At what net worth should I get a financial adviser in the UK?

At what net worth should I get a financial adviser in the UK?

It’s not just about numbers. The need for professional advice is often born from financial complexity, so the question “At what net worth do you need a financial adviser?” doesn’t have a one-size-fits-all answer.

While an elevated bank balance can be the trigger, your net worth is not the only indicator of when to get a financial adviser in the UK.

Signs you might benefit from financial advice

When your net worth reaches around £100,000 or your annual income exceeds £60,000, it’s likely you’ll benefit from speaking to a financial adviser. But there are more elements to consider that make it more complicated than setting a specific number. You may also benefit from financial advice if:

• You’re managing multiple income streams or investments
• You’re aiming for multiple life goals at once
• Financial planning has taken a back seat while you focus on work
• You’ve lost track of everything and need to regain clarity
• You’re unsure of your effective marginal tax rate*

*This is the rate of tax you’ll effectively pay on the next £1 you earn, not your full total earnings. Many professionals are shocked to discover how these increases subtly creep in as their earnings grow. In many cases, the quiet elevation is realised too late, after tax-saving windows have passed.

How much money should you have before you need a financial adviser?

While the need for advice isn’t solely dependent on your net worth, different situations do require different approaches.

At £50k assets, here’s what advice typically looks like:

This is where you build solid financial foundations for a comfortable future. You might be buying your first home, starting a family, or beginning to invest.

Time is your ally, and the effects of compounding interest can be huge over a lifetime. This is your major advantage at this stage, and one of the reasons why waiting to hit a defined net worth target isn’t the best approach to financial advice.

At £100k - £250k assets, your needs get more complex:

By this stage, you could be balancing a mortgage, childcare costs, an expanding business or a promotion, and your growing savings and investments simultaneously.

Advice here focuses on protecting the wealth you’ve built, optimising tax efficiency, and keeping your financial plan aligned with your priorities and long-term plans.

At assets of 250k plus, things step up a gear:

At this level, a strategic approach is essential. The goal shifts to preserving and growing wealth across generations while maintaining flexibility and quality of life. Advice at this stage often includes tax-efficient structures, estate planning, and strategies to protect your assets for the future.

When professional advice starts to add value

As your income and assets grow, the UK tax system becomes increasingly complex. It’s far more nuanced than the black-and-white 20%, 40% and 45% tiers most people are familiar with. Poor financial planning can lead to effective marginal tax rates of 60% or 70%+, and in extreme cases where benefit or allowance withdrawal cliffs are involved, deductions can exceed 100% with no ceiling.

The additional deductions consist of National Insurance and charges and deductions that aren’t officially taxes but behave as such. For example:

• The High Income Child Benefit Charge reduces your entitlement as income rises, starting when one partner earns over £60k.
• When you earn over £100,000, your tax-free personal allowance starts to diminish by £1 for every £2 of income.
• The loss or reduction of means-tested benefits can dramatically increase the true rate you pay on each extra pound of income.

For example, for families who receive tax-free childcare, the benefit is completely withdrawn if either parent earns over £100k. This can potentially mean an effective annual income reduction that reaches several thousand.

This is something you’ll want to stay on top of as your wealth grows. Proactive planning keeps you aware of these traps before you fall into them. Building structure before building wealth is an underrated and often overlooked powerful tactic in keeping more of what you earn.

At what point is it worth getting a financial adviser?

Consider the potential cost of waiting. Could you be missing out on opportunities to help maximise your assets? Financial advice isn’t just about where to put your spare money. It helps you make the most of what you’ve got, which means keeping as much of it as possible.

Many opportunities to make the most of your assets come with time restraints, and once they pass, they’re gone. If you’re in the 40% tax band, the chances are you’re already paying more than you realise, and there could be scope to manage your money more effectively. For this reason, it’s best to consider your overall financial picture when deciding when to get a financial adviser.

At what net worth should I get a financial adviser in the UK?

By the time your assets reach around £50k, you could benefit from laying the foundations of a financial plan. Yet there’s no specific number that signals the right time to speak to a professional – it’s more about your circumstances and the complexity of your finances.

Getting the right guidance early can make a big difference in building and protecting your wealth. At Keyplan Wealth, we support professionals at every career stage. From laying the foundations of a future-facing financial strategy through to pension planning and retirement, we help our clients reach their life goals and turn aspirations into achievements.

FAQs

What is considered high net worth in the UK?

Anyone with over £1 million in total assets is generally classed as high net worth in the UK, though some advisers use lower thresholds, such as £250,000 in investable assets.

At what point is it worth having a financial adviser?

When your finances become complex and difficult or time-consuming to manage. For example, when juggling multiple income sources and investments.

When should I consider getting a financial adviser?

When you start making long-term financial decisions that affect your future wealth.

What is the best age to get a financial adviser?

Moving away from just the numbers once again, it’s more about your stage of life, your circumstances and your priorities than your age. The earlier you seek advice, the harder it can work for you.

The value of an investment with St. James's Place will be directly linked to the performance of the funds selected and may fall as well as rise. You may get back less than the amount invested.

The levels and bases of taxation and reliefs from taxation can change at any time. Tax relief is generally dependent on individual circumstances.

Although the content of the article was correct at the time of writing, the accuracy of the information should not be relied upon, as it may have been subject to subsequent tax, legislative or event changes.