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PEF Bespoke

For those with significant assets or more complicated financial affairs
- an introduction to an independent financial adviser.

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Introduction

Research has shown that the average person who uses a professional financial adviser is £40,000 better off than someone who doesn’t. This number is only for the average person. For wealthier clients using above average financial advisers - these numbers will be far larger.

If you have significant assets or your affairs are more complicated (for e.g. in terms of tax - or particularly if you are approaching retirement), you may be interested in a face to face meeting with a professional financial adviser.

Since 2014, we have been introducing people to a select group of trusted financial advisers who can go through your whole financial situation to help you achieve your goals. We believe that our financial advisers provide exceptional value, quality of service and investment philosophy as against much of the UK market.

  • First, they will do all initial work on a no obligation basis. If you decide not to work with them, you will not be charged a penny.
  • Secondly, we will not work with any financial adviser who seeks to charge more than a maximum of 1% of client assets.
  • This compares extremely favourably with many of the larger UK financial advice firms with many charging as much as 5% of your assets (i.e. five times what our partners will charge) and as much as 2.3% per annum on an ongoing basis.
  • Finally, as you would expect, our IFA partners share our broad "own the world" investment philosophy. The same cannot be said for much of the UK financial advice industry, many of whom put their clients into funds which are insufficiently diversified by geography and by asset - thereby leaving them vulnerable to big market corrections in years like 2000 and 2008.

£100,000 minimum?

Our Bespoke service is aimed at those with c.£100,000 or more of investible assets.

This could include cash, equities, funds or pension assets. This number isn't fixed in stone but is broadly what our partners need from a prospective client for the relationship to work economically...

...to explain why this is in more detail:

The key point here is that anyone seeking to give specific, personalised financial advice in the UK, is required by law (by the financial regulator, the FCA) to conduct a detailed 'fact find' process with someone before they are permitted to give such advice. This fact find process is sometimes called a 'know your client' or 'KYC'. The idea is that a financial adviser must ensure they give 'appropriate' advice. This is obviously, quite rightly, aimed at protecting the consumer from bad or inappropriate advice to minimise the chance that people lose money, take on more risk than is appropriate for their circumstances or do something fundamentally silly like make investments whilst they still have significant expensive unsecured debt (such as credit card debt or a bank loan).

Conducting this 'fact find' process involves a fair bit of time and effort to say the least. There will usually be a face to face meeting in someone's home or office, or, at the very least, a long phone call or series of phone calls in order for the financial adviser to get the full understanding of that person's entire financial picture that they are obliged to get by law.

This will include income and expenditure, mortgage, other debts, any current investments, existing pension arrangements, attitude to risk, long term financial goals and so on. The adviser will then spend hours of their time in addition to this call or meeting to prepare appropriate, specific and personally-tailored recommendations on the back of that meeting or phone call.

The Advice Gap

This reality, however, presents a problem - and one that has attracted increasing press coverage in recent years: Something called 'the advice gap'.

The costs of being a financial adviser are significant - most particularly the costs of regulation and compliance, ongoing compulsory education and training every year, insurance costs, employing staff and travelling around the country to meet with people and learn about their financial situation and lots else besides. To make this work economically and actually make a living, therefore, the cost of this sort of personally tailored investment advice is necessarily quite high - and actually, sadly, prohibitively so for most people.

Many financial advisers in the UK charge significant sums to do the work I explained above UP FRONT (i.e. whether you work with them or not, after they have met with you). £1,000 or even £1,500 is not unusual.

To repeat what we said above: We work with a small number of financial advisers who have sufficient experience to understand and implement an 'own the world' approach to investment, who are willing to conduct an initial meeting and prepare their recommendations on a no obligation basis and who will work for a maximum of 1% per annum.

That is the good news. The bad news is that, because they are willing to do this (work on a no obligation basis) and because of the reasonably large amount of work they will do for someone and the costs involved in doing that work - at their risk - this service is only really appropriate for someone with total assets approaching about £100,000. This is very simply because:

  • We don't think people should pay more than 1% of their assets for this service (very competitive vs. most financial advisers in the UK market) and...
  • …it simply isn't economic for our partners to go to the all the effort of travelling around the country and doing a great deal of work for people for the chance to earn less than about £1,000. We have sent London-based advisers as far afield as Sunderland and Plymouth in the last two years (at their expense). Bear in mind that they will do all this work for people whether they become customers or not - so they have to price in a number of people who decide not to become clients in the calculation.
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“Using the Plain English Finance Bespoke service was quick and simple. The team are ever professional and most importantly they actually listened to my family’s long-term goals and worked hard to tailor an investment strategy that fits us...”
Mrs. Helen Tasker

What do we offer?

We have partnered a select group of independent financial advisers who will tailor an ‘own the world’ strategy to fit your exact personal circumstances.


This service is aimed at investors who have circa. £100,000 to invest due to the initial fees involved. Please see above for an explanation.

Face-to-face meetings

With a trusted wealth manager at a convenient location for you (UK only).

Bespoke advice and planning

Top down review of your current financial situation and provision of a bespoke plan to meet your financial goals.

Bespoke management

Setting up accounts for transactional services and ongoing service.

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Get in touch with our team now.

Arrange for one of our team to contact you to discuss how the Bespoke Service might help you.

PLEASE NOTE: this service is only appropriate for clients with circa. £100k to invest.

important Bespoke is priced based on your personal circumstances. You will not pay anything until you decide to invest.

Frequently Asked Questions

Is the Bespoke service appropriate for anyone?

Our Bespoke service is aimed at those with at c.£100,000 or more of investible assets. This could include cash, equity, liquid assets and pension assets, for example.

Is my first meeting free?

Once a member of the Plain English Finance team has introduced you to a trusted independent financial adviser, you will be entitled to a free, no obligation assessment of whether they can help you or not.

If I agree to go ahead with the service, what will I be charged?

What you pay will be a private agreement between you and the wealth manager, based on the complexity of your financial affairs but never more than 1% of your assets - which we believe is materially better value than much of the UK industry.

Can I speak to someone at Plain English Finance?

Certainly. Please feel free to contact us using the enquiry form above.