Financial advice can be useful whether you want to invest, make a purchase, manage your money more efficiently, or just prepare for the long term. The need for financial guidance is determined by a variety of factors. These may include the product or service you want, your objectives, the complexity of your demands, and your personal circumstances.
Financial advisers can help you with your financial situation throughout your life by offering a range of goods and services. Among these services, and IFA may offer guidance concerning investments, equity release, insurance, pensions, tax, estate planning and beyond.
There are many options for free financial advice out there. If you are unsure if you require guidance, you may schedule an appointment to find out what they can do for you. However, you should be very cautious about proceeding with free advice. It is worth noting, a free initial consultation and free ongoing advice are two vastly different things.
Our warning is against accepting free ongoing financial advice. This is because there are significant costs associated with running a well-regulated business. So, if someone offers you a free pension transfer you should think about it with scrutiny. Our CEO and founder, Dominic James Murray, covers this topic in the comprehensive video below. You can watch other straightforward explanations on other financial topics by visiting our YouTube channel.
How Could Anybody Possibly Be Working for Free?
Some firms might say they are paid from the marketing budgets of the companies they work with. But, in fact, they're being paid a secret commission that you will be unaware of.
Once you have transferred your pension, there is nothing more you can do. Typically, they are paid a large upfront commission, while you are locked into a fixed penalty term for 5–15 years.
We believe in the importance of cost transparency; which we have outlined on our costs page. All portfolios up to £1 Million receive a 1% ongoing fee. For portfolios above £1 Million, the annual fee reduces by .1% for every £1 Million.
We have a tiered cost structure for the set-up fee, starting with up to £250,000; we charge 3% for the set-up fee with a minimum of £3000. Between £250,000 and £1 million, we charge a 2% set-up fee. Over £1 million, we charge 1% of the set-up fee.
Note: we are now offering clients a 0.1% reduction in their ongoing costs for any client referrals that turn into business. Some clients, therefore, pay very low ongoing costs. Since these clients have generated further business, it is a win-win for both the client and us, Cameron James.
Why ‘Free Advice' Can Cost You Everything
At Cameron James, we work with intelligent clients: executives, directors, business owners. People who know how to ask the right questions and expect the same from us.
Naturally, they shop around. Many tell us they’ve spoken with firms offering “free advice” and wonder why we charge at all. Some even decide to walk away because our fees aren’t as low as these competitors.
We get it. Nobody likes paying fees. But here’s the reality: quality advice comes with time, qualifications, experience, and risk. When we work with lawyers or accountants, we expect a fee. Why should financial advice, especially something as complex as a UK pension transfer, be any different?
Let’s put it into perspective. If two builders quoted you for home renovations, one at £20,000 and another offering to do it “for free”, you’d be suspicious. And rightly so. You can fix a botched job on your house. A botched pension transfer? That damage can be permanent.
Some transfers take up to 80 hours of work across our compliance, admin, research, and advisory teams. So when another firm says they’ll do all that for free, ask yourself: How are they making money?
The answer is usually hidden commissions. Once you sign, a provider pays them a large lump sum. You’re locked into a product you didn’t fully understand, with long-term fees you didn’t see coming. We’ve seen it all before, clients returning years later after their pension value dropped, performance stalled, and costs piled up.
We charge because we’re transparent: because we work in your interest, not a product provider’s. And because we’re here for the long term, not a quick win.
Why Smart Clients Choose Cameron James Over ‘Free’ Advice
We hope this article has helped you understand why financial advice should never be free. If someone says they can transfer your pension without charging you, ask yourself: how are they getting paid?
At Cameron James, we are transparent about our costs because we believe in long-term value, not hidden commissions. Our regulated, qualified advisers dedicate time and expertise to ensure your financial decisions are sound and aligned with your goals.
Your pension is one of the most valuable assets you will ever own. Don’t risk it on ‘free’ advice that could cost you far more in the long run. Choose regulated, professional advice that puts your interests first.
Take control of your financial future today.
📅 Book your free initial consultation with a regulated adviser at Cameron James now. We’ll explain our fees, our process, and how we can help you make the right pension choices.