Our Fees
Transparency and openness builds trust
Our aim is to help give clients clarity and peace of mind over their finances.
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Therefore, we believe that anything other than being completely transparent about what it costs to work with us, would go against everything we do.​
Below you will find details of the charges for our services which we hope you will find clear and easy to understand.​​
First Meeting
The first meeting with us will be a free, no commitment, informal discovery meeting which gives us a chance to get to know you and your circumstances and for you to get a feel for what it will be like to work with us. Following the Discovery Meeting, and if we agree to move forward to the next stage, our fees will be charged as follows: Fixed Fee to produce a Base Financial Plan Plan Implementation Fee Annual Ongoing Fees
Base Financial Plan
The minimum fee for producing your Base Financial Plan will be £1,250.00. This fee however will only be charged if we can demonstrate to you that we can add value to your circumstances. If we cannot, the charge will be waived.
Plan Implementation
We may make some recommendations as part of your financial plan, which could involve changes to your existing investment portfolios, for example such as the funds or platforms used for your Pension or ISA perhaps. Any advice, administration and set-up of these recommendations will be charged on a percentage basis of the amount of money invested, as detailed below: 2% on the first £200,000 1% on the remainder Please note, that where implementation fees apply, this will be inclusive of the £1,250.00 Base Financial Plan Fee.
Annual Ongoing Charges
Our annual fee for ongoing management of your financial plan is 0.75% of the funds invested through XV Wealth, subject to a minimum of £1,250.00 per annum. In instances where funds under advice are in excess of £1m, we will agree special terms.
How do our Fees Compare?
According to the Financial Conduct Authority (F.C.A.)* the average fees in the industry are as follows:
Initial Advice - 2.4%
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Ongoing Annual Advice - 0.8%
Annual Product & Fund Fee - 1.1%
Total Annual Charges - 1.9%
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Example:
If you were to invest £500,000 in one of our recommended 80/20 Equity Passive Tracker Portfolios on one of our recommended platforms, which has an ongoing charge of c. 0.28% the charges compared to the industry average would be as follows:​​​
Industry Average
XV Wealth
Initial Advice
£12,000
£7,000
Total Annual Charges
£9,500
£5,150
* Source: F.C.A. Evaluation of the impact of the Retail Distribution Review and the Financial Advice Market Review, December 2020.