A fresh approach to fees
Our service is based on evidence, honesty, transparency, and fairness. We believe that if we are to earn your trust, then we must act in a trustworthy manner
A questions on fees...
If a financial adviser’s recurring income is heavily dependant on the ongoing performance of your investments, where might the focus be?
Here at Murphy Wealth the focus of our service is always you, not your money. And that’s why we charge a bit differently to other advice firms. We explain more about this later on.
There are two clear parts to our service. The first is the planning bit. This is the most important thing we do and it keeps our focus where it should be – on you, not your money. The other part of our service is the ongoing advice and maintenance of the plan.
It’s where we get to know all about you so that we can create a financial plan that’s as unique as you are. It’s the plan that gets you to where you want to be.
We don’t think it’s right to link the cost of your plan to the value of your investments. They are two separate things.
So for this part of our service we charge an initial fee in line with the work that goes into creating your plan.
If we ever recommend a financial product, like an investment, ISA, or a pension for example, we’ll only do so if it’s absolutely required to meet your aspirations set out in your plan.
Where we recommend a financial product, we’ll look at the whole of the market, find what you need, and keep all associated costs as low as possible.
The typical annual fee of our advice and maintenance of your plan equates to around 0.95% a year, or £950 on a £100,000 investment.
All in, the ongoing total cost to you comes in at around 1.5% a year. By way of comparison, the total costs from other advice firms are often 2.5% or more each year. Remember – this ongoing total cost of 1.5% is for everything; ongoing management of your plan, the personalised advice, the investment costs, and the cost of the technology platform we use to manage your money.
There's nothing hidden.
Our transparent and fair approach to costs and charges result in considerable annual saving to you that can be put to work to help you realise the future you want.
