Start an independent fee-based financial planning firm
Run your own FCA-authorised planning practice from a small office, with ongoing fee-paying clients.
- £10k-40k
- 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 set up your own regulated firm giving advice on investments, pensions and savings. You are responsible for compliance, systems and client service, and you may hire a paraplanner or administrator later.
Your first three steps
- Read the FCA's guidance on applying for authorisation and consider a compliance consultant to help with the application
- Write a business plan covering your target clients, charges and how you will fund the first year
- Price up professional indemnity insurance, planning software and a small office or meeting space
Who pays
Individuals, families and business owners who want ongoing financial planning and investment management.
How it makes money
Initial planning fees plus ongoing annual charges, usually a percentage of assets or a fixed fee. Income grows as the client base builds.
Skills that help
- Recognised financial planning qualifications
- Client relationship building
- Running a regulated business
- Organised record keeping
Watch out for
- FCA authorisation takes time and has requirements on qualifications, capital and compliance, so check current rules
- Professional indemnity insurance and ongoing regulatory fees
- Data protection duties and registration with the ICO, check what applies
- It can take many months to earn enough to cover costs, so have savings or other income
Deep research report · UK
Everything you need to start: independent fee-based 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 start a financial planning firm?
Startup costs are typically around £10,000 to £40,000, depending on your office, systems, insurance and regulatory costs. It can take many months to earn enough to cover costs, so have savings or other income.
What should I check about FCA authorisation?
Check current FCA rules: authorisation takes time and has requirements on qualifications, capital and compliance. Also check professional indemnity insurance, ongoing regulatory fees, and data protection duties, including whether you need to register with the ICO.
How much revenue can a financial planning firm make?
Monthly revenue is typically estimated at around £3,000 to £15,000, depending on your client numbers and fees. The estimate starts at about 30 hours a week, and income may build slowly at first.
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