Financial Planners?

Question

Does anyone, especially any financial planners, know how much a financial planner costs every month/year to hire, especially one that can handle stocks/portfolios?

Answer 1

Depends on how much service you want from one, and how many options. I work for an Allstate agent in GA, and we have a financial services partner that will review your finances for free. She of course does this in hopes of you purchasing IRAs, life insurance etc from her. Most Allstate agents will work with an EFS. If you go to Allstate.com you can find one near you.

Answer 2

Planners charge either flat fee per hour ($75 to $250 an hour), retainer per project or timeframe, or a percentage of assets. Some will not even consider you unless you have a certain amount of assets under their management--and this will pertain specifically to handling stocks/portfolios.

To find a planner that is right for you, I urge you to visit http://www.plannersearch.org. This is the site to find a CERTIFIED FINANCIAL PLANNER™ professional. They will list how they charge their fees. Good luck!

Answer 3

It depends...some are fee based and that amount will change with each planner and the amount of capital in your portfolio.

Others charge a % of your portfolio's balance. The typical number is 1% of your total. If you have $1 million then your fee would be $10,000 / year

Answer 4

About 2 percent of your portfolio.They will help you lose your moneyand still charge you for that service.Most financial planners are poor and over 65 percent leave the industry in first 3 years.Educate yourself and forget about hiring some planner who probably has less money than you do.I know some planners that drive neons and live in rented apartments,do you really want advice from them.Think for yourself.