Independent financial planning firm
Set up your own FCA-authorised advice firm from a small office, with your own clients, fees and brand.
- £15k-60k
- Full-time
- Own premises
- Licence or permit needed
Estimates for a small start in the UK, not guarantees.
Official data
9,891 UK companies in this field, 26% registered in the last 2 years
SIC 66190 “Activities auxiliary to financial intermediation n.e.c.”. Source: Companies House, November 2026.
What it is
You run your own directly authorised financial advice firm, taking responsibility for compliance, insurance and client service. You meet clients in a small office and may add a paraprofessional or administrator as you grow.
Your first three steps
- Talk to a regulatory consultant about the FCA authorisation process, timescales and costs for a new firm
- Draft a business plan covering your target clients, fee structure and how you will fund the first year
- Look at small serviced offices or shared space near your target clients and compare costs
Who pays
Individuals and families needing retirement planning, investment advice and savings guidance, often from a local area or a particular niche.
How it makes money
Initial planning fees and ongoing advice charges, usually fixed or a percentage of client assets. Fuller control means you keep more of the fees, but you also carry all the running costs.
Skills that help
- Strong financial planning knowledge
- Managing compliance and regulation
- Marketing and networking
- Running a small business
Watch out for
- FCA authorisation is a detailed process that can take months, and you must not give regulated advice until it is in place, so check current requirements
- Ongoing regulatory fees, capital requirements and reporting duties
- Professional indemnity insurance, which can be costly for new firms
- Consumer Duty and record-keeping requirements, which add admin time
- Anti-money laundering checks and data protection registration with the ICO
- A long wait before income covers costs, so keep enough cash to cover many months
Deep research report · UK
Everything you need to start: independent financial planning firm
Researched with live web search for United Kingdom: real startup prices, the licences and rules, what others charge, a break-even example, how to find your first customers and a 30-day launch plan. With sources.
- Startup costs with real prices
- Licences, registration and rules
- Pricing: what others charge
- Break-even example
- Finding your first customers
- 30-day launch plan
- Risks and how to reduce them
Questions people ask
How much does it cost to set up a financial planning firm?
Startup costs are typically around £15,000 to £60,000, depending on your office, insurance, regulatory fees and the cash you hold to cover early months. These are estimates. Professional indemnity insurance can be costly for new firms.
How much can an independent financial planning firm earn?
Monthly revenue is typically around £4,000 to £20,000, depending on your client base, fees and niche. This is an estimate of revenue, not profit. There can be a long wait before income covers costs, so keep enough cash in reserve.
What should I check before starting an advice firm?
Check current FCA authorisation requirements, which can take months, and do not give regulated advice until it is in place. Also check ongoing fees and capital requirements, Consumer Duty and record-keeping, anti-money laundering checks, and ICO data protection registration.
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