ADVERTORIAL

Helping people make smart financial decisions

The True Cost

of a Financial Advisor Revealed

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.

As research consistently reveals, working with a financial advisor nets investors an average of 1.5% to 4% in additional annual returns.1 Planning for retirement without the benefit of a financial advisor’s keen insights has grown more and more irrational.

Click Your State to Get Matched With Financial Advisors Near You

After you choose your state and answer questions about your financial goals, you can compare up to three advisors local to you and decide which to work with.

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Investing involves risk and no situation is the same. This is in no way intended as a personal recommendation and investment decisions are solely those of the reader.

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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 and vet qualified financial advisors near them.

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 truth is, financial advisors often charge a percentage fee for Assets Under Management (AUM) of between 1 - 2%.1 A 2017 AdvisoryHQ study found that the average AUM fee for a $50,000 account was about 1.18% or $590.2 Many Advisors also charge hourly fees of between $100 - $300 and between $1000 - $3000 for special projects.3

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Empowering people to make smart financial decisions.

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.

Sources:
1. Northwestern Mutual study
2. Value of a Gamma-Efficient Portfolio (2017), Morningstar Investment Management.
3. The Return on Advice (2016), Envestnet, Capital Sigma.
4. Value of a Financial Advisor Study (2017), Russell Investments.
5. Advisor Value (2014), Voya Retirement Research Institute.

6. Journal of Retirement Study
7. Vanguard (2019), Putting a Value on Your Value

Average Financial Advisor Fees

Fee Type

Type Cost

Percentage of Assets Under Management

Fixed Fees

Hourly Fees

1% - 2% per year

$1,000 - $3,000

$100 - $400 per hour

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This quiz asks about your financial goals, then matches you with three fiduciary financial advisors. You can compare your advisor matches based on their specialty, pricing, and more. You even earn 3 free consultations with each of our matches, so you can compare them and be fully prepared to pick a financial advisor.

Advisor Fees vs. Average Returns

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