Advisers question viability of Bancroft's £500 per year advice fee model

New Welsh firm offers flat-fee model

clock • 3 min read

Advisers critical of Bancroft Wealth’s widely publicised flat-fee model have questioned how comprehensive a service it can offer.

The South Wales-based firm announced it would charge its clients £500 a year for financial advice regardless of the size of their portfolio, rather than charging on a percentage of assets, a story that the made national newspapers over the weekend. Bancroft Wealth founder Clive Russell, an IFA of 27 years, argued the model provided greater value for clients.    "The percentage-based fees charged by large, established wealth management firms come with guarantees of exponential growth, but only for the firms themselves," he said. "It's been well-documented how these opaque fee structure...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Your profession

Financial advice industry urged to do more for vulnerable clients

Financial advice industry urged to do more for vulnerable clients

Calls for more earlier identification of vulnerabilities

Isabel Baxter
clock 28 August 2025 • 2 min read
Advisers missing a 'share of wallet' trick

Advisers missing a 'share of wallet' trick

Aegon and NextWealth research suggests just a quarter track this

Jen Frost
clock 27 August 2025 • 2 min read
What's stopping the advice profession from attracting more young blood?

What's stopping the advice profession from attracting more young blood?

Chief reporter’s view: Calling my fellow Gen Z’s!

Isabel Baxter
clock 27 August 2025 • 4 min read