A user has asked: Where can I find a UK wealth manager fee comparison?
Answer: This is a tricky one because there are so many different types of wealth manager, offering lots of different services in lots of different ways.
There are so-called digital wealth managers but they don’t really offer advice, rather provide a simple way to invest with different levels of risk.
There are old school wealth managers who provide a lot of advice and invest in funds offered by third parties. And there are also wealth managers who handle the entire process providing advice and invest your money in their in house funds.
Also, some clients require lots of advice about tax and planning, whereas other clients just need advice every now and again.
This means that as wealth managers look after so many different types of client, the fee structure for each would be very different. As such they do not publish their fees.
We have a wealth manager finder where you can request callbacks from different wealth managers and read interviews with their CEOs. We have also highlighted some questions to ask a potential wealth manager to make sure you don’t get stuck.
Remember as well that, on top of fees, when you engage with a wealth manager you may be dealing with them for decades so take your time and shop around.
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Richard founded the Good Money Guide (previously Good Broker Guide) in 2015 and has been a broker for 20 years most recently at Investors Intelligence and previously a multi-asset derivatives broker at MF Global (Man Financial). Richard started his career working as a private client stockbroker at Walker Crips and Phillip Securities (now King and Shaxson) after interning on the NYMEX oil trading floor in New York and London IPE in 2001 & 2000.