fiduciary
how much should a fiduciary charge for financial services
Terry Says
It all depends on the services provided. A “fiduciary” is someone who puts IN WRITING that they have a duty to put your interests first, ahead of their own.
I recommend using only a FEE-ONLY fiduciary who can quote a fee — based on the scope of the issues. Do you only need investment advice? Do you need tax planning, estate planning, family relations discussions?
If you’re talking about investment advice, many advisors charge a percentage of assets under management. But they also promise no hidden fees, commissions, sales charges, etc. Then again, if you have a lot of “chicken money” in the bank or T-bills, why pay a fee for advice on those assets?
It’s always worth paying for good advice. You should just know exactly what you are paying!
Please watch this video I created with Pam Krueger of Wealthramp.com. I think it will answer your questions.
