Luke Jensen May 1, 2024 - 6 min read

Financial advisor fees – how much does it cost?

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How are financial advice fees calculated?

Financial advice fees typically reflect the time and complexity of the advice being provided. Most financial advisors have moved to a “fee for service” model, where their fees are a reflection of the skill and expertise they offer and the time involved in the solutions they develop – much in the same way you would pay professional fees for a solicitor or an architect.

This is the model we adopt at Propel Financial Advice as a “fee for service” financial advice business. The fees charged for our advice are based on the time and complexity of the advice being provided, and are determined after we discuss and understand your needs and requirements. This model offers full transparency – you will know up-front what the cost of your advice will be, and you are under no obligation to proceed if you are not comfortable to do so.

Some financial advisors will also charge asset-based fees, which are based on a percentage of the total value of the assets in your portfolio. They may use a hybrid model which combines a fixed and percentage-based component, or they may purely charge on a percentage basis. Advisers may also charge an investment management fee, which is an additional percentage fee based on the performance of your investments.

At Propel Financial Advice, we don’t charge asset-based fees or investment management fees. Our fee-for-service structure reflects the provision of a professional service built on deep knowledge and experience, and our ability to develop effective strategies designed to result in meaningful outcomes. We deliver this to all our clients regardless of their portfolio balance.

Example average advice fees

A quick search on Google will yield estimates of average advice fees but the variance between clients and their individual circumstances and requirements is so broad that only a discussion with a financial advisor will provide a true indication of the cost of financial advice for you. Professional financial advice is highly personalised, and the fee charged should always be relative to the complexity of the advice required, the time involved, and the quality of the service being provided.

Our financial advice fee structure

We place significant emphasis on understanding you and your needs first, and therefore start with an initial discovery call. This gives you the opportunity to get to know us, and provides us with the opportunity to ensure we can genuinely assist you.

​We pride ourselves on transparency, and as such we don’t quote a fee for our advice or services until we have discussed and understood your needs in detail. Once we are able to quantify the degree of work required, if any, we can then explain our fees to you. If you are happy with the proposed service and the associated fee, we will proceed on this basis.

Advice Fee components

Our financial advice fees are based on the following components:

  • Plan (SOA) Preparation Fee: This is to prepare and present a statement of advice (SOA) outlining our recommendations
  • Implementation Fee: This is to cover the cost of implementing any recommendations.
  • Ongoing Advice Service Fee: If your needs require it, you may enter into an ongoing advice arrangement, where you pay a set monthly fee for our ongoing advice and service.
  • Ad Hoc Fees: From time to time clients may require a transaction to be completed, or some additional advice requirements. In these instances, we can charge a one-off fee for these needs.


If you have any questions about our fee structure or would like to make an appointment, please contact the Propel Financial Advice team.