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Financial Advisors Costs & Prices
We have collected data nationwide to help calculate the average cost of financial advisors in the US. The following are average costs and prices reported back to us:
Cost of Financial Planning$125.41 fee only - hourly rate (Range: $99.18 - $151.64) 1.18% of assets under management (Range: 0.91% - 1.45%) 9.27% of investment purchased (Range: 8.20% - 10.33%) Free Estimates from Local ProsCost of Financial Advisors - Stocks & Bonds$28.75 fee only (hourly rate) (Range: $22.50 - $35.00) 1.24% of assets under management (Range: 0.96% - 1.52%) 1.89% of investment purchased (Range: 1.31% - 2.46%) Free Estimates from Local ProsCost of Financial Advisors - Asset Management$154.71 hourly rate (Range: $115.71 - $193.71) 2.52% of assets under management (Range: 1.42% - 3.61%) 11.64% of investments purchased (Range: 8.88% - 14.39%) Free Estimates from Local ProsCost of Retirement Planning & IRAs$116.00 fee only (hourly rate) (Range: $103.33 - $128.67) 1.43% of assets under management (Range: 0.99% - 1.86%) 1.94% of investments purchased (Range: 1.29% - 2.58%) Free Estimates from Local ProsCost of Education Planning & 529 Plans$109.00 fee only (hourly rate) (Range: $71.25 - $146.75) 1.07% of assets under management (Range: 0.93% - 1.21%) 2.29% of investment purchased (Range: 1.81% - 2.76%) Free Estimates from Local ProsCost of Business 401K & SEP Plans$59.00 hourly rate (fee only) (Range: $15.00 - $103.00) 0.87% of assets under management (Range: 0.65% - 1.09%) 1.19% of investments purchased (Range: 0.97% - 1.41%) Free Estimates from Local ProsCost of 401k Plans$143.75 fee only (hourly rate) (Range: $100.00 - $187.50) 1.14% of assets under management (Range: 0.81% - 1.46%) 2.12% of investments purchased (Range: 1.63% - 2.61%) Free Estimates from Local ProsCost of 401-k Rollover Assistance$117.00 fee only (hourly rate) (Range: $88.75 - $145.25) 1.2% of assets under management (Range: 0.86% - 1.53%) 2.51% of investments purchased (Range: 1.44% - 3.57%) Free Estimates from Local Pros |
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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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Disclaimer: Costs and prices shown on the ProMatcher site are intended to be used as general information, not as guaranteed estimates. To obtain cost information relevant to your project, request a quote or estimate from a local service provider.
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