Guide · Asset level
How should you choose a financial adviser for £1m?
At £1m, small differences in ongoing percentage fees become large cash amounts, so service depth, tiers and caps matter.
Translate fees into pounds
0.5%£5,000 a year.
0.75%£7,500 a year.
1%£10,000 a year.
1.5%£15,000 a year.
What service are you actually buying?
At this level, an adviser may offer financial planning, retirement modelling, investment oversight and coordination with tax or legal professionals. Confirm what is genuinely included rather than assuming a higher fee means a broader service.
Ask about tiered and capped fees
A sensible comparison should show how the charging rate changes as assets rise. Some firms reduce the percentage on higher bands or cap the annual cash fee.
Look beyond a high-net-worth label
Ask which client situations the adviser handles most often, whether £1m is a normal client size and what specialist planning experience is relevant to your needs.
Sources & further reading