does anyone know approximately whats the average percentage a financial advisor will take as his fee and commission when setting up something like a private pension fund for someone?
2007-10-08 12:48:37 · 3 answers · asked by Caitlin 3 in Business & Finance ➔ Personal Finance
I am not a financial advisor but I have my IRA/pension managed by Fidelity, and I've also talked to different financial advisors before I took my early retirement from where I worked. These companies charge between 1%-1.5%, and I think some charge at least 2%. I went to Fidelity and they're charging me 1%, and the more money you have with them the less you pay, they give discount on fees. I did not pay a set up fee. And they charge me fee quarterly.
2007-10-08 13:05:42 · answer #1 · answered by Lina 2 · 0⤊ 0⤋
If you decide on a financial planner, first of all go to the ones who are FEE only. Commission ones will have a tendency to serve their own interests. That's a biggie. ok?
2007-10-08 12:51:51 · answer #2 · answered by Irish 7 · 0⤊ 0⤋
How many Financial Advisors does it take to screw in a lightbulb?
No one really knows because all Financial advisors are too busy screwing their clients to screw anything else.
2007-10-08 13:12:25 · answer #3 · answered by john p 3 · 0⤊ 4⤋