In a society where people turn to social media for help deciding between paint colors, it’s unthinkable that so many of us continue to entrust our financial futures to... ourselves.
According to a Fidelity Study, financial advice can add between 1.5% and 4% to account growth over extended periods.1
So, why do some Americans continue to walk the financial road alone?
For some, the excuse is the false assumption that they can’t afford it. In actuality, the fees financial advisors charge can potentially be less than most people think, and the insights they add could potentially surpass an advisor's cost.
The truth is, financial advisors often charge a percentage fee for Assets Under Management (AUM) of between 0.59 - 1.18%. A 2021 AdvisoryHQ study found that the average AUM fee for a $50,000 account was about 1.18% or $590.2
Average Financial Advisor Fees
Common Fee Types & Costs
- Percentage of Assets Under Management: 0.59% - 1.18% per year
- Fixed Fees: $7,500 for portfolios under $500K
- Hourly Fees: $120 - $300 per hour
The figures above are examples only and used to illustrate what typical fees for financial advisors and their structure looks like. Please carefully review fee structures with your investment advisor and review your advisor’s form ADV and CRS.
Why Speak With a Financial Advisor
Consulting a fiduciary financial advisor could help you determine a plan that factors your assets and taxes into your overall retirement and estate-planning goals. Fiduciaries are obligated by law to act in your best interest and any potential conflicts of interest must be disclosed.
Yet knowing how to find a vetted fiduciary advisor is, for many, the most confusing task of all. Common Google searches related to the topic reveal a desperate search for direction. "Fiduciary financial advisors near me,” "best fiduciary financial advisor,” and "financial investment advisors near me” are searched hundreds of times per day.
Finding a fiduciary shouldn't be that hard. Thankfully, now it isn't.
Our free matching quiz helps Americans get matched with up to three fiduciary advisors who serve their area so they can compare and decide which advisor to work with. All advisors on the matching platform have been rigorously vetted through our proprietary due diligence process.
The quiz takes just a few minutes, and in many cases, you can be connected instantly with an advisor to have an introductory call.