It is all about a question of liability for a financial advice.
If you are given financial advice then the financial adviser becomes liable for life rather a cut off of say 3-6 years for client limitation under the Consumer Protection Act. If you act for yourself, you are responsible for your own actions.
For a recent client with around £500,000 invested:
ADVICE was to stay put as we would charge over £4k to move £400k investments and only save the client around £100pa – so the advice was to stay
EXECUTION INSTRUCTION with no advice and the client instructs us to do something – i.e. execution only = £180 admin fee (including VAT) as we are merely providing an administration service. It is then up to he financial adviser to decide whether they will offer ‘execution only’ services for certain types of pension or investment as the FCA is not in favour of certain types of product arranged under execution only.
DO IT YOURSELF means there no fees if you DIY and if your pension or investment provider will allows direct DIY with an adviser being involved, many will not, in particular for certain types of pension scheme.