LowerMyCharges has been set up to offer a revolutionary fresh alternative to traditional financial advisory firms. Our low charges mean that more of our clients’ money and investments can grow in the products they hold.
We believe that clients should have all the information available to them to make informed decisions, so we’re upfront about our charges. With a simple, fixed charging system, our clients can see from the outset how much they will pay and the impact this will have on their financial goals. Our business model means there are no initial charges, hidden costs or percentage fees.
The way we deliver advice
We provide high quality, low-cost financial advice delivered over the internet by real people, in real-time and accessed through your desktop, tablet or mobile. Because our advice is delivered remotely, we are able to keep our prices down, which brings the savings directly to you.
All our advisors are human as we believe robo advice couldn’t substitute for a human adviser. It’s down to understanding a client, understanding their goals, attitude to risk and their personal circumstances. Often, financial aims are intrinsically emotive, involving plans to support the next generation, leave a legacy or achieve a particular lifestyle. A preset group of questions simply can’t provide the understanding of an individual’s circumstances in the same way that a face to face conversation can (at least not yet anyway).
We are an independent business, not owned by any large financial institution. We only have your interests at heart. Our impartiality means that we have no vested interests in any recommendations we make. We don’t get paid from the products we recommend and we will not sell you anything. Our values stipulate how we operate. To understand more about what we stand for, please visit our values page.
How we get paid
Traditionally, the advice is charged as a percentage of the investment or pension fund held, ranging between 0.5% – 1.0% annually, usually with additional charges imposed for an initial advice call or meeting.
This percentage charging model means that exact fees are determined by the value of an investment or pension fund. If the fund grows so too will the fees. The exact fees are therefore subject to change, therefore, and investors can’t be certain how much they will be charged throughout the lifetime of the investment. Percentage charges can have significant impacts on investments.
Over 30 years, a £100,000 investment which achieved 6% growth per annum would grow to £432,000.
If an adviser charged 1% per year, the investor would be left with £324,000, with £108,000 lost as fees.
We always recommend that our clients pay our charges directly, just £27.50 a month which means that more of their investment has a chance to grow. We do also offer the option of taking our charges from their investment if clients prefer and will explain what impact this has on performance.
How we save and make you money
The compound effect of less money being deducted by charges and, at the same time, more money growing in a pension, savings or investment plan can amount to thousands of pounds over the products’ lifetime.
Book a discover call
Your free discovery call will last up to 20 minutes and we’ll use this time to understand your circumstances so it might be helpful if you have the details of any financial products you may hold ready to hand. We will explain how our service works and how we can help you achieve your financial goals. The call will be recorded for your protection and you are under no obligation to proceed. We are here to help.