Financial advice by the hour

[GreyGreyGrey]

How do I find a financial advisor who charges by the hour?

I do not want to pay someone a percentage each year to “manage” my money. I just want some information about financial rules and setting things up.

I live in London, it must exist!

If what you mean is information about tax rules, legal rules, setting up structures, etc. you could hire a tax accountant or a lawyer. Or, you could educate yourself using free resources. Many of the investment platforms have basic information about ISAs, SIPPs, allowances, etc.

This assumes that you understand the underlying investments well enough to choose which securities or funds you would like to purchase.

Thanks for coming back to me @YankeeDad Yes, I mean the tax rules.

Are you by any chance American? I have an American DD born and raised here in the UK. We need advice for her. It is very difficult to find.

How did you guess? ;)

I could ask around. Who the right person is would, however, depend indirectly on the amount of assets involved because if you’re thinking about setting up
certain kinds of bespoke structure there are fixed costs, so only worth doubt above a certain size of ‘pot’. Whereas if it’s just about working out which type of existing funds are suitable that would have less fixed cost.

as a starting point, do you already have a US tax preparer or has that been unnecessary until now ?

Most independent FAs will be happy to set something up for you and not insist on ongoing advice. You must be given the option to pay a direct fee - but it will mostly be the same as the percentage or could even be more.

If your DD has US nationality nobody will want to deal with her.

Yes, we want advice for ourselves (my husband and I are both UK citizens- I gave up my US citizenship. I feel sad about it, but it was becoming a real pain, and a source of stress.)

DD has very little in terms of assets, but I would like someone to help her understand how to handle things ads she goes forward. Can she have an ISA, is it too difficult to own equities, etc. I don’t want her to be put off of planning for her future because it’s too daunting to build up any assets.

So, it’s two different issues.