Invoice templates for FCA-regulated financial planners billing clients for independent financial advice and planning services.
A financial planner invoice is issued by an FCA-authorised financial planner or independent financial adviser (IFA) to a client for regulated financial planning services. Financial planners in the UK must be authorised and regulated by the Financial Conduct Authority (FCA), hold the Level 4 Diploma in Financial Planning as a minimum qualification, and comply with the FCA's rules on adviser charging. Since the Retail Distribution Review (RDR) in 2012, UK financial advisers cannot receive commission from product providers. All remuneration must be fee-based, either as an initial advice fee, ongoing annual charge (expressed as a percentage of assets under advice), or a fixed fee for a specific piece of work such as a retirement review or inheritance tax plan. Financial planner invoices must comply with FCA requirements for disclosure of charges. Clients must have received a clear statement of what they will pay before advice is given (Initial Disclosure Document / Client Agreement). The invoice then reflects what was agreed.
| Service | Typical Rate | Unit |
|---|---|---|
| Initial financial planning advice | 1500 | engagement |
| Pension transfer or drawdown advice | 2500 | engagement |
| Annual review and ongoing advice charge | 750 | year |
| Inheritance tax planning review | 2000 | plan |
| Mortgage advice (purchase or remortgage) | 500 | case |
| Hourly advisory rate | 200 | hour |
Financial planners must ensure the fee charged on an invoice matches exactly what was disclosed in the initial client agreement or subsequent service agreement. Any discrepancy between disclosed and charged amounts is a regulatory issue, not just a billing query. For one-off advice, invoice on delivery of the Statement of Suitability and before any product transaction is executed. Some advisers deduct the initial fee from the product investment (facilitated advice fee), in which case the invoice documents the deduction rather than requesting a cash payment. For ongoing annual advice services, invoice annually in advance or quarterly. Set up direct debits wherever possible as this reduces admin and ensures a stable income stream. The ongoing service agreement must document what the client receives for the ongoing charge. Note that most financial planning advice fees are VAT-exempt under Group 5, Schedule 9 of the VAT Act 1994 as intermediation of financial services. Mortgage advice may also be exempt. Confirm your VAT treatment with your compliance officer before issuing VAT invoices.