Free financial advice in the UK: what is actually free?

01The free services

None of these will tell you which fund to buy or whether to transfer a pension. They explain the options and the trade-offs, which is often enough.

02Free from advice firms

Many advice firms offer a first meeting at no charge, to understand what you need and explain how they charge. It is a useful way to compare firms, as long as you treat it as a conversation and ask for any fee in pounds before agreeing to work. Some employers also pay for financial education or advice as a workplace benefit, so check with yours.

03Targeted support

Since 6 April 2026, firms authorised for it, such as pension providers, can offer targeted support: suggestions designed for groups of customers in similar circumstances. It is not personal advice, and it may come from a firm that sells you the product, but it can be a useful prompt.

04When paid advice is worth considering

Paid advice gives you a personal recommendation based on your circumstances, with the protection of the Financial Ombudsman Service and, where it applies, the Financial Services Compensation Scheme if the advice was unsuitable. It tends to matter most for large, complex or hard-to-reverse decisions. Transferring out of a defined benefit pension worth more than £30,000 legally requires it. Our guide do I need a financial adviser? has a self-test, and minimum fees explains what to do if your pot is small.

05Common questions