Why Do I Need a Financial Advisor?
If you have ever wondered why you should engage a financial advisor , you are not alone. A financial consultant can provide the necessary guidance whether you are planning for retirement or want to protect your investments. Hiring a financial advisor can be costly. Fees range from $700 to $3,500, depending on the project. To receive the most excellent bargain, you should know what to expect and ask lots of questions. Fee-based or commission-based financial advisors are available. Fee-based consultants bill on a flat or hourly basis. In general, the higher an advisor's hourly rate, the higher their hourly rate. Commissions paid to specific firms are how commission-based consultants make their money. They also make money from the things they sell. This could result in a conflict of interest. While rates vary depending on the extent of services and level of knowledge, the average is around 1%. It's a good idea to ask your advisor what you may expect to pay during your first meetin...