Your portfolio
advisers to focus on the wider
planning and strategy rather than
simply maximising assets.
“It puts financial planners on
a par with other professions like
accountants and solicitors,” she adds.
“It’s also straightforward and
stable, unaffected by markets and
more ethical. There’s also no cross-
subsidisation between clients and it
generally promotes more professional
behaviour in advisers.”
26 / 27
£3.4bn
– revenue from
ongoing adviser
charges in 2018
“It’s like traditional advice,” she
says. “It starts with finding out about
the hard facts from the customer,
such as their income, expenditure,
Fintech advice
investments and if they have any debt.
It is not just traditional financial
“And also the softer things – what
advisers who are getting in on the
they want to achieve. A lot of advice
act. Robo-adviser Nutmeg now offers
is helping prioritise objectives. It’s a
financial planning from £275, with a
lucky person who can do everything
more comprehensive service available they want to financially.”
from £575. Lisa Caplan, Nutmeg’s head After the consultation, clients are
of financial advice, says the company
given a copy of their financial plan
decided to offer the service in response and there is no requirement to invest
to the growing number of customers
with Nutmeg, although Caplan says
who either wanted someone to take a
it is simpler to execute if they do.
broader look at their finances, or just
Nutmeg then charges a fee on the
felt more comfortable meeting another percentage of the client’s portfolio for
human being face-to-face.
those that stay with the firm.
“There’s also no cross-
subsidisation between
clients and it generally
promotes more professional
behaviour in advisers”
All the answers
One argument against a one-off fee
is financial advisers don’t just offer a
one-off service, but will continuously
manage a client’s portfolio to account
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