Should you hire a financial advisor?

It’s no wonder many people consider hiring a financial advisor to help them navigate the process. But consulting with one of these professionals isn’t free. Some advisors won’t work with clients unless they meet minimum account requirements.

How much does it cost to hire a financial advisor?

Hourly fees can range from roughly $150 to $500 or more. How much money should you have before hiring a financial advisor? You don’t need a lot of money to set up a one-time meeting with a financial advisor. Many advisors offer an initial discovery session for less than $300.

How do I find out how much a financial advisor cost?

To figure out the financial advisor costs you may be charged, look at the firm’s Form ADV (SEC-filed paperwork). On this form, a firm must clearly note each fee type that it charges for its investment advisory services. Specifically, in Section 5, the firm must check off each type of fee that it charges clients for its investment advisory services.