Financial Planning Cost Checklist
There are a number of ways that Financial Advisors and Planners charge for their services. Here are a few ways:
Commission and Fee Advisors - charge fees for up front planning but also charge commissions for each product or investment purchased (stocks, bonds, real estate, insurance, annuities, etc.). This is the most common way advisors charge for their services.
Commission Only Advisors - charge commissions for each investment purchases (stocks, bonds, real estate, insurance, annuities, etc.).
Fee-Only Advisors – charge a fixed rate for their services. One reason advisors like this approach is that they feel the approach provides more objectivity (they are not being paid by someone to sell a product or investment). Here are a few ways they charge:
1) a fee based on percentage of assets under management or your net worth;
2) by the hour;
3) fixed fee for a certain number of planning sessions, meetings, or calls.
Salaried Advisors - do not charge fees for their time, but get paid directly from their employer. They may also receive bonuses for bringing in new customers or when their customers purchase certain types of products. Working with a salaried advisor does not mean that all of the transactions will be free. There will still be fees involved, they just may not go to the advisor.
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Find Costs & Prices in Your City
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45419, Dayton, Ohio - January 11, 2022
Financial Advisors - Asset Management0.40 to 1.25 percent of assets under management
Many of our clients work with us on a flat retainer fee basis, which includes all of our services, including investment management, tax, estate planning, financial planning, and risk management.
Reported by:
Doug Kinsey, CFP®, CIMA®, Artifex Financial Group
See the Dayton Financial Advisors Cost Report
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