Can I negotiate financial adviser fees?
You can ask, but first make sure you understand the actual service and cash cost you are negotiating.
Can you ask for a lower adviser fee?
Yes, you can ask. Financial advisers set their own charges, subject to requirements that fees are clear and fair. That does not mean every firm will negotiate, and some use fixed pricing policies that advisers cannot change.
Start by understanding the quote
Before negotiating the percentage, ask what the fee covers, whether it is tiered or capped, what the year-one cash cost is and what the normal ongoing cost will be. A cheaper percentage is not automatically better value if the service is materially different.
Get more than one quote
MoneyHelper recommends contacting several advisers so you can compare costs and levels of service. A genuine alternative quote gives you much better context than negotiating against an industry average.