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SmartAsset’s free, five-minute quiz makes it easy to find vetted financial advisors who serve your area. Our exclusive and secure tool matches you with up to three fiduciary financial advisors. 

Unlike broker-dealers, stockbrokers and insurance agents, fiduciary advisors are legally bound to work in your best financial interest.

Advisors are rigorously screened through our proprietary due diligence process.

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© 2022 SmartAsset

IN THE PRESS:

This is not an offer to buy or sell any security or interest. All investing involves risk, including loss of principal. Working with an adviser may come with potential downsides such as payment of fees (which will reduce returns). There are no guarantees that working with an adviser will yield positive returns. The existence of a fiduciary duty does not prevent the rise of potential conflicts of interest.

SmartAsset Advisors, LLC (“SmartAsset”), a wholly owned subsidiary of Financial Insight Technology, is registered with the U.S. Securities and Exchange Commission as an investment adviser. SmartAsset’s services are limited to referring users to third party registered investment advisers and/or investment adviser representatives (“RIA/IARs”) that have elected to participate in our matching platform based on information gathered from users through our online questionnaire. SmartAsset does not review the ongoing performance of any RIA/IAR, participate in the management of any user’s account by an RIA/IAR or provide advice regarding specific investments.

We do not manage client funds or hold custody of assets, we help users connect with relevant financial advisors.

Other than application and licensing fees, SmartAsset did not provide compensation for the aforementioned awards.

Sources:
1. Journal of Retirement, Winter 2020
2. Planning and Progress”, Northwestern Mutual (April 2020)
3.”Why Work With a financial advisor?”, Fidelity (11/1/2021)
4."What are the Average Financial Advisor Fees & Investment Fees Being Charged in 2021?", AdvisoryHQ (July 2021)
5. Vanguard (Feb. 2019), Putting a Value on Your Value

The projections or other information regarding the likelihood of various investment outcomes are hypothetical in nature, do not reflect actual investment results, and are not guarantees of your future results.  Please follow the below links to see the methodologies employed in the Journal of Retirement, Fidelity, AdvisoryHQ and Vanguard studies.
https://jor.pm-research.com/content/7/3/46
https://www.fidelity.com/viewpoints/investing-ideas/financial-advisor-cost
https://www.advisoryhq.com/articles/financial-advisor-fees-wealth-managers-planners-and-fee-only-advisors/
https://www.vanguard.com/pdf/ISGQVAA.pdf

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Why Work With an Advisor?

We believe it’s more important now than ever to review your retirement plan with a fiduciary financial advisor. Here’s why: The pandemic has shown us just how quickly decades of planning, investing and saving can be completely upended. This could mean your current financial plan might leave you without enough money to last your retirement.

Additionally, emotionally-charged decisions to sell off large quantities of stocks or other investments now lock in your losses, removing any chance for future growth. Research suggests people who work with a financial advisor feel more at ease about their finances and could end up with about 15% more money to spend in retirement.¹ 

A 2020 Northwestern Mutual study found that 71% of U.S. adults admit their financial planning needs improvement. However, only 29% of Americans work with a financial advisor.²

But for many other Americans, the reason they’ve never enlisted the help of a financial advisor is they simply don’t know where to find one, or how to evaluate their proficiency and pricing.

That’s why we created a free quiz to help Americans find vetted financial advisors near them.

This quiz asks you a few questions, then matches you with up to three fiduciary financial advisors. You can compare your advisor matches based on their specialty, pricing, and more. You even earn a free consultation with each of your matches, so you can compare them and be fully prepared to pick a financial advisor.

According to a Fidelity study, financial advice can add between 1.5% and 4% to account growth over extended periods.³

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 are often less than most people think, and the insights they add often surpass an advisor's cost.

The True Cost of a Financial Advisor

A Vanguard study found that, on average, a hypothetical $500K investment would grow to over $3.4 million under the care of an advisor over 25 years

Financial Advisors

at No Cost to You

The hypothetical study discussed above assumes a 5% net return and a 3% net annual value add for professional financial advice to performance based on the Vanguard Whitepaper “Putting a Value on your Value, Quantifying Vanguard Advisor’s Alpha”.  Please carefully review the methodologies employed in the Vanguard Whitepaper  The value of professional investment advice is only an illustrative estimate and varies with each unique client’s individual circumstances and portfolio composition. Carefully consider your investment objectives, risk factors, and perform your own due diligence before choosing an investment adviser.⁵

The hypothetical study discussed above assumes that professional financial advice can add between 1.5% and 4% to portfolio returns over the long term, depending on the time period and how returns are calculated and is based on the Fidelity Whitepaper “Why work with a financial advisor, November, 2021”. Please carefully review the methodologies employed in the Fidelity Whitepaper. The value of professional investment advice is only an illustrative estimate and varies with each unique client’s individual circumstances and portfolio composition. Carefully consider your investment objectives, risk factors, and perform your own due diligence before choosing an investment adviser..⁵

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 $590.⁴

The figures above are examples only and used to illustrate what typical fees for financial advisors and their structure looks like. Advisors on the SmartAdvisor Match Platform that you may be matched with may charge higher fees than those shown above. Please carefully review fee structures with your investment advisor and review your advisor's form ADV and CRS.