How Much Money Do You Need For Financial Advice?

“Wise men don’t need advice. Fools won’t take it” ― Benjamin Franklin

3 min read

How Much Money Do You Need For Financial Advice

How Much Money Do You Need For Financial Advice?

“Wise men don’t need advice. Fools won’t take it” ― Benjamin Franklin

3 min read

Financial advice is often perceived as a service reserved for the wealthy. But is that really the case? Whilst it may seem obvious that with increased wealth comes an increased need for advice, Patterson Mills are here to dispel the myths and misconceptions surrounding financial advice, exploring its accessibility, costs, and the value it brings, regardless of your financial standing.

The Accessibility of Financial Advice

Contrary to popular belief, financial advice is not exclusively for high-net-worth individuals. In recent years, the financial advisory landscape has evolved, offering various avenues for seeking guidance. From robo-advisers to fee-based Financial Planners, there are options tailored to different financial situations and budgets. Understanding these options is crucial in debunking the notion that financial advice is out of reach for the average person.

Costs and Considerations

The cost of financial advice varies based on multiple factors such as the complexity of your financial situation, the Adviser’s fee structure, and the services rendered. While some advisors charge a percentage of assets under management, others opt for fixed fees or hourly rates. Understanding these fee structures helps in assessing the affordability of financial advice. Moreover, some advisors offer tailored packages or initial consultations at lower costs, making advice more accessible for those who may not have substantial assets.

Click here to read our article titled “What is the Cost of Using a Financial Adviser” and find out more about what costs you may incur.

The Value of Financial Advice

Beyond the monetary cost, it’s essential to recognise the value of professional financial advice. Advisers offer expertise, guidance, and a structured approach to managing finances. Their insights can help individuals set realistic goals, navigate complex financial decisions, and stay on track towards achieving financial milestones. The value of peace of mind and a well-thought-out financial plan can significantly outweigh the associated costs. In addition, your investments can greatly outperform other solutions when utilising a professional Adviser, hence, any charges you pay may even be paid for by that growth, making it of technically no cost!

Financial Advice for Everyone

Financial advice is not solely about managing vast sums of money; it’s about making informed decisions at every stage of your financial journey. Whether you’re just starting to save, planning for retirement, or navigating investments, seeking guidance can provide clarity and confidence in your financial decisions. Understanding that financial advice is accessible and beneficial for individuals at various income levels is crucial in unlocking its potential for financial success.

Demystifying Financial Advice

Financial advice is not reserved for the wealthy; it’s a resource available to anyone seeking to better manage their finances. By understanding the diverse options available, the associated costs, and the intrinsic value it brings, you can make informed decisions about seeking professional financial advice regardless of your financial status. 

The true answer to how much money you need for financial advice is: there is no limit. However, should it be the case that your funds be of a smaller size (CHF 200k or less), you may experience higher fees or have more difficulty finding the advice that is right for you, whereas with larger funds (CHF 1M or more) your fees may be lower and it can be easier to find advice.

Whatever your situation, to ensure the quality of the advice you receive is high, get in touch with Patterson Mills today. Book your initial, no-cost and no-obligation meeting, you will be pleased that you did. Send us an e-mail to or call us direct at +41 21 801 36 84 and we shall be pleased to assist you.

Please note that all information within this article has been prepared for informational purposes only. This article does not constitute financial, legal or tax advice. Always ensure you speak to a regulated Financial Adviser before making any financial decisions.