How much investment advisors charge will depend on not only the type of service they are providing, but the amount of assets involved as well as the how the advisors charge (hourly, flat fee, percentage of assets).
Hourly Rate: Advisors may charge an hourly rate for building a financial plan or reviewing an existing one. The hourly rate will depend on the skill level of work involved. A typical range of this rate would be $200 - $500 per hour
Flat Fee: Advisor may charge a simple set price to complete a task, such as building a financial plan. The rate might be $500 or $5,000 depending on the complexity of the plan.
Percentage of Assets: To manage funds in a client's portfolio, an investment advisor may charge a set percentage of the amount of assets being managed. A typical range is 0.5% to 2.0% of assets. Typically, the higher the amount of assets being managed, the lower the overall fee percentage rate.
Each Investment Advisor must disclose their method(s) of charging and the fee schedule when engaging in a relationship with the client. But, it doesn't hurt to ask the advisor upfront.
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Hourly Rate: Advisors may charge an hourly rate for building a financial plan or reviewing an existing one. The hourly rate will depend on the skill level of work involved. A typical range of this rate would be $200 - $500 per hour
Flat Fee: Advisor may charge a simple set price to complete a task, such as building a financial plan. The rate might be $500 or $5,000 depending on the complexity of the plan.
Percentage of Assets: To manage funds in a client's portfolio, an investment advisor may charge a set percentage of the amount of assets being managed. A typical range is 0.5% to 2.0% of assets. Typically, the higher the amount of assets being managed, the lower the overall fee percentage rate.
Each Investment Advisor must disclose their method(s) of charging and the fee schedule when engaging in a relationship with the client. But, it doesn't hurt to ask the advisor upfront.