Clients are prepared to pay more money for advice if they clearly understand what they are paying for and the value they receive.
The findings are from NextWealth’s latest Fee Benchmarking 2026 report, which explores how advice fees are evolving and how advised clients judge value.
It found that 91% of clients rate the advice they receive as ‘good’ or ‘excellent’ value. Client satisfaction was highest amongst those who say they fully understand their fee structure, with 97% of this group rating the value for money as ‘good’ or ‘excellent’ and 98% stating that they trust their adviser.
In contrast, clients who say they don’t completely understand the fee breakdown were far less likely to rate their advice highly. Only 50% believe they are receiving ‘good’ or ‘excellent’ value for money and 79% have trust in their adviser.
Emma Napier, consulting director at NextWealth, said: “When advisers bridge the understanding gap, clients move from questioning the cost to valuing the outcome. This is good news for our industry because it means clients are happy to pay for advice and accept increases if, and it’s a big if, they completely understand what they are paying for.”
NextWealth said almost half (45%) of clients had seen their advice fees increase in the last 12 months, with the average ongoing advice fee charged by advisers in 2026 at 83 bps, up from 77 bps the previous year. Almost one in five (17%) advisers say they plan to increase their initial fees over the coming year.
While AI has gained traction within advice, most advisers do not expect such tools to result in a reduction in the advice fee. More than half (51%) say AI will allow them to provide more value for the same advice fees.
The research also found that clients have clear minimum expectations as advice fees increase, with access to a dedicated adviser, ongoing access and human-led interim/annual reviews considered essential features.
Napier added: “The industry often fears that any increase in cost will alienate clients, but the data tells a different story. Price is rarely the primary sticking point; it is a lack of clarity that erodes trust. If you are a firm considering raising your fees, the ‘human-led’ experience and ongoing support aren’t just nice-to-haves, but the minimum expectations from a client.”
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