to navigate.
Matt has a very good understanding of his clients’ needs and nothing is ever too much trouble. Matt is very knowledgeable and explains everything clearly and in sufficient detail to enable an informed decision to be made. He deals with everything quickly and efficiently and responds promptly to every query. I wouldn’t hesitate to recommend Matt to anyone seeking any form of financial advice.
I have used the services of PWS for over ten years now. I have found their services and advice to be clear, efficient and prompt at all times. It has been refreshing to work with a company that is proactive and gives peace of mind that you really are receiving considered advice that specifically suits individual needs. I have had no hesitation in recommending PWS to personal friends as well as colleagues. Thanks Mo and your exceptional team - see you soon!
I was introduced to Steve in 2008. I genuinely trust and appreciate the professional advice given to me and my family. The ongoing investment and pension advice has been invaluable through the good and the bad times and I have had no hesitation in recommending Steve to family and friends.
PWS Financial Consulting Ltd have been our financial advisers since 2005. They have always offered sound financial advice based on our investment objectives as well as our personal needs. They keep in regular contact and provide us with ongoing financial advice as our needs and markets change. They take the time needed to fully explain our options and to guide us in an appropriate direction. We feel as though they truly care about us, our finances and our future.
(Mohit) Thank you so much for helping me by sorting out my retirement, pensions and general finances. You managed to improve my financial gains through astute financial management, and greatly help reduce my losses during the crash a number of years ago. It helps so much when you speak in a down-to-earth manner, which assists my decision-making going forward.
Having been a client of PWS for over 20 years, I cannot recommend them too highly. The levels of professionalism and product knowledge are excellent. They are fully interested in client and family circumstances and provide continuity of personnel which is crucial for client comfort. Their fees are realistic, and they make ease of consultation a priority. I would not hesitate to recommend their services.
I have been fortunate enough to have Matt as my financial adviser for over 10 years and during this time he has seen me and my husband through some major life events. These have included my own unexpected ill-health retirement and also for my husband, his cancer diagnosis, financial planning around this, his retirement and subsequent death. Throughout everything Matt has always been very personable, thorough, informed, efficient, responsive and has always dealt with us with great care and understanding, giving tailored advice to our own specific situation. Matt’s advice and support have made very difficult moments in our lives more manageable and have given me and my family a great base for a financially safe and comfortable future. I would not hesitate to highly recommend Matt as a financial advisor and I am very grateful that he has looked after us so well for so long.
Get in touch
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