Quarter of firms demand monthly retainers, finds study

A survey of 150 independent financial advisers by website Unbiased.co.uk found 28% charge a monthly retainer, with £30 being the median figure. It noted that retainer clients would usually end up paying lower fees for advice. Meanwhile, the median for fees charged was £150 per hour, while the median amount charged for an initial financial review was £495. Only 21% of the advisers surveyed said they have a minimum investment, requiring a median amount of £25,000. Unbiased also came up with some fees charged for typical scenarios advisers deal with: Advice on a £500 a month p...