2007-08-31 06:23:38 · 3 answers · asked by ianmaddux 2 in Business & Finance ➔ Personal Finance
1to 2 %!!!
2007-09-03 11:32:55 · answer #1 · answered by Anonymous · 0⤊ 0⤋
Depends. Some financial planners work for free, but they are usually try to seel you a certain product which gives them a commission, so these planners are not objective and don't have your best interests at heart.
For really objective advice, make sure you contact a "fee-only" certified financial planner (CFP). These can provide unbiased analysis and recommendations for a flat fee, or for a percentage of your total portfolio (although if they are accepting a percentage, there is usually a minimum portfolio requirement of at least $100,00). Hourly rates are usually at least $100, so it's like getting a lawyer - not cheap, but can be worth it if you need help.
2007-08-31 06:36:16 · answer #2 · answered by teresathegreat 7 · 0⤊ 0⤋
There are "commissioned" Representatives that get (on average) $575.00 for every $10,000 you invest (5.75%).
(or worse, there won't be an upfront fee, the fee will be buried as an "extra" in the funds (12b1 charges).
Others will charge you a percentage of your portfolio (every year... or as a one time fee).
If you read some books on investing, you may feel comfortable enough to do it yourself. About 1/3 of investors use no load mutual funds. They (and I) save tens of thousands over a lifetime.
Your choice.
2007-08-31 08:00:27 · answer #3 · answered by Common Sense 7 · 0⤊ 0⤋