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| Name | How Much Do Financial Advisors Cost? |
| Video Uploader | Video From Approach Financial |
| Upload Date | This Video Uploaded At 26-09-2021 11:30:09 |
| Video Discription | How much does it cost to work with a financial advisor? Let’s look at survey results showing how much advisors charge. The median hourly fee is around $250 for an experienced advisor. A financial plan might cost around $3,000, but costs are all over the board. Ultimately it depends on factors like location, expertise, level of depth, topics included, and more. This video covers how much you might expect to pay, and we review the primary compensation models for advisors. Personally, I use a few of these options with clients, and current pricing is available on my website. Fee-only advisors do not earn commissions. Instead, they might charge a flat fee, hourly fee, assets under management charges, or use other methods. Commission-based advisors earn a commission when you invest money or buy a financial product. Products include mutual funds, REITs, annuities, and other investment vehicles. There are also “fee-based” advisors who might charge either commissions or fees. It’s only worth paying an advisor’s cost if you get value from the relationship. While you’re probably smart enough to figure things out yourself, you might prefer to get guidance from a professional. Doing so can save a substantial amount of time, incorporate expertise, validate your current approach, or provide other benefits. But paying for a financial planner is not for everybody. If you don’t need the services, there’s no point in paying the costs to work with an advisor. The best way to find an advisor’s pricing is to talk with an advisor or check their website for pricing details. It might cost less than you think, or you might quickly decide that you’re unwilling to pay the costs. Either way, you’re better informed, and you can decide how to move forward. Get free retirement planning resources: https://approachfp.com/2-downloads/ 🔑 9 Keys to Retirement Planning 🐢 6 Safest Investments 🌞 Subscribe to this channel (it's free): https://www.youtube.com/channel/UCFFNzgGX4UyGQk12KL38I1Q?sub_confirmation=1 Learn about working with me at https://approachfp.com/, or read more about this topic at https://www.approachfp.com/how-much-do-financial-advisors-charge/. Justin Pritchard, CFP® is a fee-only fiduciary advisor who can work with clients in Colorado and most other states. ✔️ Flat-fee and hourly advice options ✔️ One-time projects available ✔️ Investment advice (optional) CHAPTERS: 00:00 Intro 00:44 When it Makes Sense to Pay an Advisor 02:40 Two Types of Advisor Compensation 05:01 How Much Fee-Only Financial Planners Cost 06:43 Hourly Financial Planning 08:50 How Much Commission-Based Advisors Cost 10:36 Annuity Commissions IMPORTANT: It's impossible to cover every detail and topic in a video like this. The only thing that's certain is that you need more information than this. Always consult with a CPA before making decisions or filing a tax return. This is general information and entertainment, and is not created with any knowledge of your circumstances. As a result, you need to speak with your own tax, legal, and financial professional who is familiar with your details. Please verify with your plan administrator when employer plans are involved. This information may have errors or omissions, may be outdated, or may not be applicable to your situation. Investments are not bank guaranteed and may lose money. Opinions expressed are as of the date of the recording and are subject to change. The Comments section contains opinions that are not the opinions of Approach Financial, Inc., and you should view all comments with skepticism. Approach Financial, Inc. is registered as an investment adviser in the state of Colorado and is licensed to do business in any state where registered or otherwise exempt from registration. |
| Category | Education |
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