Financial Planner Fees
A fee only adviser may be the way to go!
Financial planner fees may have a significant bearing on your overall investing performance. What are your options?
Some advisers charge fees as a percentage of the funds that you invest with, or through them. Depending on their magnitude, the fees can have a serious effect on the overall returns on any investment you make.
Giving someone else total control of your money was never a good idea.
The other option is to use a fee-based financial adviser who charges on the basis of the time taken to provide the advice you require.
I find it difficult to understand why it takes a financial adviser significantly more time to advise on how to invest say $800,000 compared to say $400,000.
Yet a financial adviser charging a percentage rate will extract twice the fee for the former client compared to the latter.
Value investing also means getting value from any financial advice I obtain.
When I require financial advice specific to my circumstances, I use a fee based financial adviser who charges on an hourly rate.
I also look for an independent financial adviser. That is, someone who is not associated with a company selling financial products.
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