Our charges
Know what the advice will cost before you decide to proceed.
The amount you pay depends on the work required. We explain the scope of the advice and the relevant charges before you commit to a paid service, so you can decide whether the work represents value for you.
A free, no-obligation initial conversation to understand what you need and whether we can help.
Our approach to fees
Clear scope. Clear charge. No need to guess.
Different advice cases require different levels of work. A simple remortgage is not the same piece of work as retirement planning across several pensions and investments.
Charges agreed before paid work starts
Once we understand what advice is required, we explain the scope of work and the applicable charge before you proceed.
Set out in your client agreement
Your Personal Client Agreement records the services being provided and the relevant adviser charges or remuneration arrangements.
Understand what you are paying for
We explain whether a charge is for initial advice, implementation, mortgage work, ongoing service or another agreed piece of work.
How charges work
The way we are paid depends on the type of advice.
Advice charge agreed with you before proceeding
The cost depends on the scope and complexity of the work. We will tell you the charge that applies to your case before you commit to the advice.
Where an ongoing advice service is also appropriate and agreed, the ongoing charge is explained separately.
We do not present percentage examples from the old website as a standard tariff because the actual charge is the one agreed for your individual scope of work.
Typically a flat mortgage advice fee
£500 purchase · £99 remortgageThese are the typical mortgage advice fees currently stated by Patrick Wayne Wealth. The exact fee can vary depending on the type and scope of the mortgage work required.
Any applicable charge will be confirmed before we proceed with the mortgage advice.
Normally paid by provider commission
For non-investment insurance products, we will normally receive commission from the product provider rather than charging you an adviser fee upfront.
That does not mean the service is free. The cost of commission is reflected within the product arrangements and we disclose the amount of commission before an application is completed.
Only where an ongoing service is agreed
Ongoing advice is separate from the initial recommendation. Where you choose an ongoing review service, the service and charge are set out clearly before it begins.
The purpose is to review the financial plan over time as your circumstances, objectives, investments and relevant legislation change.
Paying an advice charge
How the charge is paid can matter too.
For pensions and investment advice, an agreed adviser charge may be paid directly or, where the provider and rules allow it, deducted from the relevant plan or investment.
We explain the available method before implementation so you can understand where the payment is coming from.
Pay the agreed charge separately
Where applicable, you can pay the agreed adviser charge directly rather than taking it from money being invested.
Deduct the charge where permitted
In some circumstances a provider can deduct the agreed charge from your pension or investment. Doing so reduces the amount remaining invested and therefore also reduces the amount available for future investment growth.
What the advice charge covers
The value is in the work behind the recommendation, not simply the final document.
The precise work varies by case, but a financial-advice engagement can include several stages before anything is implemented.
Understanding your position
Gathering the information needed to understand your goals, circumstances and existing arrangements.
Research & analysis
Assessing the existing position and researching appropriate options where regulated advice is required.
Recommendation
Explaining why a particular course of action is recommended, including the relevant costs, disadvantages and risks.
Implementation support
Helping progress agreed applications, transfers or other actions through to completion where included within the service.
Ongoing service
Initial advice and ongoing advice are not the same service.
Some clients need advice for a single decision. Others want an ongoing relationship in which the wider financial plan is reviewed over time.
If ongoing advice is appropriate, you will know what you are agreeing to.
The ongoing service and its charge are documented separately so you can understand what reviews and support are included.
If you do not require ongoing advice, we do not need to present an ongoing service as part of the solution simply because you have received initial advice.
Before you pay anything
The first steps should make the cost and scope easier to understand.
Initial conversation
We discuss what you are trying to achieve and whether we are able to help. There is no charge for the initial conversation.
Define the work
We establish what needs to be reviewed or advised on and the level of work involved.
Explain the charge
You are told the relevant fee or remuneration arrangement and how it will be paid before the paid service begins.
You decide
You can decide whether you want to proceed once you understand the proposed service and its cost.
Have a question about cost?
Tell us what advice you need and we can explain how the charges would work.
The initial conversation is free and does not commit you to paid advice. Once we understand what you need, we can explain the likely scope and the charge before you decide whether to continue.
Charges and remuneration depend on the service provided and will be confirmed in the relevant client documentation before you proceed. Investment values can fall as well as rise and you may not get back the amount originally invested.