How much does a financial advisor cost? - Quora
Short Answer: It Depends.There are different type of fee structures, from asset based to flat fees to a mix.Depending on your situation and what you are looking to get from you financial one may be better than the other.
At GuideVine you can talk to our consumer concierge for free, where she can help you think through costs as well as what you are looking for in an advisor. Book here:GuideVine - Concierge
Also, you can ask free questions directly to an advisor here:GuideVine: Find a Financial Advisor
FD: I vet the advisors on the platform
This depends on what kind of advisor you want. There are three ways advisors get paid:
- Commissions on the products they sell you
- A flat % of your assets with them
- A hard dollar fee you write them a check every year
get paid via commissions. This also means they aren't directly tied to your interests. They are paid to make you sell and buy different products frequently. Most research shows this is bad for your portfolio. Registered Investment Advisors (RIAs) are paid the other two ways. They are held to the fiduciary duty and MUST do what's in your best interest. If you have a significant portfolio size ($1M and up) the flat % fee is probably your best bet. If you don't have many assets yet, you may have to write a check. Fees on commissions range from 0.25% to 5%Fees on flat % range from 0.25% to 1.5%Fees per year range from $3600 to $12000If you are looking for a simple financial plan for a straight-forward goal, use a robo advisor. (Google it)
If you need special attention, hire a real human.