How much does a retirement adviser cost?
Retirement advice can be a one-off planning project, an ongoing service or a combination. The fee should match the work you actually need.
What can an initial retirement fee cover?
Initial work may include gathering pension information, retirement modelling, comparing income options and producing a personalised recommendation. Implementation may be included or charged separately.
What can an ongoing fee cover?
Ongoing retirement advice may include withdrawal reviews, investment oversight, changing income needs and updates when circumstances or rules change. Ask what happens in a normal year.
Remember the other costs
Pension, platform and investment charges can sit alongside the adviser fee. Ask for each layer separately and the total expected cost.
Compare cash cost and service depth
Retirement portfolios can be large enough for small percentage differences to create meaningful annual cash differences. Ask about tiering, caps and one-off alternatives.